Lease Management Market

Global Lease Management Market Size (2024 to 2029)

The global lease management market is predicted to reach USD 4.93 billion in 2024 and USD 6.57 billion in 2029, growing at a CAGR of 5.90% during the forecast period.

Leasing operations must comply with these regulations to comply with their license agreement and actively invest to protect their operations against compliance risks. This approach also focuses on improving productivity through lease management software. In recent years, the solutions provided by players in the lease management software market have improved significantly, moving from an information repository to a comprehensive management software with analytical capabilities.  Leasing companies and individuals creating real estate for leasing purposes should look for solutions that help them better manage their real estate. Solutions focused on improving leasing providers' existing prospects are expected to benefit end users. Market players have invested in improving the capabilities of offerings to help end users maintain an optimal rental operation.

Global Lease Management Market Drivers:

The demand for the lease management market is driven by the growing demand for a SaaS model for efficient lease management, the increasing demand for intelligent building projects to manage leases effectively, and emerging technologies, such as IoT, AI, and mobility, for real-time data analytics. The advent of cloud technology is one of the significant advancements in the software industry. This technology affect the way software applications are run and delivered to customers. Sellers charge customers an additional amount. Since many organizations face financial challenges, spending on lease management software would put an additional financial burden on them. Therefore, budget constraints are hampering the growth of the overall lease management market.

The high cost of implementing these solutions and the need for regular maintenance and updates create a problem for property managers.  The market's development is mainly attributed to the growing desire of organizations to achieve optimized workload management with more agility, speed, and security without having to worry about the hassles involved, such as training, integration, deployment, and support and maintenance. The real estate vertical is expected to have the major market size in the lease management market. The number of construction sites is increasing, so property managers manage not just one or two properties but many within or outside the city. Lease Management solutions help property managers manage the rental process.

Impact of COVID-19 on the global Lease Management Market:

The COVID-19 pandemic has spread worldwide; most people prefer working from home rather than a local office. Therefore, it requires mobility regarding access to office resources and data. Some organizations are considering using virtual workplaces for their employees to minimize their physical infrastructure needs, which would further help them be more flexible and use office space better. To maintain an uninterrupted flow and speed of work and manage this workforce, various organizations seek management solutions, such as workplace administration, project management, and other integrated facilities management services. These solutions help associate property managers and real estate agents track all lease-related data they manage and all associated maintenance work. Therefore, the evolving trend of professional mobility is driving the development of the lease management market.

REPORT COVERAGE:

This research report on the global lease management market has been segmented and sub-segmented based on the component, deployment mode, enterprise size, end-user, vertical, and region.

Global Lease Management Market - By Component:

• Solutions
• Services

The solutions segment is expected to contribute primarily to the lease management market, while the services segment will experience a higher growth rate over the forecast period. This growth in these segments is supported by growing new rental management facilities that require underlying servers to keep facilities running smoothly and the increasing need for upgrades and maintenance of existing solutions.

Global Lease Management Market - By Deployment Mode:

• Cloud
• On-Premises

Global Lease Management Market - By Enterprise Size:

• Large Enterprises
• Small and Medium-Sized Enterprises (SMEs)

The small and medium-sized enterprise (SME) segment is expected to grow more, contributing to the market. This growth of SMEs is supported by implementing the lease management solution and services, which should result in better risk mitigation, lower administrative costs, lower compliance costs, business results, support, and business efficiency improvement for SMEs.

Global Lease Management Market - By End-User:

• Housing
• Corporate
• Property Managers

Global Lease Management Market - By Vertical:

• Real Estate
• Retail and E-Commerce
• BFSI
• Others

Global Lease Management Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The North American lease management market is expanding at a prominent rate, and many new lease management installations and upgrades have been made to existing data center infrastructure systems. Currently, the United States has the highest share of the lease management market, as it is home to large telecommunications giants, established providers, and end-user industries constantly adapting to new technologies to improve productivity and work in companies.

KEY MARKET PARTICIPANTS:

The major players operating in global lease management market include Accruent (US), IBM (US), Oracle (US), RealPage (US), SAP (Germany), Trimble (US), AppFolio (US), Odessa (US), CoStar Group (US), Nakisa (Canada), LeaseAccelerator (US), LeaseQuery (Singapore), Spacebase (US), and RAAMP (US).

RECENT HAPPENINGS IN THE MARKET:

• In April 2020, IBM launched innovative technologies powered by artificial intelligence to help healthcare and research communities accelerate the discovery of medical knowledge and treatments for COVID-19. This tool uses advanced artificial intelligence and allows researchers to extract critical information from COVID-19 quickly.
• In February 2019, Oracle announced an update to its e-commerce suite that supports changes to IFRS16 and ASC842 accounting standards for equipment leases. The new functionality would help users manage accounting and new lease information, including the Lease Analysis Report, Lease Details Report, Portfolio Details Report, and the portfolio summary report.
• In December 2019, RealPage acquired Buildium, a leading provider of SaaS property management solutions. The acquisition would integrate RealPage's capabilities into the Buildium platform and rapidly increase the value the company delivers to customers. This strategy would help the company to evolve and improve the platform for SMEs in the real estate sector.
• In June 2020, AppFolio announced that it would improve its Property Manager product by increasing its capabilities in light of the evolving needs of its clients, given the unique challenges posed by the COVID-19 crisis. The enhanced features provide relief to residents and homeowners and give property management professionals greater visibility into how much is owed and when to pay back.