Global Property Management Industry was valued at USD 13.95 Billion in the year 2018. Global Property Management Industry is further estimated to grow at a CAGR of 9.1% from 2018 to 2025 to reach USD 26.22 Billion.The property management Industry is gaining traction as property management solutions and associated services empower property managers and allied individuals to manage and maintain property related operations efficiently and cost-effectively. Traditionally, property owners or landlords either hire third-party property managers or manage their property themselves, which requires high time and manpower investment. Nowadays, the easy availability of reliable online as well as standalone property management software has simplified and automated the tasks of property managers and owners.
The key objective of the report is to define, describe, and forecast the property management Industry size by component (solutions and services), deployments, end-users, applications, and regions. The report provides detailed information on the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Industry. The report forecasts the Industry size with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key Industry players and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, such as partnerships, agreements, and collaborations; mergers and acquisitions; and new product developments, in the global Industry.
The advent of cloud technology is one of the major breakthroughs in the software industry. The cloud technology has greatly affected the way software applications are run and delivered to clients. This change has enabled software developers to focus more on the technology aspect of software while outsourcing the management aspect to cloud service providers. SaaS software enables the user to pay per use and cancel services whenever they want. SaaS software enables the big multifamily property management organizations to easily integrate different kinds of software across the portfolio. Moreover, SaaS model is instrumental in supporting multi-vendor software compatibility with legacy systems. In addition, SaaS platforms are allowing property managers to integrate their property management solutions with advanced payment solutions for easy and seamless transactions.
In the current scenario, many people prefer to work from home rather than from a local office, head office, or global branch of an organization and therefore require mobility in terms of access to office resources and data. Moreover, some organizations are considering the use of virtual workplaces for their employees to keep their physical infrastructure needs to a bare minimum, which will further assist these organizations in becoming more flexible and utilizing the office space in a better way. Organizations are increasingly employing the current generation of youngsters who are technology-savvy and believe in the use of various technological devices at the workplace. To keep the flow and speed of work uninterrupted and manage such a workforce, many organizations are looking for management solutions such as workplace management, project management, and other integrated facility management. These solutions help associated property managers and real estate agents to keep a track of all the properties they manage and all the maintenance work necessary for these properties. Thus, the evolving trend of workplace mobility is driving the growth of the property management Industry.
Property Management Industry Share, By Region 2025
North America is estimated to hold the largest Industry size in 2018, whereas APAC is projected to grow at the highest CAGR in the global property management Industry as the region is witnessing advanced and dynamic adoption of new technologies in real estate projects. Moreover, APAC is a lucrative Industry for the vendors of property management solutions and associated services.
Major Industry players in Property ManagementIndustry are Oracle (US), IBM (US), Hitachi Vantara (US), SAP (Germany), JLL (US), Trimble (US), RealPage (US), AppFolio (US), Yardi (US), MCS Solutions (Belgium), and ARCHIBUS (US), Accruent (US), FSI (UK), Planon (Netherlands), Indus Systems (US), Entrata (US), Hemlane (US), iOFFICE (US), Total Management (US), Archidata (Canada), Rentec Direct (US), Property Boulevard (US), PMX Dynamics (Canada), OfficeSpace (US), CIC (US), and Buildium (US), and Other Company Profile is provided as per client requirement.
Property ManagementIndustry Segmentation:
Property Management Industry Overview, By Component
Property Management Industry Overview, By Solution
Property Management Industry Overview, By Service
Property Management Industry Overview, By End User
Property Management Industry Overview, By Application
Property Management Industry Overview, By Commercial Application
Property Management Industry Overview, by Region