RIYADH, Saudi Arabia -
April 14, 2025 -
PRLog -- According to the latest market research study published by P&S Intelligence, the Saudi Arabian property management software market is on a steady upward trajectory, poised to grow from USD 46.7 million in 2023 to USD 73.8 million by 2030, exhibiting a CAGR of 6.8% during the forecast period. This surge is largely attributed to the increasing need for remote property management solutions, the rising preference for SaaS-based software, and the Kingdom's ongoing construction boom.
With the Ministry of Municipal and Rural Affairs spearheading the smart city initiative under Saudi Vision 2030 and the National Transformation Program 2020, there is a growing demand for digital infrastructure and efficient property management systems. This transformation is particularly vital as the Kingdom pursues mega-projects such as NEOM, King Salman Park, and the Red Sea development, which demand comprehensive, scalable property management solutions. Additionally, cloud deployment has become the preferred model, enabling businesses to manage and process data remotely with greater flexibility and security.
Key Insights - In 2023, the solutions segment dominated the component market, accounting for over 65% of the revenue share. This demand was driven by the need to streamline property operations, reduce in-person meetings, and enhance remote collaboration among stakeholders.
- The services segment, although smaller, is projected to grow at a faster pace due to increasing reliance on professional implementation and support services.
- Cloud-based deployment was the leading model in 2023 and is anticipated to witness a higher CAGR of 7.0% during 2024–2030. The flexibility and scalability of cloud infrastructure continue to appeal to property management firms.
- On-premises deployment, while still used in some traditional setups, is seeing a decline in favor of more agile cloud options.
Browse detailed report analysis on "Saudi Arabia Property Management Software Industry Growth and Future Analysis (https://www.psmarketresearch.com/market-analysis/saudi-ar...)" - Geographically, the implementation of smart city concepts in five targeted Saudi cities, including the use of smart parking, lighting, and environmental monitoring, is increasing the need for integrated software solutions.
- Saudi Arabia's construction boom, backed by government initiatives and smart infrastructure investments, plays a pivotal role in driving software adoption. High-profile projects such as QIDDIYA, Diriyah Gate, and King Abdullah Financial District are major contributors to market expansion.
- Technical skill shortages remain a minor hurdle, as there's a lack of trained professionals equipped to manage advanced property tech systems. However, the increasing awareness and training programs may mitigate this over time.
- The market is fragmented, with both domestic and international players offering diverse solutions. Prominent vendors include Yardi Systems Inc., AppFolio Inc., RealPage Inc., Entrata Inc., and Guesty Inc.
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