Estate Management Software Market - Introduction
- Estate management refers to the acquisition, appraisal, marketing, and disposal of property, and sometimes includes the management of property. Estate management comprises a wide category of commercial property such as hotels, offices, and retail development, or it can include residential property.
- Estate management software helps clients to manage real estate property and assets. Estate management software has various integrated modules such as lease management, data management, help desk, and ticketing, accounts, and visitor management.
- Estate management software is used by tenants and property owners to raise tickets for property issues, make payments, and to participate in property discussions.
- Solution providers offer cloud based and application based modules of the software, where customers can access the estate management software on a device and upload the current photos of the property. Estate management software is also used for resident insurance, prospect screening, and is also a reliable platform for tenants.
- Property owners are using advanced software platforms to manage property data and explore new properties, which is expected to help increase the demand for estate management software platforms in the near future.
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Key Drivers of the Estate Management Software Market
- Increasing adoption of online portals by property owners to modernize, automate, and expand their property business is expected to drive the estate management software market
- Increasing demand for cloud technology in estate management software and for Software as a Service (SaaS) platforms is expected to boost the market
- Increasing complexities related to facility and property management drives the demand for outsourced estate management services. This is expected to offer significant opportunities to solution providers to outsource services of estate management software.
Integration of estate management software with existing systems expected to hinder the market
- Integration of estate management software with existing ERP and CRM systems are key factors that restrain the market
- Estate management software are not available in standalone modules, it is integrated with different modules such as leasing, accounting, payment, and contract management. So it can be creates the integration issues with existing enterprises system which would affect performance of the system. This in turn is expected to hamper the estate management software market.
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Impact of COVID 19 on the Global Estate Management Software Market
- In many countries, construction work and new project development has stopped due to increasing impact of COVID-19 on construction and engineering sectors.
- Property owners use estate management software to manage money transactions, for property maintenance, and to manage tenant records without contacting them personally. The ever-increasing threat of COVID-19 is projected to decrease the demand for property and construction software solutions during the forecast period. However, the increasing adoption of more online platforms among users is expected to start new trends of technology in estate management.
North America to Hold Major Share of the Global Estate Management Software Market
- North America holds prominent share of the global estate management software market due to the presence of major players and availability of technical support and expertise in infrastructure.
- The estate management software market in Asia Pacific and Europe is expected to expand at a rapid pace during the forecast period due to increasing investment by major players to provide solutions across these regions and also due to the increasing software adoption and digital transformation of construction industries and property businesses.
Key Players Operating in the Global Estate Management Software Market
- Bentley Systems, Incorporated
Bentley Systems, Incorporated is a U.S. based software development company engaged in the manufacture, development, and sale of software and services for the construction, design, and operation of infrastructure. The company serves numerous industries including buildings & facilities, communications, discrete manufacturing, electric & gas utilities, mining, oil & gas, power generation, process manufacturing, and water & wastewater treatment. Bentley Systems provides managed and professional services to customers across the globe.
- MRI Software, LLC
MRI Software, LLC is a global provider of investment and real estate management solutions to investors, real estate owners, and operators. The company offers a wide range of property management, financial & accounting, investment management, facilities management, and lease accounting solutions.
Other key players operating in the global estate management software market include Accruent, LLC, Altus Group Limited, RealPage, Inc., Yardi Systems Inc., SMR Group, Propertybase GmbH, Trimble Inc., and Oracle Corporation.
Global Estate Management Software Market: Research Scope
Global Estate Management Software Market, by Type
- Enterprise Resource Planning (ERP)
- Property Management Systems (PMS)
- Customer Relationship Management (CRM)
Global Estate Management Software Market, by Application
Global Estate Management Software Market, by End-user
- Housing Associations
- Property Managers/Agents
- Property Investors
Global Estate Management Software Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.