The accounting and lease management software market will reach $ 2.79 billion by 2031; The market will experience high demand opportunities in the real estate sector, notes TMR

NEW YORK, 20 October 2021 / PRNewswire / – Accounting and Lease Management Software Market: Overview

Accounting and lease management software are increasingly used for a variety of purposes, such as accessing, managing, storing and tracking rental data across multiple organizational units or asset types. This growing adoption of products is fueling sales opportunities in the accounting and lease management software market.

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

Accounting and Lease Management Software Market: Key Findings

  • Companies focus on product innovations for seamless management of multi-family units

The introduction of various technological advances such as SaaS (Software as a service), cloud and web platforms force market companies to focus on R&D activities. In addition, the players are focusing on the modernization of lease management and online accounting software which is mainly useful to professional, residential and mixed property managers. In addition, companies are developing innovative platforms that offer a wide range of benefits, including free live chat support and seamless management of multi-family units.

  • Increasing need for greater accuracy in financial reporting drives adoption of accounting and lease management software

Accounting and lease management software are gaining traction, due to their ability to reduce the number of manual tasks, which are typically required to meet standard requirements. There is a noticeable growth in the adoption of these software in order to achieve high levels of accuracy in financial reporting as well as to avoid manual error. The players in the accounting and lease management software market are focusing on the development of platforms that meet the standard needs for calculating lease accounting.

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Accounting and Lease Management Software Market: Drivers of Growth

  • In lease accounting, organizations are required to record and report all equipment, property, and other types of leases that they hold. The increased use of accounting and lease management software for different types of leases, including operating lease, contractual leasing and leasing, is generating sales prospects in the market.
  • Using dedicated lease management software can help users get real-time updates on lease performance. Likewise, the tool is useful for dealing with red flags as they rise. Accountants in trade offices, multinational corporations, and retail stores, among others, are increasing the demand for software that can help them generate custom reports needed by respective stakeholders to improve their rental performance.

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Accounting and Lease Management Software Market: Regional Analysis

The North America The market is expected to maintain its dominant position in the years to come, due to the increased use of accounting and lease management software to meet the latest lease accounting standards.

Accounting and Lease Management Software Market: Competition Landscape

  • Large companies are developing compact and cost-effective accounting and lease management software to increase their customer base
  • Several players in the global accounting and lease management software market are increasingly involved in mergers and acquisitions and collaborations with technology partners to advance their product offerings.
  • The players in the accounting and lease management software market are increasingly striving to design platforms that offer a high level of flexibility according to the needs of the users.

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Accounting and Lease Management Software Market: Key Players

Some of the major market players presented in this research report are:

  • CoStar Realty Information, Inc.
  • Sàrl
  • IBM Company
  • Deloitte Touche Tohmatsu Limited
  • LeaseAccelerator, Inc.
  • KPMG International Limited
  • IRM Software LLC
  • Lease Application, LLC
  • Nomos Limited
  • Nakisa Inc.
  • RealPage, Inc.
  • PowerPlan, Inc.
  • Soft4Lessee
  • SMR Group (AMSI)
  • Tango
  • SS&C Technologies, Inc. (Skyline)
  • Tagetik Software Srl
  • Visual Lease, LLC

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Accounting and Lease Management Software Market: Segmentation

Making up

  • Software
  • Services
  • Professional services
  • Managed Services

Deployment

Application

  • Residential and commercial real estate leases
  • Equipment leases
  • Employment and service contracts
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our proprietary blend of quantitative forecasting and trend analysis provides forward-looking information to thousands of decision makers. Our experienced team of analysts, researchers and consultants use proprietary data sources and various tools and techniques to collect and analyze information.

Our data repository is continually updated and reviewed by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analytical capacity, Transparency Market Research uses rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research


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