LONDON--(BUSINESS WIRE)--The worldwide market for real estate and building management software will grow from $4.9 billion in 2018 to $7.4 billion in 2022. This is according to a new market size and forecast report from independent research firm Verdantix. The analysis aims to be the most accurate on the market by including revenue data from over 400 software vendors, interviews conducted by Verdantix with over 300 real estate and facilities managers, and 100 property owners in 12 countries around the world, to understand spending decisions and budget changes. The forecast combines macroeconomic data, vendor revenue trends, segment-level drivers and customer budget changes, across five segments defined by functional area (property management, real estate investment, maintenance, energy, and workplace management) and three regions globally (North America, EMEA, and Asia Pacific).
The Verdantix report, “Real Estate And Building Management Software Market Size And Forecast 2017-2022 (Global)”, provides analysis that encompasses property management, IWMS, CAFM, CMMS as well as energy management, real estate investment, workplace and space management solutions.
“Growth prospects for all the five segments covered in the study are promising,” commented Susan Clarke, Principal Analyst at Verdantix, “leading vendors are set to benefit from anticipated market growth of 11% annually over the next five years.”
However, vendor strategies will be critical to access this growth. Rodolphe d'Arjuzon, Managing Director, commented: “our work reveals contrasting dynamics and growth rates in each product segment and region. One of the hottest prospects for fast growth is the market for space and workplace management solutions, because real estate managers are pushing hard to optimize their space efficiency, and technology is letting them do this with ever greater efficacy.”
To learn more about the real estate and building management software market opportunity, register for the upcoming Verdantix webinar, “The Future Of The Real Estate And Building Software Market: Key Trends And Market Forecast 2018-2022”, taking place on July 25th, 4pm British Time, 11am Eastern Standard Time, 8am Pacific Standard Time.