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/PRNewswire/ -- The US real estate brokerage software market is poised for significant growth, with an estimated expansion of USD 989.1 million from 2024 to 2028, according to a report by Technavio. This growth is driven by the increasing focus of real estate brokers on enhancing operational efficiency and client services.
The market is expected to grow at a CAGR of 9.33% during the forecast period, with key players such as Altus Group Ltd., BoomTown ROI, LLC, Brokerage Management Solutions Inc, COMPASS, INC., CoreLogic Inc., CoStar Group Inc., Enchant LLC, eXp World Holdings Inc., Inside Real Estate, Keller Williams Realty Inc., Lone Wolf Technologies Inc., Placester Inc., RE MAX Holdings Inc., Real Geeks LLC, REALTYBACKOFFICE INC., Redfin Corp, Salesforce Inc., The Wise Agent LLC, Woolley Robertson Group Inc., Yardi Systems Inc., Zillow Group Inc., and Zurple Inc.
The report highlights the growing adoption of digital solutions in the real estate industry, with cloud-based solutions, property management systems, and mobile features becoming essential for brokers to manage their listings, tenants, and properties efficiently. The use of artificial intelligence (AI), machine learning (ML), and blockchain technology is also transforming the industry, offering new opportunities for asset performance tracking, lease management, and tenant billing.
However, the market faces challenges from open-source real estate brokerage software solutions, which provide cost-effective alternatives with customizable and adaptable features. Vendors must differentiate their offerings by providing advanced features, enhanced support, and security measures to justify their higher costs.
The report emphasizes the importance of digital transformation in the real estate industry, with a focus on ROI, data management strategies, and sensitive data protection. Emerging technologies like blockchain technology, smart contracts, and the Internet of Things (IoT) are expected to play a significant role in shaping the future of real estate software.
Key insights into market evolution with AI-powered analysis can be explored by viewing the snapshot of this report. The Real Estate Brokerage Software Market in US Scope includes:
* Report Coverage: Base year 2023, Historic period 2018 - 2022, Forecast period 2024-2028
* Growth momentum & CAGR: Accelerate at a CAGR of 9.33%
* Market growth 2024-2028: USD 989.1 million
* Market structure: Fragmented
* YoY growth 2022-2023 (%): 9.04
* Regional analysis: US, Performing market contribution: North America at 100%
* Key countries: US and North America
* Key companies profiled: Altus Group Ltd., BoomTown ROI, LLC, Brokerage Management Solutions Inc, COMPASS, INC., CoreLogic Inc., CoStar Group Inc., Enchant LLC, eXp World Holdings Inc., Inside Real Estate, Keller Williams Realty Inc., Lone Wolf Technologies Inc., Placester Inc., RE MAX Holdings Inc., Real Geeks LLC, REALTYBACKOFFICE INC., Redfin Corp, Salesforce Inc., The Wise Agent LLC, Woolley Robertson Group Inc., Yardi Systems Inc., Zillow Group Inc., and Zurple Inc.
The report provides a comprehensive analysis of the market, including its segmentation by type, deployment, application, geography, and company landscape. It also offers insights into the customer landscape, geographic landscape, drivers, challenges, and trends in the market.
