Thailand Property Management market revenue is projected to grow at a CAGR of 3.1% respectively during 2024-2030F

On the basis of component, services attained the largest revenue share in Thailand Property Management Market – 6Wresearch

In 2023, the Services dominated Thailand's Property Management Market based on components due to growth in commercial and residential real estate. As property numbers increased, demand for professional property management services rose. Property owners increasingly outsourced tasks such as tenant screening, lease management, and maintenance to specialized companies.

According to 6Wresearch, Thailand Property Management market revenue is projected to grow at a CAGR of 3.1% respectively during 2024-2030F. Thailand aims for a 50% digital economy by 2030, with 5G coverage reaching 85% by 2022 and subscriptions projected to surpass 55% of total mobile subscriptions by 2025. Cloud adoption stands at 30% in government and 70% in the private sector. The adoption of IoT-integrated software solutions like Yardi Voyager and RealPage Propertyware is enhancing efficiency and improving tenant experiences in property management.

Hotel regulations in Thailand, specifically the Hotel Act B.E. 2547 (2004) and Foreign Business Act B.E. 2542 (1999), significantly impact the growth of the property management solutions market. These regulations impose stringent licensing requirements and foreign ownership restrictions, limiting foreign investments. As a result, property management solution providers encounter barriers to entry and expansion in the Thai market, impeding the digital transformation and innovation necessary to improve management efficiency and tenant experiences.

According to Shivankar, Research Manager, 6Wresearch, the Hospitality sector dominated the Thailand Property Management Market based on vertical. Post-COVID-19, Thailand experienced a revival in tourist arrivals, leading to a surge in domestic and international tourism and increased demand for hospitality services. This resulted in higher occupancy rates in hotels, resorts, and other accommodation facilities, boosting the Hospitality sector's revenue within the Property Management Market.

The Thailand Property Management Market (2024-2030) report provides an in-depth analysis with 17 figures and 8 tables, covering 71 pages. The report comprehensively covers the market by component, organization size, deployment type and vertical. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.