26 Nov Jon Cartu Reports Key Players, Trends, Share, Industry Size, Key…
The global real estate management software market size is projected to be USD 12.89 billion by 2025. Growing demand for real estate and large infrastructure development is driving the global real estate software market.
Real estate management software offers a single platform for its users to help them monitor all the business related activates across different locations on a single platform making it hustle free. Real estate software creates a virtualized infrastructure for its users making it easy to manage the entire supply chain of the product and customer cycle. It has also made real estate business process centralized and in a structured pattern, owing to which the real estate management software market is growing rapidly.
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Enterprise resource planning (EPR) software typically integrates all operation from back offices, on-site operations including product planning, development, sales and marketing in a single database, application and user interface. ERP real estate software offers different modules that can be customized based on the end application. Owing to which ERP is the highest contributor to revenue in the global real estate market. ERP real estate market was valued at USD 3,283.3 million in 2017 and is anticipated to grow at CAGR 4.8% during the forecast year. Followed by ERP is CRM which was valued at USD 2,688.3 million in 2017. CRM is a customer-centric software thus is expected to grow at CAGR of 5% the highest in product category during the forecast period.
The global real estate management software market report also includes qualitative insights of the market such as driving factors, demand in construction industry, and restraints.
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U.S. real estate software market has seen a steady growth rate and is anticipated to grow at CAGR of 4% during the real estate management software market forecast period. Leasing apartment is a trend to watch due to increased number international students traveling for education purpose. Owing to which, real estate management software have surged in demand as they have successfully streamlined real estate business in the U.S. Real estate software market was thus valued at USD 3,132.5 million in 2017.
Large enterprises have invested heavily in real estate software as this software has assisted them to manage their large business in simplest and efficient way. Large enterprises require the different module and constant up gradation of software, which can be done in this software, owing to which they have surged in demand. Large enterprise by end users was valued at USD 4,458 million in the year 2017 and are anticipated to grow to grow at CAGR of 4.2% during the forecast period.
Players associated with the real estate management software market are focusing on developing new software. For instance, in July 2016, ValuD Consulting, LLC collaborated with IBM Tririga to launch MobilD for IBM TRIRIGA. The purpose of this application is to track real time of the field work.
Similarly, players are also focusing on acquisition as a strategy to gain competitive edge in the real estate software market. For instance, in February 2018, Oracle Corp acquired Aconex Limited a Jonathan Cartu and in construction management platform. The aims of this collaboration was to enhance Oracle Corp’s cloud-based construction software offerings.
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Needed maintenance is a suitable oxymoron that from time to time defines real estate nowadays. The joint efforts of landlords along with real estate managers in certifying that the properties under their portfolio are well-organized leaves considerably to be probed. Generally, maintenance is more of a supplementary function of real estate management companies, as the focus is over obtaining new customers or holding existing ones.
But the amount of time maintenance takes from a real estate manager’s bandwidth is downrightly lawless. This should not get one to a conclusion that concentrating time on maintenance is non-beneficial, nevertheless there is real estate project management software that can enhance the critical functions of real estate management. Some of the significances are mentioned below:
Improved Monitoring and Augmented Safety Benefits
The real estate market is normally riddled with gaps that contributors occasionally take rewards of. It leads to substantial wastage of resources as well as loss of faith amongst shareholders. Thus, opting for a reliable online real estate software solution is key to plugging these breaches so as to keep sufficient checks & balances that might be installed.
- White Paper on “Importance Of Real Estate Management Software“
Real estate is amongst one of the oldest markets that we know of. We have spent several centuries and civilizations gathering knowledge about building and building materials. The importance of commercial, residential and agricultural real estate assets in the history of mankind can barely be overstated. Marriage institutions, social structure, socio-economic organization and inter-state relations unfortunately, sometimes get hampered and encouraged by the working nature of real estate markets.
Key segments of real estate management software market
Product Overview, 2013-2025 (USD million)
Application Overview, 2013-2025 (USD million)
- Small enterprises
- Medium enterprises
- Large enterprises
Regional overview, 2013–2025 (USD million)
- North America
- Rest of the world
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