Property Management Software Market: - An Overview
Property management software is a tool designed to help property managers to manage residential and commercial properties. Additionally, property management software helps maintain a clear digital paper trail for compliance purposes.
The demand for property management software increases as it enables property managers, owners, and operators to simplify and automate the tasks associated with running their properties.
This helps to control real estate portfolio to a greater degree in an increasingly competitive and ever-changing market. Such software are widely used by residential property dealer, commercial property dealer, real estate investors and other end-users.
Impact of COVID-19 Pandemic Outbreak on Property Management Software Market
As the effects of COVID-19 are felt around the world, real estate companies are being impacted in different ways, largely dependent on region and asset class.
In the near-term, real estate executives are concerned with preserving value and liquidity, keeping tenants and visitors safe, including increased cleaning measures, and complying with government safety requirements.
Historically, the market for property management software has grown by almost 8% globally in the past 5 years. Due to the COVID-19 outbreak, real estate projects delays are on cards as supply of building construction materials is hampered in the wake of the pandemic, along with significant labour shortage due to lockdowns.
The market is expected recover by Q4, 2020 once the lockdown relaxations are eased down and the property market returns to a steady growth rate.
Property Management Software Market: - Market Dynamics
Increasing Demand for SaaS-based Property Management Software
Cloud-based property management software come with wide range of benefits such as scalability, multiple property management, 24x7 availability and various others. This offers additional benefit over the on-premises deployed software that has many limitations regarding the operation as well as high cost.
Additionally, the predictable recurring costs of a SaaS model make budgeting significantly easier rather than an enormous initial outlay with a smaller annual license, punctuated with periodic professional services, which is expected to drive the market demand for cloud-based property management software.
Increasing Demand for Smart Building Projects
The concept of a smart city is the brightest contemporary trend integrating the ideas of smart mobility, smart economy, smart people, smart government, smart environment, and smart living.
Smart buildings are considered to be one of the major elements within a smart city. Moreover, applying modern ICT technologies tends to ensure the fulfilment of the needs of current and future generations and responding to the challenges associated with innovations, efficiency, and competitiveness of public services and urban structure.
As a result, the adoption of digitalization in the smart city project and smart building and properties, increases the demand for the property management software market.
Property Management Software Market: - Key Players
Key players in the property management software market are focusing on new product launches and product enhancements with the technology vendors to offer innovative technological solutions for sustained business growth.
The major players offering Property Management Software solutions include
- MCS Solutions
- Indus Systems
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global property management software market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with property management software market attractiveness as per segments.
The report on property management software market also maps the qualitative impact of various factors on property management software market segments and geographies.
Property Management Software Market- Report Highlights:
- A detailed overview of parent market of property management software market
- Changing property management software market dynamics in the industry
- In-depth segmentation of the property management software market
- Historical, current, and projected property management software market size by value
- Recent industry trends and developments in property management software market
- Competitive landscape of the property management software market
- Strategies for key players in property management software and solutions and services offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on property management software market performance
- Must-have information for property management software market players to sustain and enhance their market footprint
Property Management Software Market Segmentation
- Lease Accounting and Real Estate Management
- Asset Maintenance Management
- Workspace and Relocation Management
- Reservation Management
- Construction and Real Estate
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.