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Equipment Finance Services Market to Reach $3,083.8 Billion, Globally, by 2032 at 9.7% CAGR: Allied Market Research

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The rise in technological advancements, evolving consumer preferences and demands for flexible financing options and value-added services, and growth in trend towards sustainability and environmental consciousness to offer green financing solutions drive the growth of the equipment finance services market.

PORTLAND, Ore., March 4, 2024 /PRNewswire/ — Allied Market Research published a report, titled, ‘Equipment Finance Services Market by Type (Equipment Loan, Equipment Lease, and Others), Provider (Banks, NBFCs, and Others), and Application (Transportation, Aviation, IT and Telecom, Manufacturing, Healthcare, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032′. According to the report, the global equipment finance services market was valued at $1.2 trillion in 2022, and is projected to reach $3.1 trillion by 2032, growing at a CAGR of 9.7% from 2023 to 2032.

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287– Pages157– Tables54– Charts

Prime determinants of growth

The equipment finance services market is driven by technological advancements such as AI, blockchain, and IoT, which revolutionize the asset management and financing processes, thereby attracting both providers and consumers toward equipment finance solutions. Furthermore, evolving consumer preferences and demands for flexible financing options and value-added services drive the market growth. However, regulatory compliance and economic uncertainties restrain the equipment finance services market growth. On the contrary, the growing trend towards sustainability and environmental consciousness to offer green financing solutions is raising the demand for eco-friendly equipment and practices. Moreover, partnerships and collaborations across industries enable equipment finance companies to leverage complementary expertise and resources, expanding their market reach and enhancing their service offerings to meet diverse customer needs in the upcoming years.

Report Coverage

Details

Forecast Period

2022–2032

Base Year

2022

Market Size in 2022

$1.2 trillion

Market Size in 2032

$3.1 trillion

CAGR

9.7 %

Segments Covered

Type, Provider, Application, and Region.

Drivers

Rise in technological advancements

Consumer preferences and demands for flexible financing options

Opportunities

Growth in trend toward sustainability and environmental consciousness

 

The equipment loan segment to maintain its leadership status throughout the forecast period

By type, the equipment loan segment held the highest market share in 2022, accounting for more than two-thirds of the global equipment finance services market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing demand for modernized equipment across various industries, coupled with favorable financing terms and accessibility for businesses of all sizes. Moreover, the need for flexible repayment options and the potential tax benefits associated with equipment loans further contribute to its expansion. However, the equipment lease segment is projected to manifest the highest CAGR of 12.3% from 2023 to 2032. This is attributed to the fact that it offers businesses the flexibility to acquire necessary equipment without a substantial upfront investment, preserving capital for other operational expenses or investments. Furthermore, leasing allows businesses to access the latest equipment technology without the burden of ownership, enabling them to remain competitive and adaptable to evolving industry standards and customer demands.

The banks segment to maintain its leadership status throughout the forecast period

By provider, the banks segment held the highest market share in 2022, accounting for more than two-thirds of the global equipment finance services market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that banks possess substantial financial resources, enabling them to offer competitive rates and terms to borrowers. Furthermore, their established reputation and credibility inspire trust among customers, attracting businesses seeking reliable financing partners. Bank’s extensive networks and distribution channels allow them to reach a broader customer base, including small and medium-sized enterprises (SMEs) and large corporations alike. However, the NBFCs segment is projected to manifest the highest CAGR of 11.9% from 2023 to 2032, owing to their agile decision-making processes and streamlined operations enabling quicker loan approvals and disbursements, appealing to customers seeking expedited financing.

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The transportation segment to maintain its leadership status throughout the forecast period

By application, the transportation segment held the highest market share in 2022, accounting for around one-fourth of the global equipment finance services market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing global trade and commerce necessitating the expansion and modernization of transportation infrastructure, including fleets of trucks, ships, and aircraft, driving the demand for financing solutions to acquire new vehicles and equipment. However, the healthcare segment is projected to manifest the highest CAGR of 14.4% from 2023 to 2032. This is attributed to the technological advancements in medical equipment, such as advanced imaging systems, robotic surgery systems, and telemedicine solutions, which are driving the demand for equipment upgrades and replacements to enhance patient care and operational efficiency.

