North America Equipment Rental Software Market

The North America equipment rental software market is expected to grow from US$ 110.24 million in 2021 to US$ 175.26 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.

Loaders, excavators, skid steers, trucks, lifts, generators, and uninterruptible power supplies are among the equipment setups required by all construction companies. They need to streamline their operations to achieve maximum efficiency and versatility. As a result, renting equipment lowers fixed expenses and mitigates the financial risks of owning equipment fleets. Renting allows businesses to pay only when the equipment is needed. It reduces the ongoing costs of equipment ownership, including maintenance, in-service inspections, repairs, shipping, and storage. It also allows businesses to manage workloads at peak times without investing in new equipment. In response to the burgeoning demand for equipment on rent, dealers of these equipment fleets are adopting digital solutions for better management. Rental management software provides complete visibility into the company's entire rental department, allowing the dealers and rental companies to make informed decisions. Personalized operational and executive dashboards provide precise information on high-level key performance index (KPI) and daily tasks. By unifying job-critical information, operational dashboards increase efficiency and reduce search time. Therefore, the increased acceptance of the rental model in the construction industry is driving the equipment rental software market growth. Furthermore, the advantages of renting construction equipment are enhanced in the current economy, especially given the cyclical nature of the building business. Many contractors, building organizations, and businesses from various industries are increasingly looking into renting solutions. Many economists and business executives are expecting an economic downturn, which could increase the demand for equipment rental and push corporations away from leasing and ownership, resulting in the equipment rental software market growth across the region.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America equipment rental software market. The North America equipment rental software market is expected to grow at a good CAGR during the forecast period.     

North America Equipment Rental Software Market Revenue and Forecast to 2028 (US$ Million)

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North America Equipment Rental Software Strategic Insights

Strategic insights for the North America Equipment Rental Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Equipment Rental Software Report Scope

North America Equipment Rental Software Regional Insights

The geographic scope of the North America Equipment Rental Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Equipment Rental Software Market Segmentation       

The North America equipment rental software market is segmented based on component, deployment, organization size, end users, and country. Based on component, the North America equipment rental software market is segmented into software and services. The software segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on deployment, the North America 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 North America 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 North America 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 North America equipment rental software market is segmented into the US, Canada, and Mexico.   

BCS ProSoft, LLC; Booqable.com; eSUB, Inc.; EZRentOut; HQ Rental Software; inspHire Ltd; MCS Global Ltd; Orion Software Inc.; Point of Rental; and Wynne Systems are among the leading companies operating in the North America equipment rental software market.