IT Leasing & Financing Market Growth Report, 2028, by Key Players: Adobe, Avid Technology, Ableton, Cockos & Magix | Radiant Insights, Inc.
SAN FRANCISCO, June 17, 2020 /PRNewswire/ -- The IT Leasing and Financing Market is anticipated to achieve significant revenue share by 2028. Leasing is an important and exclusively used source of financing. It allows entities, from multinationals to start-ups to acquire the right to use equipment, property, and plant without considering large initial cash outlays. IT leasing requires regular payments for the duration of lease agreement. Whereas, IT financing is the use of IT equipment on a rental or lease basis.
Drivers and Restraints
Increasing budget flexibility and equipment decommissioning or disposal services will drive overall industry growth in the forecast period. In addition, benefits associated such as a faster approval process, protection against obsolescence, and a means to balance project cost with benefits will thrust business outlook in the near future. Factors such as competitive pressures, currency fluctuations, and high commodity prices will show a negative impact on overall industry growth.
IT leasing and financing industry is segmented based on type, application, sales channel, and region.
Based on type, the industry is categorized into service, hardware, and software. Software segment is expected to account for the largest revenue share and continue its dominance over the forecast period. The segment is expected to gain momentum owing to its rising demand from key manufacturers like Dell Technologies Inc. Thus, leasing allows the deployment of IT resources such as software and hardware in business, without bombarding a gigantic sum of money.
Based on the applications, the industry is categorized into a government agency, listed companies, small and medium enterprises (SMEs), and others. SMEs segment is anticipated to account for the largest revenue share and continue its dominance over the forecast period. The high growth is attributable to rising use of modern technology and operates their business professionally without any huge investment. These enterprises are the backbone of economy and exclusively use external financing sources like equity capital and debt to finance their activities. The finance is not directly provided by banks in terms of traditional loans but rather by factoring or leasing industries. This, in turn, will escalate industry demand in the forecast period.
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Based on the sales channel, the industry is categorized into distribution channel and direct channel.
Geographically, the industry is categorized into Middle East & Africa,North America, South America, Europe, and Asia Pacific.
Globally, North America is anticipated to remain dominant with significant revenue share in the forecast period. The high growth is attributable to increased investment in software and telecommunication systems coupled with rising demand from the end-user verticals. Also, the presence of major players in the region will boost industrial growth in the forecast period. The U.S. is a major consumer in this region as any changes in the U.S. may affect the development trend of IT leasing and financing in the forecast period.
Asia Pacific and Europe followed North America. Asia Pacific is expected to witness the fastest growth rate over the forecast period owing to the presence of economies like India, China, and Japan. In addition, developing specifications of the technologies to gain significant industry revenue and employing the intellectual workforce are expected to show a positive impact on overall business outlook. Europe is anticipated to witness a lucrative growth rate over the projected period owing to the presence of economies like Germany as it is the fourth largest market across the globe.
The prominent players of IT leasing and financing market include Acon Digital, Avid Technology, Cockos, FL Studio, NCH Software, PreSonus Audio Electronics, Apple, Ableton, Propellerhead Software, Steinberg Media technologies, Adobe, Magix, and Cakewalk. These players are efficiently forming the policies after analyzing both quantitative and qualitative factors of the market. Moreover, rising R&D activities, mergers and acquisitions, joint ventures, and partnerships are the factors that will play an important role in generating significant revenue in the coming years.
Access 120 page research report with TOC on "Global IT Leasing And Financing Market" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/2013-2028-report-on-global-it-leasing-and-financing-market
This report provides detailed historical analysis of global market for IT Leasing And Financing from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the IT Leasing And Financing market.
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