HOME Top Market Reports Property Management Market by Component (Solutions and Services), Solution (Lease Accounting & Real Estate Management, Asset Maintenance Management & Reservation Management), Service, Deployment, End-User, Application, and Region - Global Forecast to 2023

Property Management Market by Component (Solutions and Services), Solution (Lease Accounting & Real Estate Management, Asset Maintenance Management & Reservation Management), Service, Deployment, End-User, Application, and Region - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: August 2018
Report Code: TC 6506

 

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The global property management market size was USD 12.83 billion in 2017 and is projected to reach USD 22.04 billion by 2023, growing at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period. The base year for this study is 2017, and the forecast period is 2018–2023.

Objectives of the Study:

The key objective of the report is to define, describe, and forecast the property management market size by component (solutions and services), deployments, end-users, applications, and regions. The report provides detailed information on the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market. The report forecasts the market size with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, such as partnerships, agreements, and collaborations; mergers and acquisitions; and new product developments, in the global market.

The research methodology used to estimate and forecast the property management market size begins with the collection and analysis of the data on key vendor revenues through secondary sources, including annual reports and press releases; investor presentations of companies; conferences and associations (Real Estate REvive Conference and Expo, Apartment Internet Marketing Conference, NMHC Apartment Strategies Outlook Conference, IntelliEvent Profitability Summit 2017); technology journals and certified publications; and articles from recognized authors, directories, and databases. The vendor offerings have also been taken into consideration to determine the market segmentations. The bottom-up procedure is employed to arrive at the overall market size of the market from the revenue of the key players and their market shares. The property management market expenditures across all regions, along with the geographic split in various segments, are considered to arrive at the overall market size. After arriving at the overall market size, the total market is split into several segments and sub segments, which are then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures are employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments.

The figure below depicts the break-up of profiles of primary participants:

Property Management Market

To know about the assumptions considered for the study, download the pdf brochure

The property management market consists of vendors providing solutions and services including real estate and asset management, leasing management, asset maintenance, and support services to commercial clients across the globe.

Major players in the property management market include IBM (US), Hitachi Vantara (US), JLL (US), Oracle (US), SAP (Germany), Trimble (US), RealPage (US), AppFolio (US), Yardi (US), MCS Solutions (Belgium), and ARCHIBUS (US). The other players include FSI (UK), Planon (Netherlands), Accruent (US), Entrata (US), iOFFICE (US), Indus Systems (US), Total Management (US), Rentec Direct (US), PMX Dynamics (Canada), Hemlane (US), Property Boulevard (US), OfficeSpace (US), CIC (US), Archidata (Canada), and Buildium (US). These leading companies have adopted new product launches and partnerships, agreements, and collaborations as the key growth strategies to improve their services and provide better solutions and associated services to expand their market reach.

Key Target Audience

  • Property management software providers
  • Facility management solution providers
  • Property managers
  • Integration service providers
  • Governments
  • Architects, engineers, and contractors
  • Consultancy firms and advisory firms
  • Regulatory agencies
  • Technology consultants

The study answers several questions for the stakeholders, primarily, which market segments focus in the next 2 to 5 years for prioritizing efforts and investments.

Scope of the Report

The research report segments the property management market into the following submarkets:

By Component:

  • Solution
  • Services

By Solution:

  • Lease accounting and real estate management
  • Asset maintenance management
  • Workspace and Relocation management
  • Reservation management

By Service:

  • Deployment and integration
  • Consulting
  • Support and maintenance
  • Service level agreement management

By Deployment:

  • Cloud
  • On-Premises

By End User:

  • Property managers
  • Housing associations

By Application:

  • Commercial
  • Residential

By Commercial Application:

  • Construction and real estate
  • Government
  • Retail
  • Hospitality
  • Others (Education and industrial)

By Region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Drivers

Increasing demand for SaaS model of property management

The advent of cloud technology is one of the major breakthroughs in the software industry. The cloud technology has greatly affected the way software applications are run and delivered to clients. This change has enabled software developers to focus more on the technology aspect of software while outsourcing the management aspect to cloud service providers. SaaS software enables the user to pay per use and cancel services whenever they want. SaaS software enables the big multifamily property management organizations to easily integrate different kinds of software across the portfolio. Moreover, SaaS model is instrumental in supporting multi-vendor software compatibility with legacy systems. In addition, SaaS platforms are allowing property managers to integrate their property management solutions with advanced payment solutions for easy and seamless transactions.

