LONDON--(BUSINESS WIRE)--The global property management software market is expected to post a CAGR of almost 5% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
Property management software offers more convenience compared to traditional ways of managing properties such as Notepad, Microsoft Excel, and other spreadsheets. It helps enterprises respond to complaints and grievances more quickly and eases workload to avoid a delay in services. It also helps end-users document lease management, create rent reminders, provide payment updates, create online payment options, and track responses to advertisements. Moreover, property management solutions help minimize human errors and reduce the time consumed in the process. Many such benefits offered are increasing the popularity of property management software, which is driving the growth of the market.
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As per Technavio, the use of artificial intelligence, machine learning, voice commands, and virtual reality in property management software will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Property Management Software Market: Use of Artificial Intelligence, Machine Learning, Voice Commands, and Virtual Reality in Property Management Software
The integration of AI, machine learning, and voice technologies are expected to improve the property-related transactions in the future. For example, the incorporation of voice technologies lets users give voice commands to search engines, pay bills, and place maintenance requests, complaints, and other service requests. Similarly, the integration of VR with property management software enables property managers to provide the prospective tenants with a tour of the house or amenities without meeting in person. Such technologies improve the customer experience and help companies create a positive brand image.
“Use of data analytics to improve the viability of property management software and the inclusion of insurance as a feature in property management software will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Property Management Software Market: Segmentation Analysis
This market report segments the global property management software market by deployment model (cloud-based and on-premises) and geography (Americas, APAC, and EMEA).
The Americas region led the market in 2017, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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