Rental software solutions improve the security of the data stored on servers. Traditionally, vital data is modified and destroyed in the process or storage, affecting business operations and resulting in losses. It aids in reducing data breaches by reducing security protocols. Moreover, software ensures that the data is stored on the cloud and can be retrieved 24x7, thereby ensuring optimum security. An authentication code is required when users try to obtain data, thus ensuring that the information is secure. There is also a physical security precaution to ensure that the server is not freely accessible to unauthorized individuals. Rental software also reduces the amount of time spent on rental administration, especially during peak times. A data spreadsheet will be fed with the data by the software, allowing progress to be tracked. In manual administrative tasks, the work is more prone to errors, which can be mitigated using software rental equipment software for administration. All data are automatically updated in the system, ensuring that the reports are updated frequently. As the software provides data, it will ensure that the organization has complete control over its finances, which is the most challenging task to manage. Therefore, enhanced security and accessibility for dealers are expected to fuel the equipment rental software market growth across the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe equipment rental software market. The Europe equipment rental software market is expected to grow at a good CAGR during the forecast period.
The Europe equipment rental software market is segmented based on component, deployment, organization size, end users, and country. Based on component, the Europe equipment rental software market is segmented into software and services. The software segment dominated the market in 2020 and services segment is expected to be fastest growing during forecast period. Based on deployment, the Europe equipment rental software market is segmented into on-premise and cloud-based. The cloud-based segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on organization size, the Europe equipment rental software market is segmented into SMEs and large enterprises. The large enterprises segment dominated the market in 2020 and SMEs segment is expected to be fastest growing during forecast period. Based on end user, the Europe equipment rental software market is segmented into manufacturing, construction, transportation, and others. The construction segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the Europe equipment rental software market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe.
Booqable.com; EZRentOut; HQ Rental Software; inspHire Ltd; MCS Global Ltd; Orion Software Inc.; Point of Rental; and Wynne Systems are among the leading companies operating in the Europe equipment rental software market.