글로벌 부동산 관리 시장 – 2023-2030

Overview
Global Property Management Market reached US$ 23.4 billion in 2022 and is expected to reach US$ 40.7 billion by 2030, growing with a CAGR of 7.5% during the forecast period 2023-2030.
Globally rapid growth in the commercial and industrial sectors helps to boost demand for the property management market. As property portfolios expand, the need for professional management increases. Global urbanization trends lead to a higher concentration of people in urban areas, driving demand for rental properties. Property management becomes essential for efficiently handling the complexities of managing numerous properties in densely populated areas.
Technological advancements in property management apps help to boost the market growth of the property management market. For instance, on December 06, 2021, JLL launched a new app that is beneficial for residential property management. It automates daily chores and streamlines some of the key concerns at residential societies such as visitor management, billing and payment, facility booking, etc. It helps to improve the overall experience for residents.
North America is a dominating region in the global property management market accounted 1/3rd of the market share. Major key players in North America launched innovative products that help boost the market growth of property management over the forecast period 2023-2030.
For instance, on June 13, 2023, MRI Software, a global leader in real estate solutions launched a flexible property portal to drive tenant engagement. It is designed to offer an intuitive, streamlined user experience, the solution facilitates interactions between property teams and occupants to provide easy access to billing, payments and online service requests, all from a single login.
Dynamics
Increasing Demand for Smart Building Projects
Smart buildings incorporate technologies such as the Internet of Things (IoT), sensors, automation and artificial intelligence. Property management companies that embrace and implement these technologies offer more sophisticated and efficient management solutions, attracting clients seeking modern and technologically advanced services. Smart building technologies streamline various processes, from energy management to security and maintenance. Property managers leverage these technologies to optimize operations, reduce costs and provide better services to property owners and tenants.
Major key players in the market are following merger and acquisition strategies to expand their business of smart buildings. For instance, on November 13, 2023, Samsung C&T and ABB completed an agreement to expand their smart building capabilities. The partnership explores joint innovation opportunities for commercial and residential property managers, particularly in automation, energy management and service systems. The deal signals an intention to integrate holistic building solutions, such as Samsung C&T’s Homeniq smart home platform, the ABB-free home system and the ABB i-bus KNX that can significantly widen potential home and building services under one property management tool.
Technological Advancement in the Property Management Software
Property management software automates routine tasks such as rent collection, lease renewals and maintenance requests. Automation reduces manual workload, minimizes errors and allows property managers to focus on strategic and high-value activities. Modern property management software provides a centralized platform for storing and managing property-related data. The streamlines operations, improves data accuracy and enhances collaboration among property management teams.
Technology facilitates seamless communication between property managers, tenants and property owners. Features like messaging, notifications and online portals improve transparency, responsiveness and overall communication efficiency. Property management software enables online rent payments, making the process convenient for tenants and streamlining the financial aspect of property management for owners. The also contributes to timely and secure transactions.
Growing product launches with technological advancement in software by the major key players help to boost the market growth of property management. For instance, on May 16, 2023, Jurny, Inc. a pioneering hospitality tech company powering operations for short-term rental (STR) properties launched an AI-enhanced property management system and tools powered by GPT-4. Nia is Jurny's advanced AI assistant built on GPT-4 that helps to automate tasks and enhance customer service while improving operational efficiency.
Financial Limitations Include a Broader Spectrum Of Risk
Property management often requires significant capital investment, especially for acquiring and maintaining properties. Financial limitations hinder companies from expanding their property portfolios, limiting growth opportunities. The property management industry is evolving with the integration of technology, including software for managing properties, data analytics and smart building solutions. Financial constraints impede the adoption of these technologies, putting companies at a competitive disadvantage.
Economic uncertainties and market fluctuations affect property values and rental incomes. Financial limitations make it challenging for property management firms to navigate and adapt to volatile market conditions, impacting their overall growth. Availability and cost of financing play a crucial role in property management. Limited access to loans or high-interest rates constrain the ability of companies to acquire new properties or invest in improvements, hindering overall growth.
Segment Analysis
The global property management market is segmented based on offering, deployment, application, end-user and region.
Growing Consumer Demand for Property Management Services
Based on the offering, the property management market is divided into solutions and services. The services segment is dominating the property management market due to the growing technological adoption in property management services. Property management involves various tasks, including rent collection, maintenance, tenant screening, lease management and compliance with regulations. As the complexity of managing properties increases, property owners often seek professional services to handle these responsibilities efficiently.
Property owners with multiple properties do not have the time or resources to handle daily property management tasks. Outsourcing these responsibilities to property management services allows owners to save time and focus on other aspects of their businesses. Professional property management services often have expertise and experience in handling diverse properties and navigating the complexities of the real estate market.
