Global Lease Management Market Size To Exceed USD 10.8 Billion By 2032 | CAGR of 7.1%
SPHERICAL INSIGHTS LLP
8 min read
SPHERICAL INSIGHTS LLP
The Global Lease Management Market Size was valued at USD 5.4 Billion in 2022 and the Worldwide Lease Management Market is expected to reach USD 10.8 Billion by 2032, according to a research report published by Spherical Insights & Consulting. 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 Other Key Vendors.
New York, United States, Dec. 22, 2023 (GLOBE NEWSWIRE) -- The Lease Management Market Size is to Grow from USD 5.4 Billion in 2022 to USD 10.8 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.1% during the projected period. Lease management, which includes the day-to-day execution of responsibilities relevant to a company's lease portfolio, is another term for lease management. Lease management entails a variety of tasks such as document management, reporting, stakeholder coordination, and an abundance of administrative duties.
Another word for lease management is lease administration, which encompasses the day-to-day execution of tasks associated with a company's lease portfolio. Document management, reporting, stakeholder collaboration, and a range of administrative activities are all part of lease management. Property and equipment obligations must be monitored, informed on, and optimized by lease administrators. The growing demand for Software as a Service (SaaS) models in lease management is projected to propel the lease management market further. The SaaS model is critical for providing multi-vendor software compatibility with legacy systems. SaaS platforms allow for efficient energy consumption, simple process integration, and lease maintenance management. Lease management allows for the monitoring of business performance on a daily, weekly, and monthly basis. Increased investment expenses for establishing lease management technologies are expected to restrain the lease management market's growth. The cost of deploying lease management software in a business is extremely high.
COVID-19 Impact The COVID-19 pandemic had a huge impact on the global economy, resulting in recession-like conditions all around the world. However, deliberate breakthroughs and continuous vaccination efforts are allowing economies to gradually recover, which may lead to more leasing and investments in leasing management solutions.
Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on the "Global Lease Management Market Size, Share, and COVID-19 Impact Analysis, By Component (Solution, Services), By Deployment Mode (Cloud, On-premise), By Enterprise Size (SMEs, Large Enterprises), By End User (Retail, Education, Government, Manufacturing, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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 corporations benefit from leasing management to ensure that corporate operations run smoothly. The key driver for the market during the projection period is likely to be an increase in the use of lease management by large businesses, as well as an increase in demand from these businesses for professional administration of their leasing portfolios. Moreover, several of the larger consulting firms use software to manage leases and credit accounts with smaller enterprises. Because of its expanding demand and adoption rates, this software benefits medium-sized businesses.
The cloudsegment is witnessing the fastest CAGR growth over the forecast period. Based on the 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. Consumers' preference for web-based leasing services over traditional on-premise lease management can be attributed to the cloud segment's fastest development potential. Moreover, the benefits of cloud installations, including flexibility, cost-efficiency, automation, real-time access to leasing data, and other services, are increasing demand for cloud solutions. Software licenses, maintenance and support services, updates, support, and daily backups are also included in monthly plans.
The solution segment is expected to hold substantial CAGR growth of the global lease managementmarket during the forecast period Based on the 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 rising installation of new lease management systems, which require underlying servers to ensure optimal facility performance, as well as the growing need for upgrades and maintenance of existing systems, are driving growth in these types.
The manufacturing segment accounted for the largest revenue share over the forecast period. Based on 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 widely used in manufacturing units because the manufacturing industry depends on leases and contracts with all dealers and all transactions must be accurately recorded. These are expected to be the primary drivers driving the size of the lease management market over the forecast period. Inquire Before Buying This Research Report: https://www.sphericalinsights.com/inquiry-before-buying/2844
North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 33.8% market share over the forecast period. It is related to the region's early adoption of lease management systems. The North American lease management market is well-established, with numerous new lease management installations and modifications to existing data center infrastructure systems executed to date. As a result of the existence of large telecom giants, well-established suppliers, and end-user industries that constantly embrace emerging technologies for greater company productivity and work efficiency, the United States (US) presently owns the largest share of the leasing management industry. During the projected period, the Asia-Pacific market is expected to develop at the quickest CAGR. Factors such as rising industrialization and a growth in the number of smart city initiatives are driving up the need for smart buildings in the region. This is expected to propel market growth in Asia Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Lease Management Market include 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 among others.
In February 2022, RealPage, Inc., an American international firm that provides property management software for the multifamily, commercial, single-family, and vacation rental housing industries, announced collaboration with Measurabl, Inc., the world's widely used ESG solution for real estate. With this collaboration, the organizations anticipated to work with owners of commercial, senior, academic, multifamily, and other real estate with technology integration, professional services, and big data analytics in meeting their sustainability goals and mandates.
Market Segment 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
Solution
Services
Lease Management Market, Deployment Mode Analysis
Cloud
On-premise
Lease Management Market, Enterprise Size Analysis
SMEs
Large Enterprises
Lease Management Market, End Users Analysis
Retail
Education
Government
Manufacturing
Others
Lease Management Market, Regional Analysis
North America
US
Canada
Mexico
Europe
Germany
Uk
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of the Middle East & Africa
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Spherical Insights& Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
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