Global Property Management Market Rising at 8.8% CAGR to 2023

“The property management market size to grow at a Compound Annual Growth Rate of 8.8% during the forecast period.”

The global property management market size is expected to grow from USD 14.47 billion in 2018 to USD 22.04 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period. Major growth factors for the market include an increasing demand for real estate and smart building projects and demand for SaaS model of property management. However, budget constraints for deploying technological solution could restrain the market growth.

 

Request a Free Sample copy of This Premium Research Report:  https://watchersofmarkets.com/products/property-management-market-by-component-solutions-and-services-solution-lease-accounting-real-estate-management-asset-maintenance-management-reservation-management-service-deployment-end-user-application-and-region-global-forecast-to-2023#tab-questions

 

“Services component segment to grow at a higher CAGR during the forecast period”

The services segment plays a key role in the property management market, as property management services help property caretakers and enterprises in reducing their operational costs, automating and handling property management tasks, increasing overall revenue, and improving performance. The upsurge in real estate and smart city projects mandates the critical need for reliable and cost-effective property management software solution and its associated services to manage properties. Services provide customized offerings to commercial customers, including property managers, housing associations, and enterprises. They help organizations across application areas for effectively improving the performance and agility of their properties and facilities.

 

“North America to hold the largest market size, and Asia Pacific to grow at the highest rate during the forecast period.”

North America is expected to hold the largest market size in the global property management market, as it is a technologically advanced region. Top countries contributing to the property management market in the region include the US and Canada. Moreover, many technological innovators, such as IBM, Oracle, ARCHIBUS, Trimble, and Accruent, are headquartered in the region. The leading vendors in the market are focusing on introducing technically advanced solutions to attain cost effectiveness. The already developed infrastructure and the increasing commercial and residential real estate demands in this region could spur the demand for property management solutions. Technological advancements and the growth in rental demands will boost the growth of the property management market in the region.

 

APAC is projected to grow at the highest CAGR during the forecast period. The growing economies, such as China and India, in the region achieving a real Gross Domestic Product (GDP) growth of 6–7% Y-o-Y, and the rise in demand for investments in the infrastructure sector, including commercial and real estate properties, have attracted of many global property management vendors, such as MCS Solutions, Yardi, and JLL to provide their solutions in the APAC region. Also, many global technical players are expanding their footprint in Asian countries such as India, Singapore, and China. This has led this region’s property vendors to enhance their capabilities in their automation solutions to meet the requirements of the increasing number of properties in the APAC region. The rapid growth of the commercial and real estate industry is creating opportunities for property management solution providers in the region.

 

Read More about this report: https://watchersofmarkets.com/products/property-management-market-by-component-solutions-and-services-solution-lease-accounting-real-estate-management-asset-maintenance-management-reservation-management-service-deployment-end-user-application-and-region-global-forecast-to-2023

 

In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.

 

The break-up of profiles of primary participants is as follows:

  • By Company: Tier 1 – 30 , Tier 2 – 40, and Tier 3 – 30%
  • By Designation: C-Level – 72%, Director Level – 14%, and Others – 14%
  • By Region: North America – 57%, Europe – 14%, APAC, and ROW – 29%

 

The property management market includes major vendors, such as IBM (US), Hitachi Vantara (US), JLL (US), Oracle (US), SAP (Germany), Trimble (US), RealPage (US), AppFolio (US), Yardi (US), MCS Solutions (Belgium), and ARCHIBUS (US). The other players include FSI (UK), Planon (Netherlands), Accruent (US), Entrata (US), iOFFICE (US), Indus Systems (US), Total Management (US), Rentec Direct (US), PMX Dynamics (Canada), Hemlane (US), Property Boulevard (US), OfficeSpace (US), CIC (US), Archidata (Canada), and Buildium (US).

 

Related Report:

Global Property Management Software Market Analysis 2012-2017 and Forecast 2018-2023

Property management software helps property managers manage their daily operations. These operations include tenant and lease tracking, accounting, and building maintenance. The software solution provides property managers a centralized platform to view all their properties. It also ensures the progress of other property-related operations such as supervising maintenance tasks and addressing the needs of tenants.

The global Property Management Software market will reach xxx Million USD in 2017. 99Strategy said Commercial dominates the largest Application share in 2017. The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Property Management Software by Type, region and Application, in addition, this report introduces market competition situation among the companies and company profile, besides, market price analysis and value chain features are covered in this report.

Read More: https://watchersofmarkets.com/products/global-property-management-software-market-analysis-2012-2017-and-forecast-2018-2023

About Us:

We are a leading market research store (headquartered in The Hague, Netherlands) bringing to you market research insights, analysis and data from many market research publishers around the globe.

Our experienced market research consultants understand a client’s research requirements in precise manner and get as many proposals around the globe as possible on the table suiting your budget and mapping your research goals.

Our only motivation is to provide clients with precise insights into their respective niche markets and offering them the most comprehensive portfolio of business information products.

 

Contact:

Watchers of Markets

Henriëtte van der Meydreef 144,2492 JG, Den Haag, Netherlands.

Website: https://watchersofmarkets.com/

Phone number: +31- 85 888 111 6

Email Id : [email protected]

Posted by on Saturday August 11 2018, 5:30 AM EST. All trademarks acknowledged. Filed under Business & Financial Services, Business Services, Construction, Featured Press Release, Household, Luxury Goods, Manufacturing, Manufacturing & Construction, Technology Hardware & Equipment, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

Comments are closed

News Categories

Featured Press Releases

Latest News

Log in