Allied Market Research published a new report, titled, ” Lease Management Market Projected to Reach USD 9.0 Billion by 2031 Globally .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global lease management market was valued at USD 4.6 billion in 2021, and is projected to reach USD 9 billion by 2031, growing at a CAGR of 6.9% from 2022 to 2031.
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Driving Factors Lease Management Market
The rise in demand for secured transactions, growth in cyber security, and advancements in IT sectors have led to an increase in the demand for lease management, contributing to the lease management market growth in the upcoming years. Lease management minimizes the complexities involved in managing real estate leases with ease of data tracking, maintenance monitoring, property management, and others.
Market Segmentation Lease Management Market
The global lease management market is segmented on the basis of component, deployment mode, enterprise size, end-use industry, and region. By component, the market is sub-segmented into solutions and services. By deployment, the market is classified into on-premise and cloud. By enterprise, the market is classified into large enterprises and small & medium enterprises. By end-use, the market is classified into retail, education, government, manufacturing, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The lease management market is segmented into Component, Deployment Mode, Enterprise Size and End-use Industry.
Key Players Lease Management Market
The key players profiled in this report include Lease Accelerator, Inc, CoStar Group, FORTUNE Media IP Limited, Trimble Inc., Nakisa, RealPage, Inc., Oracle Corporation, IBM, Innolux Corporation, and SAP. These players have adopted various strategies to increase their market penetration and strengthen their position in the storage area network industry.
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Based on enterprise size, the large segment contributed to the highest share in 2021, grabbing nearly two-thirds of the global lease management market share and would dominate in terms of revenue during the forecast period. However, the small & medium segment would witness the fastest CAGR of 7.31% during the forecast period.
Based on end-use industry, the manufacturing segment was the largest in 2021, grabbing nearly one-third of the global lease management market share and would dominate in terms of revenue during the forecast period. However, the retail segment is likely to exhibit the fastest CAGR of 7.84% during the forecast period. The report also offers an analysis of education, government, and others segments.
Based on region, the market in North America was the largest in 2021, accounting for nearly one-third of the global lease management market share. However, the market in Europe would maintain a progressive revenue growth during the forecast period. On the other hand, the market in Asia-Pacific is expected to manifest the highest CAGR of 7.56% from 2022 to 2031. The other region analyzed in the study include LAMEA.
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Covid-19 Scenario:
● The COVID-19 pandemic positively impacted the lease management market, as the lease management software can efficiently handle the complexities that are faced by real estate leases. It offers an end-to-end solution for managing the real estate data for better profitability and control.
● The travel restrictions and social distancing norms imposed during the pandemic streamlined the rental operations of commercial & residential property managers as well as tenants, owing to which the market gained popularity during the pandemic.
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