The "US Rent to Own Market: Insights and Forecast (2022-2027)" report has been added to ResearchAndMarkets.com's offering. The US rent to own market is forecasted to exhibit a favorable outlook in the...
Autore: Business Wire
DUBLIN: The "US Rent to Own Market: Insights and Forecast (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The US rent to own market is forecasted to exhibit a favorable outlook in the upcoming years, driven by factors such as tightened lending standards among major and subprime lenders. Additionally, the demand for essential items like appliances and computers is expanding and expected to grow further. In 2023, the US rent to own market is projected to reach a substantial value of US$11.95 billion, with a remarkable compound annual growth rate (CAGR) of 6.77% during the forecast period.
Segmentation Overview: The report provides an in-depth analysis of the US rent to own market through two key segments:
Top Impacting Factors:
Growth Drivers:
Challenges:
Trends:
Driver: Significant Population of International Migrants
The US has seen an influx of international migrants seeking better employment and education opportunities. This population prefers renting homes and major household items, like furniture, due to the transient nature of their circumstances. This trend has significantly boosted the rent to own market over the past decade.
Challenge: Dependency on Vendors, Suppliers, and Products
The reliance on third-party data vendors and potential inaccuracies or delays in receiving information can impact business operations. Additionally, issues related to product safety and quality control, including product recalls, can harm a company's reputation and finances.
Trend: Rapid Pace in Technological Advancements
Technological advancements have accelerated across industries, including the rent-to-own sector. The demand for advanced technology among US consumers drives the industry to adopt new platforms and software to enhance customer experiences and services.
Analysis of Key Players
The US rent to own market features a diverse landscape with numerous players dominating the industry. Key players include The Aaron's Company, Inc., Rent-A-Center Inc., goeasy Ltd., Co-Ownership Organization, EZ Furniture Sales & Leasing, and many more.
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Rent-To-Own: An Overview
2.1.3 Components of the Rent-To-Own Agreement
3. The US Market Analysis
3.1 The US Rent to Own Market: An Analysis
3.2 The US Rent to Own Market: Distribution Channel Analysis
4. Impact of COVID-19
4.1 Impact of COVID-19
4.1.1 The Economic Effects of COVID-19
4.1.2 Response of Industry Players to COVID-19
4.1.3 Post COVID-19 Scenario
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Spike in Urbanization
5.1.2 Significant Population of International Migrants
5.1.3 Surging GDP Growth
5.1.4 Rising Disposable Income
5.1.5 Growing Millennial Population
5.1.6 Rising Virtual Rent-to-Own Market
5.2 Challenges
5.2.1 Dependency on Vendors, Suppliers and Products
5.2.2 Lack of Customer Security
5.2.3 Low Profit Margin
5.3 Market Trends
5.3.1 Hike in Internet Penetration
5.3.2 Rollout of Smartphone as New Category
5.3.3 Rapid Pace in Technological Advancements
6. Competitive Landscape
6.1 The US Rent to Own Market Players Comparison
6.2 The US Rent to Own Market Players by Number of Stores
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/xe6lnu
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Fonte: Business Wire