What are the Historical Developments and Current Growth Metrics of the Property Management Market?
The property management market has seen considerable growth due to a variety of factors.
• The size of the property management market has witnessed robust expansion in the last few years. It is projected to escalate from $21.17 billion in 2024 to $23.21 billion in 2025, registering a compound annual growth rate (CAGR) of 9.6%.
The surge during the historic phase is as a result of increased urbanization, higher demand for lease properties, fluctuations in economic cycles, changes in legislation, shifts in demography, and alterations in social and cultural aspects.
What Does Future Hold for The Property Management Market By 2029?
The property management market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for property management is projected to witness robust growth in the following years, expanding to a value of $33.11 billion by 2029 with a compound annual growth rate (CAGR) of 9.3%.
Factors contributing to this growth during the forecast period include enhanced tenant relationships, improvements in lease management, environmental concerns, the surge in remote work, and increased property inspections. Key trends forecasted for this period consist of data analytics, predictive insights, remote property management, adaptable lease agreements, intelligent buildings, incorporation of Internet of Things (IoT), and cost-effective housing solutions.
What Are The Primary Growth Drivers In The Property Management Market?
The property management market's expansion is projected to be driven by escalating real estate investments. Real estate investment encompasses the purchase, ownership, handling, leasing, or selling of property to earn profits. This may include several forms of properties, such as residential, commercial, industrial, or arable land. Increased real estate investments result from low borrowing rates, burgeoning demand for property assets, and a positive economic landscape. Investors broaden their portfolios and leverage the potential yields of real estate through the use of expert property management services. These services mediate everyday operations, tenant dealings, upkeep, fiscal management, and enhancement of property value. For example, a report by CBRE Group Inc., a premier real estate company in the US, revealed in June 2024 that North American investors have been the dominant net investors from 2022 onwards, with purchases exceeding sales by over $10 billion. In the first quarter of 2024, they invested $3.2 billion into UK real estate, stimulated by a robust US dollar. Simultaneously, Asian investors also contributed significantly, with acquisitions surpassing sales by more than $7.5 billion during the same timeframe. Consequently, growing real estate investments are fueling the property management market's development.
What Is The Segmentation Of The Global Property Management Market?
The property management market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Application: Residential, Commercial, Other Applications
4) By End-User: Housing Associations, Property Managers And Agents, Property Investors, Other End-Users
Subsegments:
1) By Solutions: Property Management Software, Tenant Management Solutions, Lease Management Solutions, Facility Management Solutions, Accounting And Financial Management Solutions, Maintenance Management Solutions
2) By Services: Property Leasing Services, Maintenance And Repair Services, Property marketing And Advertising Services, Tenant Screening And Recruitment Services, Property Inspection Services, Consulting And Advisory Services
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How Are Emerging Trends Reshaping The Dynamics Of The Property Management Market?
Key players in the property management market are prioritizing the development of advanced technology systems such as solutions for vacation property management. These systems are designed to aid property owners in the efficient and effective management of their holiday rental properties, with a suite of tools specifically targeting vacation rental management services. For example, Streamline VRS, a property management software company from the U.S., introduced Streamline One in October 2023. This innovative all-encompassing solution is designed specifically for property managers in the holiday rental sector. All-inclusive solutions such as property administration software, CRM (customer relationship management), homeowner acquisition, revenue administration, payment and guest verification, mobile solutions, insurance, website and marketing, call solutions, and training resources are provided by the platform. These comprehensive tools are designed to enhance operational efficiency and business growth.
Who Are the Key Players In The Property Management Market?
Major companies operating in the property management market are:
• Vanke Co. Ltd.
• International Business Machines Corporation
• Evergrande Group
• SAP SE
• Jones Lang LaSalle Incorporated
• Poly Property Group Co. Ltd.
• Colliers International Group Inc.
• Trimble Inc.
• Mapletree Investments Pte Ltd.
• Savills Singapore Pte Ltd.
• Yardi Systems Inc.
• RealPage Inc.
• AppFolio Inc.
• Entrata Inc.
• Southern Management Corporation
• Quintessentially Estates Limited
• Abacus Group LLC
• Lee & Associates Commercial Real Estate Services Inc.
• Marsh & Parsons Limited
• Summit Management Services Inc.
• Blue Sky Luxury
• Archibus Inc.
• Rhodo Property & Estate Management Services
• Rently Inc.
• Premier Property Management Services
• Elda Management Services Inc.
• Advantage Property Management Services
• Alpha Property Management Services LLC
• Rosen Management Services
• Orchard Block Management Services
What Are The Regional Insights Into The Property Management Market?
North America was the largest region in the property management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the property management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
