Property Management Software Market to Grow at a CAGR of 10.1% During 2024-2032; Increasing Demand for Property Management Software to Address Real Estate Preferences to Boost Market Growth

The global property management software market size was valued at USD 22.05 billion in 2023. The market is projected to grow from USD 24.18 billion in 2024 to USD 52.21 billion by 2032, exhibiting a CAGR of 10.1% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Property Management Software Market Size, Share & Industry 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”.

The demand for the property management software is rising for addressing the real estate preferences of the consumers. There is a surging need for improved consumer support and handling further boosting the market growth.

The COVID-19 pandemic had a negative impact on the market growth. The increased disruptions experienced by the real estate companies affected the market during the pandemic.

Growing Integration of Generative AI to Boost Market Expansion

The integration of generative AI as it can automate the data processing tasks, including extraction, data entry, and analysis drive the market growth. This technology can help property management software platforms in handling large volumes of data related to property more efficiently and leads to improved operational efficiency for property managers.

Surging Use of Generative AI Technologies in Property Management Software Platforms to Drive Market Growth

The increasing use of generative AI technologies in the property management software platforms, which has the ability to revolutionize the industry by offering personalized recommendations, virtual assists, energy efficiency optimization, and virtual assists drive the market growth.          

Guesty Launched GuestPay for Vacation Rental

In January 2023, Guesty, a property and hospitality management solution provider, introduced GuestPay, which is a novel payment processing solution. GuestPay is designed mainly for vacation rental and property managers, and it was completely operational for users in the U.S. and was estimated to be introduced for the European customer in mid-2023.

Growing Popularity of SaaS and Cloud Computing to Boost Market Expansion

The increasing popularity of Software-as-a-Service (SaaS) and cloud computing integrated services as the preferred delivery services methods propel the property management software market growth. The growing interest of companies in the market toward SaaS solutions to streamline operations by removing manual input and automating workflows boost the market expansion.

However, the risks, such as political risks and other risks, as real estate business is growing globally may impede market expansion.

Key Players are Offering Different Services Boosting Market Growth

The key players in the property management software market are offering services, such as candidate screening, revenue management, and utility management services, to become the leading providers in the market. The key players operating in the market are AppFolio Inc., Yardi Systems Inc., and others.

Notable Industry Development

• April 2024 – CoStar announced the acquisition of Matterport, a developer of 3D capture solutions, to offer dimensionally precise and virtual tours of any type of property. The company is also expected to acquire all the remaining share of Matterport in a stock or cash transaction that was valued at USD 5.50 per share with an equity values of around USD 2.1 billion and company value at approximately USD 1.6 billion.

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

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

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 (UAE)


• Oracle Corporation (U.S.)


• RealPage Inc. (U.S.)


• CoStar Group (U.S.)

Further Report Findings

• North America held the largest property management software market share in 2023 owing to the property manager and real estate developer offering many opportunities to invest in the asset management services or software.


• Europe is expected to growth at a significant growth rate during the forecast period. The growth is attributed to the digital strategy and infrastructure of the region being updated continuously.


• Asia Pacific is projected to grow with the highest CAGR during the forecast period owing to the growing emerging countries, such as India, Indonesia, and China, in terms of the middle-class spending.


• The Middle East & Africa is anticipated to experience rapid growth due to the impact of changing laws and surging significance of transparency in the real estate business.

Table of Segmentation: