According to the report titled ‘Global Lease Management Market Size study, by Deployment mode (Cloud, On-premises), by Type ( Software, Services), by End user ( Housing, Corporates, Property Managers), by Enterprise size ( Large Enterprises, Small and Medium-sized Enterprises (SMEs)), by Vertical ( Retail and eCommerce, Government and Public Sector, BFSI, Education, Real Estate, Transportation and Logistics, Manufacturing, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global lease management market was worth USD 4.2 billion in 2019 and is expected to record a 5.9% CAGR during 2020-2027.
 

Escalating smart building initiatives, incorporation of SaaS model for efficient management of lease, along with emergence of new technologies including automation, artificial intelligence (AI), and Internet of Things (IoT) for real-time data processing are primarily driving the growth of global lease management market.
 

Notably, companies and firms that set up real estate and other entities for leasing purposes are constantly seeking techniques which will help them effectively manage their assets. Solutions that help in improving the outlook of current leaseholders is likely to be useful for end-users.
 

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Major contenders in global lease management industry have adopted several tactics such as funding, investment, partnerships & agreements, mergers & acquisition, and product launch to gain a competitive edge. For instance, IBM Corporation, in April 2020, introduced AI-powered tools to aid health as well as science groups in boosting development of scientific ideas along with therapies for coronavirus. This approach utilizes advanced AI and allows researchers to easily extract critical COVID-19 details.
 

However, budget limitations for advanced technological solutions implementation is likely to hamper global lease management industry landscape over the study period.
 

Citing the regional landscape, worldwide lease management market sphere is segmented into North America, Asia Pacific, Latin America, Europe, and Rest of the World. The report claims that North America market currently accounts for significant revenue share and is anticipated to grow further over 2020-2027, as the region is home to various end-user sectors, well-established manufacturers, and prominent telecommunication firms, that support emerging technology adoption to fuel work efficiency.
 

Meanwhile, Asia Pacific lease management industry is slated to register decent growth rate through 2027, on account of conductive government initiatives, along with propagation of construction firms and leading companies in the region.
 

Major contenders impacting global lease management market dynamics are Nakisa Inc., CoStar Group Inc., Odessa Technologies Inc., AppFolio Inc., Trimble Inc., SAP SE, RealPage Inc., Oracle Corporation, IBM Corporation, and Accruent LLC.