The Global Lease Accounting Software Market size was accounted 596 million US$ in 2020 and it is expected to reach 1092.8 million US$ by the end of 2025, with a CAGR of 16.1% during 2021-2025.
Americas is the largest region of Lease Accounting Software in the world in the past few years and it will keep increasing in the next few years. Americas market took up about 55.7% the global market in 2018, while Europe and North America were about 28.5%, 13.8%.
Major competitors in the market include CoStar, Nakisa, MRI Software, LeaseAccelerator, Visual Lease, LeaseQuery, Deloitte, IBM, Accruent, ProLease, Tango, PowerPlan, KPMG, NomosOne and Soft4Lessee.
JULY 2020- Nakisa, announced that they are hosting a webinar together with their customer, Amer Sports, an internationally recognized sporting goods company. Amer Sports, Nakisa’s first client to adopt the Nakisa Lease Administration solution directly in the cloud, manages over 1,500 multinational leases in multiple currencies. The organization chose to work with Nakisa Lease Administration as they required a single, global lease accounting solution with native SAP integration able to meet the latest compliance standards, including IFRS 16.
Nov 2020, MRI Software (“MRI”) latest report said that Landlords who used lease concessions and lower rents to promote occupancy succeeded in their mission in October, As renters took advantage of these incentives, move-out volume dropped to 66% of October 2019’s volume.
Nov 2020, the leader in the Lease Lifecycle Automation (LLA) software market, announced several enhancements to its LLA platform that simplify and accelerate audit readiness. This upgrade provides corporate controllers with a more holistic view of their portfolio and greater insights about specific transactions, removing cost, risk, and time from closes and audits.
Roll Forward Report (RFR): This essential close process report identifies changes between opening and closing balances with drill down capabilities to review change events in the period. Commencing with the opening balance for lease accounting related ledger accounts, the balances are rolled forward by type of activity for activity during the period.
Deal Analysis Report (DAR): This report re-performs accounting calculations for each lease, at the lease inception date or upon a later inflection date, in the native currency of the lease. Instead of manually recomputing lease accounting calculations, customers can use this report to prove out the software-generated calculations
Market segmented by type, application and region. Market segment by Type, the product can be split into Cloud Based Web Based Market segment by Application, split into Large Enterprises SMEs Market segment by Regions this report covers United States Europe China Japan Southeast Asia India Central & South America. North America has registered largest share for lease accounting software and is expected to dominate during forecast period. This is attributed for North American companies are significantly shifting towards the adoption of lease arrangements solutions and sign the contracts containing lease to support their business operations. The growth of financial companies has been shown a significant development in the leasing solutions with regards to increasing new accounting standards.
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