Software Rental Service Market

Global software rental service market has witnessed significant growth in the recent years. With developments in cloud computing technology, many businesses are opting for rental software as these provide operational flexibility without large upfront capital investments. This has prompted established software vendors to offer subscription-based pricing models for their products. The cloud-based rental models allow small and medium enterprises an easy access to advanced software solutions for improving business processes. Rental services help businesses to test software solutions before making long term commitments. This lowers procurement risk and helps to optimize technology spending. With increasing connectivity and ease of accessing cloud-based services globally, global software rental market is expected to witness growth steadily in the near future

Market Dynamics:

Some of the major factors driving growth in the global software rental service market include the rising popularity of the subscribe-to-use model over outright purchases, increasing digitalization of industries, and cost advantages of rental models for SMBs and individual users. However, data security and privacy concerns regarding sensitive user information stored on leased cloud software could hamper adoption rates. The growing cloud computing industry also presents lucrative opportunities for market players to offer value-added services on rented platforms. Innovation in business models to provide pay-as-you-go pricing schemes can further boost the customer base.

Key features of the study:

• This report provides in-depth analysis of the global software rental service market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global software rental service market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Adobe Inc., Microsoft Corporation, Salesforce.com, Inc., Oracle Corporation, Intuit Inc., SAP SE, Autodesk, Inc., IBM Corporation, Dropbox, Inc., Slack Technologies, Inc., Google LLC, Zoom Video Communications, Inc., Atlassian Corporation Plc, ServiceNow, Inc., HubSpot,Inc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global software rental service market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global software rental service market

Global Software Rental Service Market Detailed Segmentation:

• By Software Type:
  • Productivity Software
  • Creative Software
  • Accounting and Finance Software
  • Customer Relationship Management (CRM) Software
  • Enterprise Resource Planning (ERP) Software
  • Project Management Software
  • Collaboration and Communication Software
  • Others
• By Subscription Model:
  • Monthly Rental
  • Annual Rental
  • Pay-as-You-Go
• By Deployment Type:
  • Cloud-based
  • On-premises
• By Enterprise Size:
  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises
• By Industry Vertical:
  • BFSI
  • IT and Telecommunication
  • Healthcare
  • Government and Education
  • Automotive
  • Others
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East &Africa
• Company Profiles:
  • Adobe Inc.
  • Microsoft Corporation
  • Salesforce.com, Inc.
  • Oracle Corporation
  • Intuit Inc.
  • SAP SE
  • Autodesk, Inc.
  • IBM Corporation
  • Dropbox, Inc.
  • Slack Technologies, Inc.
  • Google LLC
  • Zoom Video Communications, Inc.
  • Atlassian Corporation Plc
  • ServiceNow, Inc.
  • HubSpot, Inc.