In today’s times, information technology (IT) plays an important role in different aspects of life. When it comes to businesses, IT helps manage inventory, streamline checkout and control many other operations effectively and efficiently. IT equipment can be pretty expensive and purchasing new devices and updating them from time to time may not be feasible for small businesses. This is when IT leasing and financing can be of help. Businesses can lease expensive equipment and manage their day-to-day operations more competently. They can improve communication with employees, customers and suppliers, maintain records easily, and boost marketing and sales. IT leasing also helps businesses use the latest innovations at economical rates. It only requires fixed monthly payments for the duration mentioned in the lease agreement.
Startups and small business often opt for leasing and financing of IT equipment to use the latest devices and operate their business efficiently, without investing huge capital. Report analysts believe that the global market for IT leasing and financing will reach US$ 660 billion by 2025. Many businesses also lease computer equipment to free up their working capital and use the resources in other areas. Leasing also makes updating equipment easier. With frequent advances in technology, new units become obsolete after a period of time. When you own them, selling the old units and purchasing new ones can be a major financial burden for small businesses. Therefore, leasing proves to be the most viable and economical option.
Global IT Leasing And Financing market expected to reach 660900 million US$ by the end of 2025, with a CAGR of 13.8% during 2018-2025.
Prominent market players
Avid Technology, FL Studio, PreSonus Audio Electronics, Ableton, Steinberg Media Technologies, Magix, Cakewalk, Adobe, Propellerhead Software, Apple, NCH Software, Cockos, Acon Digital
The global market for IT leasing and financing is bifurcated into types and applications.
Based on types, the market is divided into hardware, software, and service. Leasing allows you to use the best computer hardware and software in your business, without shelling out a huge sum of money.
Based on applications, the market is divided into listed companies, government agency, small and medium companies, and others. Companies in different sectors are making use of IT equipment leasing and financing to obtain what the business needs without exhausting the working capital and running into debts.
The important regions taken into consideration for analyzing the market for IT leasing and financing include North America (The United States and Canada), Europe (UK and Germany), Asia-Pacific (India, China, Japan and Southeast Asia), Latin America (Brazil and Mexico), and rest of the world.
North America is the largest national IT equipment leasing and financing market, holding the global market share of about 35%. There has been a strong growth for leasing in China too, making it the second-largest market. The United Kingdom is in the third place, while Germany occupies the fourth position. After North America, Europe is an important region and its leasing and financing market is expected to grow at a good CAGR over the forecast period.
With more and more businesses opting for IT leasing and financing, its market size is expected to increase at a good pace and reach US$ 660900 million by the end of 2025.
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