Global Lease Management Market Expected to See Progressive Growth by 2031, due to the Increasing Need for Software as a Service (SaaS) Model in Lease Management |[280-Pages] Study by Research Dive
The global lease management market is expected to witness prominent growth by 2031, owing to the growing need for the software-as-a-service model in lease management worldwide. Regionally, the Europe region is expected to dominate the market
NEW YORK, Feb. 16, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Lease Management Market by Component (Solution and Services), Deployment Mode (Cloud and On-premises), Enterprise Size (Small & Medium and Large), End-use Industry (Retail, Education, Government, Manufacturing, And Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2031".
According to the report, the global lease management market is envisioned to garner $8,990.6 million in revenue and grow at a CAGR of 6.9% throughout the estimated period from 2022 to 2031.
Dynamics of the Lease Management Market
With the increasing need for the software-as-a-service (SaaS) model by leading asset-based firms in lease management, the global lease management market is expected to experience a remarkable growth during the forecast timeframe. Besides, the growing demand for smart building projects is further expected to foster the growth of the market over the analysis period. Moreover, the increasing adoption of cutting-edge technologies such as the Internet of Things (IoT), in lease management services is predicted to create extensive growth opportunities for the market during the estimated period. However, the increased cost of investment for the installation of lease management technology may hinder the growth of the market throughout the analysis period.
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Covid-19 Impact on the Lease Management Market
Though the outbreak of the Covid-19 pandemic has devastated various other industries, it has had a significant impact on the lease management market. This is mainly because many consumers have started adopting cloud-based solutions over on-premises deployment during the pandemic period. In addition, due to stringent lockdowns and government regulations, many businesses have started switching to a virtual office and adopting numerous technologies to carry out commercial activities. All these factors have inclined the growth of the market during the period of crisis.
Segments of the Market
The report has divided the lease management market into segments based on component, deployment, enterprise size, end-use industry, and region.
- By component, the solution sub-segment is predicted to be the most productive and is expected to hold the largest share of the market over the estimated period. The solution segment is important for the lease management system because it keeps the record efficiently, which is expected to bolster the growth of the market sub-segment during the analysis timeframe.
- By deployment, the cloud sub-segment is expected to be the most lucrative and is projected to hold the highest share of the market during the forecast timeframe. The advantages of cloud installations along with economy of scale, real-time access to leasing data, automation, and other features are the factors expected to upsurge the growth of the market sub-segment throughout the estimated period.
- By enterprise size, the large enterprises sub-segment is predicted to be most beneficial and is expected to hold the maximum share of the market over the forecast period. The increasing demand for lease management from large enterprises for the professional management of their leasing portfolios is expected to augment the growth of the market during the estimated timeframe.
- By end-use industry, the manufacturing sub-segment is expected to be profitable and is predicted to have the fastest growth during the analysis timeframe. The increasing reliance of manufacturing sectors heavily on contracts and leases with all dealers is expected to fuel the growth of the market sub-segment over the forecast timeframe.
- By region, the Europe region of the lease management market is predicted to dominate the market throughout the estimated timeframe. The strong existence of several businesses and the rising development of cutting-edge leasing management software by leading firms in this region are expected to drive the regional growth of the market during the analysis timeframe.
Key Players of the Market
The major players of the lease management market include
- Nakisa
- Oracle Corporation
- RealPage, Inc.
- Trimble Inc.
- IBM
- FORTUNE Media IP Limited
- Innolux Corporation
- CoStar Group
- SAP
- Lease Accelerator, Inc.
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
For instance, in June 2022, CoStar Group, a leading Washington, DC-based provider of information, analytics and marketing services announced the launch of "Citysnap", the first-ever consumer-facing search website and mobile app in conjunction with the REBNY. Citysnap would help New York City home searchers and real estate professionals with a search portal and app that would feature accurate, up-to-date, and comprehensive listings that could further help them with a powerful new tool in the search for both residential rentals and properties for sale.
Further, the report also summarizes other crucial aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Lease Management Market:
- What is the Importance of Lease Management and How to Improve the Practices?
- Implementing the Right Lease Management Software can Benefit your Company, Here's how
- Global Lease Management Market Predicted to Witness Striking Growth with the Acquisitions Like that of Trimble by MRI Software
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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