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Consumer Electronics And Appliances Rental Market Report 2024: Strategies And Recent Developments By The Business Research Company
Consumer Electronics And Appliances Rental
The Business Research Company offers in-depth market insights through Consumer Electronics And Appliances Rental Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Consumer Electronics And Appliance Rental Market Set To Surge With Growing Demand
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.
Competitive Landscape:
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.
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https://www.thebusinessresearchcompany.com/report/consumer-electronics-and-appliances-rental-global-market-report
Top Trend - A Groundbreaking Automated Platform For Consumer Electronics And Appliance Rental
Major companies operating in the consumer electronics and appliance rental market are adopting new technological innovations, such as automated platforms for renting, to better serve their target customers. An automated platform for renting refers to a digital system or online marketplace that leverages automation technologies to facilitate and streamline the process of renting goods or services. For instance, in May 2023, Telerenta, a Romania-based technology company, launched an automated platform for renting and delivering electronic equipment to home users. This platform, called RentBox, is the first of its kind in Southeast Europe and allows users to rent electronic equipment, such as TVs, through a fully digitized and flexible process.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Consumer Electronics And Appliances Rental Market Characteristics
3. Consumer Electronics And Appliances Rental Market Trends And Strategies
4. Consumer Electronics And Appliances Rental Market - Macro Economic Scenario
5. Consumer Electronics And Appliances Rental Market Size And Growth
…..
27. Consumer Electronics And Appliances Rental Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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