Market Synopsis:
As per the research by Market Research Future Reports (MRFR), the global real estate software market is estimated to record a CAGR of 10.10% and a value of USD 12.7474 billion by 2030. The rising demand to manage and evaluate aspects of wealth, transactions, and assets in real estate is the major factor driving the global real estate software market. There has been a surging adoption of cloud-based solutions, which further drives the market. Also, real estate enterprises and agents are constantly investing in implementing these solutions, and hence, it generates more opportunities in the market.
The outbreak of COVID-19 is likely to augment the real estate software market in the forthcoming period. The research performed by MRFR tracks the aftermath of the COVID-19 pandemic. Furthermore, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment. We will provide a COVID-19 impact analysis with the report.
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Market Segmentation:
Demographic Segmentation
- Size of the real estate business: Real estate software providers can segment the market by the size of the real estate business. This can be done by number of employees, annual revenue, or number of properties managed.
- Type of real estate: Real estate software providers can also segment the market by the type of real estate. This can be done by residential, commercial, or industrial real estate.
- Location: Real estate software providers can segment the market by location. This can be done by country, state, or city.
Psychographic Segmentation
- Business goals: Real estate software providers can segment the market by the business goals of the real estate business. This can be done by increasing sales, improving efficiency, or reducing costs.
- Technology adoption: Real estate software providers can segment the market by the technology adoption of the real estate business. This can be done by whether the business is using on-premises software, cloud-based software, or a hybrid approach.
- Culture: Real estate software providers can segment the market by the culture of the real estate business. This can be done by whether the business is a traditional real estate business or a more tech-savvy business.
Behavioral Segmentation
- Usage: Real estate software providers can segment the market by the usage of real estate software. This can be done by how often the software is used, what features are used, and how the software is used.
- Needs: Real estate software providers can segment the market by the needs of the real estate business. This can be done by what features are needed, what level of support is needed, and what budget is available.
Geographic Segmentation
- Country: Real estate software providers can segment the market by country. This can be done by the size of the real estate market, the level of technology adoption, and the regulatory environment.
- Region: Real estate software providers can segment the market by region. This can be done by the economic outlook, the population growth, and the level of urbanization.
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Regional Analysis
A regional evaluation of the Asia-Pacific, North America, Europe, the Middle East & Africa, and South America has been conducted. As per the analysis, North America leads the market. The region is projected to hold the largest market share during the forecast period. The rise in demand for cloud-based software solutions is the major reason leading to regional expansion. The increasing focus towards developing real estate software has propelled the market growth. Besides, the rising investment in the sector has further fueled market growth in the region. Moreover, the region consists of several software providers, which makes the region stronger than the other regions. Among all nations, the US is estimated to make the most significant participation in expanding the market.
Key Players
The forefront players of the global real estate software market are Accruent (US), IBM Corporation (US), Trimble, Inc. (the US), RealPage (US), Yardi Systems (US), Fiserv, Inc. (the US), MRI Software (US), Oracle Corporation (US), Autodesk, Inc. (US), SAP SE (Germany), CoStar Group, Inc. (the US), INC (Germany), and NEMETSCHEK.
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