North America to maintain its dominance by 2032

By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the equipment finance services market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the technological advancements that are driving the demand for updated equipment across various industries, necessitating flexible financing options to facilitate equipment acquisition in the region. However, Asia-Pacific is expected to witness the fastest CAGR of 13.1% from 2023 to 2032. This is attributed to the rapid industrialization and urbanization in countries such as China, India, and Southeast Asian nations, thereby fueling the demand for modern equipment across various sectors, including manufacturing, construction, and infrastructure development.

Leading Market Players: –

The PNC Financial Services Group, Inc.Keystone Equipment Finance Corp.JPMorgan Chase & Co.Crest CapitalFirst-Citizens Bank & Trust CompanyOnDeckBank of America CorporationWells FargoBalboa CapitalSmarter Finance USA

The report provides a detailed analysis of these key players in the global equipment finance services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the equipment finance services market analysis from 2022 to 2032 to identify the prevailing equipment finance services market opportunity.Market research is offered along with information related to key drivers, restraints, and opportunities.The Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.In-depth analysis of the equipment finance services market segmentation assists to determine the prevailing equipment finance services market opportunities.Major countries in each region are mapped according to their revenue contribution to the market.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.The report includes the analysis of the regional as well as equipment finance services market trends, key players, market segments, application areas, and market growth strategies.

Equipment Finance Services Market Report Highlights :

By Type

Equipment LoanEquipment LeaseOthers

By Provider

BanksNBFCsOthers

By Application

TransportationAviationIT and TelecomManufacturingHealthcareConstructionOthers

By Region

North America (U.S., Canada)Europe (UK, Germany, France, Italy, Spain, Rest of Europe)Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)Latin America (Brazil, Argentina, Rest of Latin America)Middle East and Africa (Gcc Countries, South Africa, Rest of Middle East And Africa)

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Orion Innovation Names Brian Bronson Chief Executive Officer

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Technology Industry Executive and Leader to Drive Next Phase of Company Growth

EDISON, N.J., Nov. 15, 2024 /PRNewswire/ — Orion Innovation (“Orion”), a leading digital transformation and product development services firm, today announced the appointment of Brian Bronson as Chief Executive Officer, effective immediately. With over 25 years of leadership experience across global technology sectors, Bronson will lead Orion’s next phase of growth and transformation, focusing on expanding the company’s digital capabilities and market presence. Brian succeeds Raj Patil, who will transition to an advisory role with the company and One Equity Partners.

“Brian’s impressive track record of driving profitable growth and leading large-scale organizational transformation makes him the ideal leader for Orion’s next chapter,” said Carlo Padovano, Partner at One Equity Partners and Lead Director of Orion Innovation. “His deep expertise in product engineering, GenAI adoption, and digital transformation perfectly aligns with our vision for Orion’s future.

On behalf of the Orion Board, I’d like to thank Raj for his leadership and dedication in helping develop Orion into a market leader. Raj will transition to an advisory role with the company and One Equity Partners.”

“I’m honored to take on this role and excited about the tremendous opportunities ahead for Orion,” said Bronson. “The company has built an impressive foundation with a blue-chip roster of clients, a global delivery platform, and a talented team with deep domain and engineering expertise. I look forward to working closely with our employees, clients, and partners as we deliver transformative solutions to our clients, drive innovation, and scale our capabilities.”

Before joining Orion, Brian served as EVP of US Telecom, Media, and Entertainment at Capgemini. Additionally, he led the integration and execution of Capgemini’s global engineering services business across the Americas and Asia. This included driving growth in many industries leveraging innovative capabilities tied to 5G, connectivity, and software product engineering. Previously, as President & CEO of Radisys, a leading provider of open telecom solutions, he led the company’s strategic transformation from a hardware company to a provider of cutting-edge software and enabling technologies for the telecom, technology, and medical industries. This transformation culminated in the sale of Radisys to Reliance Industries in 2018, marking a successful exit for the company.

