Real Estate Software Market by Function, Property, End-User, Deployment

Description

List of Tables

[196 Pages Report] The Real Estate Software Market size was estimated at USD 14.56 billion in 2023 and expected to reach USD 16.27 billion in 2024, at a CAGR 12.96% to reach USD 34.19 billion by 2030.

Real estate software aids in coordinating and managing relationships effectively among real estate buyers and sellers, developers, brokers, and third-party agents. It helps manage everything related to business inside the customer relationship management (CRM) system, from preparing quotes and managing property details to addressing the requirements of real estate agents. It includes lead generation software, property management, open house management software that help streamline listing and transaction management in real estate. Real estate software saves time, effort, and resources by automating every process inside the system, further simplifying real estate operations. The benefits of real estate software include faster workflow, monitoring customer data, integrated marketing, and storing and managing information from multiple sources. The real estate software market is growing with the increased need for easy management of real estate agents, brokers, and financial institutions and high use of the cloud-based real estate sector. The evolution of the real estate software market is supported by a rise in government initiatives for digitalization in the real estate sector. On the other hand, functional limitations of real estate software and concerns associated with security and privacy breaches are hindering the market growth of real estate software. However, technological advancements in real estate software and the potential use of real estate software in building & construction projects with rising investments create growth opportunities for the real estate market.

KEY MARKET STATISTICS
Base Year [2023]	USD 14.56 billion
Estimated Year [2024]	USD 16.27 billion
Forecast Year [2030]	USD 34.19 billion
CAGR (%)	12.96%

Function: Increasing application of real estate software to streamline the business operations and manage properties effectively

Brokerage management software is a real estate management solution created for brokers and real estate agents to work faster, more efficiently, and more productively for the convenience of their clients and streamlined back office. This software helps to automate the process of handling property listings, documents, transactions, and leads. Facility management software allows organizations and businesses to manage their entire repair and maintenance program, aiding them to save time and money by properly managing their buildings, assets, and occupants more effectively. Facility management software has various benefits, including asset tracking and management, better business decisions, property management, space optimization, financial control, regulatory compliance, and employee well-being. Integrated workplace management systems is a solution that helps manage various spaces, such as commercial properties and offices, under one system. Companies applying integrated workplace management systems can significantly increase productivity and revenue flow, as the software helps reduce facility management costs and improve space utilization. Lead management and customer support & marketing include real estate marketing tools that automate lead generation activities, such as email marketing campaigns or online advertising for property listings, while providing CRM functionalities to manage customer interactions effectively. Small to large real estate companies and agents leverage these tools to increase lead conversion rates and improve client relations. Real estate asset management software is a tool that allows real estate companies to manage their assets, including commercial and residential. It includes various features such as maintenance management, lease management, financial analysis, and reporting. This software helps improve asset performance and enhance operational efficiency while reducing risks in real estate management.

Property: Significant penetration of real estate software in commercial sector

Commercial real estate (CRE) software caters to the unique needs of managing and analyzing properties utilized for business purposes. These properties include office buildings, retail centers, industrial warehouses, and multi-family complexes. The primary focus of CRE software is streamlining property management operations, enhancing tenant relations, optimizing lease administration & accounting processes, and assisting with various investment analyses. Residential real estate (RRE) software targets the requirements of managing and transacting residential properties, such as single-family homes, condominiums, and apartments. RRE software emphasizes simplifying property management tasks, streamlining property listings & transactions, enhancing the homebuyer experience, and offering robust CRM features for agents and brokers. Commercial real estate software optimizes lease administration, strengthens tenant relationships, and provides robust investment analysis tools. On the other hand, residential real estate software emphasizes enabling seamless property listings & transactions, and offering a comprehensive CRM system for agents, and managing mortgage & loan origination processes.

