07-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Lease Management Software Market By Platform (Software & Service), By Deployment Mode (On-Premise & Cloud), By Application (Commercial, Residential, & Industrial), By Organization Size (Large Organization & SMEs), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026”. According to the report, the global lease management software market was valued at approximately USD 4.9 Billion in 2020 and is expected to reach a value of around USD 6.2 Billion by 2026, at a CAGR of around 6% between 2021 and 2026.
Lease management software assists commercial real estate experts in formulating, examining, and distributing leases as well as relevant documentation. It also provides a central databank that saves the information and built-in financial analysis tools. This helps end-users in effectively handling lease payments, preparation of abstracts & stacking agendas, and exact examining of lease-level financial information. Lease management software also integrates its working with real estate portfolio management software to demonstrate property owners with a complete outlook of their real estate possessions. Lease management software helps in simplifying management operations and fulfilling business objectives.
Browse the full “Lease Management Software Market By Platform (Software & Service), By Deployment Mode (On-Premise & Cloud), By Application (Commercial, Residential, & Industrial), By Organization Size (Large Organization & SMEs), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026” Report at https://www.fnfresearch.com/lease-management-software-market-by-product-type-on
New Lease accounting principles to steer the market growth
Accounting standard codification 842 and global financial reporting standard 16 are likely to totally alter the laws that regulate the accounting protocols for leases. Due to this, simple worksheets and physical processes will not be sufficient to maintain lease data and do lease calculations. This, in turn, will favorably impact the expansion of the lease management software industry during the forecast timeline.
Moreover, infrastructural growth across the globe is propelling the need for real-time access to the property information. Apart from this, the growing focus of property or real estate owners on improving scalability, cost-efficacy, and time-efficiency will propel the demand for property management software. All these factors will further impel the growth of the lease management software market over the forecast period. In addition to this, asset & product differentiation along with the escalating need for the SAAS model of property management will further drive the market trends. Nonetheless, security risks, as well as budget constraints related to lease management software, will steer the growth of the market.
Cloud-based segment to dominate the lease management software market in terms of value
The growth of the segment can be credited to a rise in the number of end-users and firms choosing cloud installation as it is scalable & cost-efficient. The cloud-based segment is set to accrue a revenue of nearly USD 1,070 million by the end of the forecast timeframe.
Real estate management software to lead the vertical segment
The growth of the real estate management software segment can be attributed to its escalating popularity among core property management software providers. Apart from this, the need for creating new software solutions and setting up a suitable framework for fulfilling the business goals of the property owners will further drive the growth of the segment.
North America to majorly contribute towards the overall market earnings during the forecast period
North American market is projected to garner revenue of nearly USD 1,210 by 2027. The growth of the market in the region can be due to the high acceptance of property management software and the huge presence of global as well as regional players.
Some of the major participants in the lease management software market include Accruent, IBM, Oracle, RealPage, SAP, Trimble, AppFolio, CoStar Group, RAAMP, Odessa, LeaseAccelerator, MRI Software, Yardi Systems, Inc., Nakisa, Inc., Deloitte Touche Tohmatsu Limited, LeasQuery LLC, Nakisa, Inc., Nomos Limited, PowerPlan, Inc., SMR Group, Tango, and Visual Lease LLC.
This report segments the lease management software market as follows:
Global Lease Management Software Market: By Platform Segment Analysis
Global Lease Management Software Market: By Deployment Mode Segment Analysis
Global Lease Management Software Market: By Application Segment Analysis
- Commercial
- Residential
- Industrial
Global Lease Management Software Market: By Organization Size Segment Analysis
Global Lease Management Software Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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