Property Management Market Definition
Property management is the management or overlooking of residential, commercial, and industrial property including detached houses, apartments, shopping centers, condominium units, etc., it involves the management of property owned by another entity. The property management consists of the processes, systems, and manpower to regulate the life cycle of all acquired property. The market is expecting the slow growth during the forecasted period due to the slowdown of the economy and pandemic.
The market study is broken down by Type (Self-storage Management, Commercial Property Management, Recreational Property Management and Asset Management), by Application (Commercial, Residential, Single-Family Housing and Others) and major geographies with country level splits.
Skyline Property Management (United States), Re-Leased Software Company Ltd (New Zealand), Pro-Visions, LLC (United States), Jones Lang LaSalle Incorporated (JLL) (United States), IBM (United States), Oracle Corporation (United States), SAP SE (Germany), Buildium (RealPage) (United States), Yardi Systems (United States) and Rosmiman (Spain) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Trimble Inc. (United States), Spacewell International (Belgium) and Chetu Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global Property Management market by Type, Application and Region.
On the basis of geography, the market of Property Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Software will boost the Property Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Services, the sub-segment i.e. Marketing will boost the Property Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Property, the sub-segment i.e. Private will boost the Property Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Rental Properties will boost the Property Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 27th January 2020, Jones Lang LaSalle Incorporated (JLL) India announced the official launch of its first property management mobile application 'Overview by JLL' for residential societies. The app automates daily chores and streamlines some of the key concerns in residential societies such as visitor management, billing and payment, and facility booking, etc. This, in turn, elevates the overall experience for residents staying at a property managed by JLL. Overview by JLL is expected to be rolled out for more than 80 JLL managed residential societies in India by the end of 2020, with more than expected 60,000 residents using the app.
On 30th March 2020, PRO-Visions Property Management Company, LLC has launched a boutique-style third-party management company. The company was formed to address the rising need for quality third-party management services. With over 27 years in property management in Charleston, SC, and beyond, including being an owner/partner, Claire C. Moyers, CPM, Owner/CEO of PRO-Visions realized that there was something missing. Their boutique-style management philosophy ensures that assets under their supervision will receive the company's undivided attention. Commitment to organic growth with a set limit of total units managed ensures their focus will remain on achieving the goals and objectives of the companies they serve.
- The Popularity of Rental Property Management Worldwide
- The EMergence of Generation Z in the Property Management
- Demand for Simplifying the Process of Buying and Selling of Property
- Need for the Point of Contact for Tenant Concerns and Other Issues
- The Emerging Value of Brand Building, Placemaking, and Enlivenment in Property Management
- Strict Regulatory Guidelines on Property Listings Around the Globe
- The Slowdown of Economy might Affect the Property Management Market
- Price Fluctuations in Property Management Services
- Rising Property Management Related Frauds
Key Target AudienceProperty Management Service Providers, Property Management Industry Associations, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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