This research report categorizes the property management market based on offering, ownership, geographic location, end users, and region.

Northbrook, IL 60062 -- (SBWire) -- 12/13/2023 --The global Property Management Market size is projected to grow from USD 24.7 billion in 2023 to USD 36.4 billion by 2028, at a compound annual growth rate (CAGR) of 8.0% during the forecast period, according to research report by MarketsandMarkets™.

The property management market is expected to grow significantly during the forecast period, owing to various business drivers like the increasing demand for SaaS-based property management solutions for better scalability, the increasing demand for smart building projects and better co-worker spaces, and the growing trend of workplace mobility and remote accessibility also responsible for driving the market's growth.

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258 - Tables
68 - Figures
291 – Pages

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By services, managed services to register for the higher CAGR during the forecast period.

The services segment of the property management market is growing rapidly. The managed services are vital in properly functioning property management solutions. The property management industry is experiencing a growing demand for managed services, as property owners and managers seek to improve efficiency, reduce costs, and gain access to expertise. Managed services can help property owners and managers reduce costs by eliminating the need to hire and train in-house staff, invest in technology infrastructure, and manage complex operational processes. Managed service providers often offer economies of scale and expertise that can lead to significant cost savings.

By solution, Facility Management segment to register for the largest market size during the forecast period.

By solutions, the facility management solution segment is expected to register the largest market size during the forecast period. Facility management solutions offered in the property management market are comprehensive and multifaceted, designed to optimize various properties' operational efficiency and functionality. These solutions encompass various services, including maintenance, security, space utilization, and sustainability initiatives. Moreover, sustainability initiatives have gained prominence, incorporating energy-efficient systems, waste management, and eco-friendly practices to reduce environmental impact while cutting costs.

By region, Asia Pacific accounted for highest growth rate during the forecast period.

Asia Pacific is witnessing significant growth in property management market. Its expansion is primarily attributed to several driving forces; technology adoption is transforming the property management industry in the Asia Pacific region. Property management companies increasingly use technology to improve efficiency, reduce costs, and provide better customer service. The Asia Pacific region has many aging infrastructure, including many residential and commercial buildings. This creates a need for renovation and refurbishment, driving demand for property management services.

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Some major players in the property management market include IBM (US), Oracle (US), AppFolio (US), SAP (Germany), Trimble (US), Hitachi Vantara (US), Yardi (US), RealPage (US), SYNDICO SAL (Lebanon), Entrata (US), London Computer Systems (US), Zumper (US), DockMaster (US),  Dockwa (US), Avail (US), Property Matrix (US), CoStar Group (US), HappyCo (US), JLL (US), MCS Solution (Belgium), Planon (Netherlands), Accruent (US), RentRedi (US), TurboTenant (US), Hemlane (US), Smart Property Systems (US), Innago (US), breezeway (US), Livly (US), DoorLoop (US), Mynd (US), Eptura (US), and Hive (US).

Key Dynamic Factors For Property Management Market:

Technological Progress003A

Software Solutions: The efficiency and efficacy of property management operations are significantly impacted by the implementation of cutting-edge property management software, such as cloud-based options, automation, and artificial intelligence.

IoT Integration: With real-time data on property conditions and increased energy efficiency, the usage of Internet of Things (IoT) devices for smart building and facilities management is becoming more and more significant.

The state of the economy:

Trends in the Real Estate Market: The real estate market and property management are strongly related. The demand for housing, interest rates, property valuations, and other economic factors can have a big impact on the property management sector.

Market Stability: The demand for property management services, particularly in the commercial and residential sectors, can be impacted by economic growth and stability in different locations.

The regulatory landscape

Regulations and Compliance: Property managers must keep up with any changes to the laws governing the real estate sector. Maintaining the seamless running of properties and avoiding legal problems require strict adherence to local, state, and federal standards.

Changes in Demographics:

Urbanisation and Population Growth: The demand for residential and commercial property management services can be impacted by shifts in migration patterns and population density. Trends in urbanisation may affect the kinds of properties that are in demand.

Client Expectations:

Tenant and Owner Expectations: The need for online portals, smartphone apps, and other digital tools to expedite communication and access to property information is being driven by a growing number of tech-savvy clients.

Competitive and Segmentation Analysis:

A thorough competitive and segmentation analysis is crucial for companies trying to make their way through the difficult property management market. The competitive analysis entails locating the major industry participants, evaluating their advantages and disadvantages, and comprehending the tactics that set them apart. Property management firms can better position themselves and take advantage of market opportunities with the aid of this approach. In contrast, segmentation analysis entails dividing the market into discrete groups according to variables like the kind of property, the location, and the preferences of the customers.

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