Lease Management Industry Overview
The global lease management market size was valued at USD 4.01 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2028.
The rising need for effective lease management is fueling the demand for SaaS lease management solutions, thereby driving the market. The growth in the number of smart building projects across the globe is also resulting in an increased demand for lease management solutions as property managers seek advanced solutions to effectively manage leases. Moreover, the COVID-19 pandemic is resulting in an increased demand for workplace mobility solutions, thus driving the demand for web-based lease management solutions.
Gather more insights about the market drivers, restrains and growth of the Global Lease Management Market
However, budget limitations hinder the adoption of advanced solutions in most small and medium enterprises, which could negatively impact the market growth. Furthermore, the increased need for real-time data analysis by leveraging evolving technologies, like artificial intelligence, the internet of things (IoT), and the cloud, is anticipated to create numerous growth opportunities for market players.
Also known as lease administration, a lease management solution closely works with lease accounting and compliance processes. Integrated with automation capabilities, lease management helps organizations manage their lease documents, store and track lease information, and generate reports.
The ongoing COVID-19 pandemic has significantly affected the global economy, leading to a recession-like situation across the globe. However, the strategic unlocks and ongoing vaccination campaigns are allowing economies to steadily recover, which, in turn, could result in the increased leasing and investments in leasing management solutions.
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Lease Management Market Segmentation
Grand View Research has segmented the global lease management market on the basis of platform, deployment, application, organization size, and region:
Lease Management Platform Outlook (Revenue, USD Million, 2016 - 2028)
- Software
- Services
Lease Management Deployment Outlook (Revenue, USD Million, 2016 - 2028)
- On-premise
- Cloud
Lease Management Application Outlook (Revenue, USD Million, 2016 - 2028)
- Commercial
- Residential
- Industrial
Lease Management Organization Size Outlook (Revenue, USD Million, 2016 - 2028)
- Large Organizations
- Small & Medium Organizations
Lease Management Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- October 2020: LeaseAccelerator announced updates to its Lease Lifecycle Automation platform. With the new enhancements, the company aims to help users concentrate on critical business functions and attain automation in lease management operations.
Key Companies profiled:
Some prominent players in the global lease management market include:
- Accruent
- CoStar Realty Information, Inc.
- IBM Corporation
- LeaseAccelerator
- MRI Software, LLC
- Odessa
- Oracle
- SAP
- RealPage, Inc.
- Yardi Systems Inc.
- Nakisa Inc.
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