The global lease management market is expected to grow from USD 4,422 million in 2020 to USD 5,898 million by 2025, at a CAGR of 5.9% during the forecast period.
Lease management helps real estate professionals deal with the entire life cycle of leasing a home or a commercial property. Real estate professionals can utilize this software to market homes to prospective tenants. Once a tenant is found, the software can assist in the application process and often has tools, such as electronic signatures, to facilitate security to the lease agreement process.
The software is often equipped with a tenant interface, so that tenants can easily log on and pay rent, request maintenance, or check the terms of their agreement. This software is incredibly useful for real estate professionals managing multiple properties located at different locations because it often comes equipped with accounting tools and monitoring tools to assure tenants stay on top of their rent payments. An asset can be building (commercial or residential), land, space, vehicle, equipment, and project that can be given on lease to other enterprises or businesses.
The need for modernizing IT infrastructure to achieve agility, scalability, and flexibility at scale to drive the growth of the global lease management market
The lease management market is expected to grow at a fast pace, owing to the Increasing demand for smart building projects to efficiently manage lease and Emerging technologies, such as IoT, AI, and mobility, for real-time data analysis.
Corporate segment to hold a larger market size in 2020
The end user segment is segmented as housing, corporates, and property managers. The corporates segment is expected to hold largest market size. The corporate segment covers real estate buildings and spaces, hotels, educational institutes, and government lands and buildings. Corporate assets need to manage several departments, such as maintenance, human resources, accounting and payroll, and business operations. For managing these departments and their business operations, corporates adopt the lease management solution and services.
By vertical, real estate vertical to register the largest market size during the forecast period
The real estate vertical is expected to hold the largest market size in the lease management market. Number of construction sites are running so property managers do not just manage one or two properties but a lot of properties at different locations in or out of the city. Lease management solutions help property managers manage the leasing processes.
Asia-Pacific (APAC) to register the highest growth rate during the forecast period
The APAC lease management market is experiencing slashing IT budgets and the growing IT infrastructures across organizations, which is encouraging the organizations in the region to adopt lease management solutions for streamlining their lease processes. The major countries to witness high growth rates in this region include Japan and China among others.
Increasing Demand for SaaS Model for Effective Management of Lease
Growing Trend of Workplace Mobility Due to COVID-19 Pandemic
Increasing Demand for Smart Building Projects to Efficiently Manage Lease
Budget Constraints for Implementation of Advanced Technological Solutions
Emerging Technologies, such as IoT, AI, and Mobility, for Real-Time Data Analysis
Rising Demand for Outsourcing Services
Integration of Lease Management Software With Legacy Systems
Lack of Technical Expertise and Skills
Case Study 1: Noni B
Case Study 2: Global Paper Products Manufacturing Company
Case Study 3: Commercial Property Partners (CPP) LLP