$489.02 Million Growth in Global Property Management Software Market During 2020-2024 | Featuring Key Vendors Including AppFolio Inc., Console Australia Pty Ltd., and Entrata Inc. | Technavio
LONDON--(BUSINESS WIRE)--Feb 2, 2021--
Technavio announces the release of its latest report on the property management software market. The market is segmented by deployment (cloud-based and on-premise) and geography (North America, Europe, APAC, South America, and MEA). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and market behavior across various segments.
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Technavio has announced its latest market research report titled Global Property Management Software Market 2020-2024 (Graphic: Business Wire)
Property Management Software Market: Key Findings
- Property management software market value to grow by USD 489.02 million at over 5% CAGR during 2020-2024
- 38% of market growth to originate from North America during the forecast period
- Based on the deployment, the cloud-based segment will offer maximum opportunities for vendors during the forecast period
- Property management software market is expected to have a positive impact due to the spread of COVID-19
Property Management Software Market: Growth Drivers
The rising awareness of property management software is one of the prime factors driving the growth of the market. The traditional way of property management uses tools such as Microsoft Excel, Notepad, or other spreadsheets. This process is tedious, time-consuming, and prone to human errors. Hence, end-users are increasing the adoption of property management software as it is very convenient and enables quick responses to complaints and grievances, thereby avoiding delays in services. These benefits are driving the demand for property management software.
“The need to deal with huge volumes of data will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Property Management Software Market: Major Vendors
AppFolio Inc. offers AppFolio Property Manager, an all-in-one cloud-based solution designed to modernize and automate student housing, communities, residential, and commercial properties.
Console Australia Pty Ltd.
Console Australia Pty Ltd. operates its business through segments such as Console Cloud, Console Gateway, Console RPO, and Console App. The company provides property management software including Console Cloud, Console Gateway, and Console RPO.
Entrata Inc. operates its business through segments such as Management, Marketing, Leasing, and Residents. The company provides Entrata property management software that allows its customers to spend less time managing their software and more time managing their properties.
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CONTACT: Technavio Research
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INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE TECHNOLOGY CONSTRUCTION & PROPERTY SOFTWARE
SOURCE: Technavio Research
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