What is the global market size of Property Management Market?

Global Property Management Market size was valued at USD 3.04 billion in 2021 and is poised to grow from USD 3.15 billion in 2022 to USD 4.85 billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).

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 Dynamics

Property Management Market 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.

Property Management Market 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.

Global Property Management Market Report Snapshots

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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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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

Global Property Management Market Dynamics

Global Property Management Market Report Snapshots

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