Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "Leasing Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
Internet of things technology is widely being used by car rental and leasing companies to maintain and manage fleets. The Internet of things is a network of internet-connected objects or devices able to collect and exchange data using embedded sensors. Using IoT technology, car leasing companies can access odometer and diagnostic trouble codes (DTCs) in real time which facilitates fleet maintenance. This technology is also being used by car rental companies to check fuel level information at the point of car return, eliminating the need for staff to check fuel levels manually.
Furthermore, virtual key solutions for locking and unlocking doors help avoid the management of a large number of physical keys. For example, car rental firm Hertz is implementing IoT technology to provide keyless car rental services and manage its fleet to reduce costs.
The emergence of startups as major clients of leasing service providers is expected to drive the market. Driven by cost efficiency and the necessity to acquire advanced equipment which is often high-priced, startups have started renting or leasing their equipment. The increasing number of startups is also expected to positively impact the market.
The global leasing market grew from $1519.9 billion in 2022 to $1674.39 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The leasing market is expected to grow to $2424.62 billion in 2027 at a CAGR of 9.7%.
Asia-Pacific was the largest region in the leasing market in 2022. North America was the second-largest region in leasing market. The regions covered in the leasing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major companies in the leasing market include Enterprise Holdings Inc., Berkshire Hathaway Inc., McDonald's, Daimler AG, LeasePlan Corporation N.V., General Electric Company, United Rentals Inc., Koninklijke Ahold Delhaize N.V, Tokyo Century and Ford Motor Co.
Markets Covered:
1) By Type: Automotive Equipment Leasing; Consumer Goods And General Rental Centers; Machinery Leasing; Lessors Of Nonfinancial Intangible Assets
2) By Mode: Online; Offline
3) By Lease Type: Closed Ended Lease; Option to Buy Lease; Sub-Vented Lease; Other Lease Types
Subsegments Covered: Passenger Car Rental; Passenger Car Leasing; Truck, Utility Trailer, And RV (Recreational Vehicle) Rental And Leasing; Consumer Goods Rental; General Rental Centers; Heavy Construction Machinery Rental; Commercial Air, Rail, and Water Transportation Equipment Rental; Mining, Oil And Gas, And Forestry Machinery And Equipment Rental; Office Machinery And Equipment Rental; Other Commercial And Industrial Machinery And Equipment Rental; Oil Royalty Companies; Patent Owners And Lessors
Countries: Australia, China, Bangladesh, India, Indonesia, Japan, South Korea, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, USA, Canada, Mexico, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 400 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1674.39 billion |
| Forecasted Market Value (USD) by 2027 | $2424.62 billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Enterprise Holdings Inc
- Berkshire Hathaway Inc.
- McDonald's
- Daimler AG
- LeasePlan Corporation N.V.
- General Electric Company
- United Rentals Inc
- Koninklijke Ahold Delhaize N.V
- Tokyo Century
- Ford Motor Co.
For more information about this report visit https://www.researchandmarkets.com/r/sakpph
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
