Real estate software contains various solutions affecting the various sections of the real estate sector ranging from listings of houses to sale of the house. Many of the solutions cover enterprise content management, customer relationship management, enterprise resource planning, and others. The global real estate software market report by Market Research Future (MRFR) covers drivers, opportunities, challenges, and niches for the period of 2019 to 2025 (forecast period). The COVID-19 outbreak and its implications on the industry are noted in the report.
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Market Scope
The global real estate software market is expected to register a 10.1% CAGR during the forecast period, reaching USD 12.89 Billion in 2025.
Segmentation
Based on component, the real estate software market has been segmented into solution and service. The service segment is further bifurcated into integration & deployment, consulting, and maintenance & support services. The solution segment is further divided into enterprise resource planning, customer relationship management, billing and revenue management (BRM), enterprise content management, and others. The solution segment accounted for the largest share in the overall market in 2018. Many real estate enterprises are deploying such solutions to effectively manage their complex businesses, which is driving the market.
Based on deployment, the real estate software market has been segmented into on-premise and cloud-based segments. The cloud-based segment is expected to register the higher CAGR during the forecast period, 2019–2025.
Based on application, the real estate software market has been segmented into commercial and residential. The commercial segment accounted for the largest share in the year 2018, and it is expected to account for the largest share in the forecast period as well.
Competitive Outlook
Fiserv, Inc., SAP SE, CoStar Group, Inc., IBM Corporation, Yardi Systems, Trimble, Inc., Oracle Corporation, MRI Software, Accruent, NEMETSCHEK, INC, Autodesk, Inc., and RealPage are key players of the global real estate software market.
Regional Analysis
With the growth in the real estate industry, enterprises in developing regions such as Asia-Pacific (APAC), South America, and the Middle East & Africa (MEA), are looking for comprehensive solutions that can increase business efficiency. Different software is proving to be helpful for various business operations. For instance, real estate CRM software is helpful for agents to manage all their contacts i.e. buyers and sellers. For any enterprise, maintaining strong relationships with its stakeholders is the key to growing its business. Comprehensive real estate CRM solutions can lead to increased sales and improved operational efficiency. Real estate software offers several benefits to the users. Most of the real estate software offers integration capability with any legacy software. Furthermore, the software helps in the generation of comprehensive reports and also offers an analysis of trends in the sales and business operations.
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