About Orion Innovation

Orion Innovation (“Orion”) is a leading digital transformation and product development services firm. Rooted in engineering and design thinking, along with a unique combination of agility, scale, and maturity, its team of approximately 6,400 associates helps Fortune 1000 companies improve efficiencies, enhance customer experiences, and develop new digital offerings. Through its delivery centers in North America, EMEA, India and Latin America, Orion serves clients across Telecom, Media & Technology, Sports & Entertainment, Professional Services, Financial Services, and Healthcare industries. For more information, visit www.orioninc.com

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

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Morrison Securities launches one of Australia’s first plug-and-play global trading to 15 countries with ViewTrade

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SYDNEY, Nov. 15, 2024 /PRNewswire/ — Equities clearing business Morrison Securities (“Morrison”) is launching one of Australia’s first plug-and-play global trading to 15 countries with trading technology provider ViewTrade.

This will mean Morrison’s 38,000+ active clients trading $30 billion annually will only need to go through KYC once and then will be provided unprecedented rapid global trading access.

Morrison will now also offer enhanced global equity and options trading, fixed income, ETFs, seamlessly integrate domestic and global trading, and choice between fully disclosed or omnibus operating models.

ViewTrade has calculated that implementation of solutions like this across all of Australia’s global trading could generate efficiencies of nearly $240 million annually.

A business the size of Morisson launching this solution is a watershed moment for enhancing global opportunities for Australia’s wealth management sector, according to ViewTrade.

Nigel Singh, CEO of ViewTrade International Australia, said: “We are excited to work with Morrison Securities. Together, we are unlocking a world of investment opportunities for Australians. By accessing global markets, firms can offer their clients more diversified portfolios, reducing risk and protecting wealth. This benefits both domestic and international clients. We invite other firms to join us in this partnership and unlock the potential of global market access.”

William Slack, CEO of Morrison Securities, said: “We’ve designed a solution that integrates global market access into our domestic offering for a superior customer experience. With our combined expertise, we’re confident in delivering an efficient, scalable solution tailored to the specific needs of our clients.”

Laksh Gangwani, Chief Revenue Officer – APAC and Middle East at ViewTrade, added: “We are thrilled about the partnership with Morrison Securities as they launch one of Australia’s first plug-and-play global trading solutions to 15 countries. Morrison’s integrated approach to technology, compliance, and operations is enabling investors to complete KYC once, while accessing multiple markets and asset classes with ease. This will ensure Australian investors can build diversified international portfolios with ease.”

ViewTrade (www.viewtrade.com) is a global leader in investment and trading infrastructure solutions that power cross-border investing for financial services firms throughout the world. ViewTrade provides the technology, support, and brokerage services that business innovators need to launch or enhance retail investing experiences. For more than 20 years, ViewTrade has partnered with over 300 clients – from technology startups to large banks, brokers and advisors – to deliver innovative investment solutions and exceptional customer service.

Morrison Securities (https://www.morrisonsecurities.com/) Established in 1985, Morrison Securities is an Australian Broking firm specialising in trading, execution, and clearing services tailored to advisory firms and wholesale clients. They partner with firms to navigate operational challenges and help them realise their full potential. Their comprehensive suite of solutions covers seamless international market access, advanced equities and options trading, capital raising and DVP settlement services, integrated APIs, and stock lending. With a platform-agnostic approach and enterprise-level client service, they prioritise operational excellence and long-term partnerships.

 

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SOURCE ViewTrade

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Australia’s least-favourite chores just got easier with Roborock’s Black Friday & Cyber Monday deals

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SYDNEY, Nov. 15, 2024 /PRNewswire/ — Roborock, the global best-selling robot vacuum brand[i], is thrilled to announce its exclusive deals for Black Friday and Cyber Monday 2024.

Starting from 21 November to 4 December 2024, Roborock is offering significant discounts on a wide range of popular models, with savings of up to $700 – including popular models such as the S8 MaxV Ultra, Qrevo MaxV, Q8 Max+, Qrevo Master, Qrevo S, and Flexi Pro.

In a recent survey conducted across Australia, Roborock found that 27% of Australians would happily skip cleaning their floors forever, with many Aussies also admitting to neglecting high-maintenance tasks such as vacuuming, mopping, and appliance cleaning. With these cleaning challenges in mind, Roborock is offering unbeatable savings on popular models across Black Friday and Cyber Monday, with savings of up to $700.

