LONDON--(BUSINESS WIRE)--The global property management software market is projected to grow to USD 1,868.1 million by 2021, at a CAGR of more than 5% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global property management software market for 2017-2021. Based on deployment, the market is divided into Cloud-based and on-premises segments.
|Property management software is an application that helps property managers to manage their daily operations such as sales, planning, lease tracking, accounting, reporting, and building maintenance. The amplified requirement for transparency in property management is a key driver of the global property management software market.|
Technavio’s research study segments the global property management software market into the following regions:
Property management software market in the Americas
“The Americas occupies a majority 46% of the global property management software market, driven by the need for rent control, increased need for business relationship, and increased investments in real estate,” says Ishmeet Kaur, a lead analyst at Technavio for enterprise application research.
The US and Canada lead the American market for property management software, due to the presence of many property management software vendors and customers. Vendors in the market typically provide integrated solutions like asset management, expense management, lease management, and collaboration management.
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Property management software market in EMEA
The property management software market in EMEA is expected to be worth USD 570.9 million by 2021, driven by increased digital marketing, Internet penetration, and property management process automation. Germany and the UK are the leading revenue contributors to the market in EMEA, with many organizations opting for digital property management software solutions to collaborate with customers and market their properties. Property management software aids enterprises to collect, analyze, and manage the data generated from social media.
Property management software market in APAC
“APAC is expected to grow at a CAGR of close to 7% over the forecast period, the quickest of all the regional segments. The high market potential in emerging economies such as India and China is expected to drive this impressive growth,” says Ishmeet.
The demand for property management software will rise in these countries due to a high demand for property management process automation, increased Internet penetration, and competitive customer responsiveness. Vendors are also micro-targeting customers and adopting personalized marketing solutions to establish a strong market foothold.
The top vendors in the global property management software market highlighted in the report are:
- Console Australia
- London Computer Systems
- MRI Software
- Property Boulevard
- Qube Global Software
- TOPS Software
- Yardi Systems
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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