不動産管理 (PM) ソフトウェアの世界市場：用途別・展開方式別・エンドユーザー別・地域別の展望、新型コロナウイルス感染症 (COVID-19) の影響の分析、将来予測 (2021年～2027年)
Global Property Management Software Market By Application, By Deployment Type, By End User, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
|不動産管理 (PM) ソフトウェアの世界市場：用途別・展開方式別・エンドユーザー別・地域別の展望、新型コロナウイルス感染症 (COVID-19) の影響の分析、将来予測 (2021年～2027年)|
発行: KBV Research
ページ情報: 英文 279 Pages
世界の不動産管理 (PM) ソフトウェアの市場規模は、予測期間中に5.4%のCAGRで上昇し、2027年には41億米ドルに達すると予想されています。市場の主な促進要因として、不動産投資の急拡大やクラウドベース・ソフトウェアへの統合の動き、また効率改善やエラー防止といった効果などが挙げられます。他方、トレーニングに要する時間・費用が市場成長の妨げとなる可能性もあります。
用途別に見ると、住宅向け市場が最大のシェアを占める一方、商業施設 (店舗・オフィス・ホテルほか) 向け需要も今後大きく成長すると見込まれています。展開方式別ではオンプレミス方式が多く成長する見通しです。エンドユーザー別では住宅組合向け需要が最大のシェアを占めています。地域別に見ると、北米諸国が最大の市場となっています。
当レポートでは、世界の不動産管理 (PM) ソフトウェアの市場について分析し、システムの概要や市場の主な傾向、市場規模の動向見通し、用途別・展開方式別・エンドユーザー別および地域別の詳細動向、主な市場促進・抑制要因、市場競争環境、主要企業のプロファイル、昨今の資本取引・事業戦略の展開状況、といった情報を取りまとめてお届けいたします。
List of Figures
The Global Property Management Software Market size is expected to reach $4.1 billion by 2027, rising at a market growth of 5.4% CAGR during the forecast period. The property management software solutions have shifted from manual to automatic management solutions, in the past few years. The property management software system has been enhanced by the automatic property management solution which led to the decrease in human errors and empowering the property managers assign work assignments efficiently to eliminate interruptions in service. The advantage of an automatic PMS is that it reduces the time taken in responding to complaints and grievances of owners & tenants. Moreover, it makes property management procedures simpler by reducing communication gaps, storing & leasing documents and contracts, simplifying the rent collection processes, and tracking finances.
The market is estimated to witness an increase in the demand for Property Management Software (PMS) due to the rising demand for web-based services comprising Software as a Service (SaaS) by property management software providers. SaaS enabled PMS assists in the management of daily functions like building maintenance, accounting, and tenant & lease tracking. The software offers a centralized platform where a person can see all the properties altogether and also allows supervision of the other property-related functions like addressing the requirements of tenants and maintenance tasks. It also provides the facility of online document sharing & storage, financial reporting, account capabilities, integrated banking among other applications, electronic lease agreements, and online maintenance requests & tracking.
Due to the COVID-19 outbreak, there has been a major disturbance in most companies across the world. Whereas some industries experienced a reduction in their businesses and productions, while others faced harsh outcomes like movement restrictions and shutdown of businesses. Also, the real estate industry experienced both a rise and fall at once. In the early stages of the pandemic, the main concern of the real estate property owners, managers, and companies was to keep visitors and tenants safe and strictly following the government rules and regulations.
Therefore, these factors are responsible for the decline in real estate property sales. Still, various schools, colleges, and offices were remained closed and businesses have been adopting the worldwide famous trend of work from home. In contrast, property managers got an opportunity to propose and use automation tools like smart and AI-enabled property management software. The function of an AI-enabled tool is to collect the data through Wi-Fi and automatically respond to leads. This will help in enhancing customer service and lowering the operational risks.
Market Growth Factors:
Surging investments in real estate
The key factor that increased the investments in commercial real estate is the growth of the construction activities in this sector around the world. Several factors like capital flow, the evolution of talent, PropTech platforms, cyber risk management, and the influence of technology are projected to bolster the investments in commercial real estate. The main factor that boosts the real estate investment is efficient management of the property by a centralized administration, even from a remote location.
Integration of cloud-based technologies in property management
Cloud-based property management software focuses on the installation of actuators and sensors in the infrastructure facilities of luxury hotels. As the property management business grows with new services, the cloud helps in handling the bandwidth, extra storage, and computing demands. The software also helps the system to take care of the updates to operating systems and other software; hence, it will also reduce the wastage of time.
Market Restraining Factor:
Increase in cost and time for training
Some of the software is appropriate for small businesses whereas some are suitable for large businesses. A lot of time is required to learn the use of this software. In addition, the integration of this software consumes a lot of time because firstly, the time is spent on choosing ideal software, and secondly, the time is spent on learning it. Every kind of software has its features and learning various software will be a difficult task.
Based on Application, the market is segmented into Residential and Commercial. The commercial Segment is further bifurcated across Retail Spaces, Office Spaces, Hotels and Others. The residential segment registered the largest revenue share in 2020 and will significantly expand during the forecast period. The propelling investment rate in real estate is boosting the growth of the segment. Single-family housing, multi-family housing, or apartments are sub-segments of the residential segment. The commercial segment is anticipated to witness substantial growth rate during the forecast period.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into Cloud and On-premise. The on-premise deployment segment is anticipated to witness lucrative growth rate during the forecast period. Benefits like high-level data security than cloud-based property management software and control & ownership over hardware, are responsible for the augmentation of the segment. In addition, on-premise PMS can be personalized as per the user or business requirements. Thus, this segment is expected to witness a boost due to the above-mentioned benefits during the forecast period.
End User Outlook
Based on End User, the market is segmented into Property Managers/ Agents, Housing Associations, Property Investors and Others. The housing association segment obtained a significant revenue share in 2020 and is anticipated to continue this progress during the forecast period. Leasing agreements, racking tenants, and receiving payments are some of the challenges faced by townships and apartments due to which this segment is witnessing a sluggish growth. To overcome these challenges, the market players are proposing several solutions like inspections, tracking payments, transparent & comprehensive reporting, and maintenance.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region in the global property management software market in 2020. The presence of well-known players like Yardi Systems Incorporation, Entrata Incorporation, MRI Software LLC, AppFolio Incorporation is responsible for the growth of this reason. According to the present scenario, U.S. is dominating the regional market due to the rise in the number of hotel spaces in the nation.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation, SAP SE, and IBM Corporation are the forerunners in the Property Management Software Market. Companies such as MRI Software LLC, RealPage, Inc., and Yardi Systems, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Oracle Corporation, IBM Corporation, InnQuest Software, IQware, Inc., MRI Software LLC, RealPage, Inc., Yardi Systems, Inc., Jones Lang LaSalle IP, Inc., and HiRum Software solutions.
Recent strategies deployed in Property Management Software Market
Partnerships, Collaborations, and Agreements:
Jun-2021: MRI Software extended its partnership with LeaseLock, the world's leading insurtech platform for enterprise real estate. This expanded partnership focused on enabling MRI customers to remove conventional deposits and deposit substitutes, which provide insufficient coverage without increasing the burden on residents with outdated, off-system processes.
Jun-021: RealPage came into partnership with Airbnb, an online community marketplace for people to list, discover, and book accommodations. In this partnership, the companies would introduce its apartment home-sharing solution Migo, which would make it convenient for residents and apartment owners to share their space on Airbnb and advantage from home-sharing.
Jun-2021: Yardi joined hands with Cushman & Wakefield Echinox, a leading real estate company in the Romanian market. Under this collaboration, Cushman & Wakefield Echinox chosen Yardi as its technology partner for the management of commercial real estate assets in Romania. The platform would offer a complete range of services to owners, developers, investors, and tenants. In addition, Cushman & Wakefield Echinox has implemented Yardi Voyager Commercial to simplify its property and financial management operations.
May-2021: IQware collaborated with PointCentral, a provider of home automation solutions. This collaboration aimed to enable property managers to provide a best-class smart home experience with contactless check-in for guests. By providing integration with the PointCentral portfolio of product offerings, IQware would better position itself to assist its customers to simplify their procedures and optimize efficiencies.
May-2021: RealPage entered into a partnership with the National Apartment Association Education Institute (NAAEI). This partnership focused on offering customers of the RealPage Learning Management System, EasyLMS, gets access to free NAA-approved courseware for industry credential renewals, and also combined reporting to simply maintain employee NAA credential status. The latest service offers cost savings and makes operational enhancements at the property level, which positively impact efficiency and profitability at Property Management Companies.
May-2021: Oracle collaborated with Wyndham Hotels & Resorts, the world's largest hotel franchising company. In this collaboration, Wyndham Hotels & Resorts introduced the next-generation Oracle Hospitality OPERA Cloud Property Management (PMS) to its full-service hotels. This system enables hotel owners in providing an improved guest experience via a host of operational improvements and efficiencies, which reduces the total costs by removing the requirement for costly and difficult-to-maintain on-site hardware.
Mar-2021: JLL partnered with Roofstock, an innovative proptech and leading online marketplace in the dynamic single-family rental (SFR) sector. Following this partnership, JLL broadened its services portfolio in the residential sector. Also, JLL announced a minority investment in Roofstock.
Oct-2020: Arcadia Management Group has expanded the utilization of the Yardi Investment Manager platform for growing its service offering, which will help the company in becoming a one-stop solution for property management and property solutions. Through the Investment Manager, Arcadia would continue to improve its efficiency by leveraging industry-leading technology.
Oct-2020: SAP collaborated with Wipro, an Indian multinational corporation that provides information technology, consulting, and business process services. Under this collaboration, Wipro introduced the Tenant Acquisition Management (TAM) solution for the real estate sector. This solution consists of intelligent technologies such as artificial intelligence, robotic process automation, and machine learning, TAM helps in faster deal conversion regarding tenant leasing by offering an effortless real-time and constant experience for leasing agents to carry out Lead to Lease activities.
Jul-2020: IBM Services extended its partnership with CBRE, the largest commercial real estate services company. This expansion aimed to offer technical support services for CBRE's customers at select data center facilities it operates.
Jun-2020: SAP SE joined hands with Honeywell, an American publicly traded, multinational conglomerate. This collaboration aimed to develop a joint cloud-based solution based on Honeywell Forge and SAP Cloud Platform that would simplify and integrate operational and business data to help in better decision-making and boost efficiencies. This solution would help customers to advantage from building performance optimization that includes minimum carbon footprint and reduced energy costs, and better tenant experience.
Acquisition and Mergers:
Jul-2021: MRI Software acquired Findspace, an intuitive marketing and leasing platform for commercial real estate. This acquisition aimed to substantially improve its lead-to-lease solution for commercial property managers.
Jun-2021: Yardi acquired We Are Forge Ltd, a Bristol, UK-based software company. This acquisition aimed to make sure that Forge Bluepoint is the leading visitor management solution across all the dealing sectors.
Apr-2021: MRI Software completed the acquisition of Manhattan, the real estate and workplace solutions business of Trimble. The acquisition aimed to expand MRI's workplace management portfolio with strong space scheduling, booking, and facilities management offerings, supporting its exclusive lease accounting and administration solutions for commercial real estate operators, owners, and occupiers across the globe.
Mar-2021: MRI Software acquired Palace, a provider of residential property management solutions. Through this acquisition, MRI aimed to expand its offering and market presence in New Zealand and also providing Palace and its customer's access to the innovation, scale, and partnerships of a key industry leader.
Dec-2020: Yardi took over the CommissionTrac, a software company engaged in delivering revenue management software. Following the acquisiton, both the companies would work for adding values to the commercial real estate sector.
Nov-2020: Oracle signed an agreement to acquire Nor1, a provider of data-driven upsell technology solutions. This acquisition expands Oracle Hospitality's OPERA Cloud Suite by introducing Nor1's Merchandising platform, which allows hotels to offer customized offers across the guest journey utilizing AI & machine learning, thus enhancing guest engagement, and improving incremental revenue, and increased loyalty for hotels.
Oct-2020: MRI Software took over Jenark, residential property management software from CoreLogic. Through this acquisition, MRI intended to expand and bring the advantages of its scale and innovation to the Jenark customers.
Sep-2020: MRI Software signed an agreement to acquire Priority Technology Holdings. In this agreement, MRI would acquire Priority's RentPayment business that includes StorageRentPayment.com, RentPayment.com, and DuesPayment.com real estate payment brands. Through this acquisition, Priority would offer ongoing payment infrastructure as a service and processing to the latest platform at MRI.
Aug-2020: MRI Software took over Housing Partners, a specialist technology provider for the social housing sector in the UK and Ireland. This acquisition aimed at strengthening MRI's portfolio of residential property management technology options, MRI Living, expanding offerings from Housing Partners' Streetwise, Housing Jigsaw, TAIM, and HomeSwapper product brands.
Jan-2020: Yardi acquired RightSource Compliance, a Minneapolis-based software consultant and developer. This acquisition aimed to integrate both companies' services and technology, to deliver site staff the tools and outsourced compliance services that are required to complete paperwork efficiently and precisely that enable families to shift in faster and decrease the risks of compliance errors like late recertifications.
Product Launches and Product Expansions:
Jul-2021: InnQuest Software introduced roomMaster Anywhere, its simple and easy to use Cloud PMS in North America. This product is an easy-to-utilize, next-gen Cloud PMS, comprehensive with an instinctive online booking engine and channel management.
Jul-2021: Yardi unveiled a new product suite, Yardi Corom, customized for commercial tenants. This solution would offer a single platform solution for occupancy tracking, lease management, and desk hoteling for flexible workplaces. Additionally, it would also provide management for facility maintenance, transactions, and capital projects.
Jun-2021: InnQuest Software unveiled QuickInn, its latest full-featured hotel app. This app offers contactless solutions for mobile check-in/check-out, guest messaging, keyless entry, mobile bookings, and many more.
Feb-2021: Yardi launched Rent Relief, a powerful all-in-one platform, which helps in getting payments to households & landlords rapidly and easily. This platform is developed to help governments in managing the distribution process of federal emergency rental assistance.
Sep-2020: RealPage unveiled the RealPage Waste Management Solution, an AI-based solution. This solution allows property management companies to decrease waste-related expenses and also accelerating net operating income (NOI) and sustainability easily.
Sep-2020: RealPage introduced CommunityConnect, an integrated, managed service. This service would rapidly boost the implementation of smart access, smart apartment devices, and community-wide ultra-high-speed Wi-Fi connections in the multifamily sector.
Jul-2020: RealPage launched Online Vendor Payments, which automate the whole vendor payment procedure from procurement to purchase order, invoice processing, and payment. This solution is a part of the RealPage Accounting and Financial portfolio that allows property management organizations to easily decrease expenses and eradicate 100% of paper checks and other manual procedures, which can lead to errors and delay the procurement lifecycle. In addition, it also helps in minimizing risk and increasing ROI, along with offering complete visibility into payments status in real-time.
Jan-2020: JLL unveiled its first property management mobile application Overview by JLL for residential societies. This app automates daily chores and simplifies the core concerns at residential societies like billing and payment, visitor management, and facility booking, etc., which would boost the overall experience for residents staying at a property managed by JLL.
Jan-2020: IBM expanded its TRIRIGA solution by introducing artificial intelligence (AI) in it. This improved solution would assist real estate & facility management professionals to better use their office space and provide a more engaging workplace experience.
Market Segments covered in the Report:
By Deployment Type
By End User
Unique Offerings from KBV Research