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How Large Will the Property Management Software Market Size By 2025?
The market for property management software has seen substantial growth in the past few years. The market’s size is projected to increase from $6.07 billion in 2024 to $6.63 billion in 2025, with a compound annual growth rate (CAGR) of 9.2%. This growth during the historic period can be credited to factors such as efficient time-saving methods, the ability to manage properties remotely, financial management, tenant and lease management, adherence to compliance and regulations, and user-friendly interfaces.
How Big Is the Property Management Software Market Size Expected to Grow by 2029?
Anticipations predict a robust expansion in the property management software market in the upcoming years, with the market size burgeoning to $9.59 billion by 2029, experiencing a compound annual growth rate (CAGR) of 9.7%. The surge during the prognosis period might be ascribed to aspects such as customer relationship management, proactive maintenance solutions, energy resourcefulness, and sustainability initiatives. Other contributing factors comprise tenant self-service portals, dynamic pricing tactics, and enhanced reporting and analytical tools. Significant forecast period trends include the amalgamation of smart buildings, virtual tour implementations, and 3D visualization, supremacy of cloud-based solutions, as well as the proliferation and management of international properties. Also figuring in the mix are improved reporting mechanisms and business intel, teamed with dynamic pricing strategies.
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Which Key Market Drivers Powering Property Management Software Market Expansion and Growth?
The rise in smart city investments is anticipated to fuel the expansion of the property management software market within the forecast timeframe. Government bodies worldwide are funding the development of smart cities. The application of information and communication technologies in smart city solutions enables efficient management and operation of urban services, thereby, leading to a need for effective property management. The European Union is proactively introducing smart city initiatives, providing research funding and establishing sustainability objectives for member countries. The smart city concept is also gaining traction in emerging markets. To illustrate, nearly 1,000 smart city test projects are either already complete or in the works globally, with about 500 of these projects located in China. Therefore, the financial commitment towards smart cities is likely to stimulate the growth of the property management software sector.
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Which Fast-Growing Trends Are Poised to Disrupt the Property Management Software Market?
The emergence of Artificial Intelligence (AI) enhanced applications within the property management software market is a significant trend attracting notice. These AI-enabled apps provide multiple capabilities to real estate firms such as controlling property portfolios, executing marketing strategies, leasing, handling accounting and operations, among others. For instance, in September 2024, two AI-driven features were introduced by Guesty, a property management software platform based in Israel. These were an AI assistant website builder and ReviewSmart AI. The AI assistant from Guesty allows property managers to establish websites using generative AI for a simplified process. On the other hand, ReviewSmart AI is a smart analytical tool that facilitates the conversion of negative guest reviews into practical insights. This innovative tool not only automates the review analysis process, thereby saving time, but also equips property managers with the capability to make decisions based on reliable data, thus enhancing operations to improve guest satisfaction.
What Are the Emerging Segments in the Property Management Software Market?
The property management softwaremarket covered in this report is segmented –
1) By Deployment: Cloud, On-premise
2) By Application: Residential, Commercial
3) By End-User: Housing Associations, Property Managers Or Agents, Property Investors, Other End-Users
Subsegments:
1) By Cloud: Public Cloud, Private Cloud, Hybrid Cloud
2) By On-premise: Self-hosted Solutions, Dedicated Servers
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Who Are the Global Leaders in the Property Management Software Market?
Major companies operating in the property management software market include AppFolio Inc., Console Australia Pty Ltd., CoreLogic Inc., Entrata Inc., InnQuest Software Corporation, IQware Inc., RealPage Inc., Yardi Systems Inc., Building Engines Inc., Innago LLC, Spacewell International NV, ManageCasa Inc., Planon Corporation, Jones Lang LaSalle IP Inc., Tenant Cloud LLC, Rent Manager-London Computer Systems Inc., ResMan LLC, Total Management Inc., SS&C Technologies Inc., RentPost Inc., PropertyZar LLC, Archibus Inc., MRI Software LLC, International Business Machines Corporation, SAP SE, MAISONETTE Inc., DoorLoop Inc., CondoControl Inc., Hemlane Inc., SFR software solutions Co. Ltd.
Which are the Top Profitable Regional Markets for the Property Management Software Industry?
North America was the largest region in the property management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the property management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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