What Has Been The Evolution of the Leasing Automation Software Market in Recent Years?
The leasing automation software market has seen considerable growth due to a variety of factors.
• The market size for leasing automation software has experienced significant growth lately. The progression predicted is from $1.64 billion in 2024 to reach $1.79 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.2%.
Contributory factors to the historic growth included requirements for compliance, centralized management of data, better decision-making abilities, improved collaboration, and gaining a competitive edge.
What Are the Future Growth Projections for the Leasing Automation Software Market?
The leasing automation software market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the leasing automation software market foresee substantial expansion in the upcoming years, with the market projected to reach $2.52 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 8.9%.
Factors driving this growth during the predicted period include digital transformation, remote work and mobility, sustainability and ESG reporting, along with scalability, flexibility, and the integration of artificial intelligence and automation. Key trends in this period are anticipated to be the adoption of cloud-based solutions, improved integration capabilities, mobile accessibility, negotiation support driven by AI in leasing, and flexible lease structures.
What Are The Core Factors Supporting Growth In The Leasing Automation Software Market?
The propagation of the leasing automation software market in the future will be spurred by the growing utilization of cloud-based solutions. Defined as services or software managed, accessed remotely, and hosted over the internet rather than locally on one's device, or on-site servers, cloud-based solutions' uptake is growing. This is due to their scalability, affordability, and reliability which aids organizations in speeding up their digital transition. Leasing automation software gets enriched by cloud-based solutions through the provision of scalable infrastructure, real-time data administration, processes streamlining, remote accessibility, and an elevation in efficiency. For example, the European Union (EU), a governing entity based in Belgium, reported in December 2023 that there was a 4.2% increase in the use of cloud-based solutions in the European Union during the year 2023, with 45.2% of businesses purchasing cloud computing services. This is a considerably huge leap compared to 2021. As such, the continued uptake of cloud-based solutions is stimulating the expansion of the leasing automation software market.
What Are The Major Segments Within The Global Leasing Automation Software Market?
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)
Subsegments:
1) By Software: Lease Management Software, Lease Accounting Software, Document Automation Software, Workflow Automation Software
2) By Services: Consulting Services, Implementation Services, Training And Support Services, Managed Services
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What Trends Are Reshaping The Future Of The Leasing Automation Software Market?
Leading corporations in the leasing automation software market are creating inventive leasing automation solutions to boost the efficiency and productivity of property management companies' leasing operations. These solutions are digitizing the leasing procedures with the help of technology tools and software platforms. For example, in August 2023, VERO, a contemporary screening and leasing platform based in the US, launched VERO1; it is the first integrated tool dedicated to optimizing and automating the rent application procedure for company owners and operators. VERO1 employs advanced artificial intelligence and a specialist team of analysts to provide applications that are ready for decision-making, with the primary objective of making the enterprise application management process ten times more streamlined, thus freeing up time and resources for teams who are short-staffed. This platform accelerates lease decision-making, maximises occupancy rates, and helps in better rent collection by providing operators with authenticated data and applications that are ready to be decided upon, thus transforming the leasing process for property managers and operators.
Who Are the Key Players In The Leasing Automation Software Market?
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
What Is The Most Dominant Region In The Leasing Automation Software Market?
North America was the largest region in the leasing automation software market in 2024. 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.
