According to a research report "Lease Management Market by Component (Solutions and Services), End User (Housing, Corporate, and Property Managers), Deployment Mode, Organization Size, Vertical (Real Estate, Retail and Ecommerce, and BFSI), and Region - Global Forecast to 2025" published by MarketsandMarkets, the Lease management market size is projected to grow from USD 4.4 billion in 2020 to USD 5.9 billion by 2025, at a CAGR of 5.9% during the forecast period. The demand for lease management is driven by the Increasing demand for SaaS model for effective management of lease, Increasing demand for smart building projects to efficiently manage lease, and Emerging technologies, such as IoT, AI, and mobility, for real-time data analysis.
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Driver: Increasing demand for SaaS model for
effective management of lease
The advent of cloud
technology is one of the major breakthroughs in the software industry. This
technology affects the way software applications are run and delivered to
clients. The shifting to the cloud has enabled software developers to focus
more on the technology aspect of the lease management software while
outsourcing the lease management aspect to cloud service providers. The SaaS
software enables the user to pay per use and cancel services whenever they
want. The software enables the big multifamily real estate organizations to
easily integrate different kinds of software across the portfolio.
The SaaS model is
instrumental in supporting multi-vendor software compatibility with legacy
systems. SaaS platforms are allowing real estate managers to integrate their
lease management software with advanced payment solutions for easy and seamless
transactions. These platforms enable efficient energy utilization, easy process
integration, and lease administration management. Owing to the aforementioned
benefits, a large number of organizations are increasingly using the cloud platform
for their daily needs. The deployment of SaaS-based solutions has helped
several organizations meet the complex lease management challenges. Hence, the
increasing adoption of cloud-based platforms is driving the growth of the lease
management market globally.
Opportunity: Emerging technologies, such as
IoT, AI, and mobility, for real-time data analysis
Currently, the market is gaining
momentum around technologies, such as Internet of Things (IoT), advanced
analytics, cutting-edge new sensors, mobility, SaaS, and new development
environments, enabling more demand for enterprise integration than ever before,
which, in turn, is impacting the deployment of the lease management software
across real estate firms. Lease management software providers offer integrated
solutions so that users can connect over social media, impacting project
collaboration and space utilization. The lease management software is able to
support device data from sensors, meters, and smartphones, thereby driving
operations, decisions, and facilities automation. Unlike traditional analytic
tools, the lease management software is already integrated with the Real Estate
Financial Modeling (REFM) business process as well as is pre-configured for
business use. This solution is able to offer real-time analytics, predictive
analytics, and newly emerging cognitive analytics and presence analytics.
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North
America to hold the largest market size during the forecast period
The North American lease management market is already
mature for lease management, and a significant number of new installations of
lease management and upgrade of the existing data center infrastructure systems
have taken place to date. Currently, the United States (US) holds the highest
share in the lease management market as it is home to large telecom giants,
well-established suppliers, as well as end-user industries that continuously
adapt to newer technologies for improved business productivity and work
efficiency.
Market
Players:
Market players profiled in this report 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), RAAMP (US).
These players offer various lease management solutions to cater to the demands
and needs of the market. Major growth strategies adopted by the players include
partnerships, acquisitions, collaborations and agreements, and new product
launches/product enhancements.
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