Lease Management Market Is Likely To Up Demand At A USD 6.35 Billion By 2028

 San Francisco, 5 Oct 2021: The Report Lease Management Market Size, Share & Trends Analysis Report By Platform (Software, Services), By Deployment (Cloud, On-premise), By Application, By Organization Size, By Region, And Segment Forecasts, 2021 - 2028

The global lease management market size is expected to reach USD 6.35 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.9% from 2021 to 2028. The increase in demand for the SaaS model for better lease management is expected to drive the market. The SaaS model offers users features, such as integration with other advanced solutions including payment gateways, cloud-based solutions, and empowering businesses through more seamless and easier processes.

Lease management, also known as lease administration, involves the execution and organization of the everyday tasks of an organization's lease portfolio. Lease management encompasses tasks and processes, such as document management, reporting, coordinating among stakeholders, and numerous other administrative tasks.

The leasing industry has witnessed significant changes in the past few years owing to technological disruptions in the real estate industry. Additionally, the COVID-19 pandemic has impacted the market in numerous ways, leading to a notable shift from the on-premise deployment approach to the increasing reliance on cloud-based solutions. Workplace mobility is a crucial factor behind the increased demand for lease management solutions and services during this pandemic.

The rising number of smart building projects is also driving the demand for lease management solutions as property managers seek advanced solutions to manage leases proficiently. Furthermore, the increased need for real-time data analysis by leveraging evolving technologies, such as artificial intelligence, the internet of things (IoT), and the cloud, is expected to create numerous growth opportunities for market players.

Lease management platform providers are investing in research & development activities for introducing innovations in the real estate and leasing industry. Additionally, the need to keep up with the constantly changing lease obligations is driving innovations in lease management solutions and processes.

Access Research Report of Lease Management Market @ https://www.grandviewresearch.com/industry-analysis/lease-management-market-report

Lease Management Market Report Highlights

• By platform, the software segment accounted for the largest revenue share in 2020 and is expected to maintain its lead over the forecast period. This can be attributed to the growing complexities in lease obligations, which drive the demand for sophisticated leasing management systems for reporting. The services segment is anticipated to register the highest CAGR during the forecast period
• In terms of deployment, the cloud segment accounted for the largest revenue share in 2020 and is also likely to register the highest growth rate over the forecast period. This is attributed to the rising popularity of the remote work culture and the need for centralized access to critical leasing information
• North America dominated the market in 2020 owing to the factors such as the existence of a large number of market players and telecom giants, such as Verizon, US Cellular, AT&T, and T-Mobile US, in the region

List of Key Players of Lease Management Market

• Accruent
• CoStar Realty Information, Inc.
• International Business Machines Corporation
• LeaseAccelerator, Inc.
• MRI Software LLC
• Nakisa Inc.
• Odessa
• Oracle
• SAP
• RealPage, Inc.
• Yardi Systems Inc.

Access Press Release of Lease Management Market @ https://www.grandviewresearch.com/press-release/global-lease-management-market