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IMARC Group’s latest report, titled “Enterprise Asset Leasing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global enterprise asset leasing market size reached US$ 824.3 Billion in 2021. Enterprise asset leasing is an agreement between two parties that provides the right to use goods and other assets against periodic payments. It facilitates renting of commercial equipment, utility vehicles, real estate, and information technology (IT) hardware and software. It allows organizations to acquire movable machinery with minimum capital investment and maintenance requirements for short- and long-term durations. Moreover, it offers taxation gains, excellent profitability, enhanced production capacity, security, and inflation resistance. As a result, enterprise asset leasing has gained immense traction across the IT, telecommunication, manufacturing, automotive, construction, transportation, and logistics industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Enterprise Asset Leasing Market Trends:
The increasing number of startups coupled with rapid industrialization represents the primary factor driving market growth. Besides this, enterprise asset leasing enables organizations to rent equipment instead of purchasing it to eliminate business risks and minimize losses. In addition, there has been a significant shift toward asset leasing among small and medium-sized enterprises (SMEs) for acquiring advanced IT equipment. Along with this, the escalating demand for innovative commercial equipment to conduct business operations has accelerated the adoption of enterprise asset leasing. Furthermore, the leading players are introducing 360-degree asset leasing and rental services for fixed and mobile assets. In line with this, the launch of innovative platforms that integrate solutions for the effective management of stock, warranty, fleet operations, permits, and compliance for the equipment is positively influencing the market growth. Other factors, including the surging average price of utility vehicles, easy product availability at economical interest rates, favorable government policies, rising budgetary restrictions, and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,751.3 Billion by 2027, expanding at a CAGR of 13.45% during the forecast period (2022-2027).
Market Summary:
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