Global Property Management Software Market (2021-2027) – By Application, Type of Deployment, End User, and Region – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD) – The report “Global Property Management Software Market by Application, Type of Deployment, End User, Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 – 2027” has been added to ResearchAndMarkets.com offer.
The global property management software market size is expected to reach $ 4.1 billion by 2027, with market growth of 5.4% CAGR during the forecast period.
IRM Software LLC
Yardi Systems, Inc.
Jones Lang LaSalle IP, Inc.
HiRum software solutions
The property management software system has been enhanced by the automatic property management solution which has reduced human errors and enabled property managers to efficiently assign tasks to eliminate downtime. The advantage of an automatic PMS is that it reduces the response time to complaints and grievances from landlords and tenants. In addition, it simplifies property management procedures by reducing communication gaps, storing and renting documents and contracts, simplifying rent collection processes and tracking finances.
It is estimated that the market is experiencing an increase in demand for property management software (PMS) due to the increasing demand for web services including software as a service (SaaS) by property management software providers. SaaS-enabled PMS helps manage day-to-day functions such as building maintenance, accounting, and tenant and lease tracking. The software provides a centralized platform where a person can view all properties as a whole and also allows oversight of other property related functions, such as meeting tenant needs and maintenance tasks. It also offers the ability to share and store documents online, build financial reports, account capabilities, integrated banking services among other applications, electronic leases, and maintenance requests and tracking. in line.
COVID-19 impact assessment
Due to the COVID-19 outbreak, there has been a major disruption in most businesses around the world. While some industries have seen a reduction in their activities and production, while others have faced difficult results such as restrictions on movement and closure of businesses. In addition, the real estate sector has seen both a rise and a fall. At the onset of the pandemic, the main concern of owners, managers and real estate companies was to ensure the safety of visitors and tenants and to strictly adhere to government rules and regulations.
Therefore, these factors are responsible for the decline in sales of real estate. Yet various schools, colleges, and offices have remained closed, and businesses have embraced the world-famous trend of working from home. In contrast, property managers have had the opportunity to come up with and use automation tools such as intelligent, AI-enabled property management software. The function of an AI-enabled tool is to collect data over Wi-Fi and automatically respond to prospects. This will help improve customer service and reduce operational risks.
Market growth factors:
Real estate investment booms
The key factor that has increased investment in commercial real estate is the growth of construction activity in this sector across the world. Several factors such as capital flows, talent evolution, PropTech platforms, cyber risk management and the influence of technology are expected to strengthen investments in commercial real estate. The main factor that stimulates real estate investment is the efficient management of the property by centralized administration, even remotely.
Integration of cloud-based technologies in property management
Cloud-based property management software focuses on installing actuators and sensors in luxury hotel infrastructure. As the property management industry expands with new services, the cloud helps manage bandwidth, additional storage, and IT demands. The software also helps the system to support updates to operating systems and other software; therefore, it will also reduce the waste of time.
Market restriction factor:
Increase in cost and training time
Some software is suitable for small businesses, while others are suitable for large businesses. It takes a long time to learn how to use this software. In addition, the integration of this software consumes a lot of time because on the one hand, time is spent choosing the ideal software, and on the other hand, time is devoted to learning it. Each type of software has its characteristics and learning various software will be a difficult task.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
2.1.2 Market composition and scenario
2.2 Key factors influencing the market
2.2.1 Market drivers
2.2.2 Market restrictions
Chapter 3. Competitor Analysis – Global
Chapter 4. Global Property Management Software Market by Application
Chapter 5. Global Property Management Software Market by Deployment Type
Chapter 6. Global Property Management Software Market by End User
Chapter 7. Global Property Management Software Market by Regions
Chapter 8. Company Profiles
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