PUBLISHER: The Business Research Company | PRODUCT CODE: 1706945
PUBLISHER: The Business Research Company | PRODUCT CODE: 1706945
Software rental service involves providing software applications to customers on a rental or subscription basis, allowing users to access and use the software without needing to buy permanent licenses. This service enables both businesses and individuals to utilize various software solutions-such as productivity tools, creative applications, and enterprise management systems-with greater flexibility and cost-efficiency.
The main types of software in software rental services include productivity software, creative software, accounting and finance software, customer relationship management (CRM) software, enterprise resource planning (ERP) software, project management software, collaboration and communication software, and other software types. Productivity software consists of applications designed to assist with tasks such as word processing, spreadsheets, and presentations, aimed at improving efficiency and streamlining business operations. This software is available through cloud-based and on-premise solutions, with subscription options such as monthly rental, annual rental, and pay-as-you-go. It is used by various enterprises, including small and medium-sized enterprises (SMEs) and large companies.
The software rental service market research report is one of a series of new reports from The Business Research Company that provides software rental service market statistics, including software rental service industry global market size, regional shares, competitors with a software rental service market share, detailed software rental service market segments, market trends and opportunities, and any further data you may need to thrive in the software rental service industry. This software rental service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The software rental service market size has grown strongly in recent years. It will grow from $46.16 billion in 2024 to $50.45 billion in 2025 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to the increasing adoption of cloud computing, a rise in remote work and virtual teams, growth in small and medium-sized enterprises (SMEs), demand for scalable software solutions, and an emphasis on software security and compliance.
The software rental service market size is expected to see strong growth in the next few years. It will grow to $71.38 billion in 2029 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to expanding digital transformation initiatives, increasing use of big data and analytics, rising focus on cybersecurity measures, demand for flexible subscription models, and the need for enhanced collaboration tools. Major trends in the forecast period include a rise in hybrid and multi-cloud environments, growth in software-as-a-service (SaaS) adoption, greater integration of AI in software solutions, the development of blockchain-based software services, and a focus on personalized and adaptive software solutions.
The growing adoption of cloud computing is expected to drive the growth of the software rental service market. The rise in cloud computing adoption is attributed to its ability to offer scalable, flexible, and cost-efficient computing resources and services. Cloud computing supports software rental services by providing on-demand, scalable access to software applications and infrastructure, reducing the need for upfront investments, and enabling flexible subscription-based models. For example, in June 2024, AAG IT Services, a UK-based non-governmental organization, reported that in 2022, 89% of surveyed organizations used multi-cloud solutions for their storage and workloads, while only 9% used a single public cloud and 2% relied on a single private cloud. As a result, the growing adoption of cloud computing is fueling the growth of the software rental service market.
Leading companies in the Software Rental Service Market are focusing on creating advanced solutions like online portals to improve user accessibility, simplify rental processes, and offer real-time software updates. An online portal is a web-based platform that provides users with access to various services, tools, and resources through a single interface. It often features personalized options, allowing users to manage their accounts, access content, and interact with services in real-time. For example, in July 2024, MCS Rental Software, a UK-based rental software provider, introduced an enhanced all-in-one Request Management feature as part of its MCS-RM rental software. This feature offers real-time visibility into asset locations and statuses, ensuring efficient management of rental inventory. It enables comprehensive tracking and management of inventory levels, helping businesses optimize stock. Additionally, it automates maintenance scheduling to ensure timely servicing, minimizing downtime. The system also improves inventory management through quick data entry and tracking using barcode technology, and allows users to manage bookings efficiently with a centralized reservation system.
In November 2023, Broadcom Inc., a US-based technology firm, acquired VMware LLC for $69 billion. This acquisition is intended to boost the adoption of subscription models and transform market dynamics by transitioning to subscription-based licensing, lowering prices for VMware Cloud Foundation, streamlining the product portfolio, improving support services, and offering flexible license portability. VMware LLC is a US-based technology company that includes software rental services among its offerings.
Major companies operating in the software rental service market are Alphabet Inc., Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., Adobe Inc., Intuit Inc., ServiceNow Inc., Autodesk Inc., Atlassian Corporation Plc, Zoom Video Communications Inc., Dropbox Inc., Tableau Software LLC, HubSpot Inc., Slack Technologies Inc., Box Inc., Smartsheet Inc., Monday.com Ltd., Asana Inc., Pipedrive Inc.
North America was the largest region in the software rental service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software rental service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the software rental service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The software rental service market includes revenues earned by entities by providing services such as regular updates and maintenance, data storage and backup, security and compliance, analytics, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Software Rental Service Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on software rental service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for software rental service ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The software rental service market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.