Property Management Software Market Analysis Report By Deployment, By Application, By End-user, By Region And Segment Forecasts From 2020 To 2027

Synopsis

With reference to the report published, the global property management software market was prized by USD 1.58 billion in 2019. It is estimated to witness a 5.2% CAGR from 2020 to 2027.

Drivers

Due to the increasing demand for web-supported services together with Software as a Service (SaaS) via suppliers of property management software, the market is projected to observe rising demand for Property Management Software (PMS). SaaS facilitated property management software, assists in handling everyday functioning that includes accounting, building repairs, and the follow up of lease and tenant and others. The software presents a centralized display place to observe each and every one property and, in addition, facilitate administration of further property linked processes, like attend to the necessities of tenants and repairs jobs.

Mostly, the software presents incorporated banking; accounting facility, fiscal coverage, online requirements for the maintenance and its follow up, lease agreements in digital format, online storage space for the documents plus distribution, along with additional functions.

Besides, according to the requirement of the hospitality industry, property management software can be custom-made to additionally increase the easiness of the process. It comprises coverage of Key Performance Indicators (KPI), price estimation of food & beverage, room locks as well as security, incorporation of Point of Sale (POS), check-in and check-out, supply administration of hotel inventory,and the computerization of bookings.

Property management software solutions have moved from physical to computerized administration solutions, during the latest days. The computerized property management solution contains enhanced property management software system, consequently diminishing individual inaccuracy along with permitting property administrators to professionally assign duties to evade interruptions in service.

While, in usual traditions of property management the information is physically written down by means of Notepad, Microsoft Excel, or some other spreadsheets. This creates the procedure unproductive, likely to miscalculate and sluggish.

End-User Insight

The property managers/agents sector retained the major 36.32% revenue share of the property management software market, in 2019 and is expected to go on its governance, during the forecast period.

This is caused by the growing number of commercial possessions as well as the global growth of real estate. Furthermore, the software assists property agents as well as the managers to take a trace of each and every one property together with essential repairs. Consequently, this developing tendency of workplace mobility is boosting the enlargement of the market.

In 2019, the housing associations sector held a 29.92% revenue share and is anticipated to observe sizeable enlargement, during the forecast period. This is caused by a small number of issues, faced by the townships and apartments, together with rental agreements, getting payments, racking tenants, and others.

Deployment Insight

In 2019, the cloud sector held the principal 59.43% revenue share of the property management software market. It is anticipated to keep on its domination for the duration of the forecast. This is caused by the increasing implementation of cloud deployment between a variety of end-users together with corporate occupiers, property managers, housing associations, and others.

The on-premise deployment section is anticipated to record the significant development, during the forecast period. This is due to the related benefits, together with the possession as well as control above the hardware plus on the excessive stage of the information safety as against the cloud-based property management software.

Besides, on-premise property management software presents customization according to the requirements of the user or the business. The above-stated profits of on-premises deployment are encouraging the expansion of the on-premises deployment section, during the forecast period.

Application Insight

The residential sector held a major 58.22% share of the property management software market, in 2019. It is estimated to carry on its supremacy, for the period of the forecast. This is caused by the rising funds in real estate. The residential sector is additionally sub-divided, specifically single-family housing, multi-family housing/apartments, and others.

The commercial section is estimated to record a large expansion, during the forecast period. The globally increasing commercial division is one of the most important reasons, driving the demand for the software in the market.

The increasing administration of the cyber threat, rising disposable income, altering utilization of the technologies, and others are the factors, estimated to increase the funds in the commercial division, as a consequence impelling the expansion of the market.

Regional Insight

In 2019, North America held the largest 27.11% revenue share of the global property management software market. This is credited to the attendance of important companies within the region. These companies are, Yardi Systems Inc., Entrata, Inc., AppFolio, Inc., MRI Software LLC, and Buildium. Because of the rising figure of the hotel spaces within the nation, in the present situation, the U.S. dominates the region.

Europe held the subsequent major share of the market, in 2019. The enlargement can be credited to the increasing occurrence of a large number of housing as well as commercial buildings, together with a great level of digitalization, within the province.

The Asia Pacific held a 19.54% revenue share, in 2019 and is estimated to appear like the speedily developing region, during the forecast period. This is credited to the rapidly increasing infrastructure, together with ease of access for the compilation as well as preservation of the information, relating to the property plus increasing demand for better information management, within the region.

Moreover, the features like escalating populace, increasing cloud-based results, outsourcing services, and the government policy, are the input things behind the expansion of the market, within the region. In addition, technical innovations like machine learning, Artificial Intelligence (AI), voice commands, and data analytics, to perk up the potential of property management software are the factors likely to augment the acceptance of property management software, within the region.

Companies

The property management software supplier companies are concentrating on fresh product development. That helps in increasing their attendance within the market. For example, in the midst of the COVID-19 pandemic, Yardi Systems Inc. declared the latest updates, regarding the functionality for its presented Yardi Breeze property management software, in April 2020. The new-fangled features comprise customer relationship management, online state-sourced rent documents, PayNearMe, ACH, debit/credit card, or walk-in flexible payment options, among others.

By reason of working distantly, to follow the social distancing procedures, throughout the COVID-19 emergency, the aforesaid features will facilitate, tenants, property managers, owners, and vendors, to remain linked on a particular display place.

Some of the companies for the property management software market are:

    • Real Page, Inc.
    • IQware Inc.
    • Entrata, Inc.
    • Console
    • App Folio, Inc.
    • Yardi Systems Inc.
    • MRI Software LLC
    • Inn Quest Software
    • CORELOGIC
    • Buildium

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the global property management software market report based on deployment, application, end-user, and region:

• Deployment Outlook (Revenue, USD Million, 2016 - 2027)
    • Cloud
    • On-Premises

• Application Outlook (Revenue, USD Million, 2016 - 2027)
    • Residential
        • Multi-family Housing/Apartments
        • Single-family Housing
        • Others
    • Commercial
        • Retail Spaces
        • Office Spaces
        • Hotels
        • Others

• End-user Outlook (Revenue, USD Million, 2016 - 2027)
    • Housing Associations
    • Property Managers/Agents
    • Property Investors
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
        • Spain
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa