According to MRFR, the Global Real Estate Software Market 2020 is expected to register a 10.1% CAGR during the forecast period, reaching USD 12.89 Billion in 2025.
There is a dynamic nature to the real estate industry. There are a range of areas that need to be controlled which add more difficulty. Hence the need for suitable applications for immovable property comes into the frame. In addition, the platform is composed of several features that help businesses expand their business operations. Different software is proving beneficial for specific business operations. For example , real estate CRM software helps agents manage all of their contacts i.e. buyers and sellers. For any company, the secret to increasing its business is to maintain good relationships with its stakeholders. Comprehensive CRM real estate systems will lead to higher revenue and improved operational performance. Real estate tech gives the users several benefits. Most real estate software provides the capability to connect with any existing applications. In addition, the program assists in producing detailed reports and also offers an overview of developments in revenue and company operations.
Overall, global real estate software is driven by a growing need to manage and analyze aspects of wealth, assets, and real estate transactions, and cloud-based solutions being increasingly adopted.
The Global Real Estate Software Market has been segmented based on Component, Deployment, Application, and Region.
The real estate software market was segmented into solution and service, based on component. Further, the business section is divided into integration & implementation, consultancy, and repair & support services. The strategy section is further broken down into enterprise resource planning, customer relationship management, Billing and Revenue Management (BRM), company content management, among others. In 2018, the Solution segment had the largest share in the overall market. Many real estate companies are deploying these solutions to manage their complex businesses effectively which drives the market.
Based on deployment, the real estate software market has been bifurcated into on-premise and cloud-based segments. The cloud-based segment is slated to register the higher CAGR during the forecast period, 2019–2025
Based on the application, the real estate software market has been segmented as commercial and residential. The commercial segment accounted for the largest share in the year 2018, and it is expected to account for the major share in the forecast period as well.
The global real estate software market has been geographically segmented into Asia-Pacific, North America , Europe , Middle East & Africa and South America.
On the global real estate software market, North America leads the market in terms of market share. Several of the factors responsible for market growth include ongoing developments and a emphasis on real estate technologies by companies of all sizes. Another factor that considerably contributed to growth in the North America real estate software market in 2018 is the presence of several software providers in the marketing. North America was segmented into the United States , Canada and Mexico. The US is expected to acquire the highest market share, followed by Canada and Mexico, according to MRFR analyzes. Given the increasing demand for cloud-based software solutions, the real estate software market in this region is expected to grow.
Europe occupied second position in the market. In this report, Europe was divided into the UK, Germany , France , Italy and the rest of Europe. The UK accounted for the largest share of the overall market between these. The rest of Europe, however, is predicted to experience the highest CAGR over the forecast period.
The Key Players of the Global Real Estate Software Market are Yardi Systems (US), Accruent (US), Trimble, Inc. (US), RealPage (US), MRI Software c(US), IBM Corporation (US), Fiserv, Inc. (US), SAP SE (Germany), Oracle Corporation (US), Autodesk, Inc. (US), CoStar Group, Inc. (US) and NEMETSCHEK, INC (Germany).
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