Dallas, Texas, Oct. 10, 2022 (GLOBE NEWSWIRE) — The expansion of digitalization, especially in developing economies, the growing adoption of property management software by small and medium-sized businesses, and the proliferation of smartphones are Key factors propelling the global property management software market. One of the main reasons planned to propel the property management software market expansion is the growing inclination of property owners and managers for scalability. Additionally, factors such as escalating infrastructure construction and increasing requirement to maintain property-related records for smooth functioning are expected to fuel the expansion of the market. The need for property management software (PMS) for hotels and apartment buildings has increased over the past few years. The availability of Internet bandwidth and virtual storage are just two of many variables that affect demand in the hospitality and residential sectors.

Property management software is technology designed to make it easier for property managers to manage residential and commercial properties. Likewise, for compliance reasons, property management software helps maintain a transparent digital paper trail.

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Property managers, owners and operators increasingly need property management software because it allows them to manage their assets more easily and efficiently. In an increasingly competitive and constantly changing market, this helps to further regulate the real estate portfolio. Real estate investors, residential and commercial property dealers, and other end users frequently use this software. The global property management software market size was estimated at USD 14.49 billion in 2021 and is projected to grow 8.9% CAGR to reach USD 30.97 billion by 2030.

Mid-size businesses can benefit from the enhanced management tools offered by property management software. One of the many benefits of using this software is that these organizations can more effectively manage their entire business process across departmental boundaries with these solutions. The ability to customize their software to the unique requirements of a specific vertical industry is another advantage midsize companies have over small and medium-sized enterprises (SMBs), which frequently choose general-purpose SaaS solutions.

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Key players in the global property management software market

• Increasing
• Argus financial software
• MRI software
• actual page
• Yardi Systems
• AMSI property management
• CoStar Realty Information Inc.
• Propertybase GmbH
• Microsoft Corporation
• Trimble Inc.
• CDK Global LLC
• Bentley Systems Inc.
• Oracle Corp.
• SAP America, Inc.
• IFCA MSC Berhad
• Kingdee International Software Group Company Limited
• Yonyou Network Co., Ltd.
• LanTrax Inc.
• 4qt.com
• IBM Tririga
• Sage Software Holdings, Inc.
• Constellation Software Inc.

Type Analysis of Property Management Software Market:

Property management software end-user applications include:

• Small enterprises
• Medium Enterprises
• Large companies

In 2021, North America was the dominant market region. Property managers and others in the real estate industry may have the opportunity to invest in asset management software or services thanks to the rise of e-commerce in North America. The real estate market in the region will undoubtedly see an increase in outside investment. Real estate wealth managers can use international real estate funds to diversify due to the variety of investment options and economic situations. The demographic and economic growth of the region is dominated by the metropolitan centers. Urban real estate markets are the most profitable and full of opportunities. The profitability of real estate is linked to GDP growth and population displacement.

• Entrata, Inc. and AMLI Residential worked together in July 2020. All of Entrata’s initial rental, accounting, payment and communication tasks will be enabled and managed through its integrated, all-inclusive platform.

• Alexa integration for residential properties was announced by Entrata Inc. in April 2021. Alexa-enabled devices can be managed or configured in each unit through this interface, enabling voice control of smart homes.

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