Property Management Software Market Report

Market Insights

The Property management software Market is projected to grow from USD 2.9 billion in 2020 to USD 4.1 billion by 2026 at a CAGR of around 5.9% during the forecast period.

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the Property management software market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026.

Figure: Property management software Market Size, 2020-2026 (USD Billion)

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The property management software system has been enhanced by an automatic property management solution, which has resulted in a reduction in human errors and empowered property managers to assign work assignments efficiently in order to eliminate service interruptions. The benefit of an automatic PMS is that it reduces the time required to respond to owner and tenant complaints and grievances. Furthermore, it simplifies property management procedures by closing communication gaps, storing and leasing documents and contracts, streamlining rent collection processes, and tracking finances.

Key Players

Key players operating in the Property management software market are-

• AppFolio, Inc.
• Console Australia Pty Ltd.
• CORELOGIC
• Entrata Inc.
• MRI Software LLC
• RealPage, Inc.
• Yardi Systems Inc

Market Dynamics

Increasing demand for SaaS-based software/solutions to support the growth of the property management market Cloud computing and saas (software-as-a-service) integrated services have grown in popularity as a preferred method of service delivery. Asset Opportunities Should Reflect a Wider Range of Risks (Rising Opportunities will be Accompanied by Greater and more Diverse Risks) the scope of risks will expand as the property industry globalises.

Segment’s Analysis

Application Trends

By application, the property management software market has been bifurcated into commercial, Residential. The disposable property management software segment accounted for the largest market share in 2020. This is attributable to increasing investments in real estate.

Regional Trends

By region, the Property management software market is expected to be dominated by North America. The United States dominates the region due to an increasing number of hotel rooms in the country. In 2020, Europe held the second-largest market share. The rising presence of a large number of commercial and residential buildings, as well as the region's high level of digitalization, can be attributed to the region's growth.

COVID-19 Impact on Property management software Market

Most industries around the world have experienced significant disruption as a result of the COVID-19 outbreak. While only a few industries saw a decrease in business and production, others saw severe consequences such as business closures and movement restrictions, among other things. During the pandemic, however, the real estate industry experienced both a surge and a decline at the same time. During the first and second quarters of the pandemic (Q1 and Q2), real estate companies, managers, and property owners were primarily concerned with keeping visitors and tenants safe while also adhering to governmental laws and regulations.

Critical Questions Answered in the Report

• What are the key trends in the Property management software market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on Property management software market?
• What are the key strategies adopted by the major vendors to lead in the Property management software market?
• What is the market share of the top vendors?

Target Audience

The target audience of Property management software market includes-

• Property management software distributors
• Property management software suppliers
• Property management software manufacturers
• Contract Research Organizations