Property Management Market
Property Management Market - Global Industry Assessment & Forecast
- By Component Solution, Services
- By Solution Lease Accounting & Real Estate Management, Asset Maintenance Management, Workspace & Relocation Management, Reservation Management
- By Service Deployment & Integration, Consulting, Support & Maintenance, Service Level Agreement Management
- By Deployment Mode Cloud, On-Premises
- By End Users Property Managers, Housing Associations
- By Application Commercial, Residential
- By Commercial Application Construction & Real Estate, Government, Retail, Hospitality, Others (Education & Industrial)
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 17.3 Billion|
|Revenue 2028:||USD 29.1 Billion|
|Revenue CAGR (2022 - 2028):||9.5%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
The Global Property Management Market was valued USD 17.3 Billion in 2021 and is anticipated to reach a value of USD 29.1 Billion by 2028. The Global Market is forecasted to grow by exhibiting a Compound Annual Growth Rate (CAGR) of 9.5% over the forecast period.
Property Management essentially refers to interacting directly with tenants or potential tenants. It also comprises real estate-related solutions and services. Property management solutions provide a variety of services. These include Consulting, Deployment & Connectivity, and Development & Support to name a few. In addition, solutions like Asset Maintenance Management, Lease Accounting, Real Estate Management, Booking Management, and Other are also part of the solutions. The market is growing due to the rapid rise in the use of the software as a service (SaaS) model for property management.
Property Management Market Size, 2021 To 2028 (USD Billion)
Additionally, growing workplace mobility trends and increased demand for outsourced services are some additional aspects helping the industry. The market for Property Management systems has seen growth recently due to increased demand from property managers for effective portfolio management. The market is also driven by the advent of SaaS-based solutions and growing demand for them, along with increased global investment in different technologies.
Additionally, Property Management software aids users in keeping track of, controlling, and evaluating various elements of residential and commercial properties. Tenant rent, documentation and lease management, asset tracking, and financial accounting are a few examples. These services open up the market for property maintenance. Businesses are embracing virtual workspaces to increase flexibility and better use their office space by substantially reducing the amount of physical equipment they need. Many companies desire integrated facilities management solutions for the workplace, mobility, and other challenges. Related real estate agents and property managers can use these tools to keep track of all the properties they manage and the required routine maintenance. The growing tendency of workforce mobility thereby benefits the asset management sector.
The Property Management market is segmented based on Component, Solution, Service, Deployment, End-User, Application, Commercial Application, and Region. Based on the Component segment, the market is further bifurcated into Solutions and Services. Furthermore, based on the Solution, the market is further divided into Lease Accounting, Asset Maintenance Management, Workspace & Relocation Management, and Reservation Management. In addition, based on Service, the market is further bifurcated into Deployment & Integration, Consulting, Support & Maintenance, and Service Level Agreement Management. Furthermore, based on the Deployment, the market is further divided into Cloud and On-Premises. Likewise, based on End Users, the market is segmented into Property Managers and Housing Associations. Moreover, based on the Application segment, the market is further divided into Commercial and Residential. In addition, based on Commercial Application, the market is further divided into Construction & Real Estate, Government, Retail, Hospitality, and Others (Education and Industrial).
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Based on Deployment Mode:
The Cloud-Based industry is anticipated to have more significant market expansion during the forecast period. Property Managers can keep all documents, including legal contracts, tenancy agreements, and contract Service Level Agreements (SLAs), in a single platform using Cloud-Based software at a low cost. Enhanced security is also a benefit of Cloud-Based applications, which is anticipated to expand the market in the forecast period further.
Based on End User:
The Property Managers segment’s main objective is to increase their buildings' energy efficiency and productivity for both users and operators. To improve the property life cycle, Property Management companies can incorporate Building Information Modeling (BIM) with their management solutions. BIM is a method for employing computer models for building design, construction, operation, and maintenance in place of several sets of various tools and papers.
Asia Pacific is projected to Expand at the highest CAGR during the Forecast Period
Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The Asia Pacific market is forecast to be substantial due to the rising middle-class populations in China, India, and Indonesia. The logistics, retail, and hotel sectors have seen a paradigm shift. In addition, the increasing growth of the housing sector is encouraging large companies planning to diversify their business lines. Increasing personal income and population expansion are a few other secondary market growth factors.
The key players in the Global Property Management Market include- IBM (US), Hitachi Vantara (US), JLL (US), Oracle (US), SAP (Germany), Trimble (US), RealPage (US), AppFolio (US), Yardi (US), MCS Solutions (Belgium), ARCHIBUS (US), 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), Buildium (US) and others.
Segmentation of the Global Property Management Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
The global Property Management valued at USD 17.3 Billion in 2020 and is expected to reach USD 29.1 Billion in 2028 growing at a CAGR of 9.5%.
The prominent players in the market are IBM (US), Hitachi Vantara (US), JLL (US), Oracle (US), SAP (Germany), Trimble (US), RealPage (US), AppFolio (US), Yardi (US), MCS Solutions (Belgium), ARCHIBUS (US), 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), Buildium (US).
The market is project to grow at a CAGR of 9.5% between 2021 and 2028.
The driving factors of the Property Management include
- Increasing Demand for SaaS Model of Property Management
North America was the leading regional segment of the Property Management in 2020.