USD 3.04 billion
Global Property Management Market Size, Share, Growth Analysis, By Deployment(Cloud, On-Premises), By Application(Residential (Multi-family Housing/ Apartments, Single-family Housing), By End-user(Housing Associations, Property Managers/ Agents) - Industry Forecast 2022-2028
Report ID: SQSG45F2032 | Region: Global | Published Date: November, 2022 | Pages: 165
Global Property Management Market Insights
Property Management market was valued at USD 3.04 billion in 2021, and the market size is estimated to reach USD 4.45 billion by 2028, at a CAGR of 5.60% over the forecast period (2022-2028).
The market for Property Management Software (PMS) is predicted to see an incremental increase due to rising demand for web-based services such as Software as a Service (SaaS) from property management software providers. A SaaS-enabled PMS aids in the management of daily activities such as tenant and lease tracking, building maintenance, and accounting, among other things. The program provides a single platform for viewing all properties as well as oversight of other property-related operations such as maintenance duties and tenant needs.
Among other applications, it primarily provides online document storage and sharing, electronic lease agreements, financial reporting, online maintenance requests and tracking, accounting capabilities, and integrated banking. PMS solutions have moved in recent years from manual to automation management solutions. The autonomous property management solution has enhanced the property management software system, reducing human errors and allowing property managers to quickly assign work assignments to avoid service interruptions. An automatic PMS aids in minimizing the time required to respond to tenant or owner concerns and grievances.
Market snapshot
Global Market Size
Largest Segment
Integration
Fastest Growth
Integration
Growth Rate
5.60% CAGR
Global Property Management Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Property Management Market Size by Services 2021-2028 ($ Mn)
Global Property Management Market Size by Services 2021-2028 (%)
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Global Property Management Market Segmental Analysis
The global Property Management market is segmented based on deployment, application, end-user, and region. Based on deployment, the Property Management market is segmented into Cloud, On-Premises. Based on application, the Property Management market is segmented into Residential (Multi-family Housing/ Apartments, Single-family Housing, Others), Commercial (Retail Spaces, Office Spaces, Hotels, Others). Based on end-user, the Property Management market is segmented into Housing Associations, Property Managers/ Agents, Property Investors, Others. Based on region, the Property Management market is categorized into North America, Europe, Asia-Pacific, and MEA.
Analysis by deployment
The cloud segment accounted for more than 50% of revenue in 2021 and is predicted to maintain its dominance throughout the forecast period. This is due to the increasing acceptance of cloud deployment among various end users such as property managers, housing associations, and corporate occupiers. Scalability, ease of use, cost-effectiveness, and fewer tenant disputes are all motivating small, medium, and large businesses to adopt cloud-based property management solutions. Additionally, cloud-based PMS software provides backup and seamless data integration, which aids in data loss prevention. Furthermore, it saves property managers both indirect expenses of money collection and direct costs associated with automating a labor-intensive activity. Over the projection period, the on-premise deployment segment is predicted to increase at a rapid pace. This is due to the accompanying advantages, such as ownership and control over hardware, as well as a higher level of data protection than cloud-based PMS software. Furthermore, on-premise PMS allows for customisation based on company or user requirements. The benefits of on-premises deployment described above are helping to drive segment expansion.
Global Property Management Market By Services, 2021 (%)
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Global Property Management Market Regional Insights
In 2021, North America held the highest revenue share of more than 60% in the global property management market share. This is due to the presence of major players in the region. The United States currently dominates the North America regional market due to an increasing number of hotel rooms in the country. In 2021, Europe held the second-largest share in the global property management market. The presence of a large number of commercial and residential buildings, as well as a high level of digitization in the region, can be credited to the region's growth.
The Asia Pacific market is expected to grow at an exponential CAGR. Emerging economies are rapidly expanding. China, India, and Indonesia, in particular, will expand in relative size in terms of global middle-class consumption. As a result, households may spend more than their essential needs, creating chances for real estate investment. The retail, shipping, and hotel industries are all undergoing significant transformation as a result of the growing demands brought on by the rapid rise of e-commerce. Similarly, co-working and shared workplaces have spread across Asia Pacific in recent years, giving the traditional serviced-office market a technology edge while generating strong returns for landlords.
