Software as a Service (SaaS) to Fuel the Growth of the Lease Management Market during the Forecast Period - Exclusive Report [202 pages] by Research Dive

NEW YORK, Oct. 14, 2020 /PRNewswire/ -- The Global Lease Management Market report published by Research Dive anticipates various factors of the market. According to the report, the lease management market is estimated to cross the USD 6,252.3 million mark by 2027, form substantial revenue of USD 3,721.6 million in 2019, with a CAGR of 6.7% in the forecast period. This report covers aspects like the current scenario and the future growth of the market. The report is prepared by experts after analyzing all the important factors affecting the growth of the market.

Key Insights of the Report

• An overall coverage of the market that includes definition, application areas, and advantages.
• All-inclusive insights about the market conditions and dynamics, statistical data, growth rate, revenue, market shares, and future predictions.
• Prominent market segments, drivers, limitations, and investment opportunities.
• Present state of the global and regional market from the perspective of companies, countries, and industries.
• Information on all the leading market players, current market trends and advances, Porter Five Analysis, SWOT analysis, and business strategies.

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Factors Impacting the Lease Management Market Growth

The lease management market growth is due to the excessive usage of cloud technology that includes software as a service (SaaS). This software grants access to varied platforms on the internet in fewer prices. The increasing demand for smart building projects is subjected to enhance the market growth. These all aspects are responsible for boosting the market.

However, dearth in awareness about the lease management software and inclined investment costs for the software implementation in the organizations will hamper the market growth. Furthermore, updating and maintaining the software at regular intervals can generate more expenses. These factors are the major restraints on the market.  

The COVID-19 Impact on the Lease Management Market

The novel coronavirus pandemic has surprisingly had a positive impact on the lease management market, unlike most other markets. Companies and businesses have adopted the work-from-home mode for operations during this time which has invariably bolstered the growth of this market. Lease management software have seen a rise in their adoption during this time for these very reasons.

Lease management assures smooth workflow and the property manager can keep a track of all essential data. All these factors are predicted to drive the global market during the time of the pandemic.

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Segment Analysis

The report divides the market into segment based on component, deployment mode, enterprise size, end use industry, and regional outlook.

Based on component, the report classifies the market into:

• Solution
• Services

Service Segment will be the most lucrative and is anticipated to rise from a substantial market size of USD 2,268.7 million in 2019 with a CAGR of 6.3% during the forecast period. The service segment provides end to end optimized results to the organization, business insights, and controls data efficiency. These facets are leading this segment's growth.

Based on deployment mode, the report segregates the market into:

• Cloud
• On premises

On premise segment is considered to garner the highest revenue and is estimated to surpass with a CAGR of 5.4% in the forecast period, from a significant market size of USD 2,002.9 million in the year 2019. The main reason for this segment's surge is enhanced security control over the external services and lower costs for the organizations.

Based on enterprise size, the report separates the market into:

• Small and Medium
• Large

Large enterprise size segment will generate maximum profits and is considered to grow with a CAGR of 5.8% during the forecast period, crossing the USD 2,199.3 million mark in the year 2019. Large enterprises require smooth operational work; hence the lease management software makes the functioning effortless. This is the major factor that is augmenting the market growth.

Based on end use industry, the report bifurcates the market into:

• Retail, Education
• Government
• Manufacturing

Manufacturing segment will generate significant revenue and harness CAGR of 6.3 % in the forecast period, from a considerable market size of USD 1,137.3 million in the year 2019. The lease management software is used in the manufacturing units as they work on the basis of contract and lease of the dealers. Beyond this, the lease management software ensures that all the transactions are monitored till the last detail. These traits are enhancing the market of this segment.

Regional Insights: North America Lease Management Market is predicted to create more growth opportunity for the investors in the estimated period

The lease management market is spread across the globe and is largely divided into the following regions:

• North America
• Europe
• Asia-Pacific
• LAMEA

North America region is estimated to expand business and will increase with a significant CAGR of 5.9% during the estimated forecast period, from a notable market size of USD 1,219.6 million in the year 2019. Several companies in the industry are taking roots in this region and investing in the operational flow. The usage of advanced lease management software by the companies' is driving the market growth. These are the major aspects that are boosting the market.

Quick Download Sample Report [70 pages] - To Reveal Detail Regional Insight

Top Key Players and Business Strategies

Some of the significant players that are taking the market forward are

1.  Lease Accelerator Inc.

2.  NAKISA

3.  CoStar Realty Information Inc.

4.  AppFolio Inc.

5.  Trimble Inc.

6.  RealPage Inc.

7.  Oracle Corporation

8.  SAP

9.  IBM.

The lease management market players are focusing on developing novel strategies such as advanced technical developments and merger and acquisition. These are considered as the effective strategies followed by the startups and the well-known business organizations.

The report summarizes various features of all the crucial players that are operative in the market such as current strategic moves, financial performance, product portfolio, developments and SWOT (strength, weakness, opportunities, and threats) scrutiny. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]

More about Lease Management:

What is the Importance of Lease Management and How to Improve the Practices?

Analyst Overview: Lease Management Industry to Gain Traction in the Coming Years Due to Growing Adoption of Lease Management Software

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