Analysis of the Property Management Energy Market: Assessment of Market Size, Trends, Statistics, and Competitors
Global Property Management Market by Deployment (Cloud and On-Premises), by Component (Software and Services), by End User (Property Manager/Agents, Housing Associations, Real Estate Agents, and Others), by Application (Residential and Commercial), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Size, Share, COVID-19 Impact, Regional Analysis & Forecast Till 2030
Category - Machinery & Equipment
Report Code - OMR-ME-174
Format: PDF, PPT, and Excel
Property Management Market Overview
Managing real estate and other physical assets include operating, controlling, maintaining, and supervising them. Residential, commercial, and vacant land all fall under this category. Management is required to extend the property's useful life and maintain its current condition. This is quite like the function performed by management in any organization. Property management is overseeing the care and upkeep of the buildings, machines, and other fixed assets employed in the production of goods. Property management software vendors should anticipate growth in business as the demand for web-based services, such as Software as a Service (SaaS), continues to rise. Maintenance monitoring, accounting, and tenant data management are just some of the day-to-day tasks made easier by a SaaS-based PMS. The program serves as a hub from which to monitor and manage all your properties and allows you to keep tabs on things like routine maintenance and tenant requests. Its primary features are document sharing and storage, electronic leasing agreements, financial reporting, maintenance requests and tracking, accounting, and integrated banking. The trend in PMS systems over the past few years has been toward fully automated operations. The global epidemic of COVID-19 severely impacted the real estate industry. Keeping guests and renters safe, preserving value (which may need increased cleaning processes), and complying with legislative requirements are all pressing short-term problems for real estate management.
Property Management Market Growth Factors
Evolving Workforce Mobility & Integration of Advanced Solutions to Modify Market Growth to Positive
Rather than going into an office, company headquarters, or a branch elsewhere, many workers nowadays choose to do their jobs from the comfort of their homes. This facilitates the adaptability requirement in using office facilities and information. As a result, companies can be more adaptable while also making better use of their available space by using virtual workspaces to reduce their need for real equipment. Scalability and the capacity to manage many properties are just a few advantages of cloud-based property management software. SaaS is also crucial for interoperability between devices from different manufacturers and legacy infrastructure. Employees in data-driven real estate firms rely on current data to make crucial choices. The inability to access data from any location via offline networks severely limits the quality of decisions that may be made. In addition, customers may access data from any location with an internet-connected device thanks to SaaS solutions. In addition, the SaaS model simplifies the integration of platforms from many vendors into preexisting infrastructure. Property managers may use a software as a service (SaaS) platform to integrate their business solutions with cutting-edge payment systems for seamless, expedited financial dealings. Property management software is an app-based software solution that streamlines and automates administrative, financial, and other back-office tasks for property managers. Payment processing, electronic leasing, storage of files, and service tracking are some of the features offered by the software solutions available today. Independent landlords, business multiplexes, and building owners with many thousand units can benefit from this program.
Data-Driven Solutions to be at the Forefront of Solutions Pushing Market to Prevail
Employees in the real estate industry rely heavily on up-to-date data to make important decisions. Offline networks pose an enormous roadblock to effective decision-making, which renders global data retrieval unfeasible. In addition, customers of SaaS systems can access data from any location and on any internet-connected device. Additionally, the SaaS model facilitates the incorporation of platforms from several vendors into preexisting infrastructures. A software as a service (SaaS) platform can help property managers streamline their operations by integrating their property services with high-tech payment systems. Since real estate management solutions and associated services enable property managers and allied personnel to manage and maintain property-related activities efficiently and cost-effectively, the industry is growing rapidly. Employing a property manager or taking on the task yourself is a time-consuming and resource-intensive option for property owners and landlords. Property managers and owners now have access to dependable property management software that can be used online or downloaded to a computer. Property and facilities management is becoming more complicated as a business develops. Companies require cutting-edge technological solutions, such as cloud-based and augmented reality-based ones, to deal with these challenges. Companies increasingly turn to third-party property management service providers to cut costs in this area. Moving obligations connected to environmental compliance and medical protection to the outsourcing firm is possible, allowing the business to focus on other tasks.
