DECEMBER 20194The rental industry has rapidly emerged as a popular, fast-expanding, and offers ample number of opportunities to entrepreneurs. The market was valued at $19 billion in 2017 and is expected to be $59.4 billion by 2022. It has positive implications; some of which includes increased convenience, resource utilization, job creation, digital transformation. Renting itself is not a new phenomenon. Car, bike, video, furniture and book rentals are quite commonplace. The process of renting has been, for the most part, fragmented. The business is now not just taking a more structured form but also expanding to include everything from clothes and accessories to even sharing of financial resources and, in a rare case, pets.The tech-savvy, travel-enthusiasts youth generation is more likely to rent things ­ house, cars, bikes, etc. - instead of buying, as it is a more practical & cost-effective way to use resources. In fact, a study found that most users of online rental marketplaces are below 35. Thanks to the horde of such start-ups that have mushroomed in India in the past few years, letting users rent, use and return products at low as five percent of product's actual cost and for any duration. With the rent market now booming, many of these start-ups are looking to leverage this opportunity to serve this growing market.Interestingly, these start-ups are provising a one-stop rental solution for furniture and other home appliances, other products across various categories like bikes, laptops, cars, music instruments, and electronic items on rent through its technology platform. In our current edition, we have featured a list of "10 Best Online Rental Startups". The list consists of new age start-ups that are exploring endless possibilities in the segment and making renting a time-saving and convenient activity for all. We also recommend you to read our cover story on Rentlite, a company that enables complete office furniture solutions for the urban corporate. Do let us know your thoughts...Nandini MukherjeeManaging EditorStartups are contributing to the growth of Rent EconomyEDITOR'S NOTE Vol 5 · Issue 11 - 2 · December, 2019 Publisher Alok Chaturvedi Managing Editor Nandini Mukherjee Editorial Team Aparna Roy Monica Pallavi J Rajan Sarma Riya Sethi Sales & Marketing Arya Madan D S Editorial Queries editor@startupcity.com To subscribe Visit www.siliconindia.com/subscribe Cover price is Rs. 150 per issue.Printed and Published By Alok Chaturvedi on behalf of Siliconmedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017. Editor Alok ChaturvediCopyright © 2019 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.sales@startupcity.comGroup Art Director Ashok KumarCirculation Manager Magendran PerumalVisualisers Mohana Krishnan S.SivasankarSr. Manager Sales & Marketing Virupakshi Pattarsiliconindia
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