Global Property Management Software (PMS) Market 2024-2031

Description

List of Tables

Global Property Management Software (PMS) Market Size, Share & Trends Analysis Report by Deployment(Cloud-Based, and On-Premise), by Application(Residential, Commercial, and Hotel), and by End-Users (Property Managers, Landlords, Real Estate Investors, and Housing Associations) Forecast Period (2023-2030)

The global PMS market is anticipated to grow at a CAGR of 7.2% during the forecast period (2023-2030). PMS has appeared as a specialized application for streamlining property management operations. This computerized system assists property managers and landlords in organizing and overseeing various aspects of their properties and tenant relations. As real estate investments continue to rise, the demand for PMS solutions has witnessed significant growth. For instance, in December 2023, Assetmonk launched a new fractional investment opportunity in Bengaluru's commercial real estate market called AM Whitefield. The investment opportunity consists of an entire floor covering 32,300 sq ft and 31 leased car parking spots with a total valuation of INR 31 crores. Additionally, investors gain instant access to insightful financial performance data, empowering them to track their investments, identify underperforming properties, and make timely strategic adjustments. Modern PMS solutions further enhance appeal by offering automation capabilities, mobile accessibility, and tenant engagement tools, contributing to a more efficient and streamlined property management experience for both landlords and professionals.

The 2023 Lodging Technology study by Hospitality Technology identified challenges in implementing new mobile solutions and integrating them with old-school systems in the hospitality industry. This obstacle persists across chain scales, leading many operators to address it by upgrading their property management systems (PMS) for improved functionality and vendor offerings. The study reports that 69% of respondents planned to add, upgrade, or switch PMS providers this year, exceeding the 54% planning revenue-management system replacements. This suggests a growing recognition of modern PMS capabilities, particularly among independent operators without extensive brand support.

Segmental Outlook

The global PMS market is segmented on the deployment, application, and end-users. Based on the deployment, the market is sub-segmented into cloud-based, and on-premise. Based on the application, the market is sub-segmented into residential, commercial, and hotel. Further, based on end-users, the market is sub-segmented into property managers, landlords, real estate investors, and housing associations.

The Residential Sub-Segment is Anticipated to Hold a Considerable Share of the Global Property Management Software (PMS) Market

Among the applications, the residential sub-segment is expected to hold a considerable share of the global PMS market. One of the primary factors is that residential properties, which include family homes, apartments, condominiums, and townhouses have a large number of units compared to commercial spaces. This vast volume of different types of residential has a very large customer base for residential PMS solutions. For instance, in April 2023, Inhabit launched its new product ResidentIQ an ecosystem for residential property managers. The product brings comprehensive offerings in the operations, resident engagement, insurance, payment, and screening solutions within one simple relationship designed to pair with PMS.

Regional Outlook

The global PMS market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America holds the major share of the market. This prominent share in the market is due to the early adaptation of the market, and the presence of established players such as Yardi and RealPage. The diverse range of property types in North America, from urban high-rises to suburban neighborhoods, necessitates a variety of adaptable PMS solutions. This fundamental density serves as a means for innovation and caters to specific needs within the market.

The European Region is Expected to Grow at a Significant CAGR in the Global Property Management Software (PMS) Market

Among all regions, the European region is anticipated to grow at a considerable CAGR over the forecast period. Factors including expansion of urban centers and the rising demand for rental properties necessitate efficient management solutions are contributing towards the regional market growth. PMS platforms provide automation tools, updated communication functionalities, and tenant engagement features, thereby enhancing their appeal to property managers. The presence of well-known local players such as StoneCloud (UK) and Aareon (Germany) further drives the market expansion. These solutions are specifically adapted to fulfill with European regulations and cultural preferences, offering a familiar interface and features that resonate with local users compared to global offerings. Additionally, several European governments' initiatives promoting smart city development and digitalization provide tailwinds to the PMS market. These initiatives often include incentives for technology adoption in building management, encompassing PMS platforms. Furthermore, Europe's high mobile penetration rate and users' preference for on-the-go accessibility are addressed by cloud-based PMS solutions equipped with mobile apps, enabling convenient property management from any location at any time.

Market Players Outlook

The major companies serving the global PMS market include AppFolio, Inc., Buildium Services, MRI Software LLC, RealPage Inc., Yardi Systems, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2022, MRI Software acquired PropTech Group for $93.4 million. The acquisition supported Proptech to expand its product offerings to customers because MRI has more than 2 million users.

The Report Covers:

Market value data analysis of 2022 and forecast to 2030.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global property management software (PMS) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2027987

1.Report Summary

Current Application Analysis and Growth Potential Outlook
1.1.Research Methods and Tools
1.2.Market Breakdown
- 1.2.1.By Segments
- 1.2.2.By Region

2.Market Overview and Insights

2.1.Scope of the Report
2.2.Analyst Insight & Current Market Trends
- 2.2.1.Key Findings
- 2.2.2.Recommendations
- 2.2.3.Conclusion

3.Competitive Landscape

3.1.Key Company Analysis
3.2.AppFolio, Inc.
- 3.2.1.Overview
- 3.2.2.Financial Analysis
- 3.2.3.SWOT Analysis
- 3.2.4.Recent Developments
3.3.Buildium Services
- 3.3.1.Overview
- 3.3.2.Financial Analysis
- 3.3.3.SWOT Analysis
- 3.3.4.Recent Developments
3.4.MRI Software LLC
- 3.4.1.Overview
- 3.4.2.Financial Analysis
- 3.4.3.SWOT Analysis
- 3.4.4.Recent Developments
3.5.RealPage Inc.
- 3.5.1.Overview
- 3.5.2.Financial Analysis
- 3.5.3.SWOT Analysis
- 3.5.4.Recent Developments
3.6.Yardi Systems, Inc.
- 3.6.1.Overview
- 3.6.2.Financial Analysis
- 3.6.3.SWOT Analysis
- 3.6.4.Recent Developments
3.7.Key Strategy Analysis

4.Market Segmentation

4.1.Global Property Management Software (PMS) Market by Deployment
- 4.1.1.Cloud-Based
- 4.1.2.On-Premises
4.2.Global Property Management Software (PMS) Market by Application
- 4.2.1.Residential
- 4.2.2.Commercial
- 4.2.3.Hotel
4.3.Global Property Management Software (PMS) Market by End-Users
- 4.3.1.Property Managers
- 4.3.2.Landlords
- 4.3.3.Real Estate Investors
- 4.3.4.Housing Associations

5.Regional Analysis

5.1.North America
- 5.1.1.United States
- 5.1.2.Canada
5.2.Europe
- 5.2.1.UK
- 5.2.2.Germany
- 5.2.3.Italy
- 5.2.4.Spain
- 5.2.5.France
- 5.2.6.Rest of Europe
5.3.Asia-Pacific
- 5.3.1.China
- 5.3.2.India
- 5.3.3.Japan
- 5.3.4.South Korea
- 5.3.5.Rest of Asia-Pacific
5.4.Rest of the World

6.Company Profiles

6.1.CONDO CONTROL
6.2.DoorLoop Inc.
6.3.Entrata, Inc.
6.4.Hemlane, Inc.
6.5.Innago, LLC
6.6.ManageCasa
6.7.PayHOA, LLC
6.8.Property Matrix
6.9.Property Vista Software Inc.
6.10.RealPage, Inc.
6.11.Rentalutions, Inc.
6.12.Rentec Direct
6.13.Rentroom LLC
6.14.ResMan, LLC
6.15.SimplifyEm Inc.
6.16.Storable, Inc.
6.17.TenantCloud LLC
6.18.Total Management