New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Consumer Electronics And Appliances Rental Global Market Report 2023" - https://www.reportlinker.com/p06464093/?utm_source=GNW
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The global consumer electronics and appliance rental market market is expected to grow from $59.59 billion in 2022 to $67.29 billion in 2023 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The consumer electronics and appliance rental market market is expected to reach $104.60 billion in 2027 at a CAGR of 11.7%.
The consumer electronics and appliance rental market includes revenues earned from rental services of products such as ovens, dishwashers, cooker hoods, microwaves, smartphones, desktop computers, and monitors.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Consumer electronics and appliances rental refers to a service that allows individuals or businesses to rent various electronic devices and appliances for a set period. This service is provided by rental companies, which keep an inventory of devices and appliances and rent them out to customers for a fee.
Asia-Pacific was the largest region in the consumer electronics and appliances rental market in 2022. The regions covered in consumer electronics and appliance rental report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main consumer electronics and appliances rental types are home appliances, refrigerator, air cooler, tv(television), washing machine, and others.A home appliance refers to a device that aids in household tasks such as cooking, cleaning, and food storage.
The various distribution channels are online and offline applied to personal and business purposes.
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 totalled $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.
Product innovations are a key trend gaining popularity in the consumer electronics and appliance rental markets.Companies operating in the consumer electronics and appliance rental market are adopting new technologies to sustain their position in the market.
For instance, in October 2022, AOTO Electronics Co., Ltd., a China-based provider of LED display solutions, launched the ’Rental Design LED Panel-SW Series.’ It is uniquely designed to be rented out as an outdoor and indoor stage screen for events, trade shows, and theatre, and that aims to provide the perfect visual backdrop. It is suited to touring and ultra-large screen live event applications and with Quick Lock, Auto-Eject, and ergonomic handles, it allows for speedy installation and makes maintenance more convenient.
In April 2022, The Aaron’s Company, Inc., US-based leases and retail sales of furniture, electronics, and appliances, acquired BrandsMart USA for $230 million. This acquisition strengthens and expands Aaron’s access to high-quality products on affordable lease and retail purchase options to deliver strong revenue. BrandsMart USA is a retailer of appliances and consumer electronics and provides a rental/lease purchase.
The countries covered in the consumer electronics and appliance rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The consumer electronics and appliances rental market research report is one of a series of new reports that provides consumer electronics and appliances rental market statistics, including consumer electronics and appliances rental industry global market size, regional shares, competitors with a consumer electronics and appliances rental market share, detailed consumer electronics and appliances rental market segments, market trends and opportunities, and any further data you may need to thrive in the consumer electronics and appliances rental industry. This consumer electronics and appliances rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464093/?utm_source=GNW
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