Evolving trend of workplace mobility

In the current scenario, many people prefer to work from home rather than from a local office, head office, or global branch of an organization and therefore require mobility in terms of access to office resources and data. Moreover, some organizations are considering the use of virtual workplaces for their employees to keep their physical infrastructure needs to a bare minimum, which will further assist these organizations in becoming more flexible and utilizing the office space in a better way. Organizations are increasingly employing the current generation of youngsters who are technology-savvy and believe in the use of various technological devices at the workplace. To keep the flow and speed of work uninterrupted and manage such a workforce, many organizations are looking for management solutions such as workplace management, project management, and other integrated facility management. These solutions help associated property managers and real estate agents to keep a track of all the properties they manage and all the maintenance work necessary for these properties. Thus, the evolving trend of workplace mobility is driving the growth of the property management market.

Restraints

Budget constraints for technological solutions

In recent years, the real estate industry has witnessed high fluctuation across the world. The impact of the global slowdown of 2008 has lasted for many years, especially on the real estate industry. Though the market has seen some stability and rise since 2012, it is still highly fluctuating due to the high imbalance in population versus real estate index. These factors are restraining investors from investing in this market.

Opportunities

Integration of BIM with property management solutions

The primary goal of property managers is to make their properties and facilities more energy efficient and productive for users and operators. Property management vendors can integrate BIM with their management solutions to enhance the property life cycle. BIM is a way of designing, constructing, running and maintaining a building as a collaborative process using a single comprehensive and updated system of computer models, rather than several sets of different tools and documents. When BIM is paired with property management solutions, it acts as a database of building information that can be used by multiple departments. Moreover, BIM enables simulated testing and analysis of building systems before construction. It can also be used in the existing facilities, even if the facilities are built using an integrated legacy three-dimensional model.

Rising demand for outsourcing services

As organizations are evolving, complexities related to property and facility management are also increasing. To face these complexities, companies need advanced technology solutions such as cloud-based and AR-based solutions. However, managing them in-house would be a big challenge for the company as this involves a high cost for hiring technically aware staff and spending on their training for the respected software and their updates time to time. To save the cost, most of the organizations are outsourcing these services to property management service providers. Moreover, challenges related to regulatory compliance can also be tackled with the help of an outsourced agency, shifting the liabilities associated with environmental compliance and healthcare coverage to the outsourcing firm.

Challenges

Integration of property management solutions with legacy systems

Property management solutions cannot be used as standalone software in the facility architecture of an organization. The property software includes different applications such as accounting, leasing, contract management, and payment. These applications should be integrated with the company’s Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) systems, as these need company data for processing different applications. For instance, rental management applications need the data related to property from the date it was rented and the updates about the regular payments so that it can provide a solution for the payment options and regulatory updates in the rent policies. However, the integration of property management solutions with ERP and CRM systems is a complicated task, as the integration is done in different stages.

Lack of technical skills

Although the market is witnessing huge adoption of property management solutions, there is still a lack of technical expertise required to operate and maintain these solutions. Large properties, both commercial and residential, need highly skilled technical managers to manage advanced software such as surveillance systems, leasing, workplace, and contract management. However, organizations have not been proactive in recognizing property management as a separate profession. This has led to a lack of professionals in workplace and property management.

New Product Launches and Product Enhancements

Date

Company Name

Description

May 2018

Oracle (US)

Oracle announced an update for Oracle Property Manager. The updated product features new contract abstraction and migration, lease accounting transformation, global lease management, and enhanced reporting, and it is compatible with the IFRS 16 and ASC 842 accounting standards.

May 2018

Trimble (US)

Trimble announced version 35 of the Manhattan IWMS software. The new update includes a new User Interface (UI), designed for better efficiency, ease of use, and user productivity.

