Global Property Management Service
Market Report
2024
The Global Property Management Service market was estimated at USD 14.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global Property Management Service market was estimated at USD 14.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Property Management Service Market Sales Revenue 2022 | $ 14.5 Billion |
Global Property Management Service Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.8% |
Market Split by Deployment |
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Market Split by Application |
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Market Split by End Users |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Property Management Service industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Property Management Service Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The property management software program offers a centralized platform for viewing all properties and allows for control of other property-related operations, such as maintenance duties and tenant requirements. It primarily offers online document storage & sharing, financial reporting, electronic lease agreements, accounting capabilities, online maintenance requests & tracking, and integrated banking, among other applications. The automated property management solution has improved the software system by decreasing human errors and allowing property managers to arrange work assignments to avoid service interruptions efficiently.
The broad availability of property management services (PMS) has eased and automated the job of property owners and managers. Real estate is undergoing a rapid transformation, fueled by the rapid expansion of hotel and tourism brands and the rising use of a platform for customer retention.
For instance, Guesty, a hotel and property management solution company, introduced GuestyPay, a revolutionary payment processing system, in January 2022. This solution is intended for property managers and holiday rental companies.
Subscription-based SaaS solutions benefit companies of all sizes. Businesses increasingly use SaaS solutions to optimize operations by automating workflows and removing manual input. Businesses can also lower the cost and complexity of on-premises deployment by installing SaaS solutions. SaaS software assists large multifamily property management organizations integrate several technologies across their portfolio. In addition, the SaaS model is crucial for multi-vendor device compatibility with legacy systems.
For instance, Planon collaborated with AddOnn in March 2021 to combine AddOnn's SaaS solution with Planon's software platform for building and service digitalization to provide end-to-end solutions to end-users worldwide.
Employees in real estate organizations rely on up-to-date information to make vital decisions. SaaS systems allow users to access information from any location and device with internet connectivity. A SaaS platform can help property managers link their property solutions with sophisticated payment services for quick and easy transactions.
Many employees nowadays prefer to work from home rather than in offices, corporate headquarters, or a global company branch. This contributes to the need for flexible access to office resources and data. Besides, organizations are using virtual workplaces to reduce their physical infrastructure requirements to a bare minimum, allowing them to be more flexible and use their office space better. Many businesses seek mobility, workplace, and other integrated facility management solutions. This enables property managers to retain productivity while working with a huge crew. These solutions can be used by associated real estate agents & property managers to maintain track of all the properties they manage and the routine maintenance that needs to be performed on them. As a result, the rising trend of workplace mobility is propelling the property management service industry forward.
For instance, Entrata Inc. reported the integration of Alexa with residential buildings in April 2021. This integration would enable property managers to monitor or set up Alexa-enabled devices in each unit, allowing them to create voice-controlled automated homes.
One significant restraint property management software services face is the complexity of integrating with existing systems and databases. Many property management companies already have established tools for accounting, tenant communication, maintenance tracking, and more. Implementing new software solutions can lead to compatibility challenges and difficulties in transferring data seamlessly. Furthermore, as property management software handles sensitive information such as tenant details, financial records, and property documents, ensuring robust data security becomes critical. Any breaches or unauthorized access can lead to legal consequences, financial losses, and company reputation damage.
The COVID-19 pandemic significantly impacted the property management service market, introducing shifts in tenant behavior, remote work trends, and economic uncertainties that prompted property managers to adapt their strategies. Lockdowns and travel restrictions decreased demand for short-term rentals, while remote work trends increased the significance of property amenities and flexible leasing options. Property managers incorporated virtual tours, contactless services, and enhanced sanitation measures to address safety concerns. Moreover, the pandemic accelerated the adoption of proptech solutions for remote property monitoring and digital communication, reshaping the landscape of property management services and emphasizing agility and innovation.
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The competitive landscape of the property management service market is characterized by a dynamic and diverse array of players offering a wide range of services to property owners, investors, and tenants. Leading property management suppliers focus on new product development to boost their worldwide market position. Companies offer targeted solutions to owners and managers wanting to increase market penetration. In recent years, the industry has seen some major mergers and acquisitions.
April 2023: Inhabit has introduced ResidentIQ, a property management service software for residential property managers. This user-friendly software combines secure operations, insurance, payment, resident engagement, and screening solutions in a single service package.
January 2023: Union, a provider of property management software, has released centralized leasing software and assistance to enable organized remote management of multifamily complexes.
Top Companies Market Share in Property Management Service Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America led the market in 2022 and accounted for a share of more than 40% of the global revenue. The extensive and diverse regional real estate landscape, spanning residential, commercial, and industrial properties, fuels a substantial demand for property management services. Also, a robust and mature real estate investment market, coupled with a culture of property ownership and rental, drives the need for professional management to maximize returns and maintain property value. North America's early adoption and integration of proptech innovations have enhanced operational efficiency, tenant engagement, and service quality, further solidifying its market leadership.
