The global property management software market grew at a CAGR of around 7% during 2014-2019. Property management software (PMS) refers to an application-based solution used by property managers to automate back-office, financial and administrative operations. It performs various functions, such as financial reporting, generating electronic agreements, storing and sharing documents online and integrated banking. It also aids in minimizing the manual labor required for collecting rents and scheduling maintenance and repair activities and the tracking of tenants and leaseholders. This enables the managers, owners and operators to simplify and automate the tasks associated with managing the properties. Owing to this, it is widely used for handling residential and commercial properties.
Significant expansion in the real estate sector, along with increasing automation across industries, is one of the key factors creating a positive outlook for the market. PMS offers a highly reliable, user-friendly and secure platform to the realtors that minimizes the risks of human error and enables the property managers to assign and delegate tasks effectively. Additionally, various technological advancements, such as integration with artificial intelligence (AI), machine learning (ML), virtual reality (VR) and cloud-computing solutions, are acting as other growth-inducing factors. These solutions provide a transparent and centralized platform for storing e-documents, maintaining tenant communications through messages and emails and facilitating online rent payment. Other factors, including rising infrastructural developments and widespread adoption of software-as-a-service (SaaS)-based business models, along with increasing expenditure capacities of the consumers, are projected to drive the market further. Looking forward, IMARC Group expects the global property management software market to continue its moderate growth during the next five years.
Breakup by Component:
Training and Support
Breakup by Application:
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Accruent LLC (Fortive Corporation), Appfolio Inc., Chetu Inc., Console Australia Pty Ltd, Corelogic Inc., London Computer Systems Inc., MRI Software LLC, Oracle Corporation, Realpage Inc., Resman LLC, Yardi Systems Inc., etc.
Key questions answered in this report:
How has the global property management software market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global property management software system market?
What is the breakup of the market based on the component?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global property management software market and who are the key players?
What is the degree of competition in the industry?