Construction Segment to Dominate MEA Equipment Rental Software Market During 2021–2028   

According to a new market research study on “MEA 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$ 29.71 million by 2028 from US$ 20.07 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the MEA 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 MEA equipment rental software market. However, growing acceptance of leasing hinder the growth of MEA equipment rental software market.         

The MEA equipment rental software market is segmented based on component, deployment, organization size, end users, and country. Based on component, the MEA 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 MEA 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 MEA 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 MEA 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 MEA equipment rental software market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.     

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 MEA 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 2021, Point of Rental Software expands its operations in South Africa, as it one of the company's growth strategies; the company is targeting providers of business intelligence software solutions in Sub-Saharan Africa. 

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