The global Real Estate Software market size is expected to be worth around US$ 20.66 billion by 2030, according to a new report by Vision Research Reports.
The global Real Estate Software market size was valued at US$ 10.34 billion in 2020 and is anticipated to grow at a CAGR of 10.7% during forecast period 2022 to 2030.
|Market Size||US$ 5.69 billion by 2030|
|Growth Rate||CAGR of 12.3% From 2022 to 2030|
|Largest Market||North America|
|Forecast Period||2022 to 2030|
|Segments Covered||Type, Deployment, End-use, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Altus Group Ltd.; Autodesk Inc.; CoStar Realty Information Inc.; Microsoft Corporation; MRI Software LLC; Oracle Corporation; RealPage Inc.; SAP SE; Trimble Inc.; Yardi Systems Inc.|
Factors such as a rise in commercial and residential real estate activities, rising urbanization, and the adoption of new software tools for reducing manual errors are driving the market. Technological advancements, the rising implementation of cloud and Artificial Intelligence (AI), and the rising demand for better business workflows are favoring the market growth. Moreover, the increase in smart city development projects is driving the demand for real estate software.
The benefits of real estate software, including improved business productivity, are also driving the market growth. Since a real estate business spans numerous areas such as social media, websites, and online advertising, the demand for effective real estate management tools is rising. Furthermore, manually creating and maintaining separate accounts for each area of work could be time-consuming due to a rise in the number of clients and requirements. Businesses are adopting real estate software to solve these issues and improve business productivity standards.
By Type Analysis
The Customer Relationship Management (CRM) software segment dominated the market in 2020 and accounted for nearly 25% of the revenue share. CRM software supports realtors in staying organized, moving tenants, following up with potential buyers, and closing sales deals on properties.
CRM software also helps improve productivity and efficiency by speeding up routine processes and keeping customers and clients up to date about recent updates. The adoption of smart technologies and enterprise applications for project management could further drive the segment growth.
The contract software segment is expected to grow significantly from 2022 to 2030, registering a CAGR of more than 11.05%. Contract management software can assist in tightening inspection, compliance with regulatory requirements, reducing investor fears, and building customer trust.
By Deployment Analysis
The cloud segment dominated the market in 2020 and is expected to expand at more than 12% CAGR from 2022 to 2030. Cloud-based software provides faster and efficient data access to real estate companies, thus increasing their workflow productivity.
The significant growth in construction activities globally is expected to drive the usage of cloud technologies to better manage businesses and help improve efficiency and productivity by using data to streamline processes.
As compared to the on-premise deployment model, the cloud model does not require additional hardware, making it cost-efficient and economical for small-scale businesses. Furthermore, the storage capacity of the cloud can be easily upgraded or downsized based on requirements and the pay-as-you-go feature makes it more attractive.
Cloud-based construction and project management solutions offer organizations functionalities such as project management, scheduling, and automating tasks into a single dashboard, which could deflate the demand for on-premise solutions.
By Application Analysis
The residential application segment captured the largest share of nearly 55% in 2020. However, the commercial application is projected to emerge as the fastest-growing segment over the forecast period. Real estate software demand in the residential and commercial sectors has seen significant growth in recent years.
Real estate software helps residential and commercial property builders to track associated tasks such as transaction updates, storage of legal documents, property management, and easy handling of property accounts.
By End-use Analysis
Real estate software is majorly used by architects and engineers, owing to which the architects and engineers segment captured nearly 40% of the overall revenue share in 2020. The segment is expected to continue to dominate the market during the forecast period as well.
Real estate software ensures the easy and quick generation of these reports, allowing engineers and architects to focus on their core tasks. Additionally, real estate software helps provide interactive, virtual tours of property that can be used by architects to provide customers a better understanding of their designs.
The real estate agents segment is expected to emerge as the fastest-growing segment over the forecast period. This can be attributed to the increase in the adoption of digital technologies such as VR, AI, and blockchain in the real estate industry.
By Regional Analysis
North America dominated the market for real estate software in 2020 and accounted for nearly 35% share of the global revenue. An increase in urbanization and infrastructure development activities and the adoption of new technologies for various commercial and residential applications are positively impacting the market growth in this region.
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth is attributed to the favorable development of regional economies and the promising expansion of the construction industry.
Altus Group Ltd.
CoStar Realty Information Inc.
MRI Software LLC
Yardi Systems Inc.
Customer Relationship Management Software
Enterprise Resource Planning Software
Property Management Software
Architects & Engineers
Real Estate Agents
Middle East & Africa
The Real Estate Software market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Real Estate Software market for the base year 2020 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Real Estate Software market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Real Estate Software market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Real Estate Software market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Real Estate Software capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Real Estate Software by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Real Estate Software market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Real Estate Software market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Real Estate Software market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Real Estate Software industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Real Estate Software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Real Estate Software market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Real Estate Software market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Real Estate Software market. These factors have benefited the growth of the global market for Real Estate Software. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Real Estate Software. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Real Estate Software are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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