Global Capital Lease Industry Market Research Report

1 Capital Lease Introduction and Market Overview

• 1.1 Objectives of the Study
• 1.2 Definition of Capital Lease
• 1.3 Capital Lease Market Scope and Market Size Estimation
  • 1.3.1 Market Concentration Ratio and Market Maturity Analysis
  • 1.3.2 Global Capital Lease Value ($) and Growth Rate from 2017-2027
• 1.4 Market Segmentation
  • 1.4.1 Types of Capital Lease
  • 1.4.2 Applications of Capital Lease
  • 1.4.3 Research Regions
    • 1.4.3.1 North America Capital Lease Production Value ($) and Growth Rate (2017-2022)
    • 1.4.3.2 Europe Capital Lease Production Value ($) and Growth Rate (2017-2022)
    • 1.4.3.3 China Capital Lease Production Value ($) and Growth Rate (2017-2022)
    • 1.4.3.4 Japan Capital Lease Production Value ($) and Growth Rate (2017-2022)
    • 1.4.3.5 Middle East & Africa Capital Lease Production Value ($) and Growth Rate (2017-2022)
    • 1.4.3.6 India Capital Lease Production Value ($) and Growth Rate (2017-2022)
    • 1.4.3.7 South America Capital Lease Production Value ($) and Growth Rate (2017-2022)
• 1.5 Market Dynamics
  • 1.5.1 Drivers
    • 1.5.1.1 Emerging Countries of Capital Lease
    • 1.5.1.2 Growing Market of Capital Lease
  • 1.5.2 Limitations
  • 1.5.3 Opportunities
• 1.6 Industry News and Policies by Regions
  • 1.6.1 Industry News
  • 1.6.2 Industry Policies

2 Industry Chain Analysis

• 2.1 Upstream Raw Material Suppliers of Capital Lease Analysis
• 2.2 Major Players of Capital Lease
  • 2.2.1 Major Players Manufacturing Base and Market Share of Capital Lease in 2021
  • 2.2.2 Major Players Product Types in 2021
• 2.3 Capital Lease Manufacturing Cost Structure Analysis
  • 2.3.1 Production Process Analysis
  • 2.3.2 Manufacturing Cost Structure of Capital Lease
  • 2.3.3 Raw Material Cost of Capital Lease
  • 2.3.4 Labor Cost of Capital Lease
• 2.4 Market Channel Analysis of Capital Lease
• 2.5 Major Downstream Buyers of Capital Lease Analysis

3 Global Capital Lease Market, by Type

• 3.1 Global Capital Lease Value ($) and Market Share by Type (2017-2022)
• 3.2 Global Capital Lease Production and Market Share by Type (2017-2022)
• 3.3 Global Capital Lease Value ($) and Growth Rate by Type (2017-2022)
• 3.4 Global Capital Lease Price Analysis by Type (2017-2022)

4 Capital Lease Market, by Application

• 4.1 Global Capital Lease Consumption and Market Share by Application (2017-2022)
• 4.2 Downstream Buyers by Application
• 4.3 Global Capital Lease Consumption and Growth Rate by Application (2017-2022)

5 Global Capital Lease Production, Value ($) by Region (2017-2022)

• 5.1 Global Capital Lease Value ($) and Market Share by Region (2017-2022)
• 5.2 Global Capital Lease Production and Market Share by Region (2017-2022)
• 5.3 Global Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)
• 5.4 North America Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)
• 5.5 Europe Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)
• 5.6 China Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)
• 5.7 Japan Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)
• 5.8 Middle East & Africa Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)
• 5.9 India Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)
• 5.10 South America Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

6 Global Capital Lease Production, Consumption, Export, Import by Regions (2017-2022)

• 6.1 Global Capital Lease Consumption by Regions (2017-2022)
• 6.2 North America Capital Lease Production, Consumption, Export, Import (2017-2022)
• 6.3 Europe Capital Lease Production, Consumption, Export, Import (2017-2022)
• 6.4 China Capital Lease Production, Consumption, Export, Import (2017-2022)
• 6.5 Japan Capital Lease Production, Consumption, Export, Import (2017-2022)
• 6.6 Middle East & Africa Capital Lease Production, Consumption, Export, Import (2017-2022)
• 6.7 India Capital Lease Production, Consumption, Export, Import (2017-2022)
• 6.8 South America Capital Lease Production, Consumption, Export, Import (2017-2022)

7 Global Capital Lease Market Status and SWOT Analysis by Regions

• 7.1 North America Capital Lease Market Status and SWOT Analysis
• 7.2 Europe Capital Lease Market Status and SWOT Analysis
• 7.3 China Capital Lease Market Status and SWOT Analysis
• 7.4 Japan Capital Lease Market Status and SWOT Analysis
• 7.5 Middle East & Africa Capital Lease Market Status and SWOT Analysis
• 7.6 India Capital Lease Market Status and SWOT Analysis
• 7.7 South America Capital Lease Market Status and SWOT Analysis

8 Competitive Landscape

• 8.1 Competitive Profile
• 8.2 JP Morgan Chase
  • 8.2.1 Company Profiles
  • 8.2.2 Capital Lease Product Introduction
  • 8.2.3 JP Morgan Chase Production, Value ($), Price, Gross Margin 2017-2022
  • 8.2.4 JP Morgan Chase Market Share of Capital Lease Segmented by Region in 2021
• 8.3 BNP Paribas Leasing Solutions
  • 8.3.1 Company Profiles
  • 8.3.2 Capital Lease Product Introduction
  • 8.3.3 BNP Paribas Leasing Solutions Production, Value ($), Price, Gross Margin 2017-2022
  • 8.3.4 BNP Paribas Leasing Solutions Market Share of Capital Lease Segmented by Region in 2021
• 8.4 Sumitomo Mitsui Finance and Leasing
  • 8.4.1 Company Profiles
  • 8.4.2 Capital Lease Product Introduction
  • 8.4.3 Sumitomo Mitsui Finance and Leasing Production, Value ($), Price, Gross Margin 2017-2022
  • 8.4.4 Sumitomo Mitsui Finance and Leasing Market Share of Capital Lease Segmented by Region in 2021
• 8.5 HSBC Bank
  • 8.5.1 Company Profiles
  • 8.5.2 Capital Lease Product Introduction
  • 8.5.3 HSBC Bank Production, Value ($), Price, Gross Margin 2017-2022
  • 8.5.4 HSBC Bank Market Share of Capital Lease Segmented by Region in 2021
• 8.6 Wells Fargo Equipment Finance
  • 8.6.1 Company Profiles
  • 8.6.2 Capital Lease Product Introduction
  • 8.6.3 Wells Fargo Equipment Finance Production, Value ($), Price, Gross Margin 2017-2022
  • 8.6.4 Wells Fargo Equipment Finance Market Share of Capital Lease Segmented by Region in 2021
• 8.7 Banc of America Leasing & Capital
  • 8.7.1 Company Profiles
  • 8.7.2 Capital Lease Product Introduction
  • 8.7.3 Banc of America Leasing & Capital Production, Value ($), Price, Gross Margin 2017-2022
  • 8.7.4 Banc of America Leasing & Capital Market Share of Capital Lease Segmented by Region in 2021

9 Global Capital Lease Market Analysis and Forecast by Type and Application

• 9.1 Global Capital Lease Market Value ($) & Volume Forecast, by Type (2022-2027)
  • 9.1.1 Banks Market Value ($) and Volume Forecast (2022-2027)
  • 9.1.2 Financing Institutions Market Value ($) and Volume Forecast (2022-2027)
• 9.2 Global Capital Lease Market Value ($) & Volume Forecast, by Application (2022-2027)
  • 9.2.1 TMT (Technology, Media and Telecom) Market Value ($) and Volume Forecast (2022-2027)
  • 9.2.2 Automotive Market Value ($) and Volume Forecast (2022-2027)
  • 9.2.3 Construction machinery Market Value ($) and Volume Forecast (2022-2027)
  • 9.2.4 Medical devices Market Value ($) and Volume Forecast (2022-2027)
  • 9.2.5 ECI (Energy, Chemicals and Infrastructure) Market Value ($) and Volume Forecast (2022-2027)
  • 9.2.6 Aviation Market Value ($) and Volume Forecast (2022-2027)
  • 9.2.7 Shipping Market Value ($) and Volume Forecast (2022-2027)
  • 9.2.8 Manufacturing industries Market Value ($) and Volume Forecast (2022-2027)
  • 9.2.9 Other Market Value ($) and Volume Forecast (2022-2027)

