Rental Industry Transformation
Today’s rental industry is undergoing a transformation as the internet of things (IoT) and telematics technologies bring valuable insight into rental equipment that is building the future from the ground up. The American Rental Association (ARA) expects the equipment rental industry to continue on an upswing reaching $59.6 billion of total revenue in 2021.
One reason for this growth is the market shift from buying and leasing equipment to renting equipment. Moving capital expenditures (CAPEX) to the operating expenses (OPEX) column gives companies more flexibility over their spending, tax deductible expenses and minimal maintenance costs. So, not only must rental companies deliver to their customers the right equipment to the right worksite at the right time, every time, but equipment that is serviced and well-maintained now becomes mission critical.
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