Property Management Industry, Increased Use Industry Booming Worldwide, Demand Status and Explosive Factors And Forecasts To 2027
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Market Analysis
The Property
Management Industry will touch USD 21.4
billion at a 7.3% CAGR in the forecast period 2020- 2027, as per the new Market
Research Future (MRFR) analysis. Property management, simply put, is a software
application tool which helps real estate accountants, property owners, property
managers, and other stakeholders to efficiently manage rental properties. These
properties comprise residential and commercial spaces that are managed on the
owner’s behalf by the property manager. It helps to streamline daily tasks of
property managers thus reducing the overall cost and time invested to manage
the real estate business.
Various factors are fuelling the global property management
market size. As per the recent MRFR market estimates, such factors include the
growing adoption of SaaS model for property management, developing inclination
towards workplace mobility, rising demand for outsourcing services, increasing
investment in different technologies worldwide, introduction of cloud-based
deployment model, and increasing need to efficiently manage property portfolios
among property managers.
On the contrary, impact of the COVID-19 outbreak, lack of
skilled professionals and budget limitations for technological solutions may
limit the global property management market share over the forecast
period.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis
of the global property management market based on end user, application,
deployment, and component.
By component, the property management market is segmented into
services and solution. The service segment is again bifurcated into training
and maintenance services, consulting services, and integration services. Of
these, the solution segment will lead the market over the forecast
period.
By deployment, the property management market is segmented into
cloud-based solution and on-premise. Of these, the cloud-based solution will
dominate the market over the forecast period.
By application, the property management market is segmented into
commercial and residential. The commercial segment is again bifurcated into
office spaces, hospitality, retail, and others. Of these, the commercial
segment will spearhead the market over the forecast period.
By end user, the property management market is segmented into
housing association and property manager/agent. Of these, the property manager
will have the lions share in the market over the forecast period.
Regional Analysis
By region, the global property management market covers the
recent trends and growth opportunity across Europe, the Asia Pacific (APAC),
North America, South America, and the Middle East and Africa (MEA). Of these,
North America will remain the driving force in the market over the forecast
period. Increasing housing development, growing investments by real-estate
agents in different advanced technologies, the growing demand for property
management solutions among property managers in Mexico, Canada, and the US, the
surge in e-commerce, and the growing investments by key players are adding to
the global property management market growth in the region.
In Europe, the property management market is predicted to hold
the second-largest share over the forecast period. Growing focus of regional
players towards advance software is adding to the global property management
market growth in the region. The UK holds the utmost market share followed by
France and Germany.
In the APAC region, the property management market is predicted
to grow at a fast pace over the forecast period. The growing investment by
property managers and property management firms in different technologies like
electronic lease, accounting and bookkeeping, electronic payment solution,
property management software, and others are adding to the global property
management market growth in the region. Besides, increasing middle-class
population in Indonesia, India, and China, developing hotel, retail, and
logistics industry, technological advances, and the booming e-commerce industry
are also adding market growth.
The property management market in South America and the MEA is
predicted to have sound growth over the forecast period.
Key Players
The notable players profiled in the global property management
market report include Chetu Inc., Spacewell, Accruent, RealPage, Inc., Trimble
Inc., SAP, Oracle, IBM, AppFolio, Inc., Yardi Systems, Inc., Buildium, MRI
Software LLC, Rosmiman Software Corporation, Re-Leased Software Company Ltd,
and Skyline Property Management, among others.
Industry Updates
March 2021- MultiLiving has launched Propel app which is an
end-to-end property management application for homeowners.
Access
Report Details @ https://www.marketresearchfuture.com/reports/property-management-market-8553
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
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