Lease Management Market is Expected to Witness Significant Growth between 2020–2030

Lease management software or platform helps real estate executives to prepare, examine, and allocate lease and its relevant documentation. Lease management software provides a consolidated database that stores all information related to lease and enables end-users to efficiently manage lease outlays, prepare abstracts, and examines lease financial information.

Impact of Coronavirus (COVID-19) on the Lease Management Market

Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) negatively impacts the lease management market. Shutdown or closure of construction business due to social distancing is expected to result in a significant dip in the deployment of lease management for the year 2020 and 2021, which is expected to negatively impact the lease management market.

Increasing Focus on Adoption of SaaS Models Expected to Drive the Global Lease Management Market

Adoption of cloud technology is one of the significant innovations in the software industry. The shifting focus toward cloud has empowered various software developers to focus more on technological upgrades in terms of lease management solutions. SaaS (Software-as-a-Service) - based solutions enable end-users to cancel services at any time as well as pay per use based on their requirement. The SaaS model enables real estate enterprises to easily integrate different types of software or platforms across the leasing portfolio.

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The SaaS model also supports multi-vendor software compatibility along with legacy systems. The SaaS model allows real estate executives to integrate lease management platforms with advanced payment solutions for seamless & easy transactions. These platforms allow easy process integration, well-organized lease administration management, and effective energy utilization. Thus, large-size organizations are majorly focusing on the utilization of cloud platforms for their operational needs. The deployment of SaaS-based software helps numerous organizations to meet multifaceted lease management challenges.

The impact of this driver is expected to be high during the forecast period. Adoption of lease management is increasing across the globe, owing to increasing focus toward adoption of the SaaS model. This is expected to boost the global lease management market in the next few years.

Increasing Demand for Managed or Outsourced Services Expected to Hamper the Lease Management Market

As enterprises are progressing, difficulties related to tackling lease data are also growing. To resolve this issue, organizations need advanced technological solutions that includes cloud-based as well as AI-based solutions. However, managing these advanced solutions in-house might become a challenge for real-estate companies as these solutions entail a high cost for hiring technicians and spending on their training with regards to the software update them from time to time. Therefore, many real estate companies outsource these services to lease management service providers to save this cost.

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Thus, increasing demand for managed or outsourced services is expected to hamper the growth of the lease management market during the forecast period.

North America to Account for Major Share of the Global Lease Management Market
In terms of region, the global lease management market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
North America is anticipated to account for major share of the global lease management market during the forecast period due to increasing technological advancements in lease management. Europe is expected to follow North America in terms of share of the global lease management market from 2020 to 2030.
The market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to growing demand for smart building projects to proficiently manage lease, specifically in India, Japan, and China.

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Key Players Operating in the Global Lease Management Market Include:

CoStar Realty Information, Inc.
EbixCash Lending Solutions.
FM Systems, Inc.
IBM Corporation
Lease Harbor LLC.
LeaseAccelerator, Inc.
LeaseEagle
MRI Software, LLC
Odessa Technologies
Soft4Leasing
TMA Systems, LLC
Yardi Systems Inc.
Others

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