In terms of revenue, the Global Property Management Market is expected to reach USD 29.1 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.5% from 2022 to 2028.
Property Management essentially refers to interacting directly with tenants or potential tenants. It also comprises real estate-related solutions and services. Property Management provides various services, including Consulting, Deployment and Integration, Support and Maintenance, and Others. The market is expanding due to the rising use of the software as a service (SaaS) model for Property Management. 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.
Key Highlights from Report:
· The Property Managers segment dominated the growth of the Property Management Market in 2021. This is explained by the rise in industrial buildings and real estate projects worldwide. Additionally, Property Management (PMS) aids brokers and property managers to keep track of all properties and required maintenance tasks. Thus, the market is expanding due to the rising trend of workplace mobility.
· The Residential segment accounted for dominating the growth of the Property Management Market in 2021. The rising real estate investments might be credited with this expansion. Single-family homes, multi-family homes/apartments, and other housing types make up the residential section. However, the commercial segment is anticipated to develop over the projected period quickly. One of the main drivers of the industry is the expanding business sector in the world.
· Asia Pacific is predicted to mention the fastest growth of the Property Management Market during the forecast period. Emerging nations are expanding swiftly. In terms of global middle-class expenditure, China, India, and Indonesia will increase in relative size. As a result, households could overspend on necessities, creating chances for real estate investment. As a result of the E-Commerce industry's explosive growth, the retail, shipping, and lodging sectors are undergoing significant transformation.
The growing presence of subscription-based SaaS solutions will result in a significant increase in Property Management Market share during the forecast. Major businesses have boosted their SaaS component investments to assist businesses in integrating advanced technologies. Additionally, real estate businesses have increased their investments in cutting-edge Property Management solutions to incorporate multi-vendor platforms into current systems. It is important to note that the expansion of the industry will be encouraged by the trend toward mobility management. To track attributes, cutting-edge solutions will be looked for.
North America is accounted to have potential growth in the Property Management Market during the forecast period. The growing use of Property Management services and solutions in residential and commercial settings is responsible for the biggest market share. Aside from that, significant technological advancements and the early adoption of advanced technology fuel regional market expansion. Among the region's key markets are the US and Canada. The market size is increasing due to the increasing integration of Property Management software in businesses, public agencies, and governments.
The Global Property Management Market is Segmented as follows:
- Lease Accounting & Real Estate Management
- Asset Maintenance Management
- Workspace & Relocation Management
- Reservation Management
- Deployment & Integration
- Support & Maintenance
- Service Level Agreement Management
- Deployment Mode
- End Users
- Property Managers
- Housing Associations
- Commercial Application
- Construction & Real Estate
- Others (Education & Industrial)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players in the Global Property Management Market is:
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 Global Property Management Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties 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|