Lease Management Market Share, Size, Trends, Industry Analysis Report, By Platform (Software, Services), By Deployment (Cloud, On-premise), By Application (Commercial, Residential, Industrial), By Organization Size (Large Organizations , Small & Medium Organizations), By Region; Segment Forecast, 2021 - 2028
- Published Date:Oct-2021
- Pages: 111
- Format: PDF
- Report ID: PM2035
- Base Year: 2020
- Historical Data: 2016 - 2019
Report Outlook
The global lease management market was valued at USD 4.0 billion in 2020 and is expected to grow at a CAGR of 6.0% during forecast period. The market demand is driven owing to the factors such as the growing adoption of the SaaS models for lease management. It offers various features such as combinations with additional superior solutions, cloud-based solutions, payment gateways, etc., with a simple process. In addition, the increasing number of smart building projects coupled with the rising requirements for real-time data analysis such as the cloud, artificial intelligence (AI), and internet of things (IoT) are the other prominent factors contributing towards the market development in the forecasting years.
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The outbreak of the COVID-19 pandemic affects the global market in various aspects as it leads the consumers to shift towards the cloud-based solution in contrast to the on-premise deployment solution. Various companies are considering opting for the virtual workplace due to the several government obligations & lockdown. This may fuel the penetration of technologies such as lease management solutions for carry-out their business operations in leases management. It facilitates real estate agents and associated property managers for tracking all information regarding data and management. Hence, it positively influences the market demand for lease management in the global market.
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Industry Dynamics
Growth Drivers
Increasing penetration of SaaS models for proficient lease management act as a major catalyst in the market growth. The introduction of cloud-based technology leads the developers to focus on developing lease management software. SaaS model allows the consumers for paying to per unit usage and terminates service at any time.
This enables diverse real estate associations to incorporate their lease management software with developed payment solutions. This platform facilitates competent utilization of energy, management of lease administration, and a simple integration process. In this context, various associations are opting for cloud-based platforms for managing their information.
The utilization of SaaS-based solutions supports several organizations in solving their challenges regarding lease management. For instance, in April 2020, a digital leasing platform company-Swivel, Inc. declared its SaaS-based leasing application for aiding landlords and leasing players in working digitally and maintaining lease momentum. Therefore, the rising adoption of cloud-based solutions and launches of SaaS models is attributed to the global market growth in the near future.
Report Segmentation
The market is primarily segmented on the basis of platform, deployment, application, organizational size and region.
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By Platform |
By Deployment |
By Application |
By Organizational Size |
By Region |
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Insight by Application
Commercial segment is recorded with the largest revenue share in 2020 and is expected to lead the market in the forecasting years. The growing need for leasing commercial properties by numerous industries such as retail & manufacturing, education, hospitality, and logistics are contributing to the market growth. In addition, the segment growth is also attributed to the factors such as increasing industrialization and urbanization across the globe, mainly in major emerging countries such as India, China, Brazil, South Africa, and others, which are demanding more lease management solutions.
The residential segment is projected as the second leading segment, followed by the commercial segment. Growing market demand for the retail spaces by using house lobbies or spaces and the rising number of house projects is the major catalyzing factor for the segment growth. In addition, the constant growth of population needs more residential spaces, which also accelerates the segment development.
Insight by Organizational Size
Based on the organizational size, the large organization segment accounts for the largest revenue share due to the increasing market demand for lease management solutions for efficient management of leasing portfolio coupled with the smooth flow of working operations. Furthermore, major companies depend on software for the management of leases and handling the credit accounts with SMEs, boosting the market growth.
The small and medium segment is expected to show the highest CAGR in the near future. This is due to the growing requirements for fulfilling the varying lease agreement standards and rising complications for continuing leasing procedure, as well as better management of risks, lower managing & compliance costs, enhancing and maintaining the efficiency of the SMEs. Thereby, these factors are creating lucrative growth for the market growth.
Geographic Overview
Geographically, North America has the highest shares in the global market in 2020 and is likely to dominate the lease management market over the upcoming scenario. Major factor for the region's dominance is its early implementation of technologies for lease management. The region has well-established dealers, big telecom giants, and diverse industries that constantly choose novel technologies to enhance their business efficiency and productivity. The major players are targeting developing the lease management software for meeting the growing demand drives the regional lease management market in the upcoming scenario.
Moreover, Asia Pacific is expected to grow at the highest CAGR across the globe in the coming years. Factors such as the increasing number of projects for the smart city development propelled the market demand for the smart building as well as increasing industrialization progressions in the region, attributing to the region’s growth.
In addition, product launch in the market also fuels the development of the regional lease management market. For instance, in July 2020, MRI software declared the launch of product innovations and key solutions in the Asia Pacific. The company announcement reflects the launch of MRI@Work and MRI Living, which covers inclusive solutions for commercial and residential property management. Thus, these factors are gaining significant prominence across the region.
Competitive Landscape
Some of the major players of lease management market include Accruent, Nakisa Inc., Amtdirect , Buildium , CoStar Realty Information, Hemlane , IBM Corporation, LeaseAccelerator, LLC , MRI Software, Nakisa, Odessa, Oracle, Property Works, Raamp, RealPage Inc., Rentec Direct , SAP, Spacebase, Yardi Systems Inc.
Lease Management Market Report Scope
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Report Attributes |
Details |
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Market size value in 2020 |
USD 4.00 billion |
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Revenue forecast in 2028 |
USD 5.66 billion |
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CAGR |
6% from 2021 - 2028 |
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Base year |
2020 |
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Historical data |
2016 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Segments covered |
By Platform, By Deployment, By Application, By Organizational Size, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Accruent, Nakisa Inc., Amtdirect , Buildium , CoStar Realty Information, Hemlane , IBM Corporation, LeaseAccelerator, LLC , MRI Software, Nakisa, Odessa, Oracle, Property Works, Raamp, RealPage Inc., Rentec Direct , SAP, Spacebase, Yardi Systems Inc. |
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