Property Management Software Market Report 2024 (Global Edition)

Global Property Management Software Market Report 2024 Market Size Split by Solution (Legal and Insurance Consultancy, Rental and Tenant Management, Property Sale and Purchase Solution, Accounting and...

Property Management Software Market Report Description

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Property Management Software Market Insights Video

Competitive Landscape of the Property Management Software Market

In the competitive landscape of the Property Management Software market, several important competitors compete for market share. These firms compete on the variety of functionality available, user experience, pricing, customer service, and integration capabilities with other software systems. To remain competitive, the market is always evolving and incorporating new technologies such as AI and IoT

In April 2024, RealPage, Inc. has unveiled the Lumina AI Platform. Lumina is an innovative data platform that uses artificial intelligence (AI) to improve performance for property managers. It provides improved systems for interaction, intelligence, and management to improve efficiency and production. Lumina uses AI-powered virtual assistants to provide proactive tenant interaction independent of time, location, staffing, or preferred contact channels. Furthermore, the platform simplifies complicated activities, streamlines workflows, and offers enhanced intelligence systems for data-driven decision-making. (Source: https://www.mannpublications.com/mannreport/2024/04/17/realpage-announces-lumina-ai-platform/) In March 2024, CoreLogic established a strategic agreement with LandGate, a commercial real estate and energy data solutions business based in the United States. The agreement intends to improve real estate and energy analytics by merging LandGate's cutting-edge data platform for asset analysis with CoreLogic's rich property data. The collaboration will provide a holistic solution for many stakeholders in the real estate and energy sectors, allowing them to make more informed decisions and identify the best locations for renewable energy projects. (Source: https://ians.in/pr-wire-detail/landgate-announces-strategic-alliance-with-corelogic-to-enhance-real-estate-and-energy-analytics-11-03-2024)

Top Companies Market Share in Property Management Software Industry: (In no particular order of Rank)

• AppFolio
• Inc.
• Console Australia Pty Ltd
• CoreLogic
• Entrata
• Inc.
• MRI Software LLC
• RealPage
• Inc.
• REI Master
• Yardi Systems Inc.
• Zillow Group
• Inc.
• ManageCasa
• SAP
• ResMan
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Property Management Software Market

Which Region Dominates the Property Management Software Market in 2024?

According to Cognitive Market Research, North America has dominated the market. North America generated the most revenue in 2023. The presence of key players in the region explains this. Due to an expansion in hotel rooms across the country, the United States currently dominates the regional market for North America.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). This growth can be linked to the area's rapidly changing infrastructure, the ease of acquiring and maintaining property information, and the growing demand for better data management. Furthermore, factors such as growing government regulations, cloud-based solutions, and outsourced services are major drivers of market progress in the field.

The current report Scope analyzes Property Management Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Property Management Software Market

According to Cognitive Market Research, the global Property Management Software market size was estimated at USD 22651.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 9060.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Property Management Software market with a market size of USD 7148.81 million in 2024 and is projected to grow at a CAGR of 8.6% during the forecast period. The U.S. has a high rate of urbanization, with a large proportion of the population living in cities and metropolitan areas.
• The Canada Property Management Software market had a market share of USD 1087.27 million in 2024 and is projected to grow at a CAGR of 9.6% during the forecast period. Canada is also experiencing significant growth and development
• The Mexico Property Management Software market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 824.51 million in 2024.

Europe Property Management Software Market

According to Cognitive Market Research, the global Property Management Software market size was estimated at USD 22651.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 6795.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031.

• The United Kingdom Property Management Software market had a market share of USD 1141.64 million in 2024 and is projected to grow at a CAGR of 9.9% during the forecast period. In the UK, Bio Property Management Software sales witness an upswing due to the increasing focus on sustainability.
• The France Property Management Software market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 625.18 million in 2024.
• According to Cognitive Market Research, the German Property Management Software market size was valued at USD 132430.30 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. In Germany, Property Management Software surged due to the environmental consciousness in the real estate industry.
• The Italy Property Management Software market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 584.41 million in 2024.
• The Russia Property Management Software market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 1053.29 million in 2024.
• The Spain Property Management Software market is projected to witness growth at a CAGR of 8.2% during the forecast period with a market size of USD 557.23 million in 2024
• The Luxembourg Property Management Software market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 210.66 million in 2024.
• The Portugal Property Management Software market is projected to witness growth at a CAGR of 8.9% during the forecast period, with a market size of USD 142.70 million in 2024.
• The Greece Property Management Software market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 81.55 million in 2024.
• The Rest of Europe's Bio Property Management Software market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 1053.29 million in 2024.

Asia Pacific Property Management Software Market

According to Cognitive Market Research, the global Property Management Software market size was estimated at USD 22651.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 5209.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.

