With 9.8% CAGR, Property Management Market Size Worth USD

Pune, India, Oct. 21, 2022 (GLOBE NEWSWIRE) — The global property management market Size was valued at USD 17.69 billion in 2021. The market is projected to grow from USD 19.33 billion in 2022 to USD 37.25 billion by 2029, exhibiting a CAGR of 9.8% during the forecast period. This information is provided by Fortune Business Insights, in its report titled, “Property Management Market, 2022-2026.”

KEY INDUSTRY DEVELOPMENTS:

March 2021 – Planon partnered with AddOnn to combine AddOnn’s SaaS solution with Planon’s software platform for building & service digitization to offer end-to-end solutions to end-users across the globe.

April 2021 – Trimble, Inc. bolstered the availability of Trimble Quadri BIM collaboration software for civil projects, including roads, bridges, and railways.

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Expanding Penetration of Artificial Intelligence to Usher in Innovation

The influence of the COVID-19 outbreak prompted companies to seek smart and artificial intelligence-based technologies across advanced and emerging economies. With employees resuming work from the office, building managers are grappling with challenges to designing plans that help keep up with tenants’ demands. It is worth noting that governments and other stakeholders have upped investments in real estate assets across emerging economies. Moreover, real estate demand could gain an uptick in the ensuing period. Savills India claims real estate demand to surge by 15-18 million square feet by 2025.

Report Scope & Segmentation