Top 10 Real Estate Software Vendors, Market Size and Market Forecast 2020-2025

In 2020, the top 10 Real Estate software vendors accounted for nearly 55.1% of the global Real Estate applications market which grew 10.6% to approach nearly $6.7 billion in license, maintenance and subscription revenues.

RealPage was the market leader with a 17.4% market share in license, maintenance and subscription revenue, followed by Yardi, CoStar Group, Intuit, and Microsoft.

We ask the simple question: Who’s buying Real Estate applications from whom and why? And we provide the answers – supported by decades of research – to our clients around the world. (Sample from our Apps Database)

Through our forecast period, the Real Estate applications market size is expected to reach $7.2 billion by 2025, compared with $6.7 billion in 2020 at a compound annual growth rate of 1.5%.

Exhibit 2: Worldwide Real Estate Software Market 2020-2025 Forecast, $M
Year	2020	2025	2020-2025 CAGR, %
Total	6680	7195	1.5%

Source: Apps Run The World, December 2021

Top 10 Real Estate Software vendors

Real Estate (Contracting and building of commercial, public, and residential structures, real estate management) – Bidding, cost estimates, Time Tracking, Homebuilder Software, Quantity Takeoff Software, Property Management, Financials, HR, Procurement

Here are the rankings of the top 10 Real Estate software vendors in 2020 and their market shares.

Rank	Vendor	2019 Real Estate Apps Revenues, $M	2020 Real Estate Apps Revenues, $M	YoY Growth	2020 Real Estate Market Share, %	Recent Developments
1	RealPage	Subscribe	Subscribe	20.2%	Subscribe	Realpage is targeting 62 million rental units for its real-estate management apps and $1B in revenues by 2020. RealPage currently serves more than 29800 clients worldwide from offices in North America, Europe, and Asia.
2	Yardi	Subscribe	Subscribe	8.8%	Subscribe	In June 2021, Yardi has acquired We Are Forge Ltd (Forge), a Bristol, UK-based software company that specializes in visitor management and smart access control for real estate assets including, office, retail, industrial, flexible workspace, and the education sector. Yardi has 20,000 customers, over 3000 of them are running Yardi SaaS applications.
3	CoStar Group	Subscribe	Subscribe	-3.3%	Subscribe	In 2021, CoStar Group acquired Emporis GmbH, a Germany-based provider of international commercial real estate data and images. With over 700,000 building records and 600,000 images, Emporis brings valuable research content from over 100 countries in every major region around the world, which CoStar Group plans to integrate into its international platform.
4	Intuit Inc.	Subscribe	Subscribe	11.2%	Subscribe	Intuit has around 57 million customers around the world. The customer database shows Intuit QuickBooks securing 21 million customers including both Cloud and on-premise accounts. QuickBooks Online customers total more than 5.1 million worldwide, while there are as many as 15 million desktop QuickBooks.
5	Microsoft	Subscribe	Subscribe	9.6%	Subscribe	Microsoft Teams is now used by over 500,000 organizations around the world. Of those, over 150 organizations have 10,000 or more active Teams users, and 91 of the Fortune 100 companies are now using Teams, while Office 365 has more than 120 million business users.
6	Aareon	Subscribe	Subscribe	-2.2%	Subscribe	In the Netherlands, Aareon Nederland offers two ERP systems: REMS for the commercial real estate industry and Tobias AX or now Tobias 365 for the housing industry. Two pilot customers started migrating to Tobias 365 in the third quarter of 2019. The plan is for them to go live with the new system in the second quarter of 2020. The pure migration from the old to the new system takes around four to six months. Around 90 customers are to be migrated over the next five years.
7	AppFolio, Inc.	Subscribe	Subscribe	16.1%	Subscribe	In June 2020, Appfolio expanded AppFolio Property Manager and AppFolio Property Manager PLUS product capabilities in light of the evolving needs of their customers, given the unique challenges brought on by the COVID-19 crisis. AppFolio’s technology is designed to enable superior customer experiences and increase efficiency and productivity. The current disruption stemming from COVID-19 has accelerated the need for digital transformation in the real estate industry. AppFolio users were poised to adapt quickly to the rapidly changing environment, maintaining business continuity, and continuing to serve their many customers in these difficult times.
8	SAP	Subscribe	Subscribe	2.4%	Subscribe	S/4HANA, the de-facto ERP product from SAP In 2020, is enjoying steady growth. About 2,200 SAP S/4HANA customers were added in the year 2020, bringing the number of customers to approximately 17,500 and increasing total adoption by 16% year over year. The current assumption is that by 2025 SAP will be able to migrate 90% of its installed base of ERP customers, covering a total of 25,000 accounts and 48,000 systems, to S/4HANA as the core for these organizations.
9	MRI Software LLC	Subscribe	Subscribe	8.6%	Subscribe	In August 2020, MRI has acquired MacMunnis, Inc., an established provider of lease administration solutions to enterprise businesses managing complex lease portfolios. MRI serves to more than 17.000 clients in more than 170 countries
10	Altus Group	Subscribe	Subscribe	5.2%	Subscribe	In 2020, The launch of Altus Data Studio for Canadian clients was revealed, which combined the legacy RealNet and Altus InSite products into one core platform with significant enhancements to the user experience and introduction of robust data visualization capabilities for comprehensive coverage on the Canadian residential, office, industrial and CRE investment markets. ARGUS has over 7000 customers across 75 countries.
	Subtotal	Subscribe	Subscribe	9.8%	Subscribe
	Other	Subscribe	Subscribe	11.7%	Subscribe
	Total	6038	6680	10.6%	100%

