The property management service global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Property Management Service Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The property management service market size has grown strongly in recent years. It will grow from $14.36 billion in 2023 to $15.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to growing transportation hubs, rising employment centers, increasing maintenance costs, increasing property values, rising lease agreements, and regulatory compliance.
The property management service market size is expected to see strong growth in the next few years. It will grow to $21.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising occupancy rates, increasing operating expenses, increasing rental rates, rising sustainability initiatives, and financial performance. Major trends in the forecast period include remote management, tenant experience enhancement, flexible leasing models, data-driven decision-making, digital payment solutions, streamlined transactions, and workforce evolution.
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Scope Of Property Management Service Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Property Management Service Market Overview
Market Drivers –
The increasing demand for residential buildings is expected to propel the growth of the property management service market going forward. A residential building is a structure designed and constructed to serve as a dwelling place for individuals and families, providing a space for living, sleeping, and daily activities. The increasing demand for residential buildings is driven by various factors, such as population growth, low mortgage rates, and changing lifestyle preferences. Residential buildings utilize property management services to streamline operations, ensure tenant satisfaction, and maintain the value of their assets. For instance, in February 2024, according to the United States Census Bureau, a US-based statistical agency in the federal government, in January, the number of privately owned housing units authorized by building permits reached a seasonally adjusted annual rate of 1,470,000, marking an increase of 8.6% from January 2023, when the rate was 1,354,000. Similarly, the rate of privately owned housing completions in January stood at 1,416,000, reflecting a 2.8% rise compared to January 2023, when the rate was 1,377,000. Therefore, increasing demand for residential buildings is driving the property management service market.
Market Trends –
The major companies operating in the quantum computing market are focused on developing quantum development kits, such as Azure Quantum Development Kit (QDK), to gain a competitive edge in the market. Azure Quantum Development Kit (QDK) is a software development kit for quantum computing development that aims to empower developers to explore and experiment with quantum algorithms, simulate quantum systems, and ultimately build applications for quantum computers. For instance, in January 2024, Microsoft, a US-based technology company, launched a 1.0 version of the Azure Quantum Development Kit (QDK), featuring a significant rewrite for speed, simplicity, and browser compatibility. The QDK is mostly rewritten in Rust, offering a 100x performance boost and integration with Azure Quantum Service. It includes a VS Code extension with a Q editor, debugger, and resource estimator for quantum programming. The release aims to support developers in navigating the ‘Noisy Intermediate Scale Quantum’ phase and advancing towards Level 2 quantum computing capabilities.
The property management service market covered in this report is segmented –
1) By Service: Rent Collection, Mortgage And Utility Payment, Leasing, Legal And Accounting Services, Repair And Maintenance, Other Services
2) By Property Type: Residential, Commercial, Industrial, Special Purpose Properties
3) By End Users: Property Managers Or Agents, Housing Associations
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Regional Insights –
North America was the largest region in the property management service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the property management service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the property management service market are Vanke Co. Ltd., International Business Machines Corporation, Evergrande Group, SAP SE, Jones Lang LaSalle Incorporated, Poly Property Group Co. Ltd., Colliers International Group Inc., Trimble Inc., Mapletree Investments Pte Ltd, Savills Singapore Pte Ltd, Yardi Systems Inc., RealPage Inc., AppFolio Inc., Entrata Inc., Southern Management Corporation, Quintessentially Estates Limited, Abacus Group LLC, Lee & Associates Commercial Real Estate Services Inc., Marsh & Parsons Limited, Summit Management Services Inc., Blue Sky Luxury, Archibus Inc., Rhodo Property & Estate Management Services, Rently Inc., Premier Property Management Services, Elda Management Services Inc., Advantage Property Management Services, Alpha Property Management Services LLC, Rosen Management Services, Orchard Block Management Services, Preferred Property Management Services Inc.
Table of Contents
1. Executive Summary
2. Property Management Service Market Report Structure
3. Property Management Service Market Trends And Strategies
4. Property Management Service Market – Macro Economic Scenario
5. Property Management Service Market Size And Growth
…..
27. Property Management Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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