Lease Management Market Size, Share & Trends Analysis Report By Platform (Software, Services), By Deployment (Cloud, On-premise), By Application, By Organization Size, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global lease management market size was valued at USD 4.01 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2028. The rising need for effective lease management is fueling the demand for SaaS lease management solutions, thereby driving the market. The growth in the number of smart building projects across the globe is also resulting in an increased demand for lease management solutions as property managers seek advanced solutions to effectively manage leases. Moreover, the COVID-19 pandemic is resulting in an increased demand for workplace mobility solutions, thus driving the demand for web-based lease management solutions.

However, budget limitations hinder the adoption of advanced solutions in most small and medium enterprises, which could negatively impact the market growth. Furthermore, the increased need for real-time data analysis by leveraging evolving technologies, like artificial intelligence, the internet of things (IoT), and the cloud, is anticipated to create numerous growth opportunities for market players.

Also known as lease administration, a lease management solution closely works with lease accounting and compliance processes. Integrated with automation capabilities, lease management helps organizations manage their lease documents, store and track lease information, and generate reports.

The ongoing COVID-19 pandemic has significantly affected the global economy, leading to a recession-like situation across the globe. However, the strategic unlocks and ongoing vaccination campaigns are allowing economies to steadily recover, which, in turn, could result in the increased leasing and investments in leasing management solutions.

Deployment Insights

The cloud segment accounted for the largest revenue share of over 60.0% in 2020 and is projected to register the highest CAGR over the forecast period. The promising growth prospects of the cloud segment can be attributed to the shifting consumers’ preference from traditional on-premise lease management to web-based leasing services.

Moreover, the benefits associated with cloud deployments, such as flexibility, cost-efficiency, automation, real-time access to leasing data, and other services, are contributing to the increased demand for cloud solutions. The on-premise segment accounted for the second-largest revenue share in 2020 owing to the significant number of large enterprises relying on on-premise lease management solutions.

Application Insights

The commercial segment accounted for the largest revenue share of over 50.0% in 2020. The promising growth prospects of the segment can be attributed to the higher demand for commercial properties for leasing by numerous industries, such as hospitality, logistics, education, manufacturing, and retail. The growing urbanization and industrialization are also fueling the demand for lease management solutions across the commercial segment.

The residential segment accounted for the second-largest revenue share in 2020. The growth of this segment can be ascribed to the growing number of housing projects and increase in demand for the use of housing spaces/lobbies as retail spaces. The industrial segment is estimated to register the highest CAGR of 8.3% during the forecast period.

Organization Size Insights

The large organizations segment accounted for the largest revenue share of more than 68.0% in 2020. This can be attributed to the higher demand from large organizations to efficiently manage their leasing portfolio.

The small and medium organizations segment is projected to register the highest CAGR of 9.1% during the forecast period. The increased need to comply with often changing compliance standards and growing complexities in leasing operations is driving this segment.

Platform Insights

The software segment accounted for the largest revenue share of more than 81.0% in 2020 and is expected to maintain its lead over the forecast period. This can be attributed to the growing demand for lease management platforms to efficiently manage leases and provide account support to customers.

The services segment is expected to register the highest growth rate of 10.5% over the forecast period. This can be attributed to the increased demand for cloud deployment of lease management solutions and the introduction of automation, efficiency, and flexibility across the lease management lifecycle.

Regional Insights

North America accounted for the largest revenue share of 35.0% in 2020 and it is expected to maintain its lead over the forecast period. It can be attributed to the early adoption of lease management technologies in the region.

Asia Pacific is anticipated to register the highest CAGR of 7.0% over the forecast period. Factors such as the growing industrialization and the increasing number of smart city projects are further fueling the demand for smart buildings in the region. This is expected to boost the market growth in this region.

Key Companies & Market Share Insights

The market for lease management is fragmented owing to the presence of several global and regional players. Key participants are entering into strategic partnerships and collaborations, expecting to strengthen their business presence and withstand the highly competitive business environment. Moreover, lease management service providers are spending significantly on research & development activities to integrate new technologies in their offerings and develop advanced products capable of complying with the constantly changing lease obligations globally and gain a competitive advantage over other market players.

For instance, in October 2020, LeaseAccelerator announced updates to its Lease Lifecycle Automation platform. With the new enhancements, the company aims to help users concentrate on critical business functions and attain automation in lease management operations. The enhancements also aim at offering advanced account and technical support, connectivity, and testing capabilities. The new updates comprise Sandbox Environment, Single Sign-On (SSO), Premium Support, and LeaseConnect. Some prominent players in the global lease management market include:

• Accruent

• CoStar Realty Information, Inc.

• IBM Corporation

• LeaseAccelerator

• MRI Software, LLC

• Odessa

• Oracle

• SAP

• RealPage, Inc.

• Yardi Systems Inc.

• Nakisa Inc.

Lease Management Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For this study, Grand View Research has segmented the global lease management market report on the basis of platform, deployment, application, organization size, and region:

• Platform Outlook (Revenue, USD Million, 2016 - 2028)

  • Software

  • Service

• Deployment Outlook (Revenue, USD Million, 2016 - 2028)

  • On-premise

  • Cloud

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Commercial

  • Residential

  • Industrial

• Organization Size Outlook (Revenue, USD Million, 2016 - 2028)

  • Large Organizations

  • Small & Medium Organizations

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa

    • South Africa

    • Rest of MEA