Dallas, Texas, Oct. 10, 2022 (GLOBE NEWSWIRE) -- The expansion of digitization, particularly in developing economies, the rising uptake of property management software by small and medium-sized firms, and the proliferation of smartphones are the main factors propelling the global real estate management software market. One of the major reasons anticipated to propel the real estate management software market expansion is the increasing inclination of owners and property managers for scalability. Additionally, factors including escalating infrastructure construction and the expanding requirement to keep property-related records for smooth operation are predicted to fuel market expansion. The need for property management software (PMS) for hotels and apartment buildings has grown over the past few years. The availability of internet bandwidth and virtual storage are just two of the many variables that affect demand in the hotel and residential sectors.
Real estate management software is a technology made to make it easier for property managers to handle both residential and commercial properties. Likewise, for compliance considerations, real estate management software aids in maintaining a transparent digital paper trail.
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Property managers, owners, and operators increasingly need real estate management software since it makes it easier and more efficient for them to manage their assets. In a market that is getting more competitive and constantly changing, this helps to regulate the real estate portfolio to a larger extent. Real estate investors, residential and commercial property dealers, and other end users frequently utilize this software. The global real estate management software market size was estimated at USD 14.49 billion in 2021 and is expected to increase by 8.9% CAGR to reach USD 30.97 billion by 2030.
Midsize enterprises may benefit from the improved management tools offered by real estate property management software. One of the numerous advantages of employing this software is that these organizations may manage their complete business process more efficiently across departmental boundaries thanks to these solutions. The capacity to customize their software to the unique requirements of a specific industry vertical is another advantage medium-sized companies have over small and medium-sized enterprises (SMEs), which frequently choose all-purpose SaaS solutions.
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Key Players of Global Real Estate Management Software Market
- Accruent
- Argus Financial Software
- MRI Software
- RealPage
- Yardi Systems
- AMSI Property Management
- CoStar Realty Information Inc.
- Propertybase GmbH
- Microsoft Corporation
- Trimble Inc.
- CDK Global LLC
- Bentley Systems Inc.
- Oracle Corp
- SAP America, Inc.
- IFCA MSC Berhad
- Kingdee International Software Group Company Limited
- Yonyou Network Co., Ltd.
- LanTrax Inc.
- 4qt.com
- IBM Tririga
- Sage Software Holdings, Inc.
- Constellation Software Inc.
Type Analysis of Real Estate Management Software Market:
- ERP
- PMS
- CRM
- Others
Real Estate Management Software End user applications comprise:
- Small Enterprises
- Medium Enterprises
- Large Enterprises
In 2021, North America was the dominant region in the market. Property managers and other participants in the real estate industry may have chances to invest in asset management software or services thanks to the e-commerce boom in North America. The region's real estate market will undoubtedly see an increase in outside investment. Real estate wealth managers may make use of international real estate funds to diversify because of the variety of investment options and economic situations. Population and economic growth in the region are dominated by metropolitan centres. Urban real estate markets are the most profitable and brimming with possibilities. Real estate profitability is tied to GDP growth and population shifts.
• Entrata, Inc. and AMLI Residential worked together in July 2020. All of Entrata's front-end leasing, accounting, payments, and communication tasks will be enabled by and managed by its integrated and all-inclusive platform.
• Alexa integration for residential properties was announced by Entrata Inc. in April 2021. Alexa-enabled devices can be managed or configured in each unit via this interface, enabling voice control of smart homes.
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