USD 3.04 billion
Property Management Market Size, Share, Growth Analysis, By Deployment(Cloud, On-Premises), By Application(Residential (Multi-family Housing/ Apartments, Single-family Housing, Others), Commercial (Retail Spaces), By End-user(Housing Associations, Property Managers/ Agents, Property Investors, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45F2032 |
Region:
Global |
Published Date: February, 2024
Pages:
270
|Tables:
94
|Figures:
75
Property Management Market Insights
Global Property Management Market size was valued at USD 3.04 billion in 2019 and is poised to grow from USD 3.15 billion in 2023 to USD 4.85 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).
Property management refers to professional services provided by individuals or companies to run real estate on a daily basis. It is common for property owners or investors to outsource property management as they may have neither time, skills, nor finances to manage their assets by themselves. The property manager acts as a go-between the owner and the property, making sure that the latter operates smoothly and gets its value maximized, including cash generation, e.g. collection of rent. The focus of residential property management is on apartments, condominiums, single-family houses, or student housing. Commercial property management is aimed at overseeing office buildings, retail or industrial spaces, warehouses, or mixed-use properties. Property management covers special-purpose properties, such as holiday rentals, marinas, or even self-storage.
The set of services rendered by the property managers depends on the type of the property, the requirements of the owners, and the management contract itself. The demand for property management during the forecast period will continue to grow concurrently with the population. When the number of residential properties increases, residential property managers’ demand will also rise. The commercial segment of asset management will grow at a stable pace. Commercial property managers maintain non-residential properties such as retails, offices, industrial buildings, and warehouses. They ensure that the commercial property owners are fully appraised regarding their administrative and financial records and receive reminders about all due statutory fees, mortgages, inspections, repairs, and services.
US Property Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Integration
Fastest Growth
Integration
Growth Rate
5.6% CAGR
Global Property Management Market ($ Bn)
Country Share for North America Region (%)
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Property Management Market Segmental Analysis
The global Property Management market is segmented based on deployment, application, end-user, and region. Based on deployment, the Property Management market is segmented into Cloud, On-Premises. Based on application, the Property Management market is segmented into Residential (Multi-family Housing/ Apartments, Single-family Housing, Others), Commercial (Retail Spaces, Office Spaces, Hotels, Others). Based on end-user, the Property Management market is segmented into Housing Associations, Property Managers/ Agents, Property Investors, Others. Based on region, the Property Management market is categorized into North America, Europe, Asia-Pacific, and MEA.
Property Management Market Analysis by Application
The residential segment is the market leader of the property management market and has the biggest market share. The major reason for the substantial market demand for residential property is the growing population, growing urbanization and higher costs of owning housing which have been promoted the demand for rental buildings, predominantly multifamily and apartments in the sector. In addition, despite numerous large firms are into commercial and industrial properties, singular and multifamily and apartments are the most common types of property, and they outnumber other types of properties.
The commercial segment will experience considerable market share growth over the forecast period. This segment refers to the administration and operation of non-residual properties such as office buildings, retail premises, industrial facilities, and commercial complexes. The activities in this segment concentrate on the functions that are common to commercial real estate. Some of the activities include lease negotiations, tenant retention strategies, and facility management services. Some property management companies would even get to the extent of working on required compliance with commercial property regulations.
Property Management Market Analysis by End-Use
In 2023, the market was dominated by property managers/agents. They serve as the central point of contact for property owners and tenants and are responsible for daily tasks such as marketing their property, screening tenants, collecting rents, and taking care of the property. This function explains why the services of property managers have a high presence in the property management field. The property managers have been employing property management software whose use is rising with the ever-increasing trend of worker mobility as well as the emergence of the demand for integrated facility management solutions. In addition, the residential property sector remains with the largest percentage in the overall market. In this respect, they rely a lot on property managers/agents to perform various key functions including carrying out maintenance in addition to tenants’ services.
The housing associations segment is anticipated to register the largest market demand growth over the forecast period. Housing associations provide a wide range of solutions which are comprehensive and interdisciplinary. These services help to increase the operational efficiency and effectiveness of many properties in the market. Moreover, many services provide other essential services, such as maintenance, security, space optimization, sustainability, and more. Furthermore, sustainability efforts by housing associations have gained traction as it integrates the use of efficient energy systems, waste management, and environmental-friendly practices to decrease environmental damage and reduce costs.
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Property Management Market Regional Insights
The market share for property management is the largest in North America, particularly the USA. In the region professional property management plays a significant role in the property market. North America has a highly developed ecosystem of service providers, technology solutions, and industry associations. Moreover, it has well-functioning operation processes and is known for being innovative. A significant force behind the rising demand for housing in North American cities where the population is increasingly mobile, and forms are increasingly urban is the growth of rented apartments. In addition, the North American market is well-regulated in general, as North America has clear legislative corridors for rules, habits and conventions, including legal guidelines for tenant rights, fair housing, and property maintenance.