Property Management Industry Segmentation
Deployment
• Cloud
• On-Premises
Component
• Software
• Services
o Consulting
o Support & Maintenance
Application
• Residential
o Apartments
o Single-Family Housing
o Others
• Commercial
o Retail
o Government
o Construction
o Others
End User
• Property Managers/Agents
• Housing Associations
• Real Estate Agents
• Others
Property Management Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
Deployment Insights
Cloud Deployment to Widen its Demand Owing to Increasing Integration Within SMEs
Based on deployment, the global market can be split into cloud and on-premises.
In terms of revenue, the cloud market was the most important in 2022 and is anticipated to remain so throughout the projected period. This is because many end users, such as real estate brokers, residential associations, and corporate tenants, are beginning to embrace cloud deployment. Small, medium, and big businesses increasingly adopt cloud-based property management systems due to their scalability, user-friendliness, cost-effectiveness, and reduced likelihood of tenant conflicts. Data loss may be avoided using cloud-based PMS software's backup feature and easy data integration.
A sizable increase is anticipated for the on-premise deployment sector throughout the projected period. The advantages of on-premises PMS software over cloud-based PMS software are largely responsible for this trend. In addition, on-premise PMS allows for adaptation to specific corporate or individual requirements. The expansion of this market sector can be attributed, in part, to the advantages of on-premises implementation, as described above.
End User Insights
PMS to be Utilized by Property Managers/Agents at their Widest Owing to Versatile Solutions
The global market can be fragmented across property managers/agents, housing associations, real estate agents, and others based on end user.
In 2022, the property management and real estate agency sector brought in the most money. The proliferation of shopping centers and other forms of commercial real estate might be partly responsible for this trend. Property management software (PMS) also makes it easier for agents and managers to keep tabs on all their properties and the upkeep each one requires. As a result, the industry is expanding thanks to the growing popularity of remote work.
In 2022, the housing associations sector generated the second-largest proportion of total income, and this share was projected to expand significantly over the next years. This is because of issues such as filling units, collecting rent, and enforcing leases that plague apartment buildings and municipalities. However, because of all these difficulties, businesses in the market have developed tools to keep tabs on things like payments, checks, upkeep, & transparent and thorough reporting.
Regional Insights
Asia Pacific to Accommodate Enormous Market Girth Owing to Increasing Residential & Commercial Projects
Based on geographical segmentation, the global market can be segmented across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
In 2022, the majority of the market was located in North America. This is because of the presence of major players in the area. As the number of hotels in the United States continues to rise, it has become the dominant player in the North American hotel sector. Investment opportunities in the management of assets software/services are expected to increase for owners and real estate companies as e-commerce grows in North America. The regional housing market is predicted to grow substantially in the years ahead. Furthermore, real estate wealth managers may use overseas property funds to diversify more effectively owing to the vast range of investment possibilities and economic scenarios. The region's major cities are also at the forefront of the population and economic growth fight.
Financial experts predict that Europe's economy will expand at a rapid clip. Growth of the region's major cities is expected to outpace that of the country. In addition, the region's digital plan and infrastructures are constantly being upgraded, bolstering business data and predictive analytics to make buildings future-ready and better leverage IoT to design and redesign structures. This increased openness makes the real estate market more attractive to investors. This has aided the rise of the European market.
Growth in the Asia-Pacific region is forecasted to skyrocket. They are developing nations expanding at a rapid rate. The global middle class will expand, especially in China, India, and Indonesia. As a result, families may have more discretionary income than is necessary, creating real estate investment opportunities.
Property Management Industry Analysis
The PMS vendors are putting effort into developing cutting-edge products, helping them gain ground in the industry. Market leaders invest heavily in research and development to expand their product offerings, boosting the property management industry. Market participants are also using key market developments, such as the introduction of novel products, binding contracts, acquisitions and mergers, higher expenditures, and cooperation with other organizations to expand their global presence.
Property Management Market Recent Developments
• In June 2022, AppFolio has released the AppFolio StackTM Marketplace to improve the interoperability of property management applications. AppFolio, Inc. (NASDAQ: APPF), the leading provider of cloud business administration tools for the real estate industry, has announced AppFolio StackTM, an integration marketplace, allowing users of AppFolio Property Manager to provide the specialized solutions users require to manage complex portfolios as well as manage every aspect of their company from a centralized hub.
