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Consumer Electronics And Appliances Rental Global Market Report 2024 - By Size, Share, Report, Outlook By 2033
The Business Research Company presents an extensive market research report on the Consumer Electronics And Appliances Rental Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The consumer electronics and appliances rental market size has grown rapidly in recent years. It will grow from $66.09 billion in 2023 to $74.18 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to economic conditions and affordability, changing consumer lifestyles, urbanization and mobility, environmental awareness, rise of the sharing economy.
The consumer electronics and appliances rental market size is expected to see rapid growth in the next few years. It will grow to $114.61 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to subscription-based business models, demand for smart and connected devices, rising consumer debt and financial constraints, flexibility and upgradability, changing housing trends. Major trends in the forecast period include e-commerce and digital platforms, technological advancements, rental services for high-end electronics, rental of smart home appliances, incorporation of IoT and connected devices.
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Key Market Players:
Major companies operating in the consumer electronics and appliances rental market report are T and T Appliances, Caterpillar Inc., Reliance Retail Limited, Aaron's Inc., Sunstate Equipment Co. LLC, Buddy's Home Furnishings Inc., American Rental, FlexShopper Inc., Mr Rental NZ Pty Ltd, Cort Business Services Corporation, BigRentz Inc., Rentex Corporation, Radio Rentals, Rent-A-Center Franchising International Inc., Cityfurnish Inc., Rent One Inc., Meeting Tomorrow Inc., SmartSource Inc., InnoVent Rental and Asset Management Solutions Ltd., Flex IT Rent BV, GSE Audiovisual Inc., Electro Rent Corporation, Rentacomputer.com Inc., Rentwise LLC, LeaseVille LLC, Rentickle Online Solutions Pvt Ltd, Red Cherry Computer Rentals Inc., Happy Rentz LLC, RentDelite Inc., Rent It Furnished Inc.
Market Drivers:
The increased dependency on electronic products is expected to propel the growth of the consumer electronics and appliance rental market going forward. In recent years, there has been a significant increase in dependence on electronic products. People are using electronic products more than ever, with the widespread availability of smartphones, laptops, tablets, and other devices. Due to various tasks, including communication, entertainment, work, education, and even health monitoring, being done through electronic products, there is an increase in demand for electronic rentals. For instance, in March 2023, according to the United Nations COMTRADE database, a US-based intergovernmental organization, Australia's electrical and electronic equipment exports totaled $3.56 billion in 2022. Additionally, in February 2022, India's export of electronic goods rose by almost 88% from $6600 million in 2013-14 to $12,400 million in 2021-22. Therefore, an increase in dependency on electronic products is driving the growth of the consumer electronics and appliance rental market.
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https://www.thebusinessresearchcompany.com/report/consumer-electronics-and-appliances-rental-global-market-report
The consumer electronics and appliances rental market covered in this report is segmented -
1) By Type: Home Appliances, Refrigerator, Air Cooler, TV (Television), Washing Machine, Others
2) By Distribution Channel: Online, Offline
3) By Application: Personal, Business
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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