The report" Property Management Software" Market by Deployment (On-premises, and Cloud), By Application (Residential (Single-family Housing Apartments, Multi-family Housing Apartments, and Others) and Commercial (Office Spaces, Retail Spaces, Hotels, and Others)), and End-User (Property Managers and Agents, Housing Association, Property Investors, and Others) - Global Forecast to 2030. "The Global Property Management Software Market share was USD 1.56 billion. It is predicted to reach USD 2.82 billion by 2030, representing a CAGR of 5.73 percent throughout the forecasted period. Some of the most significant factors that are accelerating the overall growth of the market worldwide are the escalating demand for web-based services across the globe, such the Software as a Service (SaaS) technology, and the usage of various other property management software technologies such as tops hoa software, resman property management software, condominium software, hilton pms system, and synxis pm software, etc.
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By Deployment, the 'Cloud' segment held the highest share in 2020
Based on Deployment, the Property Management Software industry worldwide has been broadly classified into On-premises and Cloud. The 'Cloud' segment comprehensively dominated the market, with the largest revenue share of the market at around 61.13 % in 2020. The growing adoption of cloud deployment among the different end-users worldwide, including property managers, corporate occupiers, and housing associations, due to the factors, such as ease of use, fewer disputes with tenants, scalability, and cost-effectiveness, are encouraging the small, medium, and large enterprises to shift completely towards these cloud-based property management solutions. Also, the cloud-based property management software provides endless data integration and an outstanding backup facility which in turn helps in the prevention of data loss. All of these pivotal factors are accelerating the overall growth of this segment adequately.
By Application, the 'Residential' segment accounted for the highest share of the market in 2020
Based on Application, the Global Property Management Software industry has been broadly segregated into Residential (Single-family Housing Apartments, Multi-family Housing Apartments, and Others) and Commercial (Office Spaces, Retail Spaces, Hotels, and Others. The 'Residential' segment accounted for the largest market share of approximately 70.23% in 2020 and continue its dominance throughout the forecasted period. This is because of the increasing investments in real estate organizations across the world to launch new residential projects.
By End-User, the 'Property Managers and Agents' segment led with the highest share of the market in 2020
Based on End-User, the Global Property Management Software industry has been broadly segregated into Property Managers and Agents, Housing Association, Property Investors, and Others. The 'Property Managers and Agents' held the highest revenue share of approximately 37.12% in 2020, owing to the continuous increase in the number of real estate developments and commercial properties across the globe.
Based on Region, "North America" dominated the market with approximately 65.58% of the total market share in 2020. The United States dominated the entire Region comprehensively because of a continuous rise in the number of hotel spaces all across the country.
Europe, on the other hand, held the 2nd-largest market share in 2020 owing to the continuous increase of a large number of residential and commercial buildings, including a higher degree of digitalization prevailing across the Region.
However, the Asia Pacific held the fastest growth rate registering a CAGR of around 7.17% from 2020 to 2030. The continuous escalating demand for improved data administration, as well as the rapidly evolving infrastructure, coupled with accessibility for the collection & maintenance of property information, are accelerating the overall growth of the market in this Region. Furthermore, some of the essential factors like government regulations, rising cloud-based solutions, increasing population, and several outsourcing services are also among the key factors that are continuously supporting the overall market growth in the Region.
Some of the key vendors in the Global Property Management Software Market include Oracle Corporation, Honeywell, Yardi Systems Inc, IBM Corporation, AppFolio Inc, Trimble Inc, Total Management, Jones Lang LaSalle IP Inc, Buildium LLC, Console Australia Pty Ltd, Entrata Inc, InnQuest Software, IQware Inc, CORELOGIC, MRI Software LLC, Yardi Systems Inc, and RealPage Inc.
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