Property Management Software Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Property Management Software Market Analysis
Global Property Management Software Market is expected to register a CAGR greater than 5% over the next 5 years. Different software has been developed to handle maintenance, repairs, and ongoing property administration. Still, PMS is gaining popularity because it provides a framework for property owners to achieve their goals. Property management software providers are increasingly adopting AI to gain a competitive edge in the market. AI supports a multiverse of activities in the property management sector, from automating renter communication and lead generation to screening pre-qualified and interested potential clientele.
The real estate industry experienced both a surge and a decline at the same time during the pandemic. During COVID-19, real estate property sales decreased, corporate offices, schools, and colleges closed, and businesses opted for the work-from-home option. On the contrary, the pandemic allowed property managers to introduce and use new automation tools, such as smart and AI-enabled property management software. The AI-enabled management tool collected data via Wi-Fi responded automatically to leads, reduced operational risks, and improved customer service.
Property Management Software Market Trends
Increasing Demand for SaaS-based Property Management Software
Cloud-based property management software has many benefits, such as scalability, multiple property management, etc. This offers an additional benefit over the on-premises deployed and that software with limitations regarding the operation software high cost. The increase in demand for web-based services across the globe, such as software as a service technology, is augmenting the overall growth of the market to a great extent. SaaS-enabled PMS (Property Management Systems) helps to manage daily operations efficiently, such as building maintenance, tenant and lease tracking, accounting, etc. This software provides a centralized platform for thoroughly viewing all the properties and enables supervision regarding other property-related operations, such as addressing the various requirements of the tenants and maintenance tasks. The SaaS market is booming day by day, as a result of which more & more companies are choosing SaaS technology to be a long-term part of their respective businesses.
Streamlining of Property Management Tasks and Real Estate Investment Management
An app-based software solution, property management software assists property managers in automating administration, finance, and back-office operations. These software solutions offer functionalities like online payment processing, electronic leases, document storage, and service tracking. This software can be used by various clients, ranging from independent landlords to commercial multiplexes & building owners overseeing several thousand units. The rising development of smart real estate infrastructure and growing dependency upon one platform approach has driven the market's growth. Additionally, property owners and managers emphasize collecting and maintaining property information for enhanced data administration and accessibility with the help of centralized property management software. However, a lack of awareness regarding optimal software solutions is the prime factor restraining market growth.
Property Management Software Industry Overview
Key players in the property management software market focus on new product launches and product enhancements with the technology vendors to offer innovative solutions for sustained business growth. The major players are IBM, Oracle, AppFolio, Inc., Entrata, Inc, InnQuest Software, CoreLogic, Console Australia Pty. Ltd, IQware Inc., RealPage, Inc, and REI Master.
Property Management Software Market Leaders
IBM
Oracle
AppFolio, Inc.
Entrata, Inc
InnQuest Software
*Disclaimer: Major Players sorted in no particular order
Property Management Software Market News
- April 2021: Entrata Inc. announced the integration of Alexa for residential properties in April 2021. Property managers can use this interface to manage or set up Alexa-enabled gadgets in each unit, allowing for voice-controlled smart homes.
- Dec 2021: Oracle Corporation announced that its newly launched OPERA Cloud Property Management Software System is on the verge of getting implemented across hotels worldwide. Hotels around the globe are checking into Oracle Hospitality OPERA Cloud property management software system (PMS) to improve their operations further and deliver great guest experiences.
Property Management Software Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
4.5 Impact of COVID-19 on the Market
4.6 Insights on Latest Trends and Technological Innovations in the Industry
5. MARKET SEGMENTATION
5.1 Development
5.1.1 On-Premises
5.1.2 Cloud-Based
5.2 Application
5.2.1 Residential
5.2.2 Commercial
5.3 End User
5.3.1 Housing Associations
5.3.2 Property Managers/ Agents
5.3.3 Property Investors
5.4 Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Rest of the world
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 IBM
6.2.2 Oracle
6.2.3 AppFolio, Inc.
6.2.4 Entrata, Inc
6.2.5 InnQuest Software
6.2.6 CoreLogic
6.2.7 Console Australia Pty. Ltd
6.2.8 IQware Inc.,
6.2.9 RealPage, Inc
6.2.10 REI Master.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Property Management Software Industry Segmentation
Global Property Management Software helps property managers to manage residential and commercial properties in their daily operations. This report aims to provide a detailed analysis of Global Property Management Software. The report focuses on the market dynamics, emerging trends in the segments, and insights into various product and application types. It also analyzes the key players and the competitive landscape and regions. Global Property Management Software Market is segmented by development (On-Premises, Cloud-Based), application (Residential, Commercial), end-user (Housing Associations, Property Managers/ Agents, Property Investors, Others), and region (North America, Europe, Asia Pacific, and rest of the world). The report offers market size and values in (USD billion) during the forecast years for the above segments.
| Development | |
| On-Premises | |
| Cloud-Based |
| Application | |
| Residential | |
| Commercial |
| End User | |
| Housing Associations | |
| Property Managers/ Agents | |
| Property Investors |
| Region | |
| North America | |
| Europe | |
| Asia Pacific | |
| Rest of the world |
Property Management Software Market Research FAQs
What is the current Property Management Software Market size?
The Property Management Software Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Property Management Software Market?
IBM , Oracle, AppFolio, Inc., Entrata, Inc and InnQuest Software are the major companies operating in the Property Management Software Market.
What years does this Property Management Software Market cover?
The report covers the Property Management Software Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Property Management Software Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Property Management Software Industry Report
Statistics for the 2024 Property Management Software market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Property Management Software analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
