Global Real Estate Software Market was valued US$ 3.2 Bn in 2019 and is expected to reach US$ 10 Bn by 2027, at a CAGR of 15.31 % during forecast period.
Real estate software contains several software like computer aided drafting software, project management software, structural engineering software, enterprise resource planning, and customer relationship management software. Real estate software market will witness significant growth during the period 2018-2026. Considering the deployment of real estate software on-premises or on-cloud, this market will reach up to more than US$ 10 billion by 2026.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Increasing competitive environment of the market is having price pressure on the real estate sector. Additionally, factors like increasing price of raw materials and rising land prices will require companies to remain competitive over optimization of operational costs. This results in a better demand for real estate software as it is used to optimize the cost. Considering factor that will have a major impact on the growth of the market is need for cost optimization for projects managers to be major factors driving market growth.
Real estate software are providing exact information about financial resources involved in the construction project. Project managers will be able to track the budget and make provision for additional finance in advance to make sure that projects are not idle. Real estate software are helping real estate companies in operational activities and processes. Real estate software includes CAD, structural engineering software, project management software, ERP, and CRM.
There is lack of transparency in Real estate sector, Blockchain will help the real estate sector to increasing transparency. Blockchain technology ensures that every record is encrypted, and the record is hackproof. As a result, once the transactions are completed, it cannot be changed. With the help of blockchain real estate transactions, payments will be received instantly even after working hours. Technology minimizing the need for middlemen involved in transactions and ensures smooth and fast transactions. Blockchain helping to reduce frauds in the real-estate sector by arranging comprehensive background checks and so that it is expected to boost the growth of the market during forecast period.
People spending more on traveling and investing in commercial properties due to increased household income. An increasing use of blockchain in real estate management software is seen to protect customer’s interests from external factors. Advantages presented by blockchain are likely to cause a move from traditional methods to blockchain based real estate transactions, which is predicted to be a well for growth of the market during the forecast period.
United States of America is one of the largest consumption countries of Real Estate Software in the world since last few years and it will keep increasing in the next few years. USA market took up about 30% the global market in 2017, while Europe was 27%, and China is followed with the share about 13%.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding real estate software market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in real estate software market.
Scope of Global Real Estate Software Market:
Global Real Estate Software Market by Type:
Global Real Estate Software Market by Application:
• Small Enterprise
• Medium Enterprise
• Large Enterprise
Global Real Estate Software Market by Geography:
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating in Market Include:
• Altus Group
• Yardi Systems
• Argus Financial Software
• MRI Software
• AMSI Property Management
• Yonyou Software
• WxSoft Zhuhai
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