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(USGovernment-News.Com, November 20, 2018 ) With the rise in mobile phone and internet penetration, online portals and mobile applications are widely being used to rent or lease goods. These mobile applications and online portals consist of an interface that enables users to view products and choose the desired one to be rented. The online leasing portals may offer various types of products or specialize in a single product. Major products being widely offered for lease through online portals include electronics, furniture, appliances, cameras, automobiles and others. According to PricewaterhouseCoopers, around 44% of US adults are familiar with the sharing economy which includes leasing and global revenues for this market is expected to increase from $15 billion in 2014 to $335 billion by 2025.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL LEASING MARKET TO GROW TO MORE THAN $2.5 TRILLION BY 2021
Asia Pacific was the largest region in the leasing market in 2017, accounting for one-third of the market share.
According to The Business Research Company’s Consultant, Nitin Gianchandani, hospitals and healthcare facilities are increasingly renting medical equipment to avoid huge investments in the purchase of scarcely used medical equipment. Many healthcare services companies are avoiding making investments in medical equipment which might not be used to its full potential as these investments are instead being used to develop other areas of the business.
Enterprise Holdings Inc. was the biggest player in the leasing market in 2017, with revenues of $21 billion in 2016. The company’s growth strategy is to expand its foot print in the global car leasing services market through strategic acquisitions. For instance, in June 2017, the company acquired Vride; a US based vanpooling company for undisclosed amount. In July 2013, Enterprise Holdings completed the acquisition of Zimride, an online service provider in the US that connects drivers, passengers, partners and corporate campuses to facilitate sustainable transportation solutions.
The leasing services market is segmented into Automotive Equipment Rental And Leasing, Consumer Goods And General Rental Centers, Machinery Rental and Lessors of Nonfinancial Intangible Assets.
Automotive Equipment Rental And Leasing market segment comprises establishments that rent out or lease of passenger cars, trucks, utility vehicles, trailers, recreational vehicles.
Consumer Goods And General Rental Centers market segment comprises establishments rent-out of consumer electronics, electrical appliances, home health equipment, recreational goods, formal clothes and costumes, and other goods.
Machinery Rental Market segment comprises establishments that rent out or lease machinery and equipment related to construction, mining, forestry, transportation, offices, other commercial and industrial machinery.
Lessors of Nonfinancial Intangible Assets assign rights to assets such as trademarks, patents, brand names, franchise agreements for which a royalty payment or licensing fee is paid to the asset holder.
Leasing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office, the price is $1500 and $2000 if you wish to use across a multinational company.
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