10 Capital Lease Market Analysis and Forecast by Region

• 10.1 North America Market Value ($) and Consumption Forecast (2022-2027)
• 10.2 Europe Market Value ($) and Consumption Forecast (2022-2027)
• 10.3 China Market Value ($) and Consumption Forecast (2022-2027)
• 10.4 Japan Market Value ($) and Consumption Forecast (2022-2027)
• 10.5 Middle East & Africa Market Value ($) and Consumption Forecast (2022-2027)
• 10.6 India Market Value ($) and Consumption Forecast (2022-2027)
• 10.7 South America Market Value ($) and Consumption Forecast (2022-2027)

11 New Project Feasibility Analysis

• 11.1 Industry Barriers and New Entrants SWOT Analysis
• 11.2 Analysis and Suggestions on New Project Investment

12 Research Finding and Conclusion

13 Appendix

• 13.1 Discussion Guide
• 13.2 Knowledge Store: Maia Subscription Portal
• 13.3 Research Data Source
• 13.4 Research Assumptions and Acronyms Used

List of Tables and Figures

Figure Product Picture of Capital Lease

Table Product Specification of Capital Lease

Figure Market Concentration Ratio and Market Maturity Analysis of Capital Lease

Figure Global Capital Lease Value ($) and Growth Rate from 2017-2027

Table Different Types of Capital Lease

Figure Global Capital Lease Value ($) Segment by Type from 2017-2022

Figure Banks Picture

Figure Financing Institutions Picture

Table Different Applications of Capital Lease

Figure Global Capital Lease Value ($) Segment by Applications from 2017-2022

Figure TMT (Technology, Media and Telecom) Picture

Figure Automotive Picture

Figure Construction machinery Picture

Figure Medical devices Picture

Figure ECI (Energy, Chemicals and Infrastructure) Picture

Figure Aviation Picture

Figure Shipping Picture

Figure Manufacturing industries Picture

Figure Other Picture

Table Research Regions of Capital Lease

Figure North America Capital Lease Production Value ($) and Growth Rate (2017-2022)

Figure Europe Capital Lease Production Value ($) and Growth Rate (2017-2022)

Table China Capital Lease Production Value ($) and Growth Rate (2017-2022)

Table Japan Capital Lease Production Value ($) and Growth Rate (2017-2022)

Table Middle East & Africa Capital Lease Production Value ($) and Growth Rate (2017-2022)

Table India Capital Lease Production Value ($) and Growth Rate (2017-2022)

Table South America Capital Lease Production Value ($) and Growth Rate (2017-2022)

Table Emerging Countries of Capital Lease

Table Growing Market of Capital Lease

Figure Industry Chain Analysis of Capital Lease

Table Upstream Raw Material Suppliers of Capital Lease with Contact Information

Table Major Players Manufacturing Base and Market Share ($) of Capital Lease in 2021

Table Major Players Capital Lease Product Types in 2021

Figure Production Process of Capital Lease

Figure Manufacturing Cost Structure of Capital Lease

Figure Channel Status of Capital Lease

Table Major Distributors of Capital Lease with Contact Information

Table Major Downstream Buyers of Capital Lease with Contact Information

Table Global Capital Lease Value ($) by Type (2017-2022)

Table Global Capital Lease Value ($) Share by Type (2017-2022)

Figure Global Capital Lease Value ($) Share by Type (2017-2022)

Table Global Capital Lease Production by Type (2017-2022)

Table Global Capital Lease Production Share by Type (2017-2022)

Figure Global Capital Lease Production Share by Type (2017-2022)

