The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

As per The Business Research Company’s Property Management Service Global Market Report 2024, the property management service market is expected to show significant growth in the forecast period.

 

The property management service market has been expanding rapidly in recent years and is expected to continue its strong growth trajectory in the coming years. This blog explores the market’s current state, future prospects, key trends, and factors driving its growth.

 

Market Overview

Current Market Size

• 2023 Market Size: $14.36 billion
• 2024 Market Size: $15.52 billion
• CAGR (2023-2024): 8.1%
• Growth Drivers: Growing transportation hubs, rising employment centers, increasing maintenance costs, increasing property values, rising lease agreements, and regulatory compliance.

 

Future Projections

• 2028 Projected Market Size: $21.28 billion
• CAGR (2024-2028): 8.2%
• Future Growth Drivers: Rising occupancy rates, increasing operating expenses, increasing rental rates, rising sustainability initiatives, and improving financial performance.

 

View More On The Property Management Service Market Report 2024 – https://www.thebusinessresearchcompany.com/report/property-management-service-global-market-report

 

Key Trends

Technological Advancements

• Remote Management: Enables property managers to oversee operations from anywhere, increasing efficiency.
• Tenant Experience Enhancement: Focus on improving tenant satisfaction through better services and amenities.
• Flexible Leasing Models: Adapting to the needs of different tenants with customizable lease terms.
• Data-Driven Decision-Making: Utilizing analytics to optimize property management strategies.
• Digital Payment Solutions: Streamlining transactions with online payment systems.
• Workforce Evolution: Training staff to use new technologies and improve service delivery.

 

Increasing Demand for Residential Buildings

Driving Market Growth

• Residential Building Demand: Driven by population growth, low mortgage rates, and changing lifestyle preferences.
• Role of Property Management: Essential for streamlining operations, ensuring tenant satisfaction, and maintaining property values.
• Market Data: According to the United States Census Bureau, privately owned housing units authorized by building permits increased by 8.6% from January 2023 to January 2024.

 

Major Players in the Market

Leading Companies

• Vanke Co. Ltd.
• International Business Machines Corporation
• Evergrande Group
• SAP SE
• Jones Lang LaSalle Incorporated
• Poly Property Group Co. Ltd.
• Colliers International Group Inc.
• Trimble Inc.
• Mapletree Investments Pte Ltd.
• Savills Singapore Pte Ltd.
• Entrata Inc.
• Southern Management Corporation

 

Innovative Property Management Solutions

Enhancing Efficiency and Client Experience

• End-to-End Operations Management: Streamlining property administration from leasing and maintenance to financial management.
• Case Example: In February 2023, Hines launched end-to-end property management services in France, aiming to improve local community connections and operational efficiency.

 

Strategic Acquisitions

Avison Young Expands National Retail Platform

• Acquisition of Madison Marquette: In January 2022, Avison Young expanded its portfolio by acquiring Madison Marquette, enhancing its competitive edge in the real estate sector across 11 states.

 

Market Segmentation

By Service

• Rent Collection
• Mortgage and Utility Payment
• Leasing
• Legal and Accounting Services
• Repair and Maintenance
• Other Services

By Property Type

• Residential
• Commercial
• Industrial
• Special Purpose Properties

By End Users

• Property Managers or Agents
• Housing Associations

 

Regional Insights

Current and Future Market Leaders

• North America: The largest region in the property management service market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region in the forecast period.

 

Conclusion
The property management service market is set for significant growth, driven by technological advancements, increasing demand for residential buildings, and strategic acquisitions. As the industry evolves, companies focusing on innovative solutions and enhancing tenant experiences will lead the way in this booming market.

 

Request A Sample Of The Global Property Management Service Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=14782&type=smp

 

The Property Management Service Global Market Report 2024  provides an in-depth analysis on the property management service market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the property management service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

View More Related Reports –
Property Management Software Global Market Report 2024
Property Technology (Proptech) Global Market Report 2024
Property Management Global Market Report 2024

 

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