Partnerships, Collaborations, and Agreements

Date

Company Name

Description

June 2018

Yardi (US) and Liberty Property Trust (US)

Yardi partnered with Liberty Property Trust. As per the partnership, Yardi would deliver its Voyager software to Liberty Property Trust to provide solutions for invoice processing, purchasing, and vendor management.

June 2018

RealPage (US) and Princeton Property Management (US)

RealPage partnered with Princeton Property Management. As per the partnership, Princeton Property Management would use multiple RealPage solutions to manage its own 190 properties.

Mergers and Acquisitions

Date

Company Name

Description

July 2018

Trimble (US) and Viewpoint (US)

Trimble acquired Viewpoint, which offers a market-leading, scalable construction management software that integrates contractors’ financial and resource management processes with project operations, and job site and field tasks.

June 2018

Accruent (US) and Maintenance Connection (US)

Accruent announced the acquisition of Maintenance Connection, a leading Computerized Maintenance Management System (CMMS) provider. The acquisition would accelerate Accruent’s predictive and preventive maintenance capabilities.

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North American market into the US and Canada
  • Further breakdown of the European market into the UK, Germany, and France

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Market Opportunities in the Property Management Market
    4.2 Market, By Commercial Application and Region
    4.3 Market, By Region
    4.4 Market Investment Scenario

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand for SaaS Model of Property Management
                    5.2.1.2 Evolving Trend of Workplace Mobility
                    5.2.1.3 Increasing Demand for Smart Building Projects
           5.2.2 Restraints
                    5.2.2.1 Budget Constraints for Technological Solutions
           5.2.3 Opportunities
                    5.2.3.1 Integration of BIM With Property Management Solutions
                    5.2.3.2 Rising Demand for Outsourcing Services
           5.2.4 Challenges
                    5.2.4.1 Integration of Property Management Solutions With Legacy Systems
                    5.2.4.2 Lack of Technical Skills

6 Property Management Market, By Component (Page No. - 36)
    6.1 Introduction
    6.2 Solutions
    6.3 Services

7 Market, By Solution (Page No. - 40)
    7.1 Introduction
    7.2 Lease Accounting and Real Estate Management
    7.3 Asset Maintenance Management
    7.4 Workspace and Relocation Management
    7.5 Reservation Management

8 Market, By Service (Page No. - 45)
    8.1 Introduction
    8.2 Deployment and Integration
    8.3 Consulting
    8.4 Support and Maintenance
    8.5 Service Level Agreement Management

9 Property Management Market, By Deployment (Page No. - 50)
    9.1 Introduction
    9.2 Cloud
    9.3 On-Premises

10 Market, By End-User (Page No. - 54)
     10.1 Introduction
     10.2 Property Managers
     10.3 Housing Associations

11 Property Management Market, By Application (Page No. - 58)
     11.1 Introduction
     11.2 Commercial
     11.3 Residential

12 Market, By Commercial Application (Page No. - 62)
     12.1 Introduction
     12.2 Construction and Real Estate
     12.3 Government
     12.4 Retail
     12.5 Hospitality
     12.6 Others

13 Property Management Market, By Region (Page No. - 69)
     13.1 Introduction
     13.2 North America
     13.3 Europe
     13.4 Asia Pacific
     13.5 Middle East and Africa
     13.6 Latin America

14 Competitive Landscape (Page No. - 90)
     14.1 Overview
     14.2 Competitive Scenario
             14.2.1 New Product Launches and Product Enhancements
             14.2.2 Partnerships, Collaborations, and Agreements
             14.2.3 Mergers and Acquisitions

15 Company Profiles (Page No. - 95)
(Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
     15.1 IBM
     15.2 JLL
     15.3 Oracle
     15.4 SAP
     15.5 Trimble
     15.6 RealPage
     15.7 AppFolio
     15.8 Yardi
     15.9 MCS Solutions
     15.10 ARCHIBUS 
     15.11 FSI
     15.12 Planon
     15.13 Accruent
     15.14 Entrata
     15.15 iOFFICE 
     15.16 Indus Systems
     15.17 Total Management
     15.18 Rentec Direct
     15.19 PMX Dynamics
     15.20 Hemlane
     15.21 Property Boulevard
     15.22 OfficeSpace Software
     15.23 CIC
     15.24 Archidata
     15.25 Buildium

