Regional Outlook and Competitive Landscape of Property Management Software Market

The property management software industry is segmented into solution, deployment model property type and region-wise.

PORTLAND, PORTLAND, OR, UNITED STATES, February 28, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Property Management Software Market,” The property management software market was valued at $3 billion in 2021, and is estimated to reach $4.7 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.

Property management software serves as a centralized computer system for planning, coordinating, and overseeing the daily operations of an accommodation operation. Depending on the software provider, it can manage every aspect of the reservation process as well as front and back-office operations, channel management, guest communication, housekeeping, and maintenance management.

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According to property management software market research analysts, the marketing & advertising and property sale & purchase solution segments collectively accounted for around 44.4% market share in 2021, with the former constituting around 26.7% share. The accounting & cash flow management software and property sale & purchase solution segments are expected to witness considerable CAGRs of 7.3% and 5.9%, respectively, during the forecast period.

The current estimation of 2031 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has high impact on the growth of Property Management Software Market Analysis, as the increasing number of smartphone users, growing adoption of cloud computing solutions, and surging smart real estate infrastructure provide lucrative opportunities for the growth of property management software market size. Therefore, during the forecast period, the need to manage costs in post-COVID-19 environments will undoubtedly be a significant growth driver for the use of property management software across various verticals.

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COVID-19 has forced billions of organizations around the world to adopt remote work policies. Therefore, owing to factors such as the creation of remote access solutions, rapid digitalization and urbanization led the investors and prominent players to discover and implement property management software to enhance their real estate return on investment and financial status. So, various key players as well as startups started utilizing lockdown situations to develop and provide tailored property management solutions for various end-use verticals such as retail, industrial and corporate along with residential.

In terms of property type, the commercial segment captured the largest market share of one-third in 2021 and is likely to maintain its leadership in terms of revenue during the forecast period. The residential segment, on the other hand, is likely to achieve the fastest CAGR of 5.6% through 2031. The report also studies the industrial and special purpose segments.

Based on solution, the marketing and advertising segment held the largest share in 2021, accounting for more than one-fourth of the global property management software market, and would dominate through 2031. The accounting and cash flow management software segment, on the other hand is estimated to witness the fastest CAGR of 7.3% during the forecast period. The report also discusses the rental and tenant management, property sale and purchase solution, legal and insurance consultancy, and others segments.

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Region-wise, North America held a significant global property management software market share, due to the country’s expanding hotel capacity, the U.S. currently dominates the regional market for North America. The main drivers of the growth of the property management software industry in North America are the rapid advancements in software as a service (SaaS) technology and the rise in awareness for personalized property managing software. Moreover, rapid urbanization and an increase in spending construction of smart real estate infrastructure to enhance the standard of living and streamline technological property care take solutions are the primary factors that drive the growth of the property management software industry in Asia-Pacific and Europe.

Key players profiled in the report include Alibaba Cloud International, Console Australia Pty. Ltd., Entrata, Inc., IQware Inc., Microsoft Corporation, Oracle Corporation, PropertyMe Pty. Ltd., REI Master Pty. Ltd., Rockend Pty. Ltd. and TAP Co., Ltd. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the Property Management Software Market.

KEY BENEFITS FOR STAKEHOLDERS:

• This study comprises an analytical depiction of the property management software market size along with the current trends and future estimations to depict the imminent investment pockets.

• The overall property management software market analysis is determined to understand the profitable trends to gain a stronger foothold.

• The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.

• The current property management software market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.

• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.

• The report includes the market share of key vendors and property management software market trends.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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