United States Real Estate Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

North America holds the major market share in the outsourced facility management. Moreover, the global standard for integrated facility management services, building maintenance, and repair services are getting a digital revamp. Facility management holds a major share in real estate services, due to the adoption of new technology in the facility management to reduce operating costs and improve efficiency. As technology is increasing, people are looking for instant access, maintenance, and other workplace services. Facility management service providers are looking forward to investing in building construction and integrated services. Market players are outsourcing facility management services to capture the market and achieve strategic partnerships. US real estate has many residential and commercial buildings. Moreover, the adoption of new technology in real estate services to provide better services will drive the market during the forecast period.

US companies are adopting new technology to improve their services BY utilizing technology to create efficiencies and increase the property’s performance. Managers and owners are looking for technological innovations, like Internet of Things devices, such as thermostats, CCTVs, and smart locker storage, which are being broadly used.  Moreover, automation is becoming a critical component of the property management industry. Usage of technology by millennials is high. A recent survey stated that 42% of property managers are chosen to adopt new technologies to keep their properties relevant to today’s market. New products are offered by several companies, such as Buildium, AppFolio, Rentalutions, and VTS, these programs simplify and automate many previously paper-heavy functions, such as paying bills, collecting rents, and tracking maintenance performed.