*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 138)
     16.1 Industry Experts
     16.2 Discussion Guide
     16.3 Knowledge Store: MarketsandMarkets’ Subscription Portal
     16.4 Available Customizations
     16.5 Related Reports
     16.6 Author Details

List of Tables (68 Tables)

Table 1 Property Management Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 2 Market Size, By Component, 2016–2023 (USD Million)
Table 3 Solutions: Market Size, By Region, 2016–2023 (USD Million)
Table 4 Services: Market Size, By Region, 2016–2023 (USD Million)
Table 5 Property Management Market Size, By Solution, 2016–2023 (USD Million)
Table 6 Lease Accounting and Real Estate Management: Market Size, By Region, 2016–2023 (USD Million)
Table 7 Asset Maintenance Management: Market Size, By Region, 2016–2023 (USD Million)
Table 8 Workspace and Relocation Management: Market Size, By Region, 2016–2023 (USD Million)
Table 9 Reservation Management: Market Size, By Region, 2016–2023 (USD Million)
Table 10 Property Management Market Size, By Service, 2016–2023 (USD Million)
Table 11 Deployment and Integration: Market Size, By Region, 2016–2023 (USD Million)
Table 12 Consulting: Market Size, By Region, 2016–2023 (USD Million)
Table 13 Support and Maintenance: Market Size, By Region, 2016–2023 (USD Million)
Table 14 Service Level Agreement Management: Market Size, By Region, 2016–2023 (USD Million)
Table 15 Property Management Market Size, By Deployment, 2016–2023 (USD Million)
Table 16 Cloud: Market Size, By Region, 2016–2023 (USD Million)
Table 17 On-Premises: Market Size, By Region, 2016–2023 (USD Million)
Table 18 Property Management Market Size, By End-User, 2016–2023 (USD Million)
Table 19 Property Managers: Market Size, By Region, 2016–2023 (USD Million)
Table 20 Housing Associations: Market Size, By Region, 2016–2023 (USD Million)
Table 21 Property Management Market Size, By Application, 2016–2023 (USD Million)
Table 22 Commercial: Market Size, By Region, 2016–2023 (USD Million)
Table 23 Residential: Market Size, By Region, 2016–2023 (USD Million)
Table 24 Property Management Market Size, By Commercial Application, 2016–2023 (USD Million)
Table 25 Construction and Real Estate: Market Size, By Region, 2016–2023 (USD Million)
Table 26 Government: Market Size, By Region, 2016–2023 (USD Million)
Table 27 Retail: Market Size, By Region, 2016–2023 (USD Million)
Table 28 Hospitality: Market Size, By Region, 2016–2023 (USD Million)
Table 29 Others: Market Size, By Region, 2016–2023 (USD Million)
Table 30 Property Management Market Size, By Region, 2016–2023 (USD Million)
Table 31 North America: Market Size, By Component, 2016–2023 (USD Million)
Table 32 North America: Market Size, By Solution, 2016–2023 (USD Million)
Table 33 North America: Market Size, By Service, 2016–2023 (USD Million)
Table 34 North America: Market Size, By Deployment, 2016–2023 (USD Million)
Table 35 North America: Market Size, By End-User, 2016–2023 (USD Million)
Table 36 North America: Market Size, By Application, 2016–2023 (USD Million)
Table 37 North America: Market Size, By Commercial Application, 2016–2023 (USD Million)
Table 38 Europe: Property Management Market Size, By Component, 2016–2023 (USD Million)
Table 39 Europe: Market Size, By Solution, 2016–2023 (USD Million)
Table 40 Europe: Market Size, By Service, 2016–2023 (USD Million)
Table 41 Europe: Market Size, By Deployment, 2016–2023 (USD Million)
Table 42 Europe: Market Size, By End-User, 2016–2023 (USD Million)
Table 43 Europe: Market Size, By Application, 2016–2023 (USD Million)
Table 44 Europe: Market Size, By Commercial Application, 2016–2023 (USD Million)
Table 45 Asia Pacific: Property Management Market Size, By Component, 2016–2023 (USD Million)
Table 46 Asia Pacific: Market Size, By Solution, 2016–2023 (USD Million)
Table 47 Asia Pacific: Market Size, By Service, 2016–2023 (USD Million)
Table 48 Asia Pacific: Market Size, By Deployment, 2016–2023 (USD Million)
Table 49 Asia Pacific: Market Size, By End-User, 2016–2023 (USD Million)
Table 50 Asia Pacific: Market Size, By Application, 2016–2023 (USD Million)
Table 51 Asia Pacific: Market Size, By Commercial Application, 2016–2023 (USD Million)
Table 52 Middle East and Africa: Property Management Market Size, By Component, 2016–2023 (USD Million)
Table 53 Middle East and Africa: Market Size, By Solution, 2016–2023 (USD Million)
Table 54 Middle East and Africa: Market Size, By Service, 2016–2023 (USD Million)
Table 55 Middle East and Africa: Market Size, By Deployment, 2016–2023 (USD Million)
Table 56 Middle East and Africa: Market Size, By End-User, 2016–2023 (USD Million)
Table 57 Middle East and Africa: Market Size, By Application, 2016–2023 (USD Million)
Table 58 Middle East and Africa: Market Size, By Commercial Application, 2016–2023 (USD Million)
Table 59 Latin America: Property Management Market Size, By Component, 2016–2023 (USD Million)
Table 60 Latin America: Market Size, By Solution, 2016–2023 (USD Million)
Table 61 Latin America: Market Size, By Service, 2016–2023 (USD Million)
Table 62 Latin America: Market Size, By Deployment, 2016–2023 (USD Million)
Table 63 Latin America: Market Size, By End-User, 2016–2023 (USD Million)
Table 64 Latin America: Market Size, By Application, 2016–2023 (USD Million)
Table 65 Latin America: Market Size, By Commercial Application, 2016–2023 (USD Million)
Table 66 New Product Launches and Product Enhancements, 2017–2018
Table 67 Partnerships, Collaborations, and Agreements, 2016–2018
Table 68 Mergers and Acquisitions, 2018


