Global Leased Asset Management Solutions Market: Introduction
Leased asset management solutions can be defined as fully integrated solutions for the management of lease and underlying assets. Leased asset management solutions ensure that cost and space utilization are factored in for performance management; divisions comply with regulatory requirements; and leases are managed according to the terms of the agreement.
The major advantage of a leased asset management solutions is that it ensures compliance, tracking leased equipment, and lease accounting for payable and receivable. This ensures efficiency in management of assets which a company acquires on rent for a long term basis. Due to multiple advantages of leased asset management solutions, the demand for such solutions is expected to rise in the coming future at a healthy CAGR.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Global Leased Asset Management Solutions Market – Dynamics
Increasing Focus on Digitization Driving Growth of the Leased Asset Management Solutions Market
Growing Demand for Unified Solutions for Leased Asset Management
Unified leased asset management solutions provide capabilities such as site selection and acquisition, payables lease administration and accounting (lessee), receivables lease administration and accounting (lessor), automation in-site acquisition, compliance fulfilment etc.in a complete package. Unified solutions are highly demanded as it automates and unifies various accounting related features in a common context and experience. As a result, enterprises (especially the large ones) these days require a complete package which offers advanced unified solution features. This is expected to drive the demand for leased asset management solutions.
Increasing Adoption of Digitization for Accounting Functions
Across the globe, adoption of digitized tools to manage accounting functions has increased rapidly. Accounting handling software has considerably increased efficiency as well as reduced the chances of error. SMEs are adopting such tools and software at a sizable rate. The adoption from SMEs for accounting and related administrative work is driving the demand for leased asset management solutions.
Software Compatibility Issues Restricting the Growth of the Market
Many users find themselves restricted due to compatibility issues. In addition, most leased asset management solutions require to have additional software to function efficiently. Certain viewing software may impose an additional expense on the user. Compatibility and cost of integration is hampering the growth of the leased asset management solutions market.
North America Expected to Dominate the Global Leased Asset Management Solutions Market
In terms of region, the global leased asset management solutions market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global leased asset management solutions market during the forecast period, as the adoption of digitized technology within SMEs in North America is comparatively high compared to other regions.
For Right Perspective & Competitive Insights on Leased Asset Management Solutions Market, Request for a Sample
Global Leased Asset Management Solutions Market – Competitive Landscape
- In October 2018, Innovation Finance and Odessa Technologies entered into a strategic partnership wherein Odessa Technologies would provide customized solutions to Innovation Finance to manage lease and loan accounting.
- In July 2018, LEAF Commercial Capital, Inc. selected Odessa Platform and the LeaseWave Product Suite. LEAF Commercial Capital, Inc. is thus expected to enhance equipment leasing operations with LeaseWave.
Established in 1977, Oracle Corporation provides dedicated solutions for financial management, covering multiple functions such as finance and accounting, billing, revenue recognition, financial planning, and financial reporting. Furthermore, the company has gained expertise in cloud based solutions. The company provides a solution named PeopleSoft Lease Administration for leased asset management.
Incorporated in 1998, Odessa Technologies offers lease accounting and asset management software for financial institutions. The company holds LeaseWave Product Suite, Equipment Finance, Fleet Management, and Mobility, Analytics in its product portfolio.
Global Leased Asset Management Solutions Market: Segmentation
The global leased asset management solutions market can be segmented based on:
- Enterprise Size
Global Leased Asset Management Solutions Market, by Component
Based on component, the global leased asset management solutions market can be divided into:
Global Leased Asset Management Solutions Market, by Enterprise Size
Based on enterprise size, the global leased asset management solutions market can be segregated into:
- Small & Medium Enterprise
- Large Enterprise
Regional analysis of the global leased asset management solutions market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.