Real Estate Software Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global real estate software market was evaluated at USD 10.1 billion in 2022, and it is expected to grow at a CAGR of 12.4% during the forecast period. Increasing digitization of existing customer data and records, which helps clients predict purchasing behavior and customer trends, is driving the growth of the market. Rapid urbanization and industrialization are driving the growth of the market significantly. COVID-19 brought a slowdown in the market, but post-pandemic, smart solutions and the adoption of new software technologies like artificial intelligence and cloud computing across several applications have driven the growth of the market significantly. In the modern era, the real estate industry is on the rise.

Impact of Covid-19

Covid-19 pandemic significantly impacted the real estate software market. Initially there was a slow-down in the industry due to restrictions on movement, construction halts, and economic uncertainties. It also accelerated the real estate software solution, as the industry sought digital tools to navigate challenges. Pandemic resulted into the shift toward virtual solutions.

Shift to virtual solutions

The pandemic forced a shift towards virtual property viewings, digital transactions, and remote collaboration tools. Real Estate software offering virtual tours, online leasing, and property management gained traction. Covid-19 brought a significant shift in real estate market.

Increased demand for Remote Capabilities

There was a surge in demand for remote work solutions, impacting property management software. Land lords, and property managers. Population growth, and rapid urbanization is leading this market towards significant growth. Land lords, and property managers sought tools enabling remote monitoring, maintenance, tracking, and tenant communication.

Data Analytic and Predictive Tools

Real estate analytics and predictive software became more crucial as market dynamics rapidly changed. These tools help predicting market trends, evaluating risks, and making informed investment decisions. Additionally, the pandemic accelerated the adoption of technology in real  estate transactions, emphasizing the need for solutions that streamline processes, and enable remote work.

Growth Drivers

Several factors drive the growth in the real estate software market.

·         Population Growth

·         Rapid Urbanization

·         Economic Trends

·         Interest Rates

·         Government Policies

·         Technological Advancements

With a rapidly growing population, there is an increased need for housing and society. Increasing population and rapid urbanization are driving the growth of the market significantly. Economic stability and growth often correlate with increased real estate investments. A lower interest rate also stimulates demand for mortgages and investment in properties. Technological advancements, including innovations in real estate technology, enhance efficiency and attract buyers and investors. Rapidly increasing population, globalization, and industrialization worldwide are growing the real estate industry.

Increasing demand for automation and efficiency is driving the growth of the real estate software market significantly. The adoption of artificial intelligence and machine learning is a prominent trend in the real estate software market. AI-powered applications assist real estate companies in various functions, including market campaigns and property portfolio management. Zillow Group has launched a virtual tour experience utilizing machine learning and media content to create immersive floor plans for remote buyers. Leading real estate companies are increasingly adopting software solutions to streamline operations, reduce errors, and improve task allocation for large-scale projects.

Segmentation

By Product

·         Enterprise Resource Planning

·         Property Management Systems

·         Customer Relationship Management

By Deployment Type

·         Cloud

·         On-Premise

By Application

·         Commercial

·         Residential

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Real Estate Software Market By Product Segmentation

On the basis of product, the real estate market is segmented into Enterprise Resource Planning, Property Management Systems, and Customer Relationship Management. The customer relationship management software is leading the market. It also helps improving productivity and efficiency by speeding up routine processes and keeping customers and clients up to date about recent updates. Additionally the rising demand for CRM by the organizations for safety, and security of sensitive data is driving the growth of the market. The adoption of digital technologies is driving the growth of the market significantly.

Real Estate Market By Deployment Type Segmentation

On the basis of deployment type, the real estate software market is segmented into cloud, and on-premise segment. The cloud segment accounted for the largest share in the market. Cloud based software provides faster and most accurate data access to real estate companies, thus increasing their work-flow productivity, The significant growth in construction activities is expected to drive the usage of cloud technologies, to better manage businesses, and help improving productivity.

Real Estate Market by Application Segmentation

On the basis of application type, The Real estate market is segmented into commercial, and residential. The Residential segment is expected to grow fastly during the forecast period.

Regional Outlook

On the basis of regions, the real estate software market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America is the key player due to the dominating presence of the United States of America, and factors like technological adoption, rates, regulatory environments, and market maturity are leading the market in the region. Asia Pacific is expected to lead the market significantly during the forecast period. The Asia-Pacific region is not far behind due to rapid urbanization and population growth. Countries like China and India are the big markets in the real estate industry. Growth in Asia Pacific region is attributed to the favorable development of regional economies, and promising expansion in the construction industry. Due to the rapid growth of Real estate sector in India, China, and Singapore, Japan, and South East Asian Countries, the market is growing rapidly in the world.  Real estate software helps to increase the productivity of the business as they work in various areas, such as social media, online advertising, and websites, leading to a higher demand for efficient software tools. Infrastructure development activities all around the world are leading the real estate market towards a new height.

Key Players

·         Atlus group ltd.