List of Figures (46 Figures)

Figure 1 Property Management Market: Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Research Assumptions
Figure 8 Top 3 Segments, 2018
Figure 9 Property Management Market, By Deployment, 2018
Figure 10 Increasing Demand for Smart Properties and Software-As-A-Service Model of Property Management is Expected to Drive the Property Management Market
Figure 11 Construction and Real Estate Commercial Application Segment and North America are Estimated to Hold the Largest Market Shares in 2018
Figure 12 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 Asia Pacific is Expected to Emerge as the Best Market for Investments Over the Next 5 Years
Figure 14 Property Management Market: Drivers, Restraints, Opportunities, and Challenges
Figure 15 Solutions Segment is Expected to Account for the Larger Market Size During the Forecast Period
Figure 16 In the Services Segment, North America is Expected to Account for the Largest Market Size During the Forecast Period
Figure 17 Lease Accounting and Real Estate Management Segment is Expected to Account for the Largest Market Size During the Forecast Period
Figure 18 In the Lease Accounting and Real Estate Management Segment, Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 19 Deployment and Integration Segment is Expected to Account for the Largest Market Size During the Forecast Period
Figure 20 In the Deployment and Integration Segment, North America is Expected to Account for the Largest Market Size During the Forecast Period
Figure 21 Cloud Deployment Segment is Expected to Account for the Larger Market Size During the Forecast Period
Figure 22 In the Cloud Segment, Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 Property Managers Segment is Expected to Account for the Larger Market Size During the Forecast Period
Figure 24 In the Property Managers Segment, North America is Expected to Account for the Largest Market Size During the Forecast Period
Figure 25 Commercial Segment is Expected to Account for the Larger Market Size During the Forecast Period
Figure 26 In the Commercial Segment, North America is Expected to Account for the Largest Market Size During the Forecast Period
Figure 27 Construction and Real Estate Segment is Expected to Account for the Largest Market Size During the Forecast Period
Figure 28 In the Construction and Real Estate Segment, Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 29 Asia Pacific is Expected to Be the Fastest-Growing Region in the Property Management Market During the Forecast Period
Figure 30 North America: Market Snapshot
Figure 31 Solutions Segment is Expected to Account for the Larger Market Size in North America During the Forecast Period
Figure 32 Asia Pacific: Market Snapshot
Figure 33 Lease Accounting and Real Estate Management Segment is Expected to Account for the Largest Market Size in Asia Pacific During the Forecast Period
Figure 34 Key Developments By the Leading Players in the Property Management Market During 2016–2018
Figure 35 IBM: Company Snapshot
Figure 36 IBM: SWOT Analysis
Figure 37 JLL: Company Snapshot
Figure 38 JLL: SWOT Analysis
Figure 39 Oracle: Company Snapshot
Figure 40 Oracle: SWOT Analysis
Figure 41 SAP: Company Snapshot
Figure 42 SAP: SWOT Analysis
Figure 43 Trimble: Company Snapshot
Figure 44 Trimble: SWOT Analysis
Figure 45 RealPage: Company Snapshot
Figure 46 AppFolio: Company Snapshot

