Property management software: Key market research findings
- Emergence of cloud-based property management software
- Growing demand for property management software in corporations
Technavio has released a new market research report on the global property management software market, which is expected to grow at a CAGR of around 7% between 2016 and 2020. There is a growing need in the real estate market to manage vast data with transparency, given the large volume of real estate transactions across the globe. Property mangement software comprises sevreal features that help end users to carry out core real estate related tasks easily. The Americas lead the global property management software market, accounting for 47% of the overall market share. Much of this region’s growth is because several real estate companies in the region are using business intelligence related software.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the cloud-based property management software has gained prominence in the market. This software has a centralized database hosted online and offers several advantages to the users. The deployment of property management software on the cloud brings benefits such as customization, easy customer monitoring, reduced operating costs, and data accessibility from anywhere. Cloud-based property management software also provides flexibility, and can be accessed from anywhere at any time. It also reduces payroll costs through automated administrative procedures and communications. Moreover, the SaaS-based property management solutions have the ability to import data globally for all sites or business units,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research
The demand for property management software among enterprises, agents, and brokers is growing at a rapid pace as they deal with a plethora of property management-related data from different sources. Property management software provides easy access to the available data and makes the business processes of enterprises easier. Real estate brokers can find suitable properties for the client within fractions of a second on the basis of the criteria defined, such as location or keywords entered by the client. Also, it is easier to update the client database using property management software, and the client database can be used as a reference later.
The leading vendors in the global property management software market include AppFolio, Buildium, London Computer Systems, MRI Software, RealPage, and Yardi Systems. This market is very fragmented, and there are plenty of vendors vying for market share. Many large companies have entered into mergers with others to improve their market presence. These deals have helped larger companies get access to brand new markets.
A more detailed analysis is available in the Technavio report, Global Property Management Software Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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