End-User: Expanding use of real estate software across architects & engineers and project managers

Architects & engineers use real estate software that supports design visualization, building information modeling (BIM), and integrated project delivery (IPD) solutions. These professionals value tools that facilitate collaboration and streamline workflows while maintaining precision and accuracy in their designs. Project managers prioritize real estate software that offers robust project management features such as task tracking, resource allocation, budgeting, scheduling, risk management, reporting tools, and communication platforms. They seek solutions that streamline decision-making processes while maintaining transparency across the entire project lifecycle. Real estate agents use real estate software that offers customer relationship management (CRM) capabilities, property listing and marketing tools, transaction management, lead generation, and collaboration features. Architects & engineers require software focusing on design visualization and BIM capabilities, whereas project managers prioritize software features offering robust project management tools. Real estate agents, on the other hand, seek solutions that streamline sales processes and client communication through CRM functionalities.

Deployment: Proliferating demand for on-cloud real-estate software deployment from the real-estate service providers

On-cloud deployment refers to using cloud-based infrastructure that allows various users to access the software using a web browser, eliminating the requirement to install the application on their servers. The primary advantages of on-cloud deployment include reduced IT costs, scalability, automatic updates, and remote accessibility. Businesses with limited IT resources or those seeking to minimize upfront capital investments may prefer on-cloud deployment due to its cost efficiency and ease of setup. Moreover, firms with a geographically dispersed workforce can benefit from the remote accessibility offered by cloud-based solutions. On-premises deployment involves installing real estate software directly onto an organization's servers and managing the application in-house. This approach provides greater control over data security, customization, and integration with existing systems. However, on-premises deployment often requires higher upfront expenses and more dedicated IT resources for maintenance and updates. Businesses prioritizing data privacy or having stringent compliance requirements may prefer on-premises deployment to maintain complete control over their software solutions. Additionally, organizations with complex infrastructure or unique business needs can benefit from the customization options offered by on-premises installation.

Regional Insights

Rising investment in the real estate sector, with real estate agents adopting advanced technologies in Mexico, Argentina, Brazil, Canada, and the United States, are all contributing to the growth of the real estate software market in the Americas. The upsurging demand by real estate managers to manage their businesses in emerging economies, such as India, China, the Philippines, Singapore, and Thailand, and the increasing quest for better properties for commercial and domestic properties is creating a significant platform for the real estate software market in the Asia-Pacific region. The shift toward cloud-based real estate software solutions and an explosion of new software vendors entering developing economies are influencing the market growth in EMEA. Further advances in real estate software to access and use real estate software from any device in any location are expected to boost the EMEA region's market expansion in the forecast period.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Real Estate Software Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Real Estate Software Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Real Estate Software Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Altus Group, AppFolio, Inc., Astral Technologies, ATTOM Data Solutions, BairesDev LLC, Capgemini SE, Chetu, Inc., Cognizant Technology Solutions Corporation, Commissions Inc., CoStar Group, Inc., Daemon Information Systems, Elise A.I. Technologies Corp., Eptura, Inc., Fiserv, Inc., Flueid Software Corporation, Fortive Corporation, Infosys Limited, InsideRE, LLC, Intellias LLC, International Business Machines Corporation, ITAakash Strategic Soft.(P) Ltd., Kellton, Ltd., Lone Wolf Technologies Inc., Microsoft Corporation, MRI Software, LLC, Newmark Group, Inc., Oracle Corporation, Planon Group, Ramco Systems Ltd., RealPage, Inc., Salesforce, Inc., SAP SE, Sell.Do by Amura Marketing Technologies Pvt. Ltd, Shenzhen Mingyuan Cloud Technology Co., Ltd., Sierra Interactive LLC, STRATAFOLIO, INC., Tango Management Consulting, Inc., UpKeep Technologies, Inc., Yardi Systems, Inc., Zillow Group, Inc., and Zoho Corporation Pvt. Ltd..

