Global Car Leasing Market 2019-2023| 14% CAGR Projection Over the Next Four Years | Technavio

The research report on the global car leasing market by Technavio
predicts the market to post a CAGR of close to 14% during the
period 2019-2023.

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The global car leasing market will post a CAGR of close to 14% during the period 2019-2023. (Graphic: Business Wire)

A key driver for the global car leasing market is its
cost-effectiveness. The option to lease a car is a more economically
viable solution than buying a car. Car leasing also helps users avoid
the additional cost of regular maintenance as the car lease plan would
cover general expenses. Hence, the attractive value proposition of
leasing a car rather than purchasing it is a significant driver for the
global car leasing market.

As per Technavio, the use of telematics by car leasing companies will
have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
car leasing market 2019-2023 research report also analyzes other
important trends and market drivers that will affect market growth over
2019-2023.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Global car leasing market: Use of telematics in
leased cars

Car leasing companies have been investing heavily in advanced tracking
technologies that effectively track the location of the vehicle.
Telematics offers considerable onboard data regarding the distance and
locations traveled. Also, telematics solutions enable operators to track
the vehicle in the event of theft or an accident and send roadside
assistance. Telematics data is also used by car leasing companies to
send advisory information to the lessee to improve the vehicle's fuel
efficiency and reduce vehicle emissions. Therefore, the use of
telematics in leased cars will be one of the key trends that will drive
the car leasing market during the forecast period.

“Cars have become a necessity for small and medium-sized enterprises
(SME) to meet the personal transportation requirements of employees. As
significant capital outflow is required for effectively transporting
employees, car leasing acts as an alternative and offers various
advantages to businesses. Some of these advantages include no
maintenance cost, regular upgrading of the fleet, and no road tax. These
factors are expected to boost market growth over the forecast period,” says
a senior research analyst at Technavio.

Global car leasing market: Segmentation analysis

This research report on the car leasing market segments the market by
end-user (commercial customers and non-commercial customers) and
geography (APAC, Europe, MEA, North America, and South America).

The commercial customers segment held the largest car leasing market
share in 2018. As car leasing is more cost-effective than buying a car,
a large number of SMEs are entering into a lease agreement with car
leasing companies, which allows employees to use leased cars.

Europe accounted for the highest share of the market in 2018. However,
the APAC region is expected to surpass Europe in terms of market share
during the forecast period as the car leasing market is gaining ground
in APAC owing to its cost-effectiveness. China, India, Indonesia, and
Japan will be the major car leasing markets during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190401005057/en/