According to Cognitive Market Research, the United States is estimated to witness a rapid property management service market growth rate in the projected period. The country's robust real estate market, characterized by diverse property types ranging from residential to commercial and industrial, generates significant demand for property management services. Besides, the increasing trend of urbanization and the growth of rental properties driven by changing demographics and preferences contribute to this expansion. Moreover, the U.S. has been an early adopter of proptech solutions, integrating innovative technologies to enhance operational efficiency, tenant communication, and property maintenance.
The Asia Pacific region is experiencing a remarkable urbanization rate and an expanding middle class, leading to growing demands for housing & commercial spaces. As urban areas grow, the need for efficient property management services to ensure optimal property utilization, maintenance, and tenant satisfaction becomes paramount. Also, the rise of real estate investment and development activities in countries like China, India, and Southeast Asian nations is boosting the demand for professional property management services to maximize returns and manage diversified portfolios effectively
The current report Scope analyzes Property Management Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Property Management Service Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Property Management Service Industry growth. Property Management Service market has been segmented with the help of its Deployment, Application End Users, and others. Property Management Service market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the cloud is the most frequently utilized deployment model in the global market for property management services. This is due to the increasing use of cloud deployment among various end users, such as housing associations, property managers, agents, and corporate occupiers. Cost-effectiveness, scalability, ease of use, and fewer tenant disputes are all prompting small, medium, & large businesses to adopt cloud-based property management services. Also, cloud-based PMS software provides backup and seamless data integration, which helps in data loss prevention.
The on-premises deployment category is expected to increase rapidly over the prediction period. This is due to the related benefits, including ownership and control over hardware and a higher level of data protection than cloud-based services. In addition, on-premises PMS allows for customization based on user or company requirements. These benefits of on-premises deployment described above are contributing to segment growth.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Property Management Service Industry. Request a Free Sample PDF!
The residential segment is expected to account for most of the market share. Property management software is required to manage residential properties such as houses, single and multi-story flats, and bungalows, which is driving the growth of this category. The demand for residential buildings is predicted to rise as the population grows. As a result, the demand for asset management systems will rise to accommodate the increased building of residential properties.
According to Cognitive Market Research, the commercial sector, on the other hand, is predicted to develop at the quickest rate in the forecast period. One of the primary elements propelling the market is the expanding business sector worldwide. Increased demand for cyber risk management, increased disposable income, and changing consumer technologies, among other factors, are projected to drive commercial investment, propelling the PMS market forward.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Property Management Service market report 2024 Edition by contacting our team.
According to Cognitive Market Research, the property managers/agents category accounted for the highest revenue share. This is owing to an increase in the number of commercial buildings and real estate developments worldwide. Besides, PMS assists property managers and agents in keeping track of all properties and necessary maintenance work. As a result, the rising trend of workplace mobility contributes to property management service market expansion.
Housing associations accounted for the second-largest portion of revenue and are predicted to expand significantly over the forecast period. This is attributed to several issues that apartments and townships encounter, such as racking renters, receiving money, and leasing agreements. However, these issues have compelled market participants to provide systems for tracking payments, inspections, maintenance, and transparent and thorough reporting
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Property Management Service Market is witnessing significant growth in the near future.
In 2023, the Cloud segment accounted for noticeable share of global Property Management Service Market and is projected to experience significant growth in the near future.
The Commercial segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies AppFolio Inc , Archibus Inc and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Deployment | Cloud, On-Premises |
Application | Commercial, Residential |
End Users | Property Managers/Agents, Housing Associations |
List of Competitors | AppFolio Inc, Rosmiman Software Corporation, Archibus Inc, Yardi Systems Inc, CoreLogic, Entrata Inc, ManageCasa, MRI Software LLC, IBM Corporation, SAP SE, IQware Inc, RealPage Inc, REI Master, Trimble Inc, Console Australia Pty Ltd |
This chapter will help you gain GLOBAL Market Analysis of Property Management Service. Further deep in this chapter, you will be able to review Global Property Management Service Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Property Management Service Market Trends North America Property Management Service Technological Road Map North America Property Management Service Market Drivers North America Property Management Service Market Restraints North America Property Management Service Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Deployment Analysis 2019 -2031, will provide market size split by Deployment. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Deployment Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by End Users Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Property Management Service market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Cloud have a significant impact on Property Management Service market? |
What are the key factors affecting the Cloud and On-Premises of Property Management Service Market? |
What is the CAGR/Growth Rate of Commercial during the forecast period? |
By type, which segment accounted for largest share of the global Property Management Service Market? |
Which region is expected to dominate the global Property Management Service Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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