How Has The Real Estate Software Market Size Evolved Historically?
The real estate software market has seen considerable growth due to a variety of factors.
• The market size for real estate software has exhibited significant growth in the previous years. This growth is expected to propel the market value from $11.71 billion in 2024 to $12.8 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%.
Factors such as market adoption, regulatory constraints, competitive scenarios, economic influences, and user inclinations have contributed to the expansion seen in the historical phase.
What is the Forecasted Growth of the Real Estate Software Market Size?
The real estate software market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the real estate software market size are optimistic as it's anticipated to experience swift expansion in the coming years. The market is projected to reach $19.58 billion by 2029, with a compound annual growth rate (CAGR) of 11.2%.
The projected growth during the forecast period can be accredited to factors such as demographic changes, user demands and expectations, overall economic trends worldwide, integration with various systems, and the rising trend of remote work and flexibility. The forecast period is also anticipated to witness significant trends, including emerging technologies, advancements in technology, mobile application, green and sustainable technologies, digital and automated processes, and the adoption of blockchain technology.
What Are The Core Factors Supporting Growth In Real Estate Software Market?
The upward trend in commercial and residential real estate ventures is anticipated to significantly contribute to the expansion of the real estate software market. Several major real estate enterprises are employing software solutions to minimize service disruptions, curtail human mistakes, efficiently allocate tasks for high-volume schemes, lessen communication barriers, and manage finances. For example, in December 2022, as per the information from the Stats NZ Tatauranga Aotearoa, a government-run data organization in New Zealand, there was a surge of 3.8% in building activities in September 2022. Additionally, the residential building sector saw a rise of 3.1% in the third quarter of 2022, while the non-residential building section experienced a 4.9% upsurge.
What Is The Segmentation Of The Global Real Estate Software Market?
The real estate software market covered in this report is segmented –
1) By Product: Enterprise Resource Planning (ERP), Property Management System (PMS), Customer Relationship Management (CRM)
2) By Deployment Type: Cloud, On-Premise
3) By Application: Commercial, Residential
Subsegments:
1) By Enterprise Resource Planning (ERP): Financial Management, Project Management, Supply Chain Management
2) By Property Management System (PMS): Tenant Management, Lease Tracking, Maintenance Management
3) By Customer Relationship Management (CRM): Lead Management, Sales Tracking, marketing Automation
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What Emerging Trends Are Shaping The Real Estate Software Market?
The rising utilization of artificial intelligence and machine learning is increasingly shaping the trends in the real estate software industry. AI empowers applications to aid real estate companies in a myriad of tasks such as marketing campaigns, property portfolio management, leasing, accounting, and operational processes among others. A cutting-edge implementation of AI in the property market is the advent of virtual tours. These tours are extended to properties that are in the construction phase or to overseas clients, affording them an immersive 3D view of the property. A case in point is reAlpha Tech Corp, a firm dedicated to the development and commercialization of AI in real estate, which in August 2024 unveiled reAlpha, a Super App for mobile gadgets. The Super App grants users an all-inclusive, no-charge real estate experience on mobile, thereby complementing its online platform. It harmoniously brings together Claire, reAlpha’s AI buyer’s agent, support from human licensed agents, and an assortment of home buying tools, including title and escrow agent services.
Who Are the Key Players in the Real Estate Software Market?
Major companies operating in the real estate software market include:
• Microsoft Corporation
• International Business Machines Corporation
• Oracle Corporation
• SAP SE
• Fiserv Inc.
• Constellation Software Inc.
• Dassault Systèmes SE
• Autodesk Inc.
• Trimble Inc.
• CoStar Group Inc.
• Zillow Group Inc.
• RealPage Inc.
• Yardi Systems Inc.
• Altus Group Ltd.
• AppFolio Inc.
• Entrata Inc.
• MRI Software LLC
• Redfin Corporation
• Buildertrend Solutions Inc.
• Accruent LLC
• Inside Real Estate LLC
• Propertybase LLC
• ServusConnect LLC
• AMTdirect LLC
• Procore Technologies Inc.
• CoreLogic Inc.
• Zoho Corporation Pvt Ltd.
• Newforma Inc.
What are the Regional Insights into the Real Estate Software Market?
North America was the largest region in the real estate software market in 2024. The regions covered in the real estate software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
