The equipment leasing software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Equipment Leasing Software Market, 2024 report by The Business Research Company
offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The equipment leasing software market size has grown rapidly in recent years.
It will grow from $0.77 billion in 2023 to $0.86 billion in 2024 at a compound
annual growth rate (CAGR) of 11.7%. The growth in the historic period can be
attributed to cloud computing, integration capabilities, accounting standards,
compliance requirements, competitive pressure, customer expectations, and globalization.
The equipment leasing software market size is expected to see rapid growth in
the next few years. It will grow to $1.35 billion in 2028 at a compound annual
growth rate (CAGR) of 11.9%. The growth in the forecast period can be
attributed to demand for operational efficiency, global economic conditions,
shift to subscription-based models, emergence of mobility solutions, focus on
customer experience, and environmental and sustainability initiatives. Major
trends in the forecast period include automation and AI integration, data
analytics and insights, blockchain integration, partnerships and ecosystem
expansion, and flexibility and customization.
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Scope Of Equipment Leasing Software Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Equipment Leasing Software Market Overview
Market Drivers -
The increasing adoption of cloud-based solutions is expected to propel the
growth of the equipment leasing software market. Cloud-based solutions refer to
services and applications hosted on remote servers, accessible via the Internet,
offering scalability and flexibility. The increasing adoption of cloud-based
solutions is due to their scalability, cost-effectiveness, and ease of access
from any location. Equipment leasing software leverages cloud-based solutions
for enhanced accessibility, real-time data synchronization, and seamless
collaboration across multiple locations and devices. For instance, in December
2023, according to Eurostat, a Luxembourg-based intergovernmental organization,
around 45.2% of EU enterprises utilized cloud computing services, primarily for
email hosting, file storage, and various operational tasks, with a notable
increase of 4.2 percentage points from 2021. The most sought-after services
included email hosting (82.7%), file storage (68.0%), office software (66.3%),
security applications (61.0%), finance or accounting software (51.6%), and
enterprise database hosting (43.0%). Therefore, the increasing adoption of
cloud-based solutions is driving the growth of the equipment leasing software
market.
Market Trends -
Major companies operating in the equipment leasing software market are focusing
on innovative lease portfolio management solutions to streamline operations and
enhance financial performance. Lease portfolio management solutions in
equipment leasing software refer to software systems that facilitate the
tracking, optimizing, and analyzing a company's leased equipment assets. For
instance, in May 2022, SOFT4Leasing, a Lithuania-based automotive leasing
software company, launched SOFT4Leasing version SL62, tailored for efficient
lease portfolio management and streamlined leasing operations. This update
brings numerous enhancements, fresh features, and bug fixes, enriching the
software's functionality and user experience. Notably, the customer portal now
stands as a standalone application, empowering customers to conveniently access
contract details, invoices, credit notes, statements, and payment plans while
facilitating direct communication. It offers comprehensive equipment leasing
solutions, serving asset finance and leasing entities, including equipment
manufacturers, distributors, and automotive dealers. With automation
capabilities, data integrity assurance, and compliance adherence, the software
optimizes leasing processes, mitigates errors, and enhances operational
efficacy.
The equipment leasing software market covered in this report is segmented –
1) By Product Type: Invoice Management, Lease Application Management, Lease
Document Management, Origination Management
2) By Deployment: Hosted, On-Premise
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises
4) By Sales Channel: Direct Channel, Distribution Channel
5) By Vertical: Agriculture, Construction, Manufacturing, Medical And
Biotechnology, Transportation And Logistics
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Regional Insights -
North America was the largest region in the equipment leasing software market
in 2023. Asia-Pacific is expected to be the fastest-growing region in the
forecast period. The regions covered in the equipment leasing software market
report are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies operating in the equipment leasing software market are
International Business Machines Corporation, Oracle Corporation, SAP SE,
Constellation Software Inc., CoStar Group, Visual Lease LLC, Odessa
Technologies Inc., Alfa Systems Private Limited, Cloud Lending Solutions,
NETSOL Technologies Inc., LeaseQuery (FinQuery), Nakisa Inc., LeaseAccelerator,
LTi Technology Solutions, ECS Financial Services India Pvt. Ltd., Ivory
Consulting Corporation, Cassiopia Software Pvt. Ltd., Dominion Leasing Software
LLC, Soft4Leasing, Tamarack Consulting LLC, ILease Management LLC, Leasify,
AMTdirect, LOIS Software
Table of Contents
1. Executive Summary
2. Equipment Leasing Software Market Report Structure
3. Equipment Leasing Software Market Trends And Strategies
4. Equipment Leasing Software Market – Macro Economic Scenario
5. Equipment Leasing Software Market Size And Growth
…..
27. Equipment Leasing Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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