- A HOA, or homeowners association, is an organization in a planned condominium or community that makes and enforces rules for the residents and their properties by paying monthly fees, in order to maintain the upkeep of buildings or amenities and common areas through homeowners association (HOA) software.
- Homeowners association software, or HOA software, is an all-in-one management tool comprised of a website builder, online contact database, communications system (email), finance & payment system, and event platform, among other features. HOA software helps to manage the homeowners association through the HOA app. In addition, HOA software helps to maintain a full contact database that is easy to search, filter, and update.
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Global Homeowners Association (HOA) Software Market: Dynamics
Global Homeowners Association (HOA) Software Market: Key Drivers and Restraints
- Technological advancement in property management is leading to high demand for a software, an all-in-one property management solution, for both multifamily and single-family communities. This is expected to drive the growth of the homeowners association (HOA) software market.
- Managing high-rise communities that empower with property information and makes property assets accessible, is one of the major factors boosting the homeowners association (HOA) software market.
- Rising real estate sector across the globe is expected to fuel the homeowners association (HOA) software market.
- Growing construction industry worldwide, in order to fulfill the regulations and guidelines within an HOA’s jurisdiction for property management is expected to drive the homeowners association (HOA) software market.
- High association fees, which could act as a deterrent for prospective buyers is one of the factors hampering the Homeowners association (HOA) software market.
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Asia Pacific to Account for Major Share of the Global Homeowners Association (HOA) Software Market
- In terms of region, the global homeowners association (HOA) software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- The homeowners association (HOA) software market in North America is anticipated to expand at a rapid pace over the forecast period, due to a rising construction industry. This in turn is expected to boost the growth of the homeowners association (HOA) software market in the region.
- Europe is expected to hold a significant share in the global (HOA) software market due to simplifying modern working and living in residential communities in the region.
- The homeowners association (HOA) software market in Asia Pacific is expected to hold a significant share due to a rising construction sector, which in turn is forcing HOA software vendors to adopt innovative business models that not only provide strategic value to their services, but also operational efficiency. This in turn is accelerating the growth of the HOA software market in the APAC region. India and China are the major countries enhancing the growth of the HOA software market, due to increasing population.
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Global Homeowners Association (HOA) Software Market: Competitive Landscape
Key Players Operating in the Global Homeowners Association (HOA) Software Market
Local, regional, and international players are found in the homeowners association (HOA) software market. The market is highly consolidated, with top manufacturers accounting for approximately 25%–30% share of the market. Key players operating in the global homeowners association (HOA) software market are:
- AppFolio, Inc.
- Bitrix, Inc.
- Buildium
- CINC Systems, LLC
- CoreLogic
- Entrata, Inc.
- RealPage, Inc.
- Rentec Direct
- TOPS Software, LLC.
- Wild Apricot Inc.
- Yardi Systems, Inc
Global Homeowners Association (HOA) Software Market: Research Scope
Global Homeowners Association (HOA) Software Market Segmentation, by Deployment
- On-premise
- Cloud
Global Homeowners Association (HOA) Software Market Segmentation, by Subscription Type
- Basic
- Standard
Global Homeowners Association (HOA) Software Market Segmentation, by Application
- Membership Management
- Event Registration
- Website Builder
- Online Payment
- Contact Database
- Mobile Solutions
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