Market to Reach $223 Billion by the End of 2022
Vehicle leasing addresses the challenges companies face in meeting their mobility needs, including funding, fleet maintenance, and handling residual risk. In the current market conditions, companies big and small must focus on their core products and services, so they look to outsource all other support activities, including mobility, which requires significant resources in terms of money and time. From fleet purchases to re-marketing at a better price, and for each intermediary segment in the value chain, issues such as unnecessary cost spikes, utilization mismatches, irregularities in fleet maintenance, and the risk of dips in residual value can crop up. As such, corporates prefer leasing their fleets as a hassle-free service with benefits including on-demand mobility and after-service facilities. This demand has driven growth and provided the leasing market with structure and a regulated ecosystem.
The evolution of any industry depends on transformational trends that are linked to regional macroeconomic factors and the emerging business models that reflect innovation. This study analyzes transformational trends, such as electric vehicle (EV) leasing, private vehicle leasing, used car leasing, and car subscription mobility models. Other trends, such as small and mid-sized enterprise (SME) leasing, fleet connectivity, and digitization (blockchain in the leasing industry) are also discussed. For leasing providers and other companies involved in the leasing ecosystem, important growth opportunities and the strategic imperatives that will aid their pursuit of growth and success are presented. Overall, the study provides a 360-degree understanding of the global vehicle leasing space (region-specific) and offers details on key trends, overall market dynamics, and future outlooks.