·         RealPage Inc.

·         Oracle Corporation

·         SAP SE

·         SMR Group

·         Trimble INC.

·         MRI Software LLC

·         Costar Realty Information INC

·         Accruent

·         Microsoft Corporation

·         Apple

·         IBM

·         Other Players

Global Real Estate Software Market research report presents a strategic analysis of the global Real Estate Software Market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it.

This report delivers market size, regional and country market data, segmentation growth, market share, competitive landscape, company’s Real Estate Software revenue analysis, strategies of domestic and global market players, opportunities analysis, strategic market growth analysis, and technological innovations. It analyses historical and current market data to accurately gauge its future growth potential. This market report provides in-depth analysis and insight of market drivers, challenges, trends & opportunities. At the same time, comprehensive coverage of major vendors (recent product development & industrial activities, company overview, insights on business strategy & financial performance, company SWOT analysis) is provided to give competitive overview. This study presents most detailed (COVID-19 updated) and in-depth analysis about the global Real Estate Software market, covering all global regions and countries. The report provides intricate dynamics for each of the countries covered, offering unmatched value, accuracy and expert insights.

Report Purpose

The purpose of the report is to portray the state of the global Real Estate Software Market and to present real and expert-verified data and insights about the market values, volumes, dynamics, segmentation and prices. It also offers forecast for the market development in the short and medium term and the impact COVID-19 has and will have on it. Further, it covers in-depth analysis of the key market players, industry trends and insights, growth drivers and challenges and all other factors, influencing the growth of market.

Scope of the Report

The report on the global Real Estate Software Market presents:

·         Historical Data: Market data including volume, growth rate, value, and dynamics; Market segmentation (by product, by region and by country; etc.) for the last five years;

·         Strategic Insights for companies looking to launch new products to diversify their business, exploring leading countries to establish supply chain, and top countries to increase company export and go global

·         Comprehensive Regional Market Data: volume, growth rate, value, market share and dynamics of for the last five years (broken down by region);

·         Market Dynamics: Analysis of the factors impacting the market including demand drivers, industry trends and challenges and the short and the medium-term impact of COVID-19 presently and in near future;

·         Analysis and forecast for the global economy and demographics;

·         Supply chain and value chain analysis, risk analysis of supply side and demand side;

·         Market Forecast for next ten years (market share, year-on-year growth, volume, value and segmentation by region);

·         Company profiling of key market players covering company’s Real Estate Software revenue, sales and market share;

·         Comprehensive coverage of competitive landscape offering market positioning and snapshot of key business strategies;

·         Porter’s Five Forces analysis;

How Can You Benefit from This Report?

In this report you can:

·         Track and identify key market trends and insights and key drivers behind recent market changes and see the impact COVID-19 has and will have on the market in both the short and the medium term;

·         Get access to reliable and verified market data, with which aids you to make confident business decisions;

·         Analysis of market numbers, such as volume, value, forecasts, dynamics, segmentation and market structure – past, present and future;

·         Gain competitive intelligence about the market at low cost as compared to other reports;

·         Understand growth potential countries and regions, opportunities, growth drivers and barriers on the market;

·         Own data spreadsheet for comparison at global, regional and for individual country, covered in the report;

·         Analyse countries with highest and lowest demand for Real Estate Software and countries in each region which will grow at highest growth in next five years.

·         Strategically plan business strategy based on verified market data and expert insights;

·         Identify revenue generation opportunities in the countries and regions within the market;

·         Get market trend data of last 10 years and how market growth will unfold in next ten years;

·         Market share analysis and positioning of leading market players;

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·         Extensive analysis of all required market data in one place;

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What Kind of Decisions You Can Make Based on the Data in This Report?

This report detailed and all-inclusive data on Real Estate Software Market, providing valuable support to make vital decisions regarding:

·         Strategic planning;

·         Industry analysis;

·         Target Market/Marketing and sales;

·         Regional and country assessment and opportunity analysis;

·         Market entry into new product group or country;

·         Pricing of existing and new products;

·         New product development and Innovation in existing products;

·         Supply chain management;

·         Market evaluation;

·         Mergers, Expansions, Joint Ventures and acquisitions.

Who Is This Report for?

This report is intended to give broad overview of market to people who already are working on this market:

·         C-suite Level executives;

·         Directors;

·         Industry strategists;

·         Marketing professionals;

·         Business development professionals;

·         Product developers;

·         Product marketers and strategists;

·         Product managers;

·         Project managers;

·         Suppliers;

·         Traders;

This report also caters to people who are not involved in the market, representatives of investors, consultants, advisors and financial institutions:

·         Management consultants;

·         Investment managers;

·         Financial professionals;

·         M&A managers.

Regional Coverage

The report on the global Real Estate Software Market breaks down the world into the following regions & countries and covers every single one of them:

Report Customization

If the report as is does not serve your market research needs, get it customized at free of cost, as per your own specific requirements. Feel free to contact us for more information!