Asia Pacific is anticipated to be the fastest-growing region in the Property Management Market. With the fast urbanization taking place in Asian economies, there is an increasing amount of new both residential and commercial property. There is also an immense need for professional service in managing these increasing portfolios. The Asian middle-class growth leads to a surge in real estate investment, both in the country and abroad. Many Asian governments have been introducing various policies to take control of the huge investments of foreigners in their local real estate. the Asia Pacific region is characterized by the rapid adoption of new technologies, with an increasing number of property management companies taking advantage of the Internet of Things, including cloud solutions as well as mobile apps to increase the quality of their services.
Global Property Management Market By Geography
- Largest
- Fastest
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Property Management Market Dynamics
Property Management Market Drivers
Growing Rate of Urbanization and Increasing Urban Population
- The real estate market in most cities of the world is growing alongside their populations. The more people there are in a city, the more residential areas it needs to provide. Therefore, the fact that the real estate market is permanently on the rise generates a favorable framework for property management services. Meanwhile, the more properties the landowners have and the more dispersed the latter are, the more challenges for coordinating their disparate parts are cast.
Increasing Investment in Real Estate
- Despite the rise of numerous investment opportunities, real estate still attracts many people, both individual and institutional investors. With an increase in real estate investments, especially rental residences and commercial space, the demand for property management goes up. Mostly, owners looking to derive a stable, long-term return from their investments do not have the time or the necessary knowledge and skills to maintain their properties.
Restraints
Complicated Regulations and Legality
- Legal protections and stipulations about the ownership and management of property are always being adjusted. This can include everything related to tenant’s rights and how property managers and landlords must respond to these, through fair housing regulations, safety standards for property living, and environmental considerations.
Budget Constraints
- As the real estate industry becomes more global, the potential risks will get higher. Real estate investment in developing countries is booming and many dynamic risks may be raised. There are also some operational risks caused by a lack of capital, and real estate brokers choose to work with local developers, such as construction site lateness and fraudulent operations. This may impede the increase in the market share of property management.
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Property Management Market Competitive Landscape
The property management market is increasingly competitive, as the current trends in the real estate market reveal a shift of focus toward improving efficient property operation and provision of superior client service. The global property management market expands, which indicates that the businesses that respond to the trends in the property management market are likely to succeed a great deal. It is critical to predominance, though, that the property management market enters the real estate market. It seems that the property management market adds a lot of value to the real estate market, and in the best possible scenario, the global industry of real estate will not be able to proceed without the property management market.
Property Management Market Top Players Company Profiles
- CBRE Group, Inc.
- JLL
- Cushman & Wakefield plc
- Colliers International Group Inc.
- Savills plc
- Knight Frank LLP
- Newmark Group, Inc.
- BNP Paribas Real Estate
- Hines
- Eastdil Secured, LLC
- Avison Young
- Tishman Speyer
- Brookfield Asset Management Inc.
- Greystar Real Estate Partners
- Prologis, Inc.
- Lincoln Property Company
- FirstService Corporation
- KKR & Co. L.P.
- Lendlease Group
Property Management Market Recent Development
- February 2024, Wood Partners, the 4th largest real estate developer in the USA, sold its property management firm for its 38,000+ units in 17 states to Greystar. It is the largest apartment management company in the USA.
- November 2023, RealPage, Inc. bought On-site Managers, Inc. for roughly 250 million USD in cash. The RealPage intends to continue operating the On-site platform.
- July 2023, Entrata, Inc. acquired Salt Lake City, Utah-based Rent Dynamics, specializing in resident rent-reporting and financial services. The next move by Entrata has been to expand the services available and to affirm its place in property management.
Property Management Key Market Trends
- Implementation of Technology: The novel technologies simplify duties, automate processes, and improve communication, encouraging property owners to select this option over other opportunities. In such a way, businesses that offer owners cloud-based solutions may ensure that they deliver a more comprehensive and up-to-date service that is also less expensive than many traditional ones.
- Higher Expectations from Residents: In recent time residents, especially in urban areas, are interested in a convenient and responsive living experience. They want to avoid the old-fashioned way by going to the leasing office to pay and ask for maintenance. So, property management companies are providing resident portals for online rental payment, maintenance request, and communication. It is increasing tenant satisfaction and is also a seamless experience.
Property Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, urbanization and increasing population create a need for residential, commercial, and industrial property among owners and rent payers. As a result, many property owners, landlords, and real estate professionals are driven to optimize operations regarding property. Due to the critical economic downturn such as the Covid-19 lockdown, the rental property market was affected. Property management market returns were boosted with digital solutions having an impact in various property management avenues.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 3.04 billion |
| Market size value in 2031 | USD 4.85 billion |
| Growth Rate | 5.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Property Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Property Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Property Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Property Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Property Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Property Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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