Property Management Software Market Size, Share, Growth Analysis, By Deployment(Cloud, On-Premises), By Solution(Software [Rental Listings Management, Applicant Management, Reporting & Analytics, Maintenance Activities Management), By Application(Residential [Multi-family Housing/ Apartments, Single-family Housing, Others], Commercial [Retail Spaces), By End-use(Housing Associations, Property Managers/ Agents, Property Investors, Others), By Region - Industry Forecast 2024-2031

Global Property Management Software Market size was valued at USD 5.4 billion in 2022 and is poised to grow from USD 5.88 billion in 2023 to USD 11.54 billion by 2031, growing at a CAGR of 8.8% during the forecast period (2024-2031).

Property management software providers, backed by a large number of technical and financial resources, are expected to gain a dominant position in the industry, as they can respond to the market needs. Notably, the competitive condition in this market will become highly intensified, as more technological innovations, product extensions and varying strategies will be characteristic of the leading vendors. The growing demand for the smart networking systems is expected to affect the property management software market share in the anticipated period. The industry has developed due to the rise of the smart real estate infrastructure development, and the application of the cloud computing solutions and software-as-a-service platform.  'AppFolio, Inc. (US) ', 'Console Australia Pty Ltd (Australia) ', 'CoreLogic (US) ', 'Entrata, Inc. (US) ', 'MRI Software LLC (US) ', 'REI Master (US) ', 'Yardi Systems Inc. (US) ', 'Zillow Group, Inc. (US) ', 'ManageCasa (US) ', 'SAP (Germany) ', 'ResMan (US) ', 'Buildium LLC (US) ', 'Procore Technologies (US) ', 'TenantCloud (US) ', 'Rentec Direct (US) ', 'Rentlytics (US) ', 'TenantSquare (US) ', 'Propertyware (US) ', 'SimpleRent (US) ', 'VTS (US) ', 'Landlord Studio (UK)'

There are several variables that have been contributing to the rapid expansion of the software as a service market, including the increased utilization of hybrid & public cloud-based solutions, tool integration & centralized data-driven analytics. Software as a Service has had substantial implications for the property management software market due to its affordable accessibility & scalability, less IT complexity & greater deployment rates.  

Integration of Disruptive Technologies: A key growth opportunity for the PMS market is the integration with emerging technologies to provide innovative solutions and gain a competitive edge. Integration with AI & ML, the Internet of Things and predictive analytics facilitates usage of technology in new ways. With the help of these technologies, property management software can offer their customers more advanced facilities and, thus, attract more buyers and develop the market.  

North America dominated the market for property management software in 2023, with the highest revenue share. The high speed of the internet, advanced cloud-related information storage and transmission, and availability of high-tech software and hardware components in the region have provided a perfect background for the promotion and implementation of PMS. North American companies and manufacturers have also been at the forefront of developing and applying the state-of-the-art technologies, which has resulted in the dominance of the region in the studied market. The concentration of population in urban localities has been integral in the formation of large residential houses, business premises, and mixed land use.