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The real estate property management market consists of
software and services used for managing various day-to-day operations of
residential and commercial properties. The software streamlines tasks such as
tenant and lease tracking, accounting, strategizing and executing marketing
plans, document storage, facilities management, and conducting analytic
reports. Adoption of property management software optimizes operations,
enhances tenant/owner experiences, and boosts revenue. It automates repetitive
manual tasks and provides easy access to property and tenant information anytime,
anywhere.
The Global Real Estate Property
Management Market is estimated to be valued at US$ 22.56 Bn in 2024 and is
expected to exhibit a CAGR of 7.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the real estate property management
market are Accruent, AppFolio, Inc., Apartment Management Consultants, LLC, BH
Management Services, Cushman & Wakefield, Entrata, Inc., Greystar Real
Estate Partners, IBM Corporation, JLL (Jones Lang LaSalle), Lincoln Property
Company, MRI Software LLC, Oracle, RealPage, Inc., SAP SE, and Yardi Systems,
Inc.
Key opportunities: Digitization of property management processes provides
opportunities to streamline workflows and enhance customer experiences.
Adoption of advanced automation, analytics, and IoT solutions can help optimize
operations and maximize asset value.
Global expansion: Leading players are expanding globally through partnerships
and acquisitions to cater to the growing demand. Growing urbanization and infrastructure
development are driving the market in developing regions.
Market drivers:
The growing need to optimize property management workflows and enhance
tenant/owner services is a key driver for Real
Estate Property Management Market Share. Automation helps reduce costs
and errors. Digitization improves collaboration within distributed teams.
Mobile-enabled solutions provide anytime, anywhere access to critical property
and tenant data.
PEST Analysis
Political: The real estate property management market is regulated by
various laws and regulations regarding property ownership, rental agreements,
taxes etc. Any changes in these laws and policies can impact the market.
Economic: The overall economic growth and stability, interest rates, employment
rate, disposable income levels influence consumer spending on real estate
properties which in turn impacts demand for property management services.
Social: Factors like urbanization, work from home trends, changing consumer
preferences for owning vs renting properties, and migration patterns affect the
real estate sector and property management demand.
Technological: Advancements in technologies like IoT, cloud computing, AI and
analytics are enabling property managers to improve operational efficiency,
enhance resident experience, and optimize asset performance through remote
monitoring and automation. Digitalization is also facilitating online payment
of utilities and rent.
The US accounts for the largest share of the global real estate property
management market in terms of value. This can be attributed to the size of the
country’s commercial and residential real estate sector along with high adoption
of advanced property management solutions. Within the US, major revenue
generating regions include California, Texas, New York and Florida due to their
large urban populations and strong real estate industry.
The Asia Pacific region is projected to witness the fastest growth in the real
estate property management market over the forecast period. Rapid urbanization,
rising middle class, growing interest of institutional investors in commercial
properties are fueling market growth in Asia Pacific countries like China,
India and Japan. Additionally, technology adoption is increasing among property
managers to bring in more efficiency and enhance customer services in the
region.
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Estate Property Management Market
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