Figure Global Capital Lease Value ($) and Growth Rate of Banks

Figure Global Capital Lease Value ($) and Growth Rate of Financing Institutions

Figure Global Capital Lease Price by Type (2017-2022)

Table Global Capital Lease Consumption by Application (2017-2022)

Table Global Capital Lease Consumption Market Share by Application (2017-2022)

Figure Global Capital Lease Consumption Market Share by Application (2017-2022)

Table Downstream Buyers Introduction by Application

Figure Global Capital Lease Consumption and Growth Rate of TMT (Technology, Media and Telecom) (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Automotive (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Construction machinery (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Medical devices (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of ECI (Energy, Chemicals and Infrastructure) (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Aviation (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Shipping (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Manufacturing industries (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Other (2017-2022)

Table Global Capital Lease Value ($) by Region (2017-2022)

Table Global Capital Lease Value ($) Market Share by Region (2017-2022)

Figure Global Capital Lease Value ($) Market Share by Region (2017-2022)

Table Global Capital Lease Production by Region (2017-2022)

Table Global Capital Lease Production Market Share by Region (2017-2022)

Figure Global Capital Lease Production Market Share by Region (2017-2022)

Table Global Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

Table North America Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

Table Europe Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

Table China Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

Table Japan Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

Table Middle East & Africa Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

Table India Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

Table South America Capital Lease Production, Value ($), Price and Gross Margin (2017-2022)

Table Global Capital Lease Consumption by Regions (2017-2022)

Figure Global Capital Lease Consumption Share by Regions (2017-2022)

Table North America Capital Lease Production, Consumption, Export, Import (2017-2022)

Table Europe Capital Lease Production, Consumption, Export, Import (2017-2022)

Table China Capital Lease Production, Consumption, Export, Import (2017-2022)

Table Japan Capital Lease Production, Consumption, Export, Import (2017-2022)

Table Middle East & Africa Capital Lease Production, Consumption, Export, Import (2017-2022)

Table India Capital Lease Production, Consumption, Export, Import (2017-2022)

Table South America Capital Lease Production, Consumption, Export, Import (2017-2022)

Figure North America Capital Lease Production and Growth Rate Analysis

Figure North America Capital Lease Consumption and Growth Rate Analysis

Figure North America Capital Lease SWOT Analysis

Figure Europe Capital Lease Production and Growth Rate Analysis

Figure Europe Capital Lease Consumption and Growth Rate Analysis

Figure Europe Capital Lease SWOT Analysis

Figure China Capital Lease Production and Growth Rate Analysis

Figure China Capital Lease Consumption and Growth Rate Analysis

Figure China Capital Lease SWOT Analysis

Figure Japan Capital Lease Production and Growth Rate Analysis

Figure Japan Capital Lease Consumption and Growth Rate Analysis

Figure Japan Capital Lease SWOT Analysis

Figure Middle East & Africa Capital Lease Production and Growth Rate Analysis

Figure Middle East & Africa Capital Lease Consumption and Growth Rate Analysis

Figure Middle East & Africa Capital Lease SWOT Analysis

Figure India Capital Lease Production and Growth Rate Analysis

Figure India Capital Lease Consumption and Growth Rate Analysis

Figure India Capital Lease SWOT Analysis

Figure South America Capital Lease Production and Growth Rate Analysis

Figure South America Capital Lease Consumption and Growth Rate Analysis

Figure South America Capital Lease SWOT Analysis

Figure Top 3 Market Share of Capital Lease Companies

Figure Top 6 Market Share of Capital Lease Companies

Table Mergers, Acquisitions and Expansion Analysis

Table Company Profiles

Table Product Introduction

Table JP Morgan Chase Production, Value ($), Price, Gross Margin 2017-2022

Figure JP Morgan Chase Production and Growth Rate

Figure JP Morgan Chase Value ($) Market Share 2017-2022

Figure JP Morgan Chase Market Share of Capital Lease Segmented by Region in 2021

Table Company Profiles

Table Product Introduction

Table BNP Paribas Leasing Solutions Production, Value ($), Price, Gross Margin 2017-2022