The deals are available at Robrock Australia’s Official Online Store, Roborock’s Amazon storefront and all authorised retailers.

 Black Friday & Cyber Monday Deals

S8 MaxV Ultra – (SAVE $700) – MSRP $2,999 / Promo: $2,299The S8 MaxV Ultra is the company’s most powerful one-stop cleaning solution, combining the company’s most sophisticated deep cleaning technology with user-friendly features. The model introduces a unique robotic arm and an extra mop that efficiently cleans challenging areas with complete corner cleaning capabilities. Newly launched.Qrevo Master – (SAVE $700) – MSRP $2,699 / Promo: $1,999Newly launched and the most advanced model in the mid-range Qrevo series, the Qrevo Master is built for those who seek top-of-the-line cleaning technology at a mid-range price point. With high-powered suction, deep corner cleaning capabilities, and complete self-maintenance features, it’s designed to tackle the toughest cleaning challenges effortlessly.

Qrevo MaxV – (SAVE $700) – MSRP $2,199 / Promo: $1,499Offers users a complete hands-free floor cleaning experience at the mid-range price point, taking both vacuuming and mopping off your plate while combining powerful cleaning functions, self-maintenance capabilities, and intelligent features such – as pet recognition from flagship models – into one convenient cleaning package.

Qrevo S – (SAVE $400) – MSRP $1,499 / Promo: $1,099Newly launched, the Qrevo S is ideal for those looking for their first robot vacuum that excels at both vacuuming and mopping with self-maintenance features. It blends cleaning performance with a streamlined design for everyday cleaning.

Q8 Max+ – (SAVE $500) – MSRP $1,299 / Promo: $799The Q8 Max+ delivers high-performance cleaning with enhanced navigation and automatic dirt disposal. It’s equipped with powerful suction and a flagship roller brush system making it perfect for homes with mainly hard floors, ensuring a deep and thorough clean.

Flexi Pro – (SAVE $300) – MSRP $999 / Promo: $699 (Available starting 14th November)The Flexi Pro is a versatile handheld vacuum option designed for deep floor cleaning and tight spaces. Capable of handling both wet and dry messes, and the ability to clean itself after every clean-up, the Flexi Pro tackles all types of messes with ease.

According to Roborock’s recent survey, garages are the dirtiest spaces in Australian homes, with 46% of respondents admitting they need more attention. Other problem areas include bathrooms (41%), kitchens (38%), and even kids’ playrooms (32%). Given the demands of busy lives, it’s easy to see why some chores fall through the cracks.

With these exclusive Black Friday and Cyber Monday offers, Roborock makes it easier than ever for Aussies to maintain a clean and comfortable home – without the hassle. Whether it’s tackling neglected garages, high-traffic kitchens, or hard-to-reach corners in the bathroom, Roborock’s innovative products are ready to take on the task.

For more information on Roborock products, please visit https://au.roborock.com  

-ENDS-

Notes to Editors: 

The Roborock survey was conducted by TGM Research and involved 1,028 nationally representative respondents across Australia. The survey aimed to understand the cleaning habits, preferences, and challenges faced by Australians ahead of the launch of Roborock’s Qrevo Master, Qrevo S and H5. 

About Roborock     

Roborock is a leading smart cleaning brand renowned for its intelligent cleaning solutions. With a steadfast dedication to becoming a global leading smart appliance player, Roborock enriches liveswith its innovative line of robotic, cordless, wet/dry vacuum cleaners, and washer-dryers. Rooted in a user-centric approach, our R&D-driven solutions cater to diverse cleaning needs in over 15 million homes across 170+ countries.  Headquartered in Beijing and with strategic subsidiaries in key markets, including the United States, Japan, the Netherlands, Poland, Germany, and South Korea, Roborock is dedicated to elevating its market presence worldwide. For more information, visit https://au.roborock.com/.    

[i] [1] The data comes from Euromonitor International (Shanghai) Co., Ltd. The sales figures of robotic vacuum cleaners worldwide in the first three quarters of 2023 (in RMB hundred million) were used for calculation. Roborock ranks first in the industry. Robotic vacuum cleaner refers to vacuum cleaners that automatically move around rooms using sensors to clean floors. The research was completed in February 2024.

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SOURCE Roborock

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