Market Size of United States Real Estate Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Real Estate Services Market Analysis
The US real estate services market is estimated to register a CAGR of approximately 7% during the forecast period (2022-2027).
Despite concern about the possible implications of the COVID-19 pandemic, the real estate services market maintains a favorable outlook for the economy and commercial real estate in 2022. While the new variant will impact the timing of a large-scale return to the office, fiscal and monetary policy will continue to support economic growth.
Market growth is mainly driven by a prerequisite for tools and platforms to tackle customers changing real estate preferences and the rising need for better consumer handling and support. Property managers and real estate agents are focusing on leveraging property management software's benefits to expand their customer base by following a unified technology platform. Adoption of new technology, including the use of artificial intelligence, to increase availability and efficiency, is restructuring the industry, making it easier to take care of client needs and keep property owners informed on the everyday operations of their properties.
US Real Estate Services Industry Segmentation
Market players in the company provide services like property management, valuation services, etc. Property management is the supervision of residential, commercial, and industrial properties, including apartments, detached houses, condominium units, and shopping centers. Real estate appraisal, property valuation, or land valuation is the process of developing an opinion of value for real property. The US Real Estate Services Market is Segmented by Type (Residential, Commercial, and Other Property Types) and Service (Property Management, Valuation Services, and Other Services). The report offers market size and forecasts for the US Real Estate Services Market in value (USD billion) for all the above segments.
| By Property Types | |
| Residential | |
| Commercial | |
| Other Property Types |
| By Service | |
| Property Management | |
| Valuation Services | |
| Other Services |
United States Real Estate Services Market Size Summary
The US real estate services market is poised for significant growth, driven by the increasing demand for advanced tools and platforms to meet evolving consumer preferences. The market is experiencing a transformation due to the integration of new technologies, such as artificial intelligence and Internet of Things devices, which are enhancing efficiency and client engagement. Property managers and real estate agents are leveraging property management software to expand their customer base and streamline operations. The facility management sector, a major component of real estate services, is benefiting from technological advancements that reduce operating costs and improve service delivery. This sector's digital revamp is attracting investments and fostering strategic partnerships, further propelling market growth.
The market landscape is characterized by a mix of international and local players, with prominent companies like Jones Lang Lasalle Inc., CBRE Group, Brookfield Properties LLC, Homeservices of America Inc., and Cushman & Wakefield Holdings Inc. leading the charge. These companies are actively adopting and integrating new technologies to enhance service offerings and property performance. The fragmented nature of the market, coupled with the ongoing adoption of innovative solutions, is expected to drive expansion during the forecast period. Recent strategic moves, such as CBRE Group's acquisition of Buildingi, underscore the industry's focus on holistic occupancy management and technological integration, which are crucial for maintaining competitiveness in a dynamic market environment.
United States Real Estate Services Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Market Opportunities
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Property Types
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2.1.1 Residential
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2.1.2 Commercial
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2.1.3 Other Property Types
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2.2 By Service
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2.2.1 Property Management
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2.2.2 Valuation Services
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2.2.3 Other Services
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United States Real Estate Services Market Size FAQs
What is the current United States Real Estate Services Market size?
The United States Real Estate Services Market is projected to register a CAGR of less than 7% during the forecast period (2024-2029)
Who are the key players in United States Real Estate Services Market?
Jones Lang Lasalle Incorporated, Cbre Group Inc., Brookfield properties LLC, Homeservices of America Inc. and Cushman & Wakefield Holdings Inc. are the major companies operating in the United States Real Estate Services Market.