MarketsandMarkets expects the global property management market size to grow from USD 14.47 billion in 2018 to USD 22.04 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period.

The property management market is segmented on the basis of components (solutions and services), deployments, end-users, applications, and regions.

The property management market is gaining traction as property management solutions and associated services empower property managers and allied individuals to manage and maintain property related operations efficiently and cost-effectively. Traditionally, property owners or landlords either hire third-party property managers or manage their property themselves, which requires high time and manpower investment. Nowadays, the easy availability of reliable online as well as standalone property management software has simplified and automated the tasks of property managers and owners.

The solutions segment of property management market includes lease accounting and real estate management, asset maintenance management, workspace and relocation management, and reservation management. These solutions are instrumental in offering reliable, cost-efficient, time-saving, and scalable property management features to end-users and enterprises. The overall services segment is expected to play a vital role in the market growth, and is broadly categorized into 3 segments, namely, deployment and integration; consulting, support and maintenance; and SLA management.

The deployment segment comprises cloud and on-premises. The cloud segment is expected to hold a significant share and gain traction, as most end-users and enterprises opt for the cloud deployment as it is scalable and cost-effective. The end-users segment includes property managers and housing associations. The property managers segment is expected to hold a larger market size, owing to an increasing number of real estate and commercial property developments. The availability of simple and comprehensive property management software solutions in the market encourage property managers to adopt them. The housing associations segment is expected to witness steady growth, as apartments and townships are facing challenges, such as tracking tenants, receiving payments, and leasing agreements. The property management market by application covers commercial (construction and real estate, government, retail, hospitality, and others) and residential.

Property Management Market

North America is estimated to hold the largest market size in 2018, whereas APAC is projected to grow at the highest CAGR in the global property management market as the region is witnessing advanced and dynamic adoption of new technologies in real estate projects. Moreover, APAC is a lucrative market for the vendors of property management solutions and associated services.

SMEs’ budget constraints for the adoption of technological solutions could restrain the growth of property management market.

The study measures and evaluates key offerings and strategies of the major market vendors, including IBM (US), Hitachi Vantara (US), JLL (US), Oracle (US), SAP (Germany), Trimble (US), RealPage (US), AppFolio (US), Yardi (US), MCS Solutions (Belgium), and ARCHIBUS (US). The other players include FSI (UK), Planon (Netherlands), Accruent (US), Entrata (US), iOFFICE (US), Indus Systems (US), Total Management (US), Rentec Direct (US), PMX Dynamics (Canada), Hemlane (US), Property Boulevard (US), OfficeSpace (US), CIC (US), Archidata (Canada), and Buildium (US). These companies offer property management solutions and associated services to commercial clients across regions.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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