What Has Been The Historical And Current Growth Of The Property Management Software Market?
The property management software market has seen considerable growth due to a variety of factors.
• In recent years, there has been a significant increase in the size of the property management software market. The market, which is currently valued at $6.07 billion in 2024, is forecasted to rise to $6.67 billion in 2025, with a compound annual growth rate (CAGR) of 9.9%.
The surge during the historical period can be associated with various factors such as efficiencies and time savings, remote property management, fiscal management, tenant and lease administration, as well as compliance and regulatory measures combined with user-friendly interfaces.
What Is The Forecast For The Property Management Software Market By 2029?
The property management software market is expected to maintain its strong growth trajectory in upcoming years.
• In the approaching years, a swift expansion is predicted for the property management software market, with the market size forecasted to reach $9.79 billion by 2029, boasting a compound annual growth rate (CAGR) of 10.0%.
Factors driving this growth during the predicted period include customer relationship management, predictive maintenance solutions, energy efficiency and sustainability, self-service tenant portals, dynamic pricing strategies, and advanced reporting and analytics. The period is also expected to see trending developments such as integration with smart buildings, the rise of virtual tours and 3D visualization, the dominance of cloud-based solutions, the expansion of property management on a global and multinational scale, advanced reporting and business intelligence, and dynamic pricing strategies.
What Are The Essential Drivers Behind The Growth Of The Property Management Software Market?
The upsurge in smart city investments is anticipated to fuel the expansion of the property management software market in the forecast duration. Governments globally are funding the development of smart cities, which utilise information and communication technologies for the effective management and operation of public services, thereby necessitating efficient property management. The European Union is actively endorsing smart city projects, providing research funds and setting sustainability goals for its members. The smart city concept is also gaining traction in developing countries. For instance, over 1,000 smart city pilot schemes globally are either ready or under construction, with roughly 500 of them based in China. Consequently, the investment in smart cities is expected to stimulate the property management software market growth.
How Is The Global Property Management Software Market Divided Into Key Segments?
The property management software market covered in this report is segmented –
1) By Deployment: Cloud, On-premise
2) By Application: Residential, Commercial
3) By End-User: Housing Associations, Property Managers Or Agents, Property Investors, Other End-Users
Subsegments:
1) By Cloud: Public Cloud, Private Cloud, Hybrid Cloud
2) By On-premise: Self-hosted Solutions, Dedicated Servers
Pre-Book The Property Management Software Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Overview Market?
The growing significance of artificial intelligence (AI) enabled applications in the property management software market has emerged as a notable trend. These AI applications aid real estate firms in various functions like managing property portfolios, conducting marketing campaigns, leasing, accounting, operations, among others. As an illustration, Guesty, a property management software platform based in Israel, unveiled two AI infused features - an AI-driven website builder and ReviewSmart AI - in September 2024. Guesty's AI Assistant facilitates property managers in constructing websites with the help of generative AI to expedite the process. Meanwhile, ReviewSmart AI serves as an intelligent analysis tool that translates negative guest reviews into practicable insights. This innovative tool not only automates the review evaluation process thereby saving time, but also assists property managers in making informed decisions aimed at enhancing operations for improved guest contentment.
Who Are the Key Players in the Property Management Software Market?
Major companies operating in the property management software market include:
• AppFolio Inc.
• Console Australia Pty Ltd.
• CoreLogic Inc.
• Entrata Inc.
• InnQuest Software Corporation
• IQware Inc.
• RealPage Inc.
• Yardi Systems Inc.
• Building Engines Inc.
• Innago LLC
• Spacewell International NV
• ManageCasa Inc.
• Planon Corporation
• Jones Lang LaSalle IP Inc.
• Tenant Cloud LLC
• Rent Manager-London Computer Systems Inc.
• ResMan LLC
• Total Management Inc.
• SS&C Technologies Inc.
• RentPost Inc.
• PropertyZar LLC
• Archibus Inc.
• MRI Software LLC
• International Business Machines Corporation
• SAP SE
• MAISONETTE Inc.
• DoorLoop Inc.
• CondoControl Inc.
• Hemlane Inc.
• SFR software solutions Co. Ltd.
What are the Regional Insights into the Property Management Software Market?
North America was the largest region in the property management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the property management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
