Global Real Estate Software Market

Real Estate Software Market Size, Share, Growth Analysis, By Type (Customer Relationship Management Software, Enterprise Resource Planning Software), By Deployment (Cloud, On-premise), By End-use (Architects & Engineers, Project Managers), By Application (Commerical, and Residential), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45E2184 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 90 | Figures: 76

Real Estate Software Market Insights

Global Real Estate Software Market size was valued at USD 10.1 billion in 2022 and is poised to grow from USD 11.40 billion in 2023 to USD 30.10 billion by 2031, growing at a CAGR of 12.90% during the forecast period (2024-2031).

Real estate software is made to aid realtors and real estate agents with all the tasks that make up a typical day at work. Finding new real estate lead sources, gathering and centralizing contact information, doing email and phone outreach, promoting oneself and one's brand, monitoring the regional and national housing markets, selling properties, and closing deals are some examples of this. Real estate software's main objective is to make agents' lives simpler, more efficient, organized, and productive so they can concentrate on what they do effectively.

Real estate software helps businesses become more productive as they work on numerous projects like websites, online advertising, and social media, which raises the demand for effective software solutions. The market for real estate software has recently benefited from factors like the rising digitization of real estate enterprises and advancements in automation technology. Additionally, businesses are being encouraged to implement different software solutions to increase client retention due to the requirement for greater protection of sensitive data and improved data management strategies.

US Real Estate Software Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Real Estate Software Market size was valued at USD 10.1 billion in 2022 and is poised to grow from USD 11.40 billion in 2023 to USD 30.10 billion by 2031, growing at a CAGR of 12.90% during the forecast period (2024-2031).

Global Real Estate Software market is relatively fragmented, with a high level of competition. The main strategies of the competitors in the Real Estate Software Market are partnerships, acquisitions, and product releases. Product Launches are one of the main techniques used by industry players. Microsoft Corporation is the market leader in real estate software, according on the analysis shown in the Cardinal matrix. CoStar Group, Inc., SAP SE, and Altus Group Ltd. are a few of the leading market inventors. 'Altus Group Ltd. (Canada) ', ' ', ' ', ' ', 'Autodesk Inc. (US) ', 'CoStar Realty Information Inc. (US) ', 'Microsoft Corporation (US) ', 'MRI Software LLC (US) ', 'Oracle Corporation (US) ', 'SAP SE (Germany) ', 'SMR Group (UK) ', 'Trimble Inc. (US) ', 'Yardi Systems, Inc. (US) ', 'Procore Technologies, Inc. (US) ', 'AppFolio, Inc. (US) ', 'Zillow Group, Inc. (US) ', 'Rentlytics (US) ', 'Cresa (US) ', 'ResMan (US) ', 'Brokermint (US) ', 'RealEstateMall (US) ', 'VTS (US) ', 'TenantCloud (US) ', 'SpaceIQ (US)'

Due to the ability to enhance business productivity standards, real estate software has been more and more in demand, which has significantly contributed to the market's growth. Since the real estate industry must operate in many different sectors, including websites, online marketing, social media, and many others, there is a greater need for effective real estate management solutions. Due to the growing number of clients and requirements, it is also time-consuming to manually create and manage individual accounts for each work location. As a result, organizations highly depend on real estate software, which raises productivity standards for businesses.

The use of machine learning and artificial intelligence is a developing trend in the real estate software industry. Applications powered by artificial intelligence (AI) are helping real estate organizations with marketing initiatives, property portfolio management, leasing, accounting, operations, and many other tasks. Virtual tours are one of the most recent advancements in AI for the real estate business. For houses that are still being built or for clients who are located abroad, virtual tours are offered so that the client can experience the property in three dimensions.

North America dominated the market for real estate software in 2022 and accounted for nearly 35% share of the global revenue. An increase in urbanization and infrastructure development activities and the adoption of new technologies for various commercial and residential applications are positively impacting the market growth in this region. The COVID-19 pandemic has significantly impacted consumer and business sentiments in the region, leading to the low growth rate of the construction industry. However, the industry is expected to recover in 2022 due to a rise in infrastructure investments and an increased focus on smart city projects.

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Global Real Estate Software Market

Report ID: SQMIG45E2184

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