Global Real Estate Software Market

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


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

Real Estate Software Market Insights

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).

The market grows slightly due to mass production disruptions around the world. But existing consumer data and records can be recovered after the pandemic to increased digitization, which helps consumers predict purchasing behaviors and customer behavior. Population growth and rapid urbanization for businesses sizes of large projects using intelligent solutions have increased in recent years. In addition, the adoption of new software technologies such as cloud and artificial intelligence in many applications in the real estate software industry is also driving growth. 

Real estate software helps in increasing the efficiency of the businesses as they work in various fields such as social media, online advertising, websites etc. Furthermore, products such as real estate are increasingly digitized and advancements in processing technologies have positively impacted the market in recent years. Additionally, the demand for better data governance practices and easier data protection is pushing companies to implement software solutions to increase customer retention. The leading vendors in the real estate software market are leveraging different technologies to offer products that are more suited to the needs of the customers. Virtualization and adoption of Virtual Reality (VR) is expected to enhance market growth while helping to save time and resources, expand scope to include remote customers, independent users enter and even, artificial intelligence (AI) and machine learning (ML) allow businesses to automate time-consuming tasks, resulting in better ROI.

US Real Estate Software Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Global Real Estate Software Market size was valued at USD 10.1 billion in 2022 and is poised to grow from USD 11.40 billion in 2023 to USD 30.10 billion by 2031, growing at a CAGR of 12.90% during the forecast period (2024-2031).

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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Global Real Estate Software Market

Report ID: SQMIG45E2184

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