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 10.1% and a value of USD 12.89 billion by 2027. The rising demand to manage and evaluate aspects of wealth, transactions, and assets in real estate are the major factor driving the global real estate software market in 2020. 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
The worldwide real estate software market can be segregated on the basis of deployment, application, component, and region.
On the basis of deployment, the worldwide real estate software market can be classified into on-premise and cloud-based segments.
On the basis of application, the worldwide real estate software market can be classified into commercial and residential.
On the basis of components, the worldwide real estate software market can be classified into solution and service. The service segment is further classified into consulting, and maintenance support services, integration deployment. The solution segment is further classified into enterprise content management, customer relationship management, enterprise resource planning, billing and revenue management (BRM), and others
On the basis of region, the worldwide real estate software market can be classified into the Asia-Pacific, North America, Europe, the Middle East Africa, and South America.
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. The research states, the second position is acquired by Europe. Among all nations, the UK is projected to make the most significant participation in strengthening the regional market. The UK is projected to acquire the largest market share during the forecast period. On the other hand, the rest of Europe is likely to record the highest CAGR during the review period. The APAC region is estimated to expand at the highest CAGR during the forecast period. Among all, India, China, and Japan are estimated to make the most significant participation in the market growth. The fast adoption of cloud computing technology is estimated to drive the regional market at a fast pace. Besides, increment in demand for efficient streamlining daily business among organizations is another factor driving the regional market.
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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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