According to a research report published by Research Dive, the Leasing management market It is estimated that there is tremendous revenue that will exceed $ 6,252.3 million by 2027, with a significant CAGR of 6.7%.
Sales will increase from a market volume of USD 3,721.6 million in 2019. The entire report provides a brief glimpse into the current state of the market that covers aspects such as growth factors, market dynamics, restraints, challenges, and diverse opportunities in the US forecast period. The report also mentions all market figures; This facilitates and helps the novel participants to understand the market.
The growth of the lease management market is due to the overuse of software as a service that is part of cloud services. This enables inexpensive access to various platforms on the World Wide Web. The increasing demand for smart construction projects will also fuel market growth. All of these aspects are responsible for stimulating the market.
On the other hand, the awareness gap about the lease management software and higher investment costs for the software implementation in the organizations will put a strain on the market. In addition, regular software updates and maintenance are considered expensive. These factors are the main limitations in the market.
The report divides the market into segments based on components, deployment mode, company size, end-use industry, and regional outlook.
Service segment as the most lucrative
This segment is expected to grow from a healthy market size of $ 2,268.7 million in 2019 to a significant CAGR of 6.3% over the forecast period. The service segment is preferred because it presents the company with consistently optimized results, provides business insights, and controls data efficiency. These facets lead the growth of this segment.
On-premise segment to garner the highest sales
It is estimated that during the forecast period, this segment will be outperformed by a healthy market size of $ 2,002.9 million in 2019 with a CAGR of 5.4%. The main reason for the increase in this segment is the increased security control over the external services and the minimum cost for the organization.
Large corporate segment as the most profitable
This segment is seen as promising as it will grow at an annual rate of 5.8% over the forecast period and exceed the $ 2,199.3 million mark in 2019. Large companies need smooth operations. Therefore, the introduction of the leasing management software simplified the functionality. This is the main factor that drives market growth.
Manufacturing segment to achieve significant sales
This particular segment is expected to have a CAGR of 6.3% over the forecast period, up from a sizeable market size of $ 1,137.3 million in 2019. The lease management software is used in the manufacturing units as it works better on dealers’ contracts and leases. Apart from that, all transactions are monitored down to the last detail. These properties improve the market in this segment.
North America region expands business at a remarkable rate of growth
This region will raise a significant CAGR of 5.9% over the estimated forecast period from a remarkable market size of $ 1,219.6 million in 2019. Many companies are establishing themselves in this region and investing in the operational flow. The use of advanced lease management software by companies is driving market growth. These are the main aspects that drive the market.
Main actors and business strategies
- Lease Accelerator Inc.
- CoStar Realty Information Inc.
- AppFolio Inc.
- Trimble Inc.
- RealPage Inc.
- Oracle Corporation
The market participants in the leasing management sector are focused on developing novel strategies such as mergers and acquisitions as well as advanced technical developments. These are the effective strategies pursued by both startups and established organizations.
The report covers various aspects of all the major players operating in the market such as: B. the financial performance, current strategic steps, the product portfolio, developments and the SWOT test (strength, weakness, opportunities and risks).
Research Dive is a market research company based in Pune, India. While maintaining the integrity and authenticity of the services, the company offers the services based solely on its exclusive data model enforced by the 360-degree research method, which guarantees a comprehensive and accurate analysis. With unparalleled access to multiple paid data resources, a team of experts, and a strong work ethic, the company provides the most accurate and reliable insights. Research Dive reviews relevant press releases, government publications, decades of commercial data, and technical and white papers, and provides clients with the services they need within the required timeframe. Expertise focuses on studying niche markets, targeting key driving factors, and identifying threatening barriers. In addition, there is a seamless collaboration with the big industry enthusiast, which gives his research another advantage.
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