Dublin, Sept. 21, 2020 (GLOBE NEWSWIRE) -- The "Global Lease Management Market by Component (Solutions, Services), End User (Housing, Corporate, Property Managers), Deployment Mode, Organization Size, Vertical (Real Estate, Retail & e-Commerce, BFSI) and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The need for modernizing IT infrastructure to achieve agility, scalability, and flexibility at scale to drive the growth of the global lease management market
The global Lease management market is projected to grow from USD 4.4 billion in 2020 to USD 5.9 billion by 2025, at a CAGR of 5.9% during the forecast period.
The lease management market is expected to grow at a fast pace, owing to the Increasing demand for smart building projects to efficiently manage lease and Emerging technologies, such as IoT, AI, and mobility, for real-time data analysis.
Corporate segment to hold a larger market size in 2020
The end user segment is segmented as housing, corporates, and property managers. The corporates segment is expected to hold largest market size. The corporate segment covers real estate buildings and spaces, hotels, educational institutes, and government lands and buildings. Corporate assets need to manage several departments, such as maintenance, human resources, accounting and payroll, and business operations. For managing these departments and their business operations, corporates adopt the lease management solution and services.
By vertical, real estate vertical to register the largest market size during the forecast period
The real estate vertical is expected to hold the largest market size in the lease management market. Number of construction sites are running so property managers do not just manage one or two properties but a lot of properties at different locations in or out of the city. Lease management solutions help property managers manage the leasing processes.
Asia-Pacific (APAC) to register the highest growth rate during the forecast period
The APAC lease management market is experiencing slashing IT budgets and the growing IT infrastructures across organizations, which is encouraging the organizations in the region to adopt lease management solutions for streamlining their lease processes. The major countries to witness high growth rates in this region include Japan and China among others.
Major vendors offering lease management solutions are
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