Global Lease Management Market Predicted to Witness Striking Growth with the Acquisitions Like that of Trimble by MRI Software

Lease management is also referred to as lease administration, which includes the day-to-day execution of tasks related to a company’s lease portfolio. Lease management includes several tasks including document management, reporting, coordinating between stakeholders, and a myriad of administrative tasks. Lease administrators are responsible for tracking, reporting on, and optimizing property and equipment obligations. This helps asset-based lending firms to achieve compliance, mitigate risks, and lower costs. The lease management process starts with negotiations and moves forward to renewals. The common tasks of lease management include lease negotiation, lease accounting, and ongoing lease tracking.

Forecast Analysis of the Global Lease Management Market

With the increasing need for a Software-as-a-Service (SaaS) model in lease management, the global lease management market is expected to experience significant growth during the analysis timeframe. Besides, the increasing demand for smart building projects is further expected to bolster the growth of the market during the forecast period. Moreover, cutting-edge technological development such as the Internet of Things (IoT) in lease management services is predicted to create massive growth opportunities for the market over the estimated timeframe. However, the increased cost of investment for the installation of lease management technology may hinder the growth of the market throughout the forecast period. 

According to the report published by research Dive, the global lease management market is anticipated to generate a revenue of $8,990.6 million and rise at a CAGR of 6.9% during the analysis timeframe from 2022 to 2031. The major players of the market include Nakisa, Trimble Inc., RealPage, Inc., FORTUNE Media IP Limited, Oracle Corporation, CoStar Group, SAP, IBM, Lease Accelerator, Inc., Innolux Corporation, and many more.

Lease Management Market Trends & Developments

The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global lease management market to grow exponentially. For instance:

• In July 2020, Lease Accelerator Inc., a leading provider of enterprise lease life-cycle automation software, launched EZLease software, which is an automated lease calculator for rapid and low-cost compliance. This particular software is designed to support the requirements of lessees and lessors for all standards in one fully-integrated application. With the help of EZLease, the lease data could be managed by the lessees and lessors at the asset or portfolio level with full data validation and over 15 standard reports.
   
• In April 2021, MRI Software, a leading provider of innovative real estate software applications and hosted solutions announced its acquisition of Trimble, a California-based industrial technology company transforming the way the world works by delivering solutions. With this acquisition, MRI Software expanded its workplace management software with space scheduling, booking, and facilities management capabilities and complemented its accounting and administrative software for real estate owners and operators. 
   
• In February 2022, RealPage, Inc., an American multinational corporation that provides property management software for the multifamily, commercial, single-family, and vacation rental housing industries announced its partnership with Measurabl, Inc., the world’s most widely adopted ESG solution for real estate. With this partnership, the companies aimed to help owners of commercial, senior, university, multifamily, and another real estate to meet their sustainability goals and mandates with technology integration, professional services, and big data analytics. 

Most Profitable Region  

The Europe region of the lease management market is expected to dominate the market and is projected to hold the largest share of the market. The existence of several businesses around the region and the increasing investments made by most businesses to build operational flow inside the region is expected to drive the regional growth of the market. In addition, the firms of this region are focusing on the development of cutting-edge leasing management software to improve their functionalities is expected to fortify the growth of the market. 

Covid-19 Impact on the Lease Management Market

Though the outbreak of the Covid-19 pandemic has devastated several other industries, it has had a positive impact on the lease management market. This is mainly because of the increasing preference of consumers towards cloud-based solutions. Furthermore, due to the prolonged lockdown and stringent government regulations, many businesses have adopted virtual offices which has further increased the penetration of technology such as lease management solutions during the pandemic period.