Global Property Management Market

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 2024-2031

Report ID: SQSG45F2032 | Region: Global | Published Date: February, 2024
Pages: 270 | Tables: 94 | Figures: 75

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.

Property Management Market Top Players Company Profiles

  • CBRE Group, Inc.
  • JLL
  • Cushman & Wakefield plc
  • Colliers International Group Inc.
  • Savills plc
  • Knight Frank LLP
  • Newmark Group, Inc.
  • BNP Paribas Real Estate
  • Hines
  • Eastdil Secured, LLC
  • Avison Young
  • Tishman Speyer
  • Brookfield Asset Management Inc.
  • Greystar Real Estate Partners
  • Prologis, Inc.
  • Lincoln Property Company
  • FirstService Corporation
  • KKR & Co. L.P.
  • Lendlease Group

Property Management Market 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.
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FAQs

Global Property Management Market size was valued at USD 3.04 billion in 2019 and is poised to grow from USD 3.15 billion in 2023 to USD 4.85 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

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. 'CBRE Group, Inc.', 'JLL ', 'Cushman & Wakefield plc', 'Colliers International Group Inc.', 'Savills plc', 'Knight Frank LLP', 'Newmark Group, Inc.', 'BNP Paribas Real Estate', 'Hines', 'Eastdil Secured, LLC', 'Avison Young', 'Tishman Speyer', 'Brookfield Asset Management Inc.', 'Greystar Real Estate Partners', 'Prologis, Inc.', 'Lincoln Property Company', 'FirstService Corporation', 'KKR & Co. L.P.', 'Lendlease Group'

Property management SaaS models are becoming increasingly popular

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.

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.

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