Overview and Scope
Property management software refers to a software application used to manage hotels and other types of rental homes for businesses. To plan, coordinate, and carry out the daily tasks and transactions required in the lodging industry, PMS offers a centralised computer system. It reduces the amount of manual effort required for rent collection, maintenance, and repair scheduling.
Sizing and Forecast
The property management software market size has grown steadily in recent years. It will grow from $1.78 billion in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to efficiency and time savings, remote property management, financial management, tenant and lease management, compliance and regulations, user-friendly interfaces.
The property management software market size is expected to see steady growth in the next few years. It will grow to $2.24 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to customer relationship management, predictive maintenance solutions, energy efficiency and sustainability, tenant portals for self-service, dynamic pricing strategies, advanced reporting and analytics. Major trends in the forecast period include smart building integration, virtual tours and 3d visualization, cloud-based solutions dominance, globalization and multinational property management, advanced reporting and business intelligence, dynamic pricing strategies.
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Segmentation & Regional Insights
The property management software market covered in this report is segmented –
1) By Deployment: Cloud, On-premise
2) By Application: Residential, Commercial
3) By End-User: Housing Associations, Property Managers/Agents, Property Investors, Other End-Users
North America was the largest region in the property management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the property management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in investments in smart cities is expected to propel the growth of the property management software market during the forecast period. Governments around the world are investing in the creation of smart cities. Smart city technologies uses information and communication technologies to efficiently manage and operate urban services, thus creating demand for efficient management of properties. The European Union is actively promoting smart city initiatives, with funds for research and sustainability targets for member states. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China. Hence, the investment in smart cities is expected to drive the property management software market growth.
Key Industry Players
Major companies operating in the property management software market report are AppFolio Inc., Console Australia Pty Ltd., CoreLogic Inc., Entrata Inc., InnQuest Software Corporation, IQware Inc., RealPage Inc., Yardi Systems Inc., Building Engines Inc., Innago LLC, Spacewell International NV, ManageCasa Inc., Planon Corporation, Jones Lang LaSalle IP Inc., Tenant Cloud LLC, Rent Manager-London Computer Systems Inc., ResMan LLC, Total Management Inc., SS&C Technologies Inc., RentPost Inc., PropertyZar LLC, Archibus Inc., MRI Software LLC, International Business Machines Corporation, SAP SE, MAISONETTE Inc., DoorLoop Inc., CondoControl Inc., Hemlane Inc., SFR software solutions Co. Ltd.
The property management software market report table of contents includes:
- Executive Summary
- Property Management Software Market Characteristics
- Property Management Software Market Trends And Strategies
- Property Management Software Market – Macro Economic Scenario
- Global Property Management Software Market Size and Growth
- Property Management Software Market Segmentation
- Property Management Software Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Property Management Software Market
- Property Management Software Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Property Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Property Management Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Property Management Software Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………
Table 74: AppFolio Inc. Financial Performance
Table 75: Console Australia Pty Ltd. Financial Performance
Table 76: CoreLogic Inc. Financial Performance
Table 77: Entrata Inc. Financial Performance
Table 78: InnQuest Software Corporation Financial Performance
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