Global Property Management Software Market Report and Forecast 2024-2032

Global Property Management Software Market Outlook

The global property management software market size reached approximately USD 4.07 billion in 2023. The market is further projected to grow at a CAGR of 6.5% between 2024 and 2032, reaching a value of USD 7.23 billion by 2032.

Key Trends in the Market

Property management software refers to a purpose-built software that aids in streamlining maintenance tasks and management of leases. The solutions offered by the software include online tenant portals, document storage, electronic leases, online payment processing, and maintenance tracking. The centralised computer system provided by the software increases efficiency and ease of operation.

• The expansion of the real estate sector is aiding the property management software market growth. The software allows the landlord and property owners to manage the portfolio in-house and acts as a communication tool for suppliers, clients, and tenants while providing insights through analytics. The increasing construction of residential buildings is bolstering the requirement for asset management systems.

• Increasing emphasis on workplace mobility is providing lucrative growth opportunities to the market. The property management software aids in necessitating flexibility in access to data and office resources. The integration of facility management solutions with mobility management allows property managers in maintaining speed while working with a large workforce.

• The rising adoption of SaaS based software is supporting the market expansion. SaaS solutions eliminate the requirement for manual input and decrease the cost and complexity of on-premises deployment.

Global Property Management Software Market Analysis

On the basis of solution, the market is divided into rental and tenant management, property sale and purchase solution, accounting and cash flow management software, and marketing and advertising, among others.

Based on mode of deployment, the market is bifurcated into cloud and on-premises. On the basis of application, the market is classified into residential and commercial. Based on end user, the marker is segregated into housing associations, property managers/ agents, and property investors, among others.

On the basis of region, the property management software market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Oracle Corporation 

• AppFolio Inc.  

• Yardi Systems, Inc. 

• MRI Software LLC  

• Accruent LLC  

• PropertyMe Pty Ltd. 

• RealPage, Inc.

• REI Master Pty Ltd.  

• Managecasa, Inc. 

• IQware Inc. 

• Innago, LLC 

• Others

Market Share by Application

Residential applications are anticipated to account for a significant property management software market share owing to the provision of various benefits by the software including comprehensive tenant management, integration, and scalability features, and financial and rent management features, among others. The ability of the property management software to integrate with other software increases the adaptability of evolving residential requirements and allows for efficient operations. The software also aids in generating rent invoices, streamlining tenant related activities, and automating rent collection, among others.

Market Share by Region

North America is anticipated to account for a significant share of the market over the forecast period. This growth can be attributed to the increasing automation and digitalisation in the property management sector. The rising external investments in the real estate sector in the region are boosting the property management software market demand. The presence of an advanced IT infrastructure and rapid adoption of novel technologies in the United States and Canada is further supporting the market expansion.

Competitive Landscape

Oracle Corporation, headquartered in Texas, United States, is one of the leading cloud technology companies that provides organisations across the globe with computing software and infrastructure to help them increase their effectiveness and efficiency and innovate new solutions.

AppFolio Inc., headquartered in California, United States, a cloud-based technology platform for real estate industry is used by businesses for addressing critical operations and deliver enhanced customer experience. The company specialises in community association management, investment management, and property management.

Yardi Systems, Inc., headquartered in California, United States, is one of the leading providers of high-performance real estate software solutions. The company is dedicated towards the support, design, and development of property management and real estate investment management software.

Other property management software market key players include MRI Software LLC, Accruent LLC, PropertyMe Pty Ltd., RealPage, Inc., REI Master Pty Ltd., Managecasa, Inc., IQware Inc., and Innago, LLC, among others.

Key Highlights of the Report