Property Management Market - Forecast(2024 - 2030)

The Property Management market industry is projected to grow from USD 20.16 Billion in 2022 to USD 35.26 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.20% during the forecast period (2022 - 2030).

Property Management Market Overview:

The United States is rapidly progressing with newer infrastructures and technologies developed frequently which also gradually boosts the overall economic statistics in this part of the world. Business, here, is overwhelmingly growing with many stimulating product launches and supportive management and statistical techniques. According to the Small Business and Entrepreneurship Council, nearly 5.6 million employer firms were reported to be working in the U.S. in 2016.?Establishment of large scale business organizations and firms have encouraged the growth of lease commercial buildings, real estates, and other private and public property management which is why North America held a huge regional share at 38.48% in the global property management market in 2018. Nowadays property management services not only incorporates overseeing of personal, commercial, rental, or governmental assets but also includes its maintenance and monitoring through advanced property management software technologies.?Increasing demand for outsourcing projects, growing acquaintance with Building Information Modelling (BIM), and the advent of cloud computing services boosting the industrial sector gradually upgrade the need for efficient property management services. Moreover, increasing real estate scalability also influences the global property management market which crossed $1.21 billion in 2018.

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Rising preference for homeownership, hike in residential rental properties, growth in modern infrastructure building, and expansion of commercial space demands the necessity for property managing which facilitates associated task tracking such as storage of the legal contract documents, property transaction updates and history, and ease of property account handling. All these factors generate huge property management market demand which is evaluated to increase at a CAGR of 7.52% during the forecast period of 2025. Opening of various retail shops all across the world also requires adequate knowledge about a particular property and lease buildings and property management services and solutions effectively assist the target customers. This of e CAGR for the retail application segment is projected to experience a considerable rise of 8.39% through to 2025.

Property Management Market Growth Drivers:

·?Growing demand for web-based services Software as a Service (SaaS) by property management software service providers and increase outsourcing asset and real estate management needs elevates the property management market growth.

·?The rise in industrial planning and purchasing of real estate properties will also upsurge the global property management market demand.

Property Management Market Companies:

The pioneering companies of the property management market includes Rentec Direct , Pads4 , Entrata , Console Group , AppFolio , Resman Limited , Buildium , and others.

Rentec Direct is a web-based property management solution provider company which offers facilities such as tools for supervising and managing the properties and tenants for landlords serve as a professional asset for the property managers and helps in tenant screening along with online payment, advertisements, and file management services.

Property Management Market Trends:

·?Technology is rapidly changing the face of the world. Property management is adopting the trend of high tech solutions provided by well-integrated advanced methodologies such as Fintech and Proptech. Proptech encompasses all the innovative modern technologies in the real estate business and its management procedures. The biggest success in Fintech is the blockchain facility which will considerably lower the property transaction cost and effectively provide solutions to the users with the internet of things (IoT) and other processes such as augmented reality (AR), machine learning, and artificial intelligence (AI).

·?Another effective technology used by property management experts in the drone technology which offers a less expensive method to monitor the large properties, building surveillance, and construction spaces thereby facilitating a smooth real estate business.

Property Management Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Property Management market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Property Management in the Property Management market and their specific applications in different areas.

Property Management Market: Industry Coverage:

The global property management market is divided into components, service, solution, deployment, end-user, commercial application, and application. Component segmentation includes solutions and services. On the basis of solutions, bifurcation includes lease accounting and real estate management, asset maintenance management, workspace and relocation management, reservation management, and several others. Categorization based on services includes deployment and integration, consulting, support and maintenance, service level agreement management, and so on. By deployment, the property management market can be segmented into the cloud and on-premises. The end-user sub-segment includes property managers and housing associations. Classification of commercial application includes construction and real estate, government, retail, hospitality, and many others. Segmentation on the basis of application includes commercial and residential.

The property management market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study includes:

????North America: The U.S., Canada, Mexico

??South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

??Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark

??APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

??Middle East and Africa: Israel, South Africa, Saudi Arabia

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