Market Segmentation & Coverage

This research report categorizes the Real Estate Software Market to forecast the revenues and analyze trends in each of the following sub-markets:

Function
- Brokerage Management Software
- Facility Management Software
- Integrated Workplace Management Systems
- Lead Management, Customer Support & Marketing
- Real Estate Asset Management Software

Property
- Commercial
- Residential

End-User
- Architects & Engineers
- Project Managers
- Real Estate Agents

Deployment
- On-Cloud
- On-Premises

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Real Estate Software Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Real Estate Software Market?

3. What are the technology trends and regulatory frameworks in the Real Estate Software Market?

4. What is the market share of the leading vendors in the Real Estate Software Market?

5. Which modes and strategic moves are suitable for entering the Real Estate Software Market?

Product Code: MRR-43127F727A37

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand for integrated property management solutions to streamline workflows
  - 5.1.1.2. Government initiatives for digitalization in the real estate sector
- 5.1.2. Restraints
  - 5.1.2.1. High costs and functional limitations associated with the implementation of real estate software
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of new and innovative technology in real estate software
  - 5.1.3.2. Significant investments in the building & construction sector and urban planning
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with security and privacy breaches
5.2. Market Segmentation Analysis
- 5.2.1. Function: Increasing application of real estate software to streamline the business operations and manage properties effectively
- 5.2.2. Property: Significant penetration of real estate software in commercial sector
- 5.2.3. End-User: Expanding use of real estate software across architects & engineers and project managers
- 5.2.4. Deployment: Proliferating demand for on-cloud real-estate software deployment from the real-estate service providers
5.3. Market Trend Analysis
- 5.3.1. Boosting construction activities coupled with a growing need for process automation in the real estate industry in the Americas region
- 5.3.2. Flourishing real estate sector to magnify adoption of digital real estate solutions in the APAC region
- 5.3.3. Significant breakthroughs in real estate software to boost its adoption by the real estate sector in the EMEA region
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Real Estate Software Market, by Function

6.1. Introduction
6.2. Brokerage Management Software
6.3. Facility Management Software
6.4. Integrated Workplace Management Systems
6.5. Lead Management, Customer Support & Marketing
6.6. Real Estate Asset Management Software

7. Real Estate Software Market, by Property

7.1. Introduction
7.2. Commercial
7.3. Residential

8. Real Estate Software Market, by End-User

8.1. Introduction
8.2. Architects & Engineers
8.3. Project Managers
8.4. Real Estate Agents

9. Real Estate Software Market, by Deployment

9.1. Introduction
9.2. On-Cloud
9.3. On-Premises

10. Americas Real Estate Software Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Real Estate Software Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Real Estate Software Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Tango, Provider of Cloud-Based Real Estate and Facilities Management Software, Acquires WatchWire
- 13.3.2. Real Estate Media Software Platform Aryeo Joins Showingtime+ to Help Deliver Richer Home Shopping Experiences
- 13.3.3. ServiceChannel Partners with Accruent to Deliver Integrated Real Estate and Facilities Management Solution for Multi-Site Business Operators
- 13.3.4. ANAROCK Patents AI-powered Proptech Tool ASTRA
- 13.3.5. EliseAI Raises USD 35 Million in Series C Funding to Continue Revolutionizing the Real Estate Industry Through AI-Powered Automation
- 13.3.6. Measurabl Closes USD 93 Million Series D to Fuel Global Expansion of Major Real Estate ESG Platform
- 13.3.7. Planon Partners with SAP to Deliver Integrated Real Estate and Workplace Management Solutions
- 13.3.8. Attom Launches User Friendly On-Demand Data Solution - Property Navigator
- 13.3.9. Engrain Raises USD 12 Million in Series A Funding led by RET Ventures to Drive Platform Improvements for Property Mapping Tech
- 13.3.10. MRI Software Completes PropTech Group Acquisition
- 13.3.11. Proptech Startup Landeed Raises USD 8.3 Million Funding
- 13.3.12. MRI Software Unveils Its Next-Generation Real Estate Platform
- 13.3.13. Real Estate Software Leader Sierra Interactive Joins ASG to Fuel Next Phase of Growth and Innovation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio