New York, USA, June 15, 2022 (GLOBE NEWSWIRE) -- A new report on the global lease management market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $6,252.3 million by 2027, growing with a CAGR of 6.7% in the forecast period, 2019-2027. This report is an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the Lease Management Market Growth:
The key factors boosting the growth of the global lease management market are the surging implementation of the SaaS model in several companies for offering remote access in an affordable way and the growing development of smart building projects across the globe. Moreover, the growing adoption of cloud services by several large businesses is projected to open doors to lucrative opportunities for the growth of the market throughout the forecast period. However, a dearth of knowledge and awareness as well as high investment costs involved in implementing lease management software is expected to hinder the market growth.
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Impact of COVID-19 Pandemic on the Lease Management Market:
The abrupt rise of the COVID-19 pandemic in 2020 has had an optimistic impact on the growth of the global lease management market. The implementation of lockdown restrictions during the pandemic has ceased the normal functioning of several companies. Many companies have opted for a work-from-home working model to avoid the spread of the virus. Hence, there has been a rise in the adoption of advanced lease management software to integrate the management data and help businesses in working remotely without any interruptions in the operational work. All these factors are likely to fuel the market growth in the coming years.
The report segments the global lease management market into component, deployment type, enterprise size, end use industry, and region.
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Service Sub-Segment to Hold a Leading Market Share
The service sub-segment of the component segment is anticipated to grow significantly with a CAGR of 6.3% during the forecast period. This growth is chiefly owing to the rising demand for service component, as it provides end-to-end optimized solutions for businesses to manage data proficiently and offers business insights.
On-premise Sub-Segment to Dominate the Market
The on-premise sub-segment of the deployment type segment is anticipated to hold a foremost position in the market by rising with a CAGR of 5.4% during the estimated period. This is chiefly owing to the rising demand for on-premise type of lease management software to enable enhanced security management of external services in an economic way within the organization.
Large Enterprise Size Sub-Segment to Hold a Foremost Market Position
The large enterprise size sub-segment of the enterprise size segment is anticipated to grow significantly with a CAGR of 5.8% during the estimated period. This growth is chiefly owing to the rising implementation of lease management software in large enterprises for smooth functioning of the operational processes.
Manufacturing Sub-Segment to Contribute the Market Growth
The manufacturing sub-segment of the end use industry segment is anticipated to grow significantly with a CAGR of 6.3% during the estimated period. This is chiefly because of the increasing demand for lease management software in manufacturing industries, as a majority of manufacturing industries have a lease and contract amongst all the dealers and every deal needs to be scrutinized in-detail.
North America Market to Observe Highest Growth
The report analyzes the global lease management market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North America region market is estimated to observe remarkable growth with a CAGR of 5.9% in the projected period. The growth of the region market is mainly because of the rising implementation of lease management software by numerous companies to streamline operational workflow in this region.
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Key Market Players
The report lists some of the foremost players operating in the global lease management industry including
- AppFolio, Inc
- LeaseAccelerator, Inc
- CoStar Realty Information Inc.
- Trimble Inc
- RealPage, Inc.
- SAP
- NAKISA
- IBM
- Oracle Corporation, and others.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/on-premise range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. – Inquire to buy Full Report@ https://www.researchdive.com/purchase-enquiry/411
For instance, in February 2021, LeaseQuery, a foremost comprehensive lease accounting software providing firm, launched the LeaseManager solution with an aim to hold an infinite number of leases free of cost, is a self-service lease management software for lessees and tenants.
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