Property Management Software Market

Property Management Software Market was valued at USD 3,148 Million in 2022 and forcasted to touch USD 4,409 Million in 2030 and is anticipated to grow at a 4.3% during the forecast period.

Property Management Software Market Overview

Property management software allows property managers, owners, and operators to simplify and automate the tasks related to the running of their properties. The major functions of property management software are marketing, lease management, and portfolio performance.

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Major Property Management Software Market Drivers

The increasing demand for Property Management Software (PMS) is a major factor that is contributing to the growth of the market during the forecast period. There has been an increase in the demand for web-based services such as Software as a Service (SaaS) among the property management solution providers. Additionally, the rising consumer awareness related to the various benefits offered by PMS such as lease tracking, building maintenance, and accounting is encouraging the users to opt for this solution, thus propelling the growth of the property management software market size. The PMS has shifted from manual to automatic management solutions. An automatic PMS decreases the time taken in responding to the complaints and grievances of tenants or owners. It also eases the property management procedure by facilitating the rent collation process, decreasing the communication gaps, and tracking the finances.

As per the property management software market report, the emergence of cloud technology in the software sector has further supported the growth of the market. Cloud technology has helped in changing the software application in many ways for operators as well as users. Numerous benefits such as SaaS software allow the multifamily property management enterprises to easily integrate PMS software across the portfolio, enable property managers to integrate advanced payment solutions. All these factors are further boosting the growth of the property management software market share.

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Deployment – Segment Analysis

Based on the deployment, the cloud-based software is anticipated to grow at a higher CAGR during the forecast period. This is mainly due to the increasing adoption of cloud deployment across various end-users such as housing associations, property managers, among others. The several benefits of cloud-based software, such as ease to use, cost-effectiveness, higher scalability, are further contributing to the segment growth. Furthermore, the PMS software provides a backup facility and seamless data integration, which prevents data loss.

End-User – Segment Analysis

Based on the End-User, the property managers/agents is expected to grow at a faster CAGR over the forecast period. The rising number of commercial property and real estate deployments across the globe is driving the growth of the segment. The PMS helps property managers and agents to keep track of the properties and maintenance work. On the other hand, the housing association is projected to dominate the market during the forecast period. The increasing use of PMS for racking tenants, receiving payments, and leasing agreements is surging the property management industry growth.

Application – Segment Analysis

Based on the application, the commercial sector is predicted to grow at a higher CAGR during the forecast period. This is mainly due to the increased risk management, rising disposable income, along with changing consumption technologies. The commercial segment includes retail spaces, office spaces, hotels, and other spaces. PMS is increasingly opted by the hotel management sector as it helps in handling the interface of various departments within a hotel to manage the property efficiently. It also facilitates the operation such as point of sale, accounts receivables, sales and marketing, HR and payroll, and other amenities.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific is expected to grow at a higher CAGR during the forecast period. This is mainly due to the evolving infrastructure and the growing demand for improved data administration in this region. Moreover, the rising building construction and the growing adoption of cloud-based solutions are two other factors that are driving the growth of the market. Several technological advancements such as Artificial Intelligence (AI), machine learning, and voice commands are improving the capability of property management software, which in turn, will surge the adoption of PMS.

Top Market Players

Various notable players operating in the market include AppFolio, Inc., Buildium, CORELOGIC, Entrata, Inc., InnQuest Software, IQware Inc., MRI Software LLC, RealPage, Inc., REI Master, and Yardi Systems Inc., among others.

Segments covered in the Report:

The global property management software market has been segmented on the basis of deployment, application, end-user, and regions. Based on Deployment, the market is segmented into cloud and on-premises. Based on Application, the market is segmented into residential and commercial. Based on End-User, the market is segmented into housing associations, property managers/agents, property investors, and others. 

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Market Segmentation

Global Property Management Software Market by Deployment

• • Cloud
  • On-Premises

Global Property Management Software Market by Application

• • Residential
  • Commercial

Global Property Management Software Market by End-User

• • Housing Associations
  • Property Managers/Agents
  • Property Investors
  • Others

Global Property Management Software Market by Region

• • North America Property Management Software Market (Option 1: As a part of the free 25% customization)

    • By Deployment
    • By Application
    • By End-User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Property Management Software Market (Option 2: As a part of the free 25% customization)

    • By Deployment
    • By Application
    • By End-User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Property Management Software Market (Option 3: As a part of the free 25% customization)

    • By Deployment
    • By Application
    • By End-User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Property Management Software Market (Option 4: As a part of the free 25% customization)

    • By Deployment
    • By Application
    • By End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Global Property Management Software Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AppFolio, Inc.
  • Buildium
  • CORELOGIC
  • Entrata, Inc.
  • InnQuest Software
  • IQware Inc.
  • MRI Software LLC
  • RealPage, Inc.
  • REI Master
  • Yardi Systems Inc.