"We Envision Growth Strategies Most Suited
to Your Business"
The global property management market size is predicted to reach USD 28.21 billion by 2028. The growing requirement for better consumer handling and support will have a positive impact on the market during the forecast period. Also, the increasing adoption of property management services in hotel and lodging industry can be a vital factor in accelerating the market growth in the forthcoming years, mentioned in a report, titled “Property Management Market Size, Share & COVID-19 Impact Analysis, By Component (Software, Services), By Deployment (Cloud, On-Premises), By Application (Residential, Commercial), By End-User (Property Managers, Housing Associations, Real Estate Agents, and Others) and Regional Forecast, 2021-2028.” the market size stood at USD 13.88 billion in 2020 and is predicted to exhibit a CAGR of 9.3% between 2021 to 2028.
Introduction of Account Verification Services by Entrata to Bolster Growth
Entrata, Inc, a leading software development company, introduced the bank account verification service to its existing solutions. The company manages buildings such as residential, commercial, and hotels with its efficient SaaS solutions. The company will offer balance confirmation and real-time accounts with new improvements through the new platform, which will drastically reduce the number of fraudulent payments. Furthermore, the increasing collaborations and partnerships among prominent companies will enable speedy expansion of the property management market growth during the forecast period. Entrata, Inc collaborated with AMLI Residential, a significant property management enterprise in the US. AMLI will utilize Entrata's complete and unified platform to run all of its front-end lease, accounting, payments, and communications activities through strategic partnership.
To get a detailed report summary and research scope of this market, click here:
High Implementation of SaaS solutions to Uplift Market
The growing adoption of cloud computing and SaaS (Software-as-a-Solution) platforms will spur the market's opportunities in the forthcoming years. Subscription-based SaaS solutions allow organizations to utilize innovation and improve proficiency, leading to higher efficiency for customers. Moreover, the growing technological advancement and reformed environment regulations will contribute positively to the property management market share. The flourishing real estate and construction industry will spur opportunities for the market in the forthcoming years. The increasing investments in smart city projects by the government and surge in the commercial sector will positively influence the market's growth in the foreseeable future.
Excessive Capital Risk to Hinder Market Potential
The growing concerns regarding capital investments and returns will restrict the adoption of property management. The recurring issues and short-term fluctuations witnessed by property managers such as citing business conditions, changing tax policies, evolving technology, and migration of the people will restrict the market's growth in the forthcoming years. In addition, the lack of funds, operating risks, such as delayed construction sites, or even fraudulent activities faced by real estate agents and local developers will hamper the market growth during the forecast period.
The Report Lists the Main Companies in the Global Market:
Further Report Findings:
The Market is Segmented into:
2017 – 2028
2021 – 2028
2017 – 2019
Value (USD Billion)