Report : Asia Pacific Equipment Rental Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Software and Services), Deployment (On-Premise and Cloud-Based), Organization Size (Small and Medium Enterprises and Large Enterprises), and End Users (Manufacturing, Construction, Transportation, and Others)
Large Enterprise Segment to Dominate APAC Equipment Rental Software Market During 2021–2028
According to a new market research study on “APAC Equipment Rental Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Deployment, Organization Size, and End Users” is expected to reach US$ 95.59 million by 2028 from US$ 51.13 million in 2021. The market is estimated to grow at a CAGR of 9.3% from 2021 to 2028. The report provides trends prevailing in the APAC equipment rental software market along with the drivers and restraints pertaining to the market growth. Growth in demand for construction in power sector and IoT & predictive analysis are the major factor driving the growth of the APAC equipment rental software market. However, growing acceptance of leasing hinder the growth of APAC equipment rental software market.
The APAC equipment rental software market is segmented based on component, deployment, organization size, end users, and country. Based on component, the APAC equipment rental software market is segmented into software and services. The software segment dominated the market in 2020 and services segment is expected to be fastest growing during forecast period. Based on deployment, the APAC equipment rental software market is segmented into on-premise and cloud-based. The cloud-based segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on organization size, the APAC equipment rental software market is segmented into SMEs and large enterprises. The large enterprises segment dominated the market in 2020 and SMEs segment is expected to be fastest growing during forecast period. Based on end user, the APAC equipment rental software market is segmented into manufacturing, construction, transportation, and others. The construction segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the APAC equipment rental software market is segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
Booqable.com; EZRentOut; HQ Rental Software; inspHire Ltd; MCS Global Ltd; Orion Software Inc.; and Point of Rental are among the leading companies in the APAC equipment rental software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Elev8 Australia Pty Ltd, which is inspHire software reseller, acquired by the inspHire software business from Elev8 Australia Pty Ltd, providing fantastic opportunities to expand their presence in the Australian market.
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