Dublin, July 17, 2023 (GLOBE NEWSWIRE) -- The "Real Estate Software Market Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
According to this latest market research report, the global real estate software market reached a value of $11.24 billion in 2023, showing a compound annual growth rate (CAGR) of 11.6%. Despite short-term economic setbacks caused by the Russia-Ukraine war, the market is projected to continue its growth trajectory, with a forecasted value of $16.41 billion by 2027, growing at a CAGR of 9.9%.
The global real estate software market is witnessing significant growth, driven by the increasing demand for automation and efficiency in real estate companies. Real estate software solutions and platforms help streamline administrative, marketing, and other crucial business tasks, enabling companies to manage operations, stakeholder relationships, financing, marketing, and more. This comprehensive suite of software products includes customer relationship management (CRM) software, content management software, financial management software, and real estate contract software, among others.
The adoption of artificial intelligence (AI) and machine learning (ML) is a prominent trend in the real estate software market. AI-powered applications assist real estate companies in various functions, including marketing campaigns, property portfolio management, leasing, accounting, and operations. Virtual tours, made possible by AI and ML, provide customers with interactive 3D views of properties, even for those still under construction or located abroad. Notably, Zillow Group, an online real estate marketplace, launched a virtual tour experience utilizing machine learning and media content to create an immersive floor plan for remote buyers.
Key industry players are actively participating in mergers and acquisitions to enhance their real estate software offerings. In January 2022, Planon, a leading real estate and facility management software company, acquired COOR GmbH, an Austrian-based software solutions provider for real estate owners and builders. This strategic acquisition enables Planon to develop superior software for planning, controlling, and forecasting costs and revenues, catering to a wider range of customer needs.
North America emerged as the largest region in the real estate software market in 2022. However, the market analysis covers various regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Furthermore, the report encompasses key countries such as Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, offering comprehensive insights into regional and global market dynamics.
The real estate software market presents ample opportunities for growth, driven by the surge in commercial and residential real estate activities. Leading real estate companies are increasingly adopting software solutions to streamline operations, reduce errors, improve task allocation for large-scale projects, enhance communication, and optimize financial management. The Global Construction 2030 report projects an 85% growth in construction output, reaching $15.5 trillion by 2030, primarily driven by China, India, and the United States. The rising demand for high-end apartments, houses, and skyscrapers in developing countries bolsters the growth of the real estate software market.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Scope
Markets Covered:
1) By Product: Enterprise Resource Planning (ERP); Property Management System (PMS); Customer Relationship Management (CRM)
2) By Deployment Type: Cloud; On-Premise
3) By Application: Commercial; Residential
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $11.24 billion |
| Forecasted Market Value (USD) by 2027 | $16.41 billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
Real Estate Software Market Characteristics
Real Estate Software Market Trends And Strategies
Real Estate Software Market - Macro Economic Scenario
Real Estate Software Market Size And Growth
Real Estate Software Market Segmentation
- Global Real Estate Software Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Enterprise Resource Planning (ERP)
- Property Management System (PMS)
- Customer Relationship Management (CRM)
- Global Real Estate Software Market, Segmentation By Deployment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Cloud
- On-Premise
- Global Real Estate Software Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Residential
Real Estate Software Market Regional And Country Analysis
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- Asia-Pacific Real Estate Software Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Asia-Pacific Real Estate Software Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Real Estate Software Market Competitive Landscape And Company Profiles
- Real Estate Software Market Competitive Landscape
- Real Estate Software Market Company Profiles
Key Mergers And Acquisitions In The Real Estate Software Market
Real Estate Software Market Future Outlook and Potential Analysis
Appendix
A selection of Companies Mentioned in this report includes
- Altus Group Ltd.
- AppFolio Inc.
- Autodesk Inc.
- CoStar Group Inc.
- Fiserv Inc.
- International Business Machines Corp.
- Oracle Corp.
- SAP SE
- Yardi Systems Inc.
- MRI Software
- Microsoft Corporation
- RealPage Inc.
- Trimble Inc.
- LanTrax Inc.
- Propertybase
- Argus Financial Software
- SMR Group
- Fiserv Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hfyz8j
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
