Real Estate Software Market is forecast to reach $20.6 billion by 2026, growing at a CAGR of 5.7% during the forecast period from 2021 to 2026. Real estate software are the tools that enable customers with certain facilities like expense tracking, Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Property Management, Lead generation software, video editing, open house management software and other tools streamline listing and simplifying transaction management. Urbanization and surge in adoption of new software tools for accurate data software, decreased risk of errors and other facilities are factors driving the growth of the market. The surge in adoption of new software to keep the records successfully along with growth in the residential and commercial real estate activities and vendors are driving the growth of the market.
Competitive Landscape:
The top 5 players in the Real Estate Software industry are –
1. Oracle Corporation
2. RealPage
3. Microsoft Corporation
4. Yardi Systems Inc
5. Bentley Systems Inc
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Segmental Analysis:
1. Cloud deployed software is expected to have a major growth at 8.7% in the real estate software market during the forecast period 2021-2026. Deployment of cloud real estate software have been increasing across the real estate companies due to its capability of providing much more efficient and faster data access and property management, thus improving the workflow productivity.
2. North America is expected to have a major share in the global real estate software market in 2020 at 37.1% share. Presence of some key players such as Oracle Corporation, Microsoft Corporation and RealPage are acting as major drivers for the growth of real estate software market.
3. Rising preference for homeownership, hike in residential rental properties, growth in modern infrastructure building, and expansion of commercial space demands the necessity for real estate software which facilitates associated task tracking such as storage of the legal contract documents, property management and transaction updates and history, and ease of property account handling.
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Report Coverage |
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Report Attributes |
Details |
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By Deployment Type |
Cloud and On-Premise |
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By Type |
Customer Relationship Management software, Content Management software, Financial Management software, Real Estate contract software |
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By Application |
Commercial and Residentia |
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By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World |
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Market Drivers and Challenges:
1. Improves business productivity : The demands towards real estate software have been rising due to its capability of improving business productivity standards, thus acting as a major driver towards the significant market growth.
2. Rising technological advancements : Rising technological growth has been acting as one of the major driving factor towards the market growth of real estate software market. With growing demands towards advanced technologies such as artificial intelligence, cloud and many others, real estate business has been also shifting towards development of smart homes to boost their business growth.
3. High investments : High investments are acting as one of the major challenge towards hampering the market growth of real estate software. Due to rising demands towards real estate business, such software has been facing higher demands owing to its capability of increasing workflow productivity within the organization through ERP, CRM and lead generation software.
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