Property Management Software Market Scenario Highlighting Major Drivers & Growth Forecast by 2031

Growing adoption of cloud computing solution, and surging smart real estate infrastructure provide lucrative opportunities for the growth of the Property Management Software Market size. Therefore, during the forecast period, the need to manage costs in post-COVID-19 environments will undoubtedly be a significant growth driver for the use of property management software across various verticals.

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A property management software serves as a centralized computer system for planning, coordinating, and overseeing the daily operations of an accommodation operation. Depending on the software provider, it can manage every aspect of the reservation process as well as front and back-office operations, channel management, guest communication, housekeeping, and maintenance management.

According to property management software market research analyst, the marketing & advertising and property sale & purchase solution segments collectively accounted for around 44.4% market share in 2021, with the former constituting around 26.7% share. The accounting & cash flow management software and property sale & purchase solution segments are expected to witness considerable CAGRs of 7.3% and 5.9%, respectively, during the forecast period.

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Region wise, North America held a significant global property management software market share, due to the country’s expanding hotel capacity, the U.S. currently dominates the regional market for North America. The main drivers of the growth of the property management software industry in North America are the rapid advancements in software as a service (SaaS) technology and rise in awareness for personalized property managing software. 

Key players profiled in the report include Alibaba Cloud International, Console Australia Pty. Ltd., Entrata, Inc., IQware Inc., Microsoft Corporation, Oracle Corporation, PropertyMe Pty. Ltd., REI Master Pty. Ltd., Rockend Pty. Ltd. and TAP Co., Ltd. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the Property Management Software Market.

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KEY FINDINGS OF THE STUDY

  • By solution, in 2021, the marketing & advertising segment had the highest Property Management Software Market Share, with $792.0 million in 2021. However, the property sale & purchase solution segment is expected to witness significant CAGR of 5.9%in during Property Management Software Market Forecast.
  • By deployment model, the cloud-based segment was the highest revenue contributor to the market, with $2,249.8 million in 2021. However, the on-premises segment is estimated to reach is estimated is estimated to reach $948.3 million by 2031, at a significant CAGR of 2.9% during the forecast period.
  • By property type, the commercial segment was the highest revenue contributor to the market, with $998.2 million in 2021. However special-purpose segment is estimated to reach $1,171.6 million by 2031, at a significant CAGR of 4.4% during the forecast period.
  • Region wise, the property management software market growth was dominated by North America. However, Asia-Pacific and Europe is expected to witness significant growth rate during the forecasted period.

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