Figure BNP Paribas Leasing Solutions Production and Growth Rate

Figure BNP Paribas Leasing Solutions Value ($) Market Share 2017-2022

Figure BNP Paribas Leasing Solutions Market Share of Capital Lease Segmented by Region in 2021

Table Company Profiles

Table Product Introduction

Table Sumitomo Mitsui Finance and Leasing Production, Value ($), Price, Gross Margin 2017-2022

Figure Sumitomo Mitsui Finance and Leasing Production and Growth Rate

Figure Sumitomo Mitsui Finance and Leasing Value ($) Market Share 2017-2022

Figure Sumitomo Mitsui Finance and Leasing Market Share of Capital Lease Segmented by Region in 2021

Table Company Profiles

Table Product Introduction

Table HSBC Bank Production, Value ($), Price, Gross Margin 2017-2022

Figure HSBC Bank Production and Growth Rate

Figure HSBC Bank Value ($) Market Share 2017-2022

Figure HSBC Bank Market Share of Capital Lease Segmented by Region in 2021

Table Company Profiles

Table Product Introduction

Table Wells Fargo Equipment Finance Production, Value ($), Price, Gross Margin 2017-2022

Figure Wells Fargo Equipment Finance Production and Growth Rate

Figure Wells Fargo Equipment Finance Value ($) Market Share 2017-2022

Figure Wells Fargo Equipment Finance Market Share of Capital Lease Segmented by Region in 2021

Table Company Profiles

Table Product Introduction

Table Banc of America Leasing & Capital Production, Value ($), Price, Gross Margin 2017-2022

Figure Banc of America Leasing & Capital Production and Growth Rate

Figure Banc of America Leasing & Capital Value ($) Market Share 2017-2022

Figure Banc of America Leasing & Capital Market Share of Capital Lease Segmented by Region in 2021

Table Global Capital Lease Market Value ($) Forecast, by Type

Table Global Capital Lease Market Volume Forecast, by Type

Figure Global Capital Lease Market Value ($) and Growth Rate Forecast of Banks (2022-2027)

Figure Global Capital Lease Market Volume and Growth Rate Forecast of Banks (2022-2027)

Figure Global Capital Lease Market Value ($) and Growth Rate Forecast of Financing Institutions (2022-2027)

Figure Global Capital Lease Market Volume and Growth Rate Forecast of Financing Institutions (2022-2027)

Table Global Market Value ($) Forecast by Application (2022-2027)

Table Global Market Volume Forecast by Application (2022-2027)

Figure Global Capital Lease Consumption and Growth Rate of TMT (Technology, Media and Telecom) (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Automotive (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Construction machinery (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Medical devices (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of ECI (Energy, Chemicals and Infrastructure) (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Aviation (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Shipping (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Manufacturing industries (2017-2022)

Figure Global Capital Lease Consumption and Growth Rate of Other (2017-2022)

Figure Market Value ($) and Growth Rate Forecast of Other (2022-2027)

Figure Market Volume and Growth Rate Forecast of Other (2022-2027)

Figure North America Market Value ($) and Growth Rate Forecast (2022-2027)

Table North America Consumption and Growth Rate Forecast (2022-2027)

Figure Europe Market Value ($) and Growth Rate Forecast (2022-2027)

Table Europe Consumption and Growth Rate Forecast (2022-2027)

Figure China Market Value ($) and Growth Rate Forecast (2022-2027)

Table China Consumption and Growth Rate Forecast (2022-2027)

Figure Japan Market Value ($) and Growth Rate Forecast (2022-2027)

Table Japan Consumption and Growth Rate Forecast (2022-2027)

Figure Middle East & Africa Market Value ($) and Growth Rate Forecast (2022-2027)

Table Middle East & Africa Consumption and Growth Rate Forecast (2022-2027)

Figure India Market Value ($) and Growth Rate Forecast (2022-2027)

Table India Consumption and Growth Rate Forecast (2022-2027)

Figure South America Market Value ($) and Growth Rate Forecast (2022-2027)

Table South America Consumption and Growth Rate Forecast (2022-2027)

