Leasing Automation Software Global Market Report 2024

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 expansion observed during the historical period can be attributed to several factors, including compliance requirements driving adoption, the need for centralized data management, improvements in decision-making processes, enhanced collaboration among stakeholders, and the pursuit of competitive advantage within the industry.

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%. The projected growth in the forecast period can be attributed to various factors, including the ongoing digital transformation across industries, the increasing prevalence of remote work and mobility trends, a heightened focus on sustainability and Environmental, Social, and Governance (ESG) reporting, the demand for scalability and flexibility in lease management solutions, and the integration of artificial intelligence (AI) and automation technologies. Key trends expected during this period include the widespread adoption of cloud-based solutions for lease management, the enhancement of integration capabilities to streamline processes, increased emphasis on mobile accessibility for on-the-go lease management, the implementation of AI-driven tools for lease negotiation assistance, and the flexibility in lease structures to accommodate changing business needs.

The leasing automation software market is poised for growth driven by the increasing adoption of cloud-based solutions. Cloud-based solutions, which are accessed remotely over the internet instead of locally, offer scalability, cost efficiency, and reliability, thus accelerating digital transformation initiatives within organizations. Within the leasing automation software domain, cloud-based solutions enhance infrastructure scalability, enable remote access, facilitate real-time data management, and streamline processes, thereby improving operational efficiency. For instance, as reported by the European Union (EU) in December 2023, cloud-based solution adoption surged by 4.2% in 2023, with 45.2% of enterprises in the EU investing in cloud computing services, marking a significant increase compared to 2021. Consequently, the rising adoption of cloud-based solutions serves as a key driver for the expansion of the leasing automation software market.

Leading companies in the leasing automation software sector are innovating to deliver efficient solutions that streamline property management companies' leasing processes. These solutions leverage digital tools and software platforms to enhance operational effectiveness. For example, in August 2023, VERO, a US-based modern screening and leasing platform, introduced VERO1, the industry's first centralized leasing tool designed to automate and streamline the rental application process for enterprise owners and operators. Utilizing augmented artificial intelligence and a specialized team of analysts, VERO1 delivers decision-ready applications, aiming to increase the efficiency of the enterprise application management process by tenfold and alleviate the burden on understaffed teams. By expediting lease decisions, enhancing occupancy rates, and improving rent collection rates through validated data and ready-to-decision applications, VERO1 revolutionizes the leasing process for property managers and operators.

In May 2023, LeaseAccelerator Inc., a US-based provider of lease lifecycle automation software, acquired the LeaseController software-as-a-service products and related business operations from Deloitte Touche Tohmatsu Limited, with the financial details undisclosed. This strategic acquisition aligns with LeaseAccelerator's goal of expanding its solution portfolio to offer clients a comprehensive suite of enterprise solutions, including real estate administration, equipment leasing sourcing, and emissions management. LeaseController, formerly owned by Deloitte, is a leasing automation software designed to streamline and automate lease accounting processes for organizations. Deloitte Touche Tohmatsu Limited, a UK-based provider, brings valuable expertise in lease lifecycle automation software to LeaseAccelerator, further enhancing its market position and capabilities.

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.

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.

The countries covered in the leasing automation software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Leasing automation software is a digital solution designed to simplify and automate various aspects of the leasing process, including lease origination, documentation, billing, management, and renewal. By automating these tasks, the software helps to streamline operations, reduce manual errors, and enhance overall efficiency.

The primary types of platforms offered by leasing automation software include software and services. Software comprises a set of instructions that enable computers to execute specific tasks. In the context of leasing automation, software optimizes efficiency and accuracy by streamlining processes, managing data, and facilitating communication. It can be deployed via cloud or web-based platforms and caters to applications across large enterprises and small to medium enterprises (SMEs).

The leasing automation software research report is one of a series of new reports that provides leasing automation software market statistics, including the leasing automation software industry's global market size, regional shares, competitors with a leasing automation software market share, detailed leasing automation software market segments, market trends, and opportunities, and any further data you may need to thrive in the leasing automation software industry. This leasing automation software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The leasing automation software market includes revenues earned by entities by providing services such as tenant communication, rent collection, maintenance tracking, financial reporting, and document management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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