What is the global market size of Property Management Market?

Global Property Management Market size was valued at USD 3.04 billion in 2021 and is poised to grow from USD 3.15 billion in 2022 to USD 4.85 billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).

Who are the key vendors in the Global Property Management Market?

The global property management suppliers are concentrating on new product development, which helps to strengthen their market position. Companies provide targeted solutions for owners and managers looking to expand their market penetration. Entrata, Inc. is a multinational corporation that provides software and data analytics solutions to real estate organizations. Owners and property managers benefit from the company's solutions for managing residential, commercial, and hotel properties. Because of its excellent SaaS solutions, the company has emerged as a leading market provider of candidate screening, revenue management, and utility management. These companies are focusing their efforts on the commercial sector of the market in order to give property managers and agents with current and effective solutions. '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'

What is the key driver of Global Property Management Market?

Property management SaaS models are becoming increasingly popular

What is the key market trend for Global Property Management Market?

Growing opportunity in hotel property management is a growing trend in property management market. Due to the stressful nature of owning and running a hotel, hotel property management is one of the fastest-growing areas in the property management business, as demand far outpaces new supply. A rising number of hotel owners are eager to offload the stress and use the services of the United States' already developed property management business. Hotel owners are quickly realizing the advantages of property management services and direct labor, which includes revenue management, human resources, accounting, and marketing. Because property management businesses have several clients, all of this is available at a low cost. The market opportunity is enormous, allowing providers to swiftly enhance their services and expand their client base.

Which region accounted for the largest share in Global Property Management Market?

In 2021, North America held the highest revenue share of more than 60% in the global property management market share. This is due to the presence of major players in the region. The United States currently dominates the North America regional market due to an increasing number of hotel rooms in the country. In 2021, Europe held the second-largest share in the global property management market. The presence of a large number of commercial and residential buildings, as well as a high level of digitization in the region, can be credited to the region's growth.

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

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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).

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. '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'

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.

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.

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.

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What is the global market size of Property Management Market?

Who are the key vendors in the Property Management Market?

What is the key driver of Property Management Market?

What is the key market trend for Property Management Market?

Which region accounted for the largest share in Property Management Market?

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