$10+ Billion Worldwide Real Estate Software Industry to 2031 - Rising Commercial and Residential Real Estate Activities Expected to Propel Growth - ResearchAndMarkets.com
By Business Wire
DUBLIN--(BUSINESS WIRE)--The "Real Estate Software Market Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This provides strategists, marketers and senior management with the critical information they need to assess the global real estate software market market.
The global real estate software market is expected to grow from $9.12 billion in 2021 to $10.06 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The real estate software market is expected to grow to $14.61 billion in 2026 at a CAGR of 9.8%.
- 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.
- Argus Financial Software
- SMR Group
- Fiserv Inc.
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Some of the major players in the real estate software market are 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 (US), Microsoft Corporation, RealPage Inc., Trimble Inc., LanTrax Inc., Propertybase, Argus Financial Software, SMR Group, and Fiserv Inc.
The real estate software market consists of sales of real estate software by entities (organizations, sole traders, and partnerships) that are used for automating administrative, marketing, and other business tasks in real estate companies. Real estate software helps companies manage various functions such as operations, planning, stakeholder management, financing, marketing, and many others.
The main types of products of real estate software are customer relationship management software, content management software, financial management software, real estate contract software, and others. The customer relationship management (CRM) real estate software manages the relationship between buyers, sellers, agents, brokers, developers, and financial institutions.
The different components include solutions, and services and involve various organization sizes such as large enterprises, small scale and medium-sized enterprises. It is deployed on-premise and by cloud and is used in commercial and residential.
North America was the largest region in the real estate software market in 2021. The regions covered in the real estate software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The rise in commercial and residential real estate activities is expected to propel the growth of the real estate software market going forward. Many leading real estate companies are adopting software solutions for operations to reduce interruptions in services, decrease human errors, allot tasks efficiently for big volume projects, reduce communication gaps, and also manage finances.
For instance, according to the Global Construction 2030 report, the volume of construction output is expected to grow by 85% to $15.5 trillion by 2030. Major countries contributing to this growth are China, India, and the USA. Therefore, the rising high-end apartments, houses, and skyscrapers in developing countries are driving the growth of the real estate software market.
The adoption of artificial intelligence and machine learning is a rising trend in the real estate software market. Artificial intelligence (AI) enabled applications to help real estate companies in marketing campaigns, managing property portfolios, leasing, accounting, operations, and many other functions.
One of the recent developments of AI in the real estate market is virtual tours. Virtual tours are provided for properties that are still under construction, or for customers abroad, where the customer can see the 3D view of the property.
In January 2022, Planon, a US-based real estate and facility management software company, acquired COOR GmbH for an undisclosed amount. This acquisition will help Planon build better real estate software for planning, controlling, and forecasting costs and revenues for all customers. COOR GmbH is an Austria-based company that develops and implements software solutions for real estate owners and builders.
The countries covered in the real estate software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
For more information about this report visit https://www.researchandmarkets.com/r/pnvt2h
Laura Wood, Senior Press Manager
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First published on Thu, Dec 22, 2022
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