Global Lease Management Market Insights Forecasts to 2032
- The Global Lease Management Market Size was valued at USD 5.4 Billion in 2022.
- The Market is growing at a CAGR of 7.1% from 2022 to 2032.
- The Worldwide Lease Management Market is expected to reach USD 10.8 Billion by 2032.
- Asia Pacific is expected to grow the fastest during the forecast period.
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The Global Lease Management Market Size is expected to reach USD 10.8 Billion by 2032, at a CAGR of 7.1% during the forecast period 2022 to 2032.
Lease administration, which includes the day-to-day execution of responsibilities related to a company's lease portfolio, is another term for lease management. Lease management involves a variety of tasks such as document management, reporting, stakeholder coordination, and an assortment of administrative tasks. Lease administrators must keep track of report on, and optimize property and equipment obligations. This assists asset-based lending organizations in meeting compliance requirements, minimizing risks, and lowering costs. The lease management process begins with negotiations and progresses to renewals. Lease negotiating, lease accounting, and continuing lease tracking are all frequent lease management operations. Users can also configure notification settings to receive or send email notifications (to clients) when financial or legal agreements change, improving operational efficiency.
Global Lease Management Market Report Coverage
|Market Size in 2022:||USD 5.4 Bn|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||7.1%|
|022 – 2032 Value Projection:||USD 10.8 Bn|
|Historical Data for:||2020-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||140|
|Segments covered:||By Component, By Deployment Mode, By Enterprise Size, By End User and By Region.|
|Companies Covered:||IBM Corporation, Odessa, Oracle, Nakisa Inc., MRI Software, LLC, SAP, Accruent, CoStar Realty Information, Inc., LeaseAccelerator, LeaseQuery, LLC, MRI Software LLC, RealPage, Inc., Yardi Systems Inc., and Others.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The rising need for software as a service (SaaS) models in lease management is expected to drive the growth of the lease management market. The SaaS approach is essential in offering multi-vendor software compatibility with legacy systems. SaaS platforms enable effective energy usage, simple process integration, and lease maintenance management. Lease management enables daily, weekly, and monthly monitoring of business performance. The majority of software companies currently search for a way to run their products on the cloud. Businesses' use of SaaS models for cost-effective remote access is expected to drive growth in the global lease management market during the forecast period. Moreover, it is expected that growth in demand for smart building projects will be one of the primary drivers driving the global market during the forecast period.
Increased investment costs for installing lease management technology are anticipated to restrict the growth of the lease management market. The cost of implementing leasing management software in a company is quite substantial. Moreover, the expense of routine software maintenance and updating is likely to be a major impediment to the global leasing management market over the forecast period. As a result, leasing management software is out of reach for small and medium-sized firms and new businesses, which is projected to restrain market growth throughout the projection period.
By Enterprise Size Insights
The large enterprises segment dominates the market with the largest revenue share over the forecast period.
Based on the enterprise size, the global lease management market is classified into SMEs and large enterprises. Among these, the large enterprises segment is expected to hold the largest share of the lease management market during the forecast period. Large companies benefit from lease management to ensure an uninterrupted flow of business operations. During the forecast period, the main driver for the segment is expected to be a growth in the application of lease management by large businesses, as well as an increase in demand from these businesses for professional management of their leasing portfolios. Moreover, several of the larger consulting firms manage leases and credit accounts with smaller businesses using software. This software helps medium-sized organizations due to its rising demand and adoption rates.
By Deployment Mode Insights
The cloud segment is witnessing the fastest CAGR growth over the forecast period.
On the basis of deployment mode, the global lease management market is segmented into cloud and on-premise. Among these, the cloud segment is witnessing significant CAGR growth over the forecast period. The cloud segment's fastest growth potential can be attributed to consumers' preference for web-based leasing services over traditional on-premise lease management. Moreover, the advantages of cloud installations, including flexibility, cost-efficiency, automation, real-time access to leasing data, and other services, are driving up demand for cloud solutions. Monthly plans also include software licenses, maintenance and support services, updates, support, and daily backups. Because the solution is cloud-based and internet-based, there is no need for in-house servers or IT infrastructure, which saves energy and other expenses.
By Component Insights
The solution segment is expected to hold substantial CAGR growth of the global lease management market during the forecast period
Based on components, the global lease management market is segmented into solutions and services. Among these, the solutions segment holds substantial CAGR growth over the forecast period. The rise in the installation of new lease managements, which require underlying servers to enable proper facility performance, as well as the growing requirement for upgrades and maintenance of current systems, are driving growth in these types.
By End User Insights
The manufacturing segment accounted for the highest revenue share over the forecast period.
On the basis of end-users, the global lease management market is segmented into retail, education, government, manufacturing, and others. Among these, the manufacturing segment holds the market with the highest revenue share over the forecast period. Lease management software is commonly used in manufacturing units because the manufacturing industry depends on leases and contracts among all dealers and all transactions must be properly maintained. During the forecast period, these are projected to be the main drivers driving the size of the lease management market.
North America dominates the market with the largest market share over the forecast period.
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North America is dominating the market with more than 33.8% market share over the forecast period. It can be correlated to the region's early adoption of lease management technologies. The North American lease management market is already mature, with a significant amount of new lease management installations and upgrades to existing data center infrastructure systems completed to date. The United States (US) currently holds the largest share of the leasing management market due to the presence of large telecom giants, well-established suppliers, and end-user industries that constantly adapt to newer technologies for increased business productivity and work efficiency. During the forecasting period, the regional market is anticipated to be driven by an increase in investment by the majority of organizations to establish operational flow in the North American region. Companies are focusing on the development of more effective leasing management software.
Asia-Pacific market is expected to register the fastest CAGR growth rate during the forecast period. Factors such as rising industrialization and an increase in the number of smart city initiatives are boosting the region's need for smart buildings. This is projected to fuel market growth in this Asia Pacific region.
List of Key Market Players
- IBM Corporation
- Nakisa Inc.
- MRI Software, LLC
- CoStar Realty Information, Inc.
- LeaseQuery, LLC
- MRI Software LLC
- RealPage, Inc.
- Yardi Systems Inc.
Key Market Developments
- In April 2021, Trimble, a California-based industrial technology business altering the way the world works by delivering solutions, was acquired by MRI Software, a leading developer of innovative real estate software applications and hosted solutions. MRI Software added space scheduling, booking, and facilities management tools to its workplace management software, as well as accounting and administrative software for real estate owners and operators, with this acquisition.
- In January 2021, LeaseQuery LLC, a provider of customized lease accounting software, partnered with Microsoft Corporation to simplify difficult lease accounting compliance.
- In January 2021, MRI Software LLC, a provider of real estate and investment management software, acquired AMT Direct, a lease accounting and management software company, to manage its leases and deal with new lease accounting regulations.
This study forecasts revenue at global, regional, and country levels from 2022 to 2031. Spherical Insights has segmented the global lease management market based on the below-mentioned segments:
Lease Management Market, Component Analysis
Lease Management Market, Deployment Mode Analysis
Lease Management Market, Enterprise Size Analysis
- Large Enterprises
Lease Management Market, End Users Analysis
Lease Management Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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