Global Property Management Market By Geography, 2021 - 2028
- Largest
- Fastest
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Global Property Management Market Dynamics
Driver
- Property management SaaS models are becoming increasingly popular
One of the most significant developments in the software business has been the introduction of cloud technology. The cloud has had a significant impact on how software applications are run and distributed to clients. This development has allowed software developers to focus more on the technology component of software while outsourcing management to cloud service providers. SaaS software allows users to pay per use and terminate services whenever they wish. SaaS software allows large multifamily property management companies to quickly integrate several types of technologies across their portfolio. Furthermore, the SaaS model is useful in enabling multi-vendor software compatibility with legacy systems. Furthermore, SaaS platforms enable property managers to combine their property management solutions with modern payment solutions for simple and seamless transactions.
Restraint
- Budget constraints for technological solutions
The global real estate industry has seen significant volatility in recent years. The worldwide slump of 2008 has had a long-term impact, particularly on the real estate business. Though the market has witnessed some stability and growth since 2012, it is still very volatile due to the large mismatch in the population versus real estate index. These reasons are discouraging investors from entering the property management business.
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Global Property Management Market Competitive Landscape
The global property management suppliers are concentrating on new product development, which helps to strengthen their market position. Companies provide targeted solutions for owners and managers looking to expand their market penetration. Entrata, Inc. is a multinational corporation that provides software and data analytics solutions to real estate organizations. Owners and property managers benefit from the company's solutions for managing residential, commercial, and hotel properties. Because of its excellent SaaS solutions, the company has emerged as a leading market provider of candidate screening, revenue management, and utility management. These companies are focusing their efforts on the commercial sector of the market in order to give property managers and agents with current and effective solutions.
Top Players Company Profiles
- IBM (US)
- Hitachi Vantara (US)
- JLL (US)
- Oracle (US)
- SAP (Germany)
- Trimble (US)
- RealPage (US)
- AppFolio (US)
- Yardi (US)
- MCS Solutions (Belgium)
- ARCHIBUS (US)
Recent Development
- In December 2021, Aurum PropTech will invest $5 million to acquire a majority share in B2B SaaS firm TheHouseMonk. The startup is in the rental real estate business. It intends to use the funds raised to expand into Europe and the United States, as well as to strengthen its position in Asia, which is now its key market. TheHouseMonk also intends to expand its tech staff in order to develop superior artificial intelligence/machine learning (AI/ML) skills and broaden its product offering.
- In August 2021, Plentific, a property management platform, raises $100 million. Plentific, a property management platform located in London, has secured $100 million in a Series C investment. Aside from a substantial push into the US market, the business intends to invest in a variety of additional product offerings, including new AI capabilities. The firm has raised $141 million in five rounds of funding.
- In April 2021, Entrata Inc. announced the addition of Alexa to its residential property management system. With voice-controlled smart homes, property managers may manage or set up Alexa enabled gadgets in every unit.
Global Property Management Key Market Trends
- Growing opportunity in hotel property management is a growing trend in property management market. Due to the stressful nature of owning and running a hotel, hotel property management is one of the fastest-growing areas in the property management business, as demand far outpaces new supply. A rising number of hotel owners are eager to offload the stress and use the services of the United States' already developed property management business. Hotel owners are quickly realizing the advantages of property management services and direct labor, which includes revenue management, human resources, accounting, and marketing. Because property management businesses have several clients, all of this is available at a low cost. The market opportunity is enormous, allowing providers to swiftly enhance their services and expand their client base.
Global Property Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our global property management market analysis, Property management systems and associated services are enabling property managers and other affiliated professionals to manage and maintain property-related operations more efficiently and cost-effectively. Traditionally, property owners or landlords either hire third-party property managers or manage their properties themselves, which demands a significant commitment of time and personnel. The widespread availability of dependable online and standalone property management software has eased and automated the responsibilities of property managers and owners.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 3.04 billion |
| Market size value in 2028 | USD 4.45 billion |
| Growth Rate | 5.60% |
| Base year | 2021 |
| Forecast period | 2022-2028 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Property Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Property Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Property Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Property Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Property Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Property Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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