Equipment Leasing Software Global Market Report 2024

The equipment leasing software market size has grown rapidly in recent years. It will grow from $0.77 billion in 2023 to $0.86 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. During the historic period, growth can be credited to factors such as cloud computing, integration capabilities, adherence to accounting standards, compliance requirements, competitive pressure, evolving customer expectations, and globalization.

The equipment leasing software market size is expected to see rapid growth in the next few years. It will grow to $1.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. Growth in the forecast period is expected due to the desire for operational efficiency, global economic circumstances, transitioning to subscription-based models, the rise of mobility solutions, emphasis on enhancing customer experiences, and initiatives concerning environmental sustainability. Key trends in the forecast period encompass automation and AI integration, leveraging data analytics for insights, integrating blockchain technology, expanding partnerships and ecosystems, and emphasizing flexibility and customization.

The growing adoption of cloud-based solutions is expected to drive the expansion of the equipment leasing software market. Cloud-based solutions are services and applications hosted on remote servers and accessed via the Internet, offering scalability and flexibility. Their rising adoption is due to their scalability, cost-effectiveness, and the convenience of access from any location. Equipment leasing software uses cloud-based solutions to enhance accessibility, enable real-time data synchronization, and facilitate seamless collaboration across multiple locations and devices. For example, Eurostat, a Luxembourg-based intergovernmental organization, reported that in December 2023, about 45.2% of EU enterprises used cloud computing services, primarily for email hosting, file storage, and various operational tasks, marking a significant increase of 4.2 percentage points since 2021. The most popular services included email hosting (82.7%), file storage (68%), office software (66.3%), security applications (61%), finance or accounting software (51.6%), and enterprise database hosting (43%). Therefore, the increasing adoption of cloud-based solutions is fueling the growth of the equipment leasing software market.

Major companies in the equipment leasing software market are focusing on innovative lease portfolio management solutions to streamline operations and enhance financial performance. Lease portfolio management solutions in this context refer to software systems that help track, optimize, and analyze a company's leased equipment assets. For instance, in May 2022, SOFT4Leasing, a Lithuania-based automotive leasing software company, launched SOFT4Leasing version SL62, designed for efficient lease portfolio management and streamlined leasing operations. This update includes numerous enhancements, new features, and bug fixes, improving the software's functionality and user experience. The customer portal is now a standalone application, allowing customers to easily access contract details, invoices, credit notes, statements, and payment plans while facilitating direct communication. The software offers comprehensive equipment leasing solutions for asset finance and leasing entities, including equipment manufacturers, distributors, and automotive dealers. With automation capabilities, data integrity assurance, and compliance adherence, the software optimizes leasing processes, reduces errors, and enhances operational efficiency.

In June 2023, Mizuho Leasing Company, a Japan-based financial services company, acquired a 51% stake in Rent Alpha Private Limited for an undisclosed amount. This acquisition allows Mizuho Leasing to diversify its portfolio and reduce its dependence on the Japanese market, mitigating risks from economic fluctuations in Japan. The move will create synergies between the two companies, enabling shared expertise, resources, and technology for improved operational efficiency and enhanced service offerings. Rent Alpha Private Limited is an India-based company that provides equipment leasing and rental solutions, including leasing software.

Major companies operating in the equipment leasing software market are International Business Machines Corporation, Oracle Corporation, SAP SE, Constellation Software Inc., CoStar Group, Visual Lease LLC, Odessa Technologies Inc., Alfa Systems Private Limited, Cloud Lending Solutions, NETSOL Technologies Inc., LeaseQuery (FinQuery), Nakisa Inc., LeaseAccelerator, LTi Technology Solutions, ECS Financial Services India Pvt. Ltd., Ivory Consulting Corporation, Cassiopia Software Pvt. Ltd., Dominion Leasing Software LLC, Soft4Leasing, Tamarack Consulting LLC, ILease Management LLC, Leasify, AMTdirect, LOIS Software.

North America was the largest region in the equipment leasing software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the equipment leasing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

Equipment leasing software is specialized software designed to oversee the lifecycle of leased equipment, ensuring adherence to lease terms and financial regulations while offering detailed reporting and analytics to enhance decision-making.

The primary categories of equipment leasing software include invoice management, lease application management, lease document management, and origination management. Invoice management encompasses tasks such as invoice creation, delivery, receipt, and payment tracking, typically within organizational contexts. This software can be deployed through hosted or on-premise modes, serving diverse applications ranging from large enterprises to small and medium-sized enterprises. Distribution channels for this software cover both direct and indirect methods, serving sectors such as agriculture, construction, manufacturing, medical and biotechnology, transportation, and logistics.

The equipment leasing software research report is one of a series of new reports that provides equipment leasing software market statistics, including the equipment leasing software industry's global market size, regional shares, competitors with an equipment leasing software market share, detailed equipment leasing software market segments, market trends and opportunities, and any further data you may need to thrive in the equipment leasing software industry. This equipment leasing 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 equipment leasing software market includes revenues earned by entities by providing services such as lease contract management, asset tracking, payment processing, compliance management, reporting and analytics, customer relationship management (CRM), and maintenance scheduling. 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.


This product will be delivered within 3-5 business days.