The global lease management market size is expected to reach USD 5.66 billion by 2028 according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market growth is witnessed by certain factors such as increasing demand for the SaaS lease management solutions; escalating projects of smart buildings around the globe are the major factors that foster the industry growth over the foreseen period. In addition, rising research and development activities for initiating innovations in the industry also drive the market. Furthermore, the widespread of COVID-19 also reflects a remarkable growth for cloud-based solutions, which, in turn, accelerates the demand for web-based rental management solutions across the globe.
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The market is gaining considerable growth by emerging technologies such as advanced analytics, artificial intelligence (AI), SaaS, and Internet of Things (IoT). These developments of technologies are driving the demand, mainly in real-estate companies.This software facilitates device information with the help of sensors, smartphones as well as meters. Thus, it assists decisions & operations and automation. This software is pre-configured for business use along incorporated with the Real Estate Financial Modeling (REFM) business process. This solution is competent to provide predictive analytics, existing and emerging analytics, and real-time analytics. Therefore, the development of technologies is contributing towards industry growth around the world.
Major participants such as 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. and Eurobank are some of the key players operating in the industry.
There are various vendors launching their new services. For instance, in February 2021, LeaseQuery publicizes the introduction of its LeaseManager solution. This solution helps in tracking payment & contracts, presents reporting and agreement collection, and offers visibility into rental data. In other words, it is a self-service solution for lessees and tenants.
Polaris Market Research has segmented the lease management market report on the basis of platform, deployment, application, organizational size and region:
Lease Management, Platform Outlook (Revenue – USD Billion, 2016 – 2028)
Lease Management, Deployment Outlook (Revenue – USD Billion, 2016 – 2028)
Lease Management, Application Outlook (Revenue – USD Billion, 2016 – 2028)
Lease Management, Organizational Size Outlook (Revenue – USD Billion, 2016 – 2028)
- Large Organizations
- Small & Medium Organizations
Lease Management, Regional Outlook (Revenue – USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa