What is Property Appraisal Software Market?
A property appraisal is the process of creating an estimate of value for real estate. The cost approach, sales comparison approach, and income approach are the three approaches that come under the property appraisal. Two main methods are used in property appraisals such as the fair market value method and land and building method.
The market study is being classified, by Application (Property Developers, Valuers and Agents, Lenders and Others) and major geographies with country level break-up.
SFREP (United States), ValueLink (United States), HouseCanary (United States), ACI Analytics (United States), Tensor Flight (United States), Bowery (United States), HazardHub (United States), GeoPhy (United States), Accurate Group (United States) and 2Boss (China) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are CompStak (United States), Trepp (United States) and Reggora (United States).
Global Property Appraisal Software is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Software. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Segment Analysis
Analyst at AMA have segmented the market study of Global Property Appraisal Software market by Type, Application and Region.
On the basis of geography, the market of Property Appraisal Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Application of Property Appraisal Software among Real Estate Industry
Market Trend
- Consumer focus towards Reduce Property Tax
Restraints
- Property Appraisal Software did not offer any free use
Opportunities
- Growing Demand for Property Management Software and Services
Challenges
- Regulatory Guidelines On Property Appraisal Software Developers
Market Leaders and some development strategies
In 31st March 2021, SFREP and PropMix announced the partnership. The combination will allow appraisers to seamlessly access PropMix and an appraisal analytics platform named “Profet.ai” directly from SFREP’s Appraise-It Pro forms platform. The partnership will provide a unique appraisal analytics platform where appraisers can focus on analytics instead of data gathering.
Key Target Audience
Property Appraisal Software Developers, New Entrants, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others