Student Devices, Security Equipment Top TEQlease Education Finance 2023 Equipment Lease Financing

CALABASAS, Calif., Jan. 23, 2024 /PRNewswire/ -- In 2023, student devices and security equipment topped school equipment categories TEQlease Education Finance leased and financed for K12 and other US schools. TEQlease Education Finance leases and finances all types of school equipment to all types of schools, nationwide.

"Student computing devices remain our top leased equipment type this year, with just over half of TEQlease origination volume coming from student chromebooks, notebooks, laptops and Apple devices" said Michael Lockwood, President of TEQlease Education Finance. "As 1-to-1 device adoption exploded during the pandemic to accommodate remote learning, schools have managed full student computer deployments, and are now contemplating device refreshes." However, schools across the country are preparing to see their budgets shift from flush to strained as billions of pandemic aid runs out in less than a year, putting at risk programs added with Covid-relief funds.

Second on the TEQlease Education Finance equipment type list is security equipment. Many schools have a mix of legacy and upgraded video surveillance systems, often needing more seamless integration and notification capabilities. "The increase in financed security systems is not surprising as school safety concerns continue to increase," continued Lockwood. "However, it isn't just video surveillance cameras and software that schools are financing, but rather a broad equipment list integrating several components of school security products." Financed security equipment can include access control systems and intrusion detection, electronic and wireless locks, credentials including key cards, key fobs and mobile devices, environmental and motion sensors, video surveillance, alarm and emergency systems, metal detectors and weapons detection systems, cyber-security software, and increased wireless access.

According to a comprehensive research report by Market Research Future (MRFR), "School and Campus Security Market, By Type, By Hardware & Software – Forecast 2030", the market will touch USD 8.85 billion at a 19.6% CAGR by 2030.

TEQlease Education Finance specializes in providing best-in-class equipment lease financing solutions for public, private, charter and religious schools across the United States. TEQlease Education Finance focuses on providing unparalleled service and on lowering acquisition finance costs, working with customers and equipment vendors through the entire equipment acquisition financing process. TEQlease Education Finance is a division of TEQlease Capital, founded in 2000 in Calabasas, California. For more information, visit https://www.teqlease.com/education_equipment_financing.

Contact: 
Jessie Ngo
[email protected]

SOURCE TEQlease Capital