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 $3 TRILLION BY 2021
Asia Pacific was the largest region in the leasing market in 2017, accounting for one-third of the market share.
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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.
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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 comprises establishments that provide the use of a wide variety of tangible goods such as consumer goods, industrial machinery and equipment, automobiles and others and assign intangible assets such as trademarks to customers in return for a periodic rental or lease payment. Leasing industry in The Business Research Company’s report is segmented into automotive equipment rental and leasing; consumer goods and general rental centers; lessors of non financial intangible assets; and machinery rental.
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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