Due to the growing need for property management services major key players in the market launched new products. For instance, on February 09, 2023, Hines Interests Limited Partnership, a real estate company launched its property management services offering in France. The newly launched service provides active hands-on operational management and to further strengthen its ties with local communities. It also provides an enhanced customer experience focused on liberating occupiers from the inefficiencies of multiple service providers.
Geographical Penetration
Growing Adoption of the Property Management Solutions in North America
North America accounted for 1/3rd of the market share in the global property management market due to the rising demand of the property management market. North America, particularly U.S. and Canada well-established real estate market. The adoption of technology in several industries, including real estate and property management, helped to boost the market growth of property management. The region has embraced digital platforms, property management software and smart building technologies, contributing to operational efficiency and improved tenant experiences.
Growing product launches by the major key players in the region help to boost regional market growth over the forecast period. For instance, On July 05, 2023, ManageCasa, the leading intuitive, interactive and automated property management software for rental property managers and homeowner associations, announced a product launch of the largest software for property management in the market. The release builds upon the platform's already acclaimed UI/UX, with enhancements that position the company to capture a larger clientele and better serve larger clients in the Mid-Market and Enterprise segments.
Competitive Landscape
The major global players in the market include IBM, Accruent, AppFolio, Inc, Archidata Inc., Buildium, CIC PROPERTIES, Entrata, Inc., FSI ARCHITECTURE PC, Hemlane, Inc. and Indus Systems.
COVID-19 Impact Analysis
Many individuals and businesses faced financial hardships during lockdowns and economic slowdowns. The led to challenges in rent payments, impacting property owners and property management companies. Eviction moratoriums and rent relief programs were implemented in various regions to address these issues. The rise of remote work during the pandemic altered the demand for commercial office spaces. Property managers of commercial real estate had to adapt to changing tenant needs, with some businesses downsizing or adopting hybrid work models.
Vacancy rates and rental markets experienced fluctuations as individuals and families reassessed housing needs during the pandemic. Urban areas saw shifts in demand, with some people moving to suburban or rural areas for more space and lower costs. Property managers had to implement enhanced health and safety measures in residential and commercial properties. The included increased cleaning, touchless technologies and adjustments to common areas to comply with health guidelines.
Russia-Ukraine War Impact Analysis
A war or geopolitical conflict led to economic disruptions, affecting overall economic stability. Property management, like any other industry, could experience changes in demand, property values and investment patterns due to economic uncertainties. Geopolitical tensions contribute to market volatility, impacting real estate markets. Property values are influenced by investor sentiment, interest rates and economic outlook, which in turn, affect property management strategies and decision-making.
Wars in certain regions disrupt supply chains and impact the availability of construction materials, labor and other resources. The led to delays in property development, maintenance and renovations. Geopolitical events prompt changes in insurance policies and coverage, affecting property management practices. Property owners and managers might need to reassess insurance needs and ensure adequate coverage against potential risks arising from the conflict.
By Offering
• Solutions
o Lease Accounting & Real Estate Management
o Asset Maintenance Management
o Workspace & Relocation Management
o Reservation Management
• Services
o Deployment & Integration
o Consulting
o Support & Maintenance
o Service Level Agreement Management
By Deployment
• Cloud
• On-premise
By Application
• Construction & Real Estate
• Government
• Retail
• Hospitality
• Others
By End-User
• Property Managers
• Housing Associations
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• On July 05, 2023, ManageCasa, the leading intuitive, interactive and automated property management software for rental property managers, announced the launch of the largest software that is beneficial for the all-in-one rental and community association management platforms. It also helps to improve functionality for the company's existing base of SMB customers, with a polished UI/UX that paves the way for an array of experiential enhancements.
• On April 11, 2023, Inhabit launched ResidentIQ a first-of-its-kind ecosystem for residential property managers. The new solution provides technological innovation and best-in-class solutions while maintaining the efficiency of their existing core property management system. ResidentIQ brings offerings in the operations, resident engagement, insurance, payment and screening solutions within one simple relationship designed to pair with your existing PMS.
• On September 27, 2021, Infor, a cloud company announced the availability of Infor Hospitality Management Solution (HMS) version 3.8.4, the latest release of the fully cloud-enabled hotel management software in the Infor Hospitality suite of solutions. The newly launched solutions offer new options for optimizing and delivering personalized services.
Why Purchase the Report?
• To visualize the global property management market segmentation based on offering, deployment, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of property management market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global property management market report would provide approximately 69 tables, 67 figures and 209 pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies