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The global electronics test & measurement rental and lease market comprise the companies and end users that opt for procuring new and used general-purpose electronics test & measurement instruments through rental or lease financing options. The rental and leasing finance model provides an alternate procurement option for end users with CAPEX issues, enabling them to use electronics test-equipment without having to own the same. Higher equipment prices, concerns on asset utilization and return-on-investment, inadequacy in project budget allocation, a need to evaluate equipment performance before making purchase decisions, etc., are some of the key factors driving this market.

The demand for rental and leasing based procurement options has increased in recent times due to the economic uncertainty induced by the COVID-19 pandemic. Market participants have taken the initiative to improve the demand for such solutions by offering innovative business models such as rent-to-own and asset management services that helped broaden the serviceable market.

Furthermore, the advancements in communication technology and the rapid penetration of IoT, AI and ML integration have resulted in the emergence of a large number of product development activities across all end-user verticals and geographies.