• According to Cognitive Market Research, the China Property Management Software market size was valued at USD 2344.43 million in 2024 and is projected to grow at a CAGR of 12.1% during the forecast period. Property Management Software surged in China due to country's focus on efficiency, digitalization, and automation in the real estate sector
• The Japan Property Management Software market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 718.96 million in 2024.
• The India Property Management Software market had a market share of USD 625.18 million in 2024 and is projected to grow at a CAGR of 14.4% during the forecast period. India's booming real estate sector and increasing urbanization.
• The South Korean Property Management Software market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 520.98 million in 2024.
• The Australian Property Management Software market is projected to witness growth at a CAGR of 12.3% during the forecast period, with a market size of USD 270.91 million in 2024.
• The South East Asia Property Management Software market is projected to witness growth at a CAGR of 13.6% during the forecast period, with a market size of USD 359.48 million in 2024.
• The Rest of Asia Pacific Property Management Software market is projected to witness growth at a CAGR of 12.4% during the forecast period, with a market size of USD 369.90 million in 2024.

South America Property Management Software Market

According to Cognitive Market Research, the global Property Management Software market size was estimated at USD 22651.5 Million, out of which the Latin America held the market share of ar5% of the global revenue with a market size of USD 1132.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Property Management Software market size was valued at USD 484.74 million in 2024 and is projected to grow at a CAGR of 10.6% during the forecast period. Property Management Software flourished in Brazil due to increasing urbanization.
• Argentina's Property Management Software market had a market share of USD 190.27 million in 2024 and is projected to grow at a CAGR of 10.9% during the forecast period. Argentina's rising personal disposable income .
• Colombia Property Management Software market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 100.80 million in 2024.
• Peru Property Management Software market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 92.87 million in 2024.
• Chile Property Management Software market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 81.55 million in 2024.
• The Rest of Latin America's Bio Property Management Software market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 182.34 million in 2024.

Middle East and Africa Property Management Software Market

According to Cognitive Market Research, the global Property Management Software market size was estimated at USD 22651.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 453.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.

• The GCC Countries Property Management Software market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 193.90 million in 2024. Property Management Software sales flourish due to increasing demand for streamlined property management solutions.
• The Egypt Property Management Software market is projected to witness growth at a CAGR of 10.6% during the forecast period, with a market size of USD 47.57 million in 2024.
• The South Africa Property Management Software market is projected to witness growth at a CAGR of 11.3% during the forecast period, with a market size of USD 71.58 million in 2024. Property Management Software sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey Property Management Software market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 38.96 million in 2024.
• The Nigeria Property Management Software market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 47.57 million in 2024.
• The Rest of the MEA Property Management Software market is projected to witness growth at a CAGR of 9.3% during the forecast period, with a market size of USD 53.46 million in 2024.

Property Management Software Market Analysis

Property Management Software Market Solution Segment Analysis

According to Cognitive Market Research, the dominating segment is Rental and Tenant Management. This segment deals with lease management, tenant screening, collection of rent, maintenance tracking, and communication with tenants. In that respect, the Rental and Tenant Management software is crucial for property managers seeking to manage their property and ensure smooth operations efficiently.

Fastest-growing in the Property Management Software market is marketing and advertising. This segment covers tools that support property managers in the proper presentation of their properties to attract potential tenants or buyers and optimize advertisement strategies.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Property Management Software Industry. Request a Free Sample PDF!

Property Management Software Market Deployment Model Segment Analysis

According to Cognitive Market Research, the cloud sector is expected to have the greatest market share and the highest CAGR over the forecast period. Cloud-based solutions allow property managers and landlords to store all documents, including legal contracts, leasing agreements, and contractor SLAs (Service Level Agreements), on a single platform for a low cost. Another benefit of cloud-based software is increased security. Security improvements for traditional property applications are uncommon, leaving data vulnerable to theft, power outages, and natural disasters.

The on-premises category is expected to have a moderate CAR throughout the projected period. The installation of property management software on-premises reduces security issues over the internet, lowering the danger of data breaches and cybersecurity assaults

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Property Management Software Geographic location Segment Analysis

Property Management Software Market Geographic location Segment Analysis

According to Cognitive Market Research, the Urban segment dominates the market. Given the concentration of real estate activities in cities and metropolitan areas, it is normally expected that urban areas will have higher population densities, more rental properties, and greater demand for property management solutions.

The suburban segment is likely to grow fastest during the Property Management Software market growth period. This is because real estate development, rental property, and property management needs are increasing in suburban regions as more people turn towards suburban areas to satiate their housing needs outside city centers. Accordingly, software solutions to effectively manage suburban properties are in huge demand.

• Urban
• Suburban
• Rural

Property Management Software Property type Segment Analysis

Property Management Software Market Property type Segment Analysis

According to Cognitive Market Research, the residential segment is expected to take the largest share of the market. The need for property management software to manage residential properties such as homes, single and multi-story flats, and bungalows is driving the growth of this category. With a growing population, the need for residential buildings is likely to rise. As a result, the demand for asset management systems will rise to accommodate the increased building of residential properties.

The commercial segment is expected to develop steadily. A commercial property manager manages non-residential properties such as retail spaces, offices, industrial buildings, and storage facilities. Commercial property owners maintain thorough administrative and financial records, as well as current fees, mortgages, maintenance, and benefits.

• Residential
• Commercial
• Industrial
• Recreational Marinas

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion