What is the global market size of Real Estate Software Market?

Global Real Estate Software Market size was valued at USD 4.25 billion in 2021 and is poised to grow from USD 4.9 billion in 2022 to USD 17.66 billion by 2030, growing at a CAGR of 15.31% in the forecast period (2023-2030).

Who are the key vendors in the Global Real Estate Software Market?

Global Real Estate Software market is relatively fragmented, with a high level of competition. The main strategies of the competitors in the Real Estate Software Market are partnerships, acquisitions, and product releases. Product Launches are one of the main techniques used by industry players. Microsoft Corporation is the market leader in real estate software, according on the analysis shown in the Cardinal matrix. CoStar Group, Inc., SAP SE, and Altus Group Ltd. are a few of the leading market inventors. 'Yardi Systems, Inc.', 'MRI Software LLC', 'RealPage, Inc.', 'CoStar Group, Inc.', 'Procore Technologies, Inc.', 'Accruent LLC', 'AppFolio, Inc.', 'Buildium LLC', 'Planon Corporation', 'IBM Corporation', 'Oracle Corporation', 'SAP SE', 'Trimble Inc.', 'Altus Group Limited', 'The Sage Group plc', 'Archibus, Inc.', 'BlueFolder, Inc.', 'SpaceIQ, Inc.', 'Angus Systems Group Ltd.', 'iOFFICE, Inc'.

What is the key driver of Global Real Estate Software Market?

Due to the ability to enhance business productivity standards, real estate software has been more and more in demand, which has significantly contributed to the market's growth. Since the real estate industry must operate in many different sectors, including websites, online marketing, social media, and many others, there is a greater need for effective real estate management solutions. Due to the growing number of clients and requirements, it is also time-consuming to manually create and manage individual accounts for each work location. As a result, organizations highly depend on real estate software, which raises productivity standards for businesses.

What is the key market trend for Global Real Estate Software Market?

The use of machine learning and artificial intelligence is a developing trend in the real estate software industry. Applications powered by artificial intelligence (AI) are helping real estate organizations with marketing initiatives, property portfolio management, leasing, accounting, operations, and many other tasks. Virtual tours are one of the most recent advancements in AI for the real estate business. For houses that are still being built or for clients who are located abroad, virtual tours are offered so that the client can experience the property in three dimensions.

Real Estate Software Market Size, Share, Growth Analysis, By Type(Customer Relationship Management Software, Enterprise Resource Planning Software, Property Management Software, Contract Software), By Deployment(Cloud, On-premise), By End-use(Architects & Engineers, Project Managers, Real Estate Agents, Others), By Application(Commerical, Residential), By Region - Industry Forecast 2025-2032

Q: Which region accounted for the largest share in Global Real Estate Software Market?

North America dominated the market for real estate software in 2022 and accounted for nearly 35% share of the global revenue. An increase in urbanization and infrastructure development activities and the adoption of new technologies for various commercial and residential applications are positively impacting the market growth in this region. The COVID-19 pandemic has significantly impacted consumer and business sentiments in the region, leading to the low growth rate of the construction industry. However, the industry is expected to recover in 2022 due to a rise in infrastructure investments and an increased focus on smart city projects.

Report ID: SQMIG45E2184 | Region: Global | Published Date: October, 2024
Pages: 157 | Tables: 90 | Figures: 76

Real Estate Software Market News

September 2022: HDFC Capital, a subsidiary of Housing Development Finance Corporation (HDFC) and Invest India, the investment promotion arm of the Indian government, jointly announced the launch of PropTech platform HDFC Real Estate Tech Innovators 2022. HDFC Capital's Affordable Real Estate and Technology (H@ART) platform launched under HDFC Fintech, will identify, identify and reward innovations in the retail tech, manufacturing tech, and sustainability tech industries.
July 2022: DMZ announced that it has partnered with Groundbreak Ventures to launch the operation of a unique proptech incubator, which enhanced the ability of startups to develop the real estate industry and build advanced businesses.
March 2022: LaSalle Investment Management (LaSalle) announced that RealBlocks selected to finance its $77 billion global real estate business. RealBlocks handle investor onboarding, KYC/AML, and e-signing of documents to create a seamless, digital experience for subscribing to all of LaSalle’s institutional funds.

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Real Estate Software Market size was valued at USD 11.4 Billion in 2023 and is poised to grow from USD 12.87 Billion in 2024 to USD 33.98 Billion by 2032, growing at a CAGR of 12.90% during the forecast period (2025-2032).

Strategic partnerships and collaborations between software providers, real estate agencies and technology companies are common in the market. This collaboration facilitates the integration of various technologies such as IoT, AI and blockchain on a comprehensive real estate platform. For example, collaboration between software companies and cloud service providers helps ensure their solutions are scalable and secure, which is attractive for large real estate projects that require robust infrastructure and to manage multiple assets. 'Altus Group Ltd. (Canada) ', 'Autodesk Inc. (US) ', 'CoStar Realty Information Inc. (US) ', 'Microsoft Corporation (US) ', 'MRI Software LLC (US) ', 'Oracle Corporation (US) ', 'SAP SE (Germany) ', 'SMR Group (UK) ', 'Trimble Inc. (US) ', 'Yardi Systems, Inc. (US) ', 'Procore Technologies, Inc. (US) ', 'AppFolio, Inc. (US) ', 'Zillow Group, Inc. (US) ', 'Rentlytics (US) ', 'Cresa (US) ', 'ResMan (US) ', 'Brokermint (US) ', 'RealEstateMall (US) ', 'VTS (US) ', 'TenantCloud (US) ', 'SpaceIQ (US)'

Increasing adoption of the digital tools in property management is driving the growth of the real estate software industry. Real estate stakeholders, including property owners and managers, are looking for new software solutions that provide automation, data analytics and seamless communication. This increased demand is driven by the need to improve efficiency in good manner, increases tenant satisfaction and improves the quality of the property. The use of AI and machine learning in the real estate software enables streamlined processes, predictive analytics and more informed decision-making, making the technology a must in a competitive market.

Integrating Artificial Intelligence and Automation: The fusion of AI and automation is rapidly changing the real estate software industry. Advanced AI algorithms are being incorporated into the software solutions to facilitate asset analysis, trend forecasting and customer interaction. Automation simplifies routine tasks such as lease renewal, maintenance scheduling and payment processing. This trend highlights the ongoing efforts of the market to adopt cutting-edge technologies to improve the service delivery and increase operational efficiency.

North America is dominating the real estate software market. An increase in the urbanization and infrastructure development activities and the adoption of new technologies for various commercial and residential applications are positively impacting the market growth in this region. The COVID-19 pandemic has significantly impacted consumer and business sentiments in the region, leading to the low growth rate of the construction industry. However, the industry is expected to recover in 2023 due to a rise in the infrastructure investments and an increased focus on smart city projects. U.S. and Canada leading the way, the region has a robust property market with a strong focus on efficiency, data-driven decision making and client management. Real estate companies in North America are implementing software solutions to streamline operations, improve client service and improve asset management, all of which contribute to the overall growth of the market.

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What is the global market size of Real Estate Software Market?

Who are the key vendors in the Real Estate Software Market?

What is the key driver of Real Estate Software Market?

What is the key market trend for Real Estate Software Market?

Which region accounted for the largest share in Real Estate Software Market?

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