Global Real Estate Asset Management Software Market: Overview
The global real estate asset management software market was worth USD 3.04 billion in 2021 and is projected to register a CAGR of 5.6% over 2022-2030, thereby reaching a valuation of USD 4.85 billion by end of the forecast duration.
This software primarily offers online document storage and sharing, financial reporting, electronic lease agreements, online maintenance requests and tracking, integrated banking and account capabilities among other applications
In recent years, AMS solutions have switched from manual to automatic management solutions.
The automatic asset management solution has ameliorated the property management software system, with decreasing human errors and allowing property managers to administer work assignments efficiently to avoid interruptions in service.
An automatic PMS helps in truncating the time taken in responding to complaints and grievances of tenants or owners.
Also, it eases the property management procedures by facilitating rent collection processes, tracking finances, reducing communication gaps, and storing and leasing documents and contracts, among others.
Segmental Analysis of Global Real Estate Asset Management Software Market:
Based on Deployment
On-premises
Cloud
The cloud segment holds for the largest revenue share of more than 58.00% and is expected to continue its dominance. This is attributed to the growing adoption of cloud deployment among various end users including property managers, corporate occupiers and housing corporates.
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Based on Application
Residential
Single Family Housing
Multi-family Housing or Apartment
Others
Commercial
Office Spaces
Hotels
Retail Spaces
Others
The residential segment is accounted for the largest market share of more than 66.00% and is anticipated to continue its dominance over the forecast period. This growth can be attributed to the increasing investments in real estate.
Based on End-User
Housing Associates
Property Investors
Property Management and Agents
Others
The property manager or agents segment has been accounted for the largest revenue share of more than 36.00%. The segment is projected to continue its dominance growing at the fastest CAGR over the forecast period due to an increasing number of commercial properties and real estate developments across the globe.
Based on Region
North America
Canada
US
Europe
Germany
UK
France
Spain
Asia-Pacific
India
Japan
China
Latin America
Mexico
Brazil
North America holds the largest revenue share of more than 62.5%. This is due to the presence of prominent players in the region. The U.S. dominates the North America regional market in the current scenario owing to an increasing number of hotel spaces in the country.
Competitive Landscape:
AppFolio, Inc.
CoreLogic
Console Australia Pty. Ltd.
Entrata, Inc.
InnQuest Software
IQware Inc.
MRI Software LLC
RealPage, Inc.
REI Master
Yardi Systems Inc.
Real estate asset management software is a business application, purposely designed for realty firms. It supervises the process of managing and leasing commercial properties by automating routine functions like Tenant Information Systems (TIS), rent collection, leasing information, invoicing & reporting.
They are utilized to sleek tasks such as bill payment garbling across multiple service providers, billing & invoicing and tenant access control.
The command for real estate asset management software is driven by the expansion in the number of small and midsize enterprises that are looking for cost-effective solutions to manage their properties efficiently.
In addition, there has been an evolvement in the need for real colonialization strategies among large corporations who want to expand their operations across different geographies.
Key Trends: Growth Determinants and Challenges
In traditional ways of asset management, the data is entered manually using Microsoft Excel, other spreadsheets or Notepad, which makes the process incompetent, slow and prone to errors.
Also, landlords either manage their estate themselves or hire third-party property managers, which involves more workforce and time investment.
Therefore, asset management software was created to evade human errors and streamline the work through automation.
The easy availability of AMS has automated and simplified the work of owners and estate managers. Moreover, AMS solutions and computer record-keeping have notably made larger productivity of hospitality industries by upgrading and centralizing multiple computers and devices records.
Also, AMS solutions can be customized as per the requirement of the hospitality industry to further upsurge ease of operations, including automation of bookings, check-in and check-out, hotel inventory supply management, Point of Sale (POS) integration, food and beverage costing, security and lock-rooms and reporting of Key Performance Indicators (KPI).
Moreover, the advent of cloud technology is one of the key advances in the software industry. Cloud technology has significantly changed the way software applications are operated and provided to end-users.
Major Developments:
In July 2019 leading property management software provider ManageCASA inked a partnership deal with Stripe. This deal was aimed at the development of an innovative digital transaction solution for the real estate industry.
Key Takeaways from the report:
- Market and segmental analysis of the global real estate asset management software market.
- Deep- insights on regional analysis of the global real estate asset management software market.
- The global real estate asset management software market was worth USD 3.04 billion in 2021 and is projected to register a CAGR of 5.6% over 2022-2030, thereby reaching a valuation of USD 4.85 billion by end of the forecast duration.
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Major questions answered in the report:
- Which leading companies are contributing in the growth of the global real estate asset management software market?
- What are the recent developments in the global real estate asset management software market?
- Which regions holds the largest accountability for the global real estate asset management software market?
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