The U.A.E. property management software market was valued at USD 68.2 million in 2023, and it will touch USD 112.3 million, advancing at over 7.3% CAGR, by 2030.
This growth is because of the increasing need for the software-as-a-service (SaaS) model of property management, surging construction activities, and growing demand for remote property management.
The arrival of cloud technology is a key innovation in the software sector. Cloud technology has significantly impacted the means software applications are delivered to customers.
This transformation has allowed software developers to emphasize more on the technology part of software while outsourcing the management part to cloud service providers.
Cloud computing and software-as-a-service (SaaS) incorporated services have increased fame as a way of delivering services. Establishments of all sizes will profit from subscription-based SaaS solutions.
Companies operating in this industry are progressively turning to SaaS solutions to streamline procedures by automating workflows as well as manual input.
The application of cutting-edge technologies in property management software is a major trend being observed in this industry.
The implementation of AI in property management software can reduce cost and time. Building operations can be data-driven, a method that can assist property owners examine and organizing their data for enhanced customer services.
Key Insights
• The services category will propel at a higher compound annual growth rate, of 7.2%, during this decade.
• In 2023, the deployment and integration category accounted majority of the share, and the category will further advance at a healthy rate in the coming years.
• This can be credited to the increasing employment of software through companies’ cloud stations and the fact that they simplify their work-associated incorporation.
• The rising need for cloud-based enterprise presentations and growing demand for cloud computing services have further assisted this category expansion.
• In 2023, the deployment of software through the cloud accounted for the larger share of the industry, and it will further grow at a higher rate, of 6.9%, in the coming years.
• The surging data production via websites and mobile apps, increasing emphasis on developing customer-centric applications, to improve customer satisfaction, and the growing requirement to reduce OPEX and CAPEX are driving this category.
• Property managers was the larger contributor to the industry in 2023, with more than 70% share, and it will further advance at a higher rate, of 7.2%, in the years to come.
• Property managers have become the major users of property management software because it enables them to maintain various tasks across many commercial and residential properties, to make their tenants pleased and willing to renew their agreements.
• The U.A.E. property management software industry is competitive with a mix of local and international players providing property management software solutions.
• Major players are partnering with other players to enhance revenue generation.
• For example, RealPage Inc. has partnered with Airbnb to introduce a solution named “Migo”, to make housing more inexpensive.
• The solution provides the technology to make it easier for property owners and residents, by incorporating with service providers to make Airbnb work better in apartments.
