Cloud-based Segment to Dominate Europe Equipment Rental Software Market During 2021–2028   

According to a new market research study on “Europe 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$ 123.58 million by 2028 from US$ 80.51 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the Europe equipment rental software market along with the drivers and restraints pertaining to the market growth. Expansion of construction industry and enhanced security and accessibility for dealers are the major factor driving the growth of the Europe equipment rental software market. However, growing acceptance of leasing hinder the growth of Europe equipment rental software market.      

The Europe equipment rental software market is segmented based on component, deployment, organization size, end users, and country. Based on component, the Europe 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 Europe 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 Europe 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 Europe 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 Europe equipment rental software market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe.   

Booqable.com; EZRentOut; HQ Rental Software; inspHire Ltd; MCS Global Ltd; Orion Software Inc.; Point of Rental; and Wynne Systems are among the leading companies in the Europe 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 2020, Orion Software has announced a deal with Telus to sell and commercialize GPS technology to supplement its rental services. Rental companies can use the Sirius e platform to update their meters in real time, invoicing overuse and triggering preventive maintenance alerts. The customer portal's web portal can also locate equipment in the field on a construction site. This integration with Telus technology provides a significant deployment benefit. Rental companies can get a standard technology that works on all equipment brands and is very simple to install. 

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