Leasing Automation Software Market
Overview and Scope
Leasing automation software refers to a digital system intended to streamline and automate different areas of the leasing process, such as lease origination, documentation, billing, management, and renewal. It is used to streamline and speed up lease-related activities, eliminating manual effort, errors, and improving overall operational efficiency.
Sizing and Forecast
The leasing automation software market size has grown strongly in recent years. It will grow from $1.51 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to compliance requirements, centralized data management, improved decision-making, enhanced collaboration, and competitive advantage.
The leasing automation software market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to digital transformation, remote work and mobility, sustainability and ESG reporting, scalability and flexibility, and artificial intelligence and automation. Major trends in the forecast period include the adoption of cloud-based solutions, enhanced integration capabilities, mobile accessibility, AI-driven lease negotiation assistance, and flexibility in lease structures.
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Segmentation & Regional Insights
The leasing automation software market covered in this report is segmented –
1) By Platform: Software, Services
2) By Deployment Type: Cloud-Based, Web Based
3) By Application: Large Enterprises, Small And Medium Enterprises (SMEs)
North America was the largest region in the leasing automation software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the leasing automation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing adoption of cloud-based solutions will propel the growth of the leasing automation software market going forward. Cloud-based solutions refer to software or services that are hosted, managed, and accessed remotely over the internet instead of locally on a user’s device or on-premises servers. The increasing adoption of cloud-based solutions is on the rise due to their ability to deliver scalability, cost efficiency, and reliability, enabling organizations to accelerate digital transformation. Cloud-based solutions enhance leasing automation software by providing scalable infrastructure, remote access, real-time data management, streamlining processes, and improving efficiency. For instance, in December 2023, according to the European Union (EU), a Belgium-based governing body, the adoption of cloud-based solutions in 2023 in the European Union increased by 4.2%, with 45.2% of enterprises purchasing cloud computing services, indicating a significant surge compared to 2021. Therefore, the increasing adoption of cloud-based solutions is driving the growth of the leasing automation software market.
Key Industry Players
Major companies operating in the leasing automation software market are International Business Machines Corporation, Oracle Corporation, SAP SE, Trimble Inc., RealPage Inc., LeasePlan Corporation N.V., Yardi Systems Inc., AppFolio Inc., CoStar Group Inc., MRI Software LLC, LeasePilot Inc., Accruent LLC, Cassiopae S.A.S., LeaseQuery LLC, Visual Lease Services Inc., LeaseAccelerator Inc., Re-Leased Limited, Automatic Labs Inc., Milestone Aviation Group Limited, Nomos One Limited, DealSumm Limited, FMIS Software
The leasing automation software market report table of contents includes:
1. Executive Summary
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