Press release
Leasing Automation Software Market Growth, Trends, Analysis Report And Forecast To 2033
Leasing Automation Software Market
The leasing automation software market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to digital transformation, remote work and mobility, sustainability and ESG reporting, scalability and flexibility, and artificial intelligence and automation. Major trends in the forecast period include the adoption of cloud-based solutions, enhanced integration capabilities, mobile accessibility, AI-driven lease negotiation assistance, and flexibility in lease structures.
Market Overview -
Leasing automation software refers to a digital system intended to streamline and automate different areas of the leasing process, such as lease origination, documentation, billing, management, and renewal. It is used to streamline and speed up lease-related activities, eliminating manual effort, errors, and improving overall operational efficiency.
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Increasing Adoption Of Cloud-Based Solutions Fuels The Leasing Automation Software Market
The increasing adoption of cloud-based solutions will propel the growth of the leasing automation software market going forward. Cloud-based solutions refer to software or services that are hosted, managed, and accessed remotely over the internet instead of locally on a user's device or on-premises servers. The increasing adoption of cloud-based solutions is on the rise due to their ability to deliver scalability, cost efficiency, and reliability, enabling organizations to accelerate digital transformation. Cloud-based solutions enhance leasing automation software by providing scalable infrastructure, remote access, real-time data management, streamlining processes, and improving efficiency. For instance, in December 2023, according to the European Union (EU), a Belgium-based governing body, the adoption of cloud-based solutions in 2023 in the European Union increased by 4.2%, with 45.2% of enterprises purchasing cloud computing services, indicating a significant surge compared to 2021. Therefore, the increasing adoption of cloud-based solutions is driving the growth of the leasing automation software market.
Competitive Landscape -
Major companies operating in the leasing automation software market are International Business Machines Corporation, Oracle Corporation, SAP SE, Trimble Inc., RealPage Inc., LeasePlan Corporation N.V., Yardi Systems Inc., AppFolio Inc., CoStar Group Inc., MRI Software LLC, LeasePilot Inc., Accruent LLC, Cassiopae S.A.S., LeaseQuery LLC, Visual Lease Services Inc., LeaseAccelerator Inc., Re-Leased Limited, Automatic Labs Inc., Milestone Aviation Group Limited, Nomos One Limited, DealSumm Limited, FMIS Software
Innovative Leasing Automation Solutions Revolutionizing Property Management Industry
Major companies operating in the leasing automation software market are developing innovative leasing automation solutions to enhance the efficiency and effectiveness of property management companies' leasing processes. It streamlines leasing processes through digital tools and software platforms. For instance, in August 2023, VERO, a US-based modern screening and leasing platform, launched VERO1, the first centralized leasing tool designed to streamline and automate the rental application process for enterprise owners and operators. VERO1 uses augmented artificial intelligence and a specialized team of analysts to deliver decision-ready applications, with the goal of making the enterprise application management process ten times more efficient and returning critical time and energy to understaffed teams. This platform speeds up lease decisions, increases occupancy rates, and improves rent collection rates by giving validated data and ready-to-decision applications to operators, thereby revolutionizing the leasing process for property managers and operators.
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Key Segments -
The leasing automation software market covered in this report is segmented -
1) By Platform: Software, Services
2) By Deployment Type: Cloud-Based, Web Based
3) By Application: Large Enterprises, Small And Medium Enterprises (SMEs)
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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