Source: Apps Run The World, December 2021

Other Real Estate software providers included in the report are: Adobe, ADP,  ARCHIBUS, Arcoro, ARGUS Software Solutions, Atlassian, AVEVA Group, Brokermint, Buildertrend, Buildium, Cisco Systems, Citrix, Cosential, CoStar Group, Domum Link, Dropbox, ECi Software Solutions, Entrata, Eque2, eSUB Construction Software, FieldAware, FINALCAD, Foundation Software, Google, HCSS, Hemlane, Hexagon, IBM, iLease Management LLC, Infor, InfoSite, Intralinks Holdings, Inc., a SS&C Technologies Company, iOFFICE, Inc., JDM Technology Group, Lease Harbor, LeaseCalcs, Inc., LogMeIn, Inc., Nemetschek Spacewell (ex MCS Solutions, ex Axxerion), Newforma, Nice Systems, Open Text Corporation, Paycom, PayLease, PayProp, Pegasystems, Penta Technologies, Inc., PlanData Systems Corp, Procore, Property Matrix, Propertybase, Raken, RedTeam Software, LLC, Re-Leased Software Company Ltd, RemoteLandlord, Rent Manager by London Computer Systems, RIB Software SE, Rockwell Automation, Roper Technologies, Inc., Salesforce, ServiceNow, Soft4, SolarWinds, Sopra Steria Group SA, Tableau Software, TenantCloud, Teradata Corporation, The Innovation Group, Twilio, Ultimate Software, Verint Systems Inc., Visma, Vonage, VTS (ex Hightower), WebRezPro Property Management System, Workday, Yonyou, and others.

Custom data cuts related to the Real Estate Applications market are available:

• Top 800+ Real Estate Applications Vendors and Market Forecast 2020-2025
• 2020 Real Estate Applications Market By Functional Market (16 Markets)
• 2020 Real Estate Applications Market By Country (USA + 45 countries)
• 2020 Real Estate Applications Market By Region (Americas, EMEA, APAC)
• 2020 Real Estate Applications Market By Revenue Type (License, Services, Hardware, Support and Maintenance, Cloud)
• 2020 Real Estate Applications Market By Customer Size (revenue, employee count, asset)
• 2020 Real Estate Applications Market By Channel (Direct vs Direct)
• 2020 Real Estate Applications Market By Product

Exhibit 4 shows our projections for the enterprise applications market by vertical segment, based on the buying preferences and the customer propensity to invest in new software within those industries as they continue to upgrade and replace many legacy industry-specific applications that have been identified and tracked in our Buyer Insight Database.

Real Estate Software Purchases Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database

On the buyer side, customers are investing in Real Estate systems based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.

Since 2010, our global team of researchers have been studying the patterns of the latest Real Estate software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.

Updated continuously, our database features extensive win/loss analysis. Each year our research team identifies tens of thousands of these Construction and Real Estate customer wins and losses from public and proprietary sources.

The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.

Source: Apps Run The World, November 2020

Further Readings

An expanded version of this report covers the top 800+ Real Estate Software Vendors, offering in-depth analysis of the market dynamics, vendors’ Strengths, Customers, Opportunities, Risks and Ecosystems as well as their ability to gain Shares (SCORES) within their respective space. We also offer win-loss analysis of the quarterly wins of these top vendors and whether incumbents and upstarts pose any real threat to their standing amid shifting market requirements and user preferences.