Global Tenant Billing Software Market

By Author: Rupali Dagade
Total Articles: 446
Comment this article

Global Tenant Billing Software Market size was valued at US$ 293.2 Mn. in 2019 and the total revenue is expected to grow at 8.4 % through 2021 to 2027, reaching nearly US$ 559.1 Mn.

Global Tenant Billing Software Market Overview:

Tenant billing software allows businesses to divide utility costs across renters, departments, and cost centres. Organizations that manage or control many properties, such as airports, residential complexes, service stations, retail parks, and ports, will benefit from the software.

The Global Tenant Billing Software Market was estimated at US$ 293.2 Million in 2019, and it is expected to reach US$ 559.1 Million by 2027, growing at a CAGR of 8.4 % over the forecasting period of 2021-2027.

To know about the Research Methodology :- Request Free Sample Report

The report has covered the market trends from 2015 to forecast the market through 2026. 2019 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown ...
... for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Global Tenant Billing Software Market Dynamics:

The rapid transition from manual to automatic billing technology to improve the tenant billing system, thereby reducing manual participation in meter reading or creating invoices, thereby increasing the deployment of the software, thereby promoting the growth of the tenant billing software market. Tenant billing software provides various benefits, such as providing real-time data consumed by tenant utilities, reducing costs through automatic billing, avoiding inaccuracies and other benefits expected from the growth of the tenant billing software market. In addition, the increasing penetration of cost-effective solutions provided by IoT-based meter reading and cloud-based deployment is expected to affect the growth of the tenant billing software market. Tenant billing systems also make it possible to review a tenant's bill at any time and from any location. Therefore, customer involvement improves the transparency of the process. The participation of advanced technology, the simplicity and accuracy of the process has promoted the growth of the tenant billing market.

Lack of awareness about technology is major restraint to the tenant billing system market.

Artificial intelligence and machine learning advancements can deliver more precise details on time, which are anticipated opportunities for the growth of the tenant billing system market. Electricity billing had progressed from the days when utilities collected monthly energy consumption data in order to generate a paper invoice that they mailed to customers. Smart meters, such as two communicating meters, make it easier to adjust the process to simplify it.

Global Tenant Billing Software Market Segment Analysis:

On the basis of deployment, the global tenant billing software market is sub-segmented into Cloud, On-premise. The cloud segment held largest market share of more than 65.0% in 2019. Because of the data generated by the software is stored in the cloud, which is available to all departments, cloud-based tenant billing software activities are emerging as an emerging trend in the billing industry. Furthermore, growing usage among small, medium, and big businesses is driving up demand for cloud-based billing software. This data is utilised to calculate an occupant's bill based on energy usage over the course of a year, month, or four weeks. Furthermore, it reduces the indirect expenses of money recovery for property managers.

The on-premise segment is expected to rise significantly over the forecast period, owing to easy integration with existing IT infrastructure and it has high level of data security. Ownership and control of the hardware, data, and software platform are all advantages of on-premise billing software.

On the basis of application, the global tenant billing software market is sub-segmented into Residential, Commercial. The residential segment held largest market share of more than 55.1 % in 2019. Property owners can use tenant billing software to keep track of resident information, property information, contract information, resident subscriptions, owner information, and history. Multiple billing systems make it easier to generate bills automatically and send them through email or print them for posting.

The commercial segment is expected to rise significantly over the forecast period, owing to increasing number of retail stores, hotels, airports, industrial sites, increasing IT infrastructure all this factors are helpful for growing tenant billing software market.

Global Tenant Billing Software Market Regional Insights:

North America accounted for the largest share of 25% in 2019. The use of cloud-based tenant billing software by businesses of all sizes, as well as the development of smart grid hotel and real estate industries in the region, are both contributing to the tenant billing software market growth.

The Asia-Pacific is second-dominant region during the forecast period. Government regulations, growing cloud-based solutions, growing population, and increasing focus on customer relationship management are key factors driving market growth in this region. Advances in technology such as artificial intelligence (AI) and machine learning are expected to boost the use of billing software among tenants in the region.

Europe accounted for the second largest share in 2019, exceeding 20.0%. This growth can be attributed to the existence of a large number of commercial and residential buildings, as well as the high level of digitalization in the area.

The objective of the report is to present a comprehensive analysis of the global Tenant Billing Software market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Tenant Billing Software market dynamics, structure by analyzing the market segments and projects the global Tenant Billing Software market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Tenant Billing Software market make the report investor’s guide.

For more information visit@ https://www.maximizemarketresearch.com/market-report/global-tenant-billing-software-market/115597/

Global Tenant Billing Software Market Scope: Inquire before buying

Global Tenant Billing Software Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Global Tenant Billing Software Market Key Players

• Accuenergy Ltd
• AZZO Pty Ltd
• Energy Hippo, Inc.
• Enertiv
• Entronix Energy
• eSight Energy
• MACH Energy
• Optima Energy Systems Ltd.
• SystemsLink 2000 Ltd.
• TEAM
• Commercial Water & Energy Co.
• Delmon Solution
• Honeywell International Inc.
• IOTomation Ecotech
• Semsys
• Aquicore
• SyxthSense
• Leviton

Frequently Asked Questions:

1. Which region has the largest share in Global Tenant Billing Software Market?
Ans: North America region holds the highest share in 2019.

2. What is the growth rate of Global Tenant Billing Software Market?
Ans: The Global Tenant Billing Software Market is growing at a CAGR of 8.4 % during forecasting period 2021-2027.

3. What segments are covered in Global Tenant Billing Software market?
Ans: Global Tenant Billing Software market is segmented into deployment application and Region.

4. Who are the key players in Global Tenant Billing Software market?
Ans: The important key players in the Tenant Billing Software market are - Accuenergy Ltd, AZZO Pty Ltd, Energy Hippo, Inc., Enertiv, Entronix Energy, eSight Energy, MACH Energy, Optima Energy Systems Ltd., SystemsLink 2000 Ltd., TEAM, Commercial Water & Energy Co., Delmon Solution, Honeywell International Inc., IOTomation Ecotech, Semsys, Aquicore, SyxthSense, Leviton.

5. What is the study period of this market?
Ans: The Global Tenant Billing Software market is studied from 2019 to 2027.

This report submitted by Maximize market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Contact info:
Name: Lumawant Godage
Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD.
Email: sales@maximizemarketresearch.com
Address: Omkar Heights, Sinhagad Road, Manik Baug, Vadgaon Bk,Pune, Maharashtra 411051, India.
Contact: +919607195908