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 according to report published by
MarketsandMarkets. 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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The solution segment to hold a larger market
size during the forecast period
The solution segment is
projected to contribute majorly to the lease management market among the types,
while the services segment is projected to witness a higher growth rate during
the forecast period. This growth these segments are supported by the rising
installations of new lease managements that require underlying servers for
enabling proper facility functionality along with growing need for upgrades and
maintenance of existing solutions
SMEs segment to grow with higher market size
during forecast period
The Small and Medium size
enterprises (SMEs) segment is expected to grow with higher rate contributing to
the market. This growth of SMEs is supported by the implementation of the lease
management solution, along with services, is expected to result in better risk
mitigation, reduced administrative overhead, reduced cost of compliance,
favorable business outcomes, and improved business efficiency for SMEs.
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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 systems, and a significant number of new
installations of lease management and upgrade of the existing lease management
solutions. 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 and services to cater to
the demands and needs of the market. Major growth strategies are adopted by the
players including acquisitions, partnerships, collaborations and agreements,
and new product launches/product enhancements.
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