Property Management Software Market Size to Reach USD 50.79 Billion by 2032; Rising Trend of Workforce Mobility to Improve Market Development

The property management software market size touched USD 22.05 billion in 2023 and is predicted to reach USD 24.18 billion in 2024. The market is anticipated to touch USD 50.79 billion by 2032, recording a CAGR of 9.7% over 2024-2032.

Fortune Business Insights™ presents this information in its latest report titled “Property Management Software Market Size, Share & COVID-19 Impact Analysis, By Deployment (Cloud and On-premises), By Application (Residential and Commercial), By End-User (Property Managers, Housing Associations, Real Estate Agents, and Others), and Regional Forecast, 2024-2032”.

Customers are changing their real estate preferences due to various factors such as improved standard of living and higher disposable incomes. This has prompted software companies to adopt advanced tools, such as property management software to efficiently manage their clients’ preferences. Since the real estate sector is growing at a rapid pace and seeing constant changes, companies are increasing their R&D investments, further boosting the market growth.

Residential Property Managers Used Smart Property Software, Boosting Market Growth During COVID-19 Pandemic

The real estate sector also faced a lot of disruptions due to the COVID-19 pandemic. Some of the challenges faced by this sector included keeping tenants & visitors safe from infection, using advanced cleaning technologies, and maintaining property value. This situation prompted several residential property managers to tweak their strategies and adopt smart property software equipped with innovative technologies such as Artificial Intelligence. This factor surged the demand for property management software during the outbreak period.

Rising Trend of Workforce Mobility to Improve Market Development

Numerous employees are leaning toward the trend of working from home as they want more flexibility in operations. Such a scenario creates the necessity of developing flexibility while accessing a wide range of data and office resources. Many businesses have already started virtualizing their workplace to decrease the need for a physical infrastructure, thereby helping them make better use of their existing resources. These factors will help the market expand.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/property-management-market-102805

Competitive Landscape

Organizations to Provide Targeted Solutions to Cement Market Positions

Many companies operating in the market are planning on offering customized solutions to help their clients manage their properties efficiently. Firms, such as Entrata, Inc., are offering various software and data analytics solutions and services to their real estate clients. These tools will help them manage their residential & commercial properties and hotels efficiently. It also offers effective revenue management, candidate screening, and utility management services with the help of its SaaS solutions. These factors have helped companies cement their market positions.

Notable Industry Development:

• February 2021 - Yardi Systems, Inc. announced the launch of Rent Relief powered by Yardi. This launch was expected to enable landlords and homeowners to manage payments quickly and easily.

List of the Companies Profiled in the Report:

• AppFolio, Inc. (U.S.)


• Archibus, Inc. (U.S.)


• Yardi Systems, Inc. (U.S.)


• CORELOGIC (U.S.)


• Entrata, Inc. (U.S.)


• ManageCasa (U.S.)


• MRI Software LLC (U.S.)


• IBM Corporation (U.S.)


• SAP SE (Germany)


• MAISONETTE (U.A.E.)

Further Report Findings

• North America accounted for the largest property management software market share in 2021 as the region is witnessing a robust expansion in its e-commerce industry. This scenario will present several property managers and real estate developers with lucrative opportunities to invest in asset management services and software. The region is also witnessing a strong growth in real estate investments due to the ever-increasing demand for residential and commercial spaces. These factors are expected to boost the regional market growth.


• Europe is expected to record a significant growth rate during the forecast period as the monetary growth in the region is much more promising in metropolitan areas. In addition, the regional authorities are constantly updating their digital strategy and infrastructure. This factor has augmented the adoption of predictive analytics and business intelligence to create future-ready buildings and employ IoT technologies in a better way to design and redesign various structures. This enhanced transparency has increased investments in real estate markets. This has also boosted the market growth in the region.


• The residential segment may hold the largest market share. The requirement of property management software and solutions to effectively manage residential properties, such as single & multi-story flats, bungalows, and residences, is expected to drive the expansion of this segment. Since the global population is increasing at a strong pace each year, the demand for residential buildings is expected to rise. This factor has spurred the demand for asset management systems to meet the rising demand for residential properties.

Table of Segmentation