Lease Management Market Expected to Experience Attractive Growth through 2025
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 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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