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Real Estate Software Market size was valued at USD 4.25 billion in 2019 and is poised to grow from USD 4.9 billion in 2023 to USD 17.66 billion by 2031, growing at a CAGR of 15.31% in the forecast period (2024-2031).

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. 'Yardi Systems, Inc.', 'MRI Software LLC', 'RealPage, Inc.', 'CoStar Group, Inc.', 'Procore Technologies, Inc.', 'Accruent LLC', 'AppFolio, Inc.', 'Buildium LLC', 'Planon Corporation', 'IBM Corporation', 'Oracle Corporation', 'SAP SE', 'Trimble Inc.', 'Altus Group Limited', 'The Sage Group plc', 'Archibus, Inc.', 'BlueFolder, Inc.', 'SpaceIQ, Inc.', 'Angus Systems Group Ltd.', 'iOFFICE, Inc.'

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 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

Product ID: SQMIG45E2184