Property Management Software Market Is Driven By Increasing Development Of Infrastructure Across The Globe

According to a new market research report published by Credence Research “Global Property Management Software Market (Component (Software/Solution, Services);  Deployment (On-Premise, Cloud);  Application (Commercial, Residential); End-User (Housing Associations, Property Managers)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall property management software market worldwide has registered a value of US$ 13.20  Bn in 2018 and is set to grow with a CAGR of 5.8 % during the forecast period.

Market Insights

The global property management software (PMS) market is highly driven by increasing urbanization and digitalization globally. The development of technology has increased the development of new software related to property management which is used for keeping the track of maintenance, repair, and other information associated with the property. Additionally, the PMS is also been driven due to increasing disposable income among the individuals and growing an increasing number of investors across the globe.

In June 2018, Yardi partnered with Liberty Property Trust. With this partnership, Yardi would deliver its Voyager software to Liberty Property Trust to offer various solutions for different functioning such as purchasing, invoice processing, and vendor management. Similarly, in July 2018, Trimble acquired Viewpoint, which offers a market-leading, scalable construction management software company based in the US that integrates contractors’ financial and resource management processes. This acquisition is expected to strengthen the process of property management of the company.

Based on the application, the property management software market has been segmented as commercial & residential. The commercial segment accounts for the largest market share of over 55% in 2018. The segment is driven due to the increasing demand for the workplace globally. Several companies and government agencies are investing in the properties for the development of their offices. Moreover, the buying and selling of various commercial properties among hotels, government, construction & real-estate, retail shops, and others are also expected to drive the segment globally. This software offers all the information about the property and any disputes taking place over it.

Asia-Pacific is expected to be the fastest-growing region due to increasing investment in the development of the infrastructure by the individuals, government, private company’s charity trust, and others. The increasing globalization and urbanization in the country are expected to drive the market in the region. Moreover, the increasing fraudulent associated with the property and flats is expected to drive the market in the region. China accounts for the largest market share in the Asia-Pacific region due to the growing population and continuous development in the infrastructure.

Some of the prominent players operating in the Property Management Software market include JLL Incorporated, IBM Corporation, Oracle Corporation, Trimble Inc., SAP SE, RealPage Inc., Yardi Systems Inc., Console Australia,  AppFolio Inc., MCS Solutions LLC, FSI Inc., ARCHIBUS Inc., Planon Corporation, Entrata Inc., Accruent LLC, London Computer Systems, and iOFFICE Inc.

 

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