Global Property Management Market Prominent Players
• Kiko Homes Ltd. (U.K.)
• CORELOGIC (U.S.)
• ManageCasa (U.S.)
• IBM Corporation (U.S.)
• SAP SE (Germany)
• MRI Software LLC (U.S.)
• Yardi Systems, Inc. (U.S.)
• Entrata, Inc. (U.S.)
• AppFolio, Inc. (U.S.)
• REI Master (Australia)
• Trimble (U.S.)
• RealPage (U.S.)
Frequently Asked Questions (FAQs)
At what rate will the Property Management Market Expand?
Objective Market Research states that the property management market will grow at a CAGR of 7.9% during the forecast period.
What are the factors driving the global Property Management Market?
The global property management market is expected to grow rapidly during the forecast period due to adopting management solutions, evolving workforce mobility, and expanding the real-estate sector.
Which segment accounted for the largest Property Management Market share by End User?
Management companies and real estate agencies generated the most revenue in 2022. The proliferation of retail centers and other forms of business real estate may influence this trend.
What region holds the major share in the global market scape?
In 2022, North America comprised most of the market. This is due to the presence of significant actors in the region. As the number of hotels in the United States grows yearly, it has become the industry leader in North America.
Which are the dominating players in the market during the forecast period?
Some of the dominant global property management market leaders are Kiko Homes Ltd. (U.K.), CORELOGIC (U.S.), ManageCasa (U.S.), IBM Corporation (U.S.), SAP SE (Germany), and MRI Software LLC (U.S.), among others.
*Our reports are available on a region/wise and chapter/wise basis as well. For any additional personalization contact our sales representative directly at sales@objectivemarketresearch.com
Table of Content
1. Introduction
1.1 Market Definition
1.2 Objective of the Study
1.3 Market Scope
1.4 Years Considered in the Study
1.4.1 Historic Year: 2019-2021
1.4.2 Base Year: 2022
1.4.3 Forecast Period: 2023-2030
1.5 Currency Used in the Study
1.6 Boundaries for the Study
1.7 Collaborators/Stakeholders/Benefactors
2. Research Methodology
2.1 Research Outline
2.2 Data Collection Methods
2.3 Data Sources
2.3.1 Secondary Sources
2.3.1.1 Paid Sources
2.3.1.2 Unpaid Sources
2.3.2 Primary Sources
2.4 Market Estimation Methodology
2.4.1 Top-Down Approach
2.4.2 Bottom-Up Approach
2.5 Data Triangulation
2.6 Assumptions of the Study
2.7 Limitations of the Study
3. Executive Summary
3.1 Market Outlook
3.2 Analysts Perspective
4. Market Overview
4.1 Market Dynamics
4.1.1 Drivers
4.1.1.1. Changing Workforce Attitude
4.1.1.2. Integration of Advanced Solutions
4.1.2. Restrain
4.1.2.1. Volatility in Pricing of Real-Estate Infrastructure
4.1.3. Opportunities
4.1.3.1. Constant Requirement of Data-Driven Solutions
4.1.4. Impact of Market Dynamics
4.2. Impact of COVID-19 pandemic
4.3. Value Chain Analysis
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Buyers
4.4.2. Bargaining Power of Suppliers
4.4.3. Threat of Substitution
4.4.4. Threat of New Entrants
4.4.5. Competitive Rivalry
5. Global Property Management Market Analysis & Forecast, by Deployment from 2019-2030 (in USD million)
5.1. Cloud
5.2. On-Premises
6. Global Property Management Market Analysis & Forecast, by Component from 2019-2030 (in USD million)
6.1. Software
6.2. Services
6.2.1. Consulting
6.2.2. Support & Maintenance
7. Global Property Management Market Analysis & Forecast, by End User from 2019-2030 (in USD million)
7.1. Property Managers/Agents
7.2. Housing Associations
7.3. Real Estate Agents
7.4. Others
8. Global Property Management Market Analysis & Forecast, by Application from 2019-2030 (in USD million)
8.1. Residential
8.1.1. Apartments
8.1.2. Single-Family Housing
8.1.3. Others
8.2. Commercial
8.2.1. Retail
8.2.2. Government
8.2.3. Construction
8.2.4. Others
9. Global Property Management Market Analysis & Forecast, by Region from 2019-2030 (in USD million)
9.1. North America
9.1.1. North America Property Management Market Analysis & Forecast, By Country
9.1.1.1. U.S.
9.1.1.2. Canada
9.1.1.3. Mexico
9.1.2. North America Property Management Market Analysis & Forecast, By Deployment
9.1.3. North America Property Management Market Analysis & Forecast, By Component
9.1.4. North America Property Management Market Analysis & Forecast, By End User
9.1.5. North America Property Management Market Analysis & Forecast, By Application
9.2. Europe
9.2.1. Europe Property Management Market Analysis & Forecast, By Country
9.2.1.1. Germany
9.2.1.2. UK
9.2.1.3. France
9.2.1.4. Spain
9.2.1.5. Italy
9.2.1.6. Rest of Europe (RoE)
9.2.2. Europe Property Management Market Analysis & Forecast, By Deployment
9.2.3. Europe Property Management Market Analysis & Forecast, By Component
9.2.4. Europe Property Management Market Analysis & Forecast, By End User
9.2.5. Europe Property Management Market Analysis & Forecast, By Application
9.3. Asia-Pacific (APAC)
9.3.1. Asia-Pacific Property Management Market Analysis & Forecast, By Country
9.3.1.1. Japan
9.3.1.2. China
9.3.1.3. India
9.3.1.4. South Korea
9.3.1.5. Rest of the APAC
9.3.2. Asia-Pacific Property Management Market Analysis & Forecast, By Deployment
9.3.3. Asia-Pacific Property Management Market Analysis & Forecast, By Component
9.3.4. Asia-Pacific Property Management Market Analysis & Forecast, By End User
9.3.5. Asia-Pacific Property Management Market Analysis & Forecast, By Application
9.4. Latin America
9.4.1. Latin America Property Management Market Analysis & Forecast, By Country/Region
9.4.1.1. Argentina
9.4.1.2. Brazil
9.4.1.3. Rest of Latin America
9.4.2. Latin America Property Management Market Analysis & Forecast, By Deployment
9.4.3. Latin America Property Management Market Analysis & Forecast, By Component
9.4.4. Latin America Property Management Market Analysis & Forecast, By End User
9.4.5. Latin America Property Management Market Analysis & Forecast, By Application
9.5. Middle East & Africa
9.5.1. Middle East & Africa Property Management Market Analysis & Forecast, By Country/Region
9.5.1.1. South Africa
9.5.1.2. UAE
9.5.1.3. Saudi Arabia
9.5.1.4. Rest of Middle East & Africa
9.5.2. Middle East & Africa Property Management Market Analysis & Forecast, By Deployment
9.5.3. Middle East & Africa Property Management Market Analysis & Forecast, By Component
9.5.4. Middle East & Africa Property Management Market Analysis & Forecast, By End User
9.5.5. Middle East & Africa Property Management Market Analysis & Forecast, By Application
10. Competitive Landscape
10.1. Market Share Analysis (2022)
10.2. Market Positioning of Top Players (2022)
10.3. Key Developments & Growth Strategies (2020-2022)
10.3.1. Product Launches
10.3.2. Merges, Collaborations & Agreements
10.3.3. Expansion
10.4. SWOT Analysis
11. Company Profiles (Business Overview, Products Offered, Financial Details*, Recent Developments)
11.1. Kiko Homes Ltd. (U.K.)
11.1.1. Company Snapshot
11.1.2. Business Overview
11.1.3. Financial Data
11.1.4. Key Products Offered
11.1.5. Recent Developments
11.2. CORELOGIC (U.S.)
11.3. ManageCasa (U.S.)
11.4. IBM Corporation (U.S.)
11.5. SAP SE (Germany)
11.6. MRI Software LLC (U.S.)
11.7. Yardi Systems, Inc. (U.S.)
11.8. Entrata, Inc. (U.S.)
11.9. AppFolio, Inc. (U.S.)
11.10. REI Master (Australia)
11.11. Trimble (U.S.)
11.12. RealPage (U.S.)
11.13. Others
12. Appendix
12.1. Currency Exchange Rate to USD
12.2. Abbreviations
* Financial details captured might be subjected to information available and not be given for privately-held companies or for companies that do not report it in the public domain