[179+ Pages Report] According to the Facts and Factors market research study, the global asset leasing software market in 2020 produced sales revenue of USD 961.09 Million. The asset leasing software market is anticipated to produce USD 1,915.13 Million in revenue by the end of 2026, growing at a CAGR of about 12.2% from 2021 to 2026.
Global Asset Leasing Software Market: Overview
A leased asset is one that has been leased by the owner to another party in exchange for money or a favor. When leasing an asset, the owner enters into a contract that allows the other party to use the asset for a limited time. Asset leasing software supervises the work of the leasing lifecycle. Leasing software is used to keep track of asset leasing activities, paperwork and contracts, pricing, billing, and collections. Asset leasing software is mostly used by asset managers and financial experts, but its reporting capabilities are crucial for executives making decisions about their company's asset portfolio. Asset leasing software can be supplied as a stand-alone solution or as part of a larger bundle of goods. These software solutions will be connected with the CMMS and enterprise asset management software used by the companies, as well as accounting and ERP systems.
Global Asset Leasing Software Market: Growth Factor
Large and small asset leasing firms, as well as funder and brokerage leasing organizations, offer financial packages for a wide range of asset kinds, including vehicles, technology, agricultural machinery, construction and industrial equipment, and other vertical market asset types. Asset leasing software can handle all of the tasks that fall under the lease lifecycle management category. It also manages portfolios of various assets, such as equipment or automobiles, and provides credit evaluation and approval workflow. According to the International Construction Market Survey, the global construction sector increased at a rate of almost 3.5 percent in 2017 and nearly 3.9 percent in 2018. According to a survey conducted by Foreign Direct Investment (FDI), India's Department of Industrial Policy and Promotion (DIPP) totaled USD 24.91 billion in the Construction Development industry from April 2000 to December 2018. Thereby, certain factors increase the need for asset leasing software all around the world.
Global Asset Leasing Software Market: Segmentation
Based on deployment, the market is bifurcated into cloud-based and web-based. Based on organization size, the market is bifurcated into large enterprises and SMEs. Among which the cloud-based segment and the SME’s commanded the largest size in the asset leasing software market in 2020, and it is expected to grow at the fastest CAGR during the forecast period.
Global Asset Leasing Software Market: Regional Analysis
Based on regions, the global asset leasing software market can be divided into five main regions namely, North America, Europe, Latin America, Asia Pacific, and The Middle East and Africa.
North America dominates the asset leasing software market in terms of market share, across the world, owing to the growth in the manufacturing sector, rebuilding America's aging infrastructure, and the prevalence of a significant number of market players in the region. On the other hand, Asia Pacific is expected to generate the highest growth rate throughout the forecast period. The region comprises of some of the major growing economies across the world like China, Japan, India, and South Korea. The high CAGR growth will be due to the rapid industrialization & infrastructure development in the growing economies of the region.
Global Asset Leasing Software Market: Competitive Players
Some of the key players in the asset leasing software market are Accruent, Asset Panda, Cassiopae, CoStar Group, Soft4Leasing, IBM Corporation, Nakisa, LeaseAccelerator, LeaseQuery, Odessa Technologies, MRI Software, Oracle, RealPage, Visual Lease, VTS, IDS Group Companies (White Clarke Group), and PayLease, among others.
Global Asset Leasing Software Market: By Deployment
Global Asset Leasing Software Market: By Organization Size
Global Asset Leasing Software Market: Regional Segment Analysis
• North America
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Southeast Asia
o Rest of Asia Pacific
• Latin America
o Rest of Latin America
• Middle East and Africa
o GCC Countries
o South Africa
o Rest of Middle East and Africa
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