Real Estate Portfolio Management Solution Market Is Growing At A Phenomenal Pace To Reach USD 481.14 Million, Globally, By 2028 At 5.1% CAGR
According to analysts at Vantage Market Research, the Global Real Estate Portfolio Management Solution Market was valued at USD 1.33 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.1% between 2021 to 2028.
Real estate portfolio management refers to the way in which you can manage your assets with the proper utilization of real estate management software. It serves to be an important aspect for the day-to-day operation as well as for the long-term planning and is handled by different types of position such as property managers, real estate portfolio managers, facility managers and asset managers and are responsible to oversee multiple properties.
The market is driven by the utilization of cloud computing and software as a service integrated services which has been gaining acceptance over few years as a preferred method for delivering services. Moreover, real estate companies are data driven and the employees need to rely on up-to-date information to take crucial decision.
Moreover, due to COVID-19 the market has been significantly affected owing to the need of following the rules and norms imposed by the government mainly concerned with maintaining liquidity and value, keeping the environment safe for the visitors and customers, cleaning measures to adhere to the governmental regulation which has created a substantial impact on the overall market.
The market is expected to be hampered with the subsequent globalization as the property business globalizes there is an occurrence of high risk. Even with the increasing fraudulent activities seen with this business sector turns out to be a restrain for the growth of overall market.
Globally, the North American region is the highest capturer of the property management market and is expected to grow at the highest pace with an increasing external investment in the real estate sector in the forthcoming years.
However, Asia-Pacific region is also expected to grow at highest CAGR over the next few years owing to the increasing middle-class population that is leading to the increased consumption of the real estate facilities across the globe.
Major key players in the real estate portfolio management solution market are Microsoft Corporation, RealPage, Bentley Systems Inc. and AMSI Property Management.