Lease Accounting and Management Software Market Trends, and Forecast, 2021-2031

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Lease Accounting and Management Software Market to Reach US$ 2.79 Bn by 2031; Market to Experience High Demand Opportunities from Real Estate Sector, Notes TMR

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NEWS PROVIDED BY Transparency Market Research  20 Oct, 2021, 14:30 BST

- The lease accounting and management software market expansion can be ascribed to a surge in demand for software-as-a-service (SaaS) models in lease management activities.

- Players are increasing efforts to incorporate 몭exibility, scalability, and reduced complexity in their products

NEW YORK, Oct. 20, 2021 /PRNewswire/ -- Lease Accounting and Management Software Market: Overview

Lease accounting and management software are increasingly being used for various 

purposes such as accessing, management, storage, and tracking lease data across

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manifold or single organizational units as well as asset types. This growing product adoption is fueling the sales opportunities in the lease accounting and management software market.

The analysts at Transparency Market Research (TMR) state that the global lease accounting and management software market is projected to expand at a CAGR of 9.8% during the forecast period from 2021 to 2031.

Lease Accounting and Management Software Market: Key Findings

Enterprises Focus on Product Innovations for Seamless Multi-family Units Management

The introduction of varied technological advancements such as SaaS (Software as a Service), cloud, and web-based platforms is compelling market enterprises to focus on R&D activities. Moreover, players are concentrating on modernization of online lease management and accounting software that are mainly useful for professional, residential, and mixed-use property managers. Besides, the companies are developing innovative platforms that offer a wide range of advantages, including free live chat support and seamless management of multi-family units.

Surge in Need for Superior Accuracy in Financial Reporting Boosts Adoption of Lease Accounting and Management Software

Lease accounting and management software are gaining traction, owing to their ability to reduce the number of manual tasks, which are generally needed in order to adhere to standard requirements. There is a notable growth in the adoption of these software in order to achieve high levels of precision in 몭nancial reporting as well as to prevent any manual errors. Players in the lease accounting and management software market are focusing on the development of platforms that ful몭l standard lease accounting calculation needs.

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Lease Accounting and Management Software Market: Growth Boosters

In lease accounting, organizations are required to record as well as report all the equipment, property, and other types of leases that they hold. Increased use of lease accounting and management software for different types of leases, including operating lease, contract hire, and 몭nance leasing is generating sales prospects in the market.

Use of dedicated lease management software can assist users in achieving realtime updates about lease performance. Similarly, the tool is useful in dealing with red 몭ags as they rise. The accountants from commercial of몭ces, multinational companies, and retail stores, among others are increasing the demand for software that can help them in generating custom reports needed for respective stakeholders in order to improve their lease performance.

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Lease Accounting and Management Software Market: Regional Analysis

The North America market is expected to maintain its dominant position in the upcoming years, due to increased use of lease accounting and management software to ful몭ll latest lease accounting norms.

Lease Accounting and Management Software Market: Competition Landscape

Major enterprises are developing compact and cost-ef몭cient lease accounting and management software to boost their customer base Several players in the global lease accounting and management software market are increasing participation in mergers & acquisitions and collaborations with technology partners in order to advance their product offerings Players operating in the market for lease accounting and management software are growing efforts to design platforms that offer high level of 몭exibility according

to users' requirements

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Lease Accounting and Management Software Market: Key Players

Some of the key market players pro몭led in this research report are:

CoStar Realty Information, Inc. Accruent LLC IBM Corporation Deloitte Touche Tohmatsu Limited LeaseAccelerator, Inc. KPMG International Limited MRI Software LLC LeaseQuery, LLC Nomos Limited Nakisa Inc. RealPage, Inc. PowerPlan, Inc. Soft4Lessee SMR Group (AMSI) Tango SS&C Technologies, Inc. (Skyline) Tagetik Software S.r.l.

Visual Lease, LLC

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Lease Accounting and Management Software Market: Segmentation

Component

Software Services Professional Services Managed Services

Deployment

On Premise Cloud

Application

Residential & Commercial Real Estate Leases Equipment Leases Employment & Services Contracts Others

Region

North America Europe Asia Paci몭c Middle East & Africa South America

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Our data repository is continuously updated and revised by a team of research experts, so that it always re몭ects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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