August 31, 2022 13:42 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Aug. 31, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent analysis of the Global Property Management Market finds that the increased need for a SaaS model and growing trend of workplace mobility are anticipated to augment the growth of the Global Property Management Market during the forecast period.
The Global Property Management Market revenue is expected to reach a value USD 29.1 Billion in 2028.
The Global Market revenue was valued at USD 17.3 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period; states Vantage Market Research, in a report, titled "Property Management Market Size, Share & Trends Analysis Report by Component (Solution, Services), by Solution (Lease Accounting & Real Estate Management, Asset Maintenance Management, Workspace & Relocation Management, Reservation Management), by Service (Deployment & Integration, Consulting, Support & Maintenance, Service Level Agreement Management), by Deployment Mode (Cloud, On-Premises), by End Users (Property Managers, Housing Associations), by Application (Commercial, Residential), by Commercial Application (Construction & Real Estate, Government, Retail, Hospitality, Others (Education & Industrial), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Key Industry Findings & Insights from the report:
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Rising Need for SaaS Model of Property Management Market to Drive the Market Growth
The arrival of cloud technology is one of the critical breakthroughs in the software business. Cloud technology has dramatically affected how software applications are run and delivered to clients, enabling software developers to focus more on the technology part of software while outsourcing the management part to cloud service providers. Moreover, the SaaS software allows users to pay per usage and cancel services anytime. The SaaS software also allows the huge multifamily Property Management Market organizations to integrate numerous types of software across the portfolio without difficulty. Furthermore, SaaS platforms are letting property managers integrate their Property Management Market solutions with superior payment solutions for easy and seamless transactions and, as a result, propelling the market growth.
Increasing Development of Workplace Mobility to Stimulate Market Growth
Most of the population prefers to work from home rather than from a local office, head office, or worldwide branch of an organization and, as a result, need mobility with regards to access to office resources & data in the current condition. Furthermore, organizations are employing the current generation of youngsters who are technology-savvy and believe in the usage of multiple technological devices at their place of work. Also, to keep the flow and speed of work uninterrupted and manage such a workforce, many organizations are looking for solutions like workplace management, project management, and other integrated facility management. Furthermore, such solutions facilitate related property managers and real estate agents to keep track of all the properties they manage and the maintenance work necessary for them. Therefore, the rise in the trend of workplace mobility is expected to fuel the Property Management Market expansion.
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The report on Property Management Market highlights:
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North America Dominated the Global Property Management Market
North America dominated the Global Property Management Market in 2021 and is likely to continue the same trend during the forecast period. This is attributed to the presence of top market players in this region. Furthermore, the United States dominates the North America regional market in the current scenario because of the increased number of hotel spaces in the area. This, in turn, is expected to propel the Property Management Market expansion.
List of Prominent Players in Property Management Market:
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on "Property Management Market Size, Share & Trends Analysis Report by Component (Solution, Services), by Solution (Lease Accounting & Real Estate Management, Asset Maintenance Management, Workspace & Relocation Management, Reservation Management), by Service (Deployment & Integration, Consulting, Support & Maintenance, Service Level Agreement Management), by Deployment Mode (Cloud, On-Premises), by End Users (Property Managers, Housing Associations), by Application (Commercial, Residential), by Commercial Application (Construction & Real Estate, Government, Retail, Hospitality, Others (Education & Industrial)), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
April 2021: Tribe Property Technology Inc. acquired KEY Property Management Market 's leasing portfolio of approximately 75 service contracts, facilitating the company's development of its leasing services in British Columbia. In addition, Tribe simplifies the community living for homeowners with technology services, which bring convenience and security to assets. From rental market assessment to marketing, contracts, digital transparency and reporting, tenant verification, and online payment processing, Tribe offers a one-stop shop for housing management.
Key Questions Answered in The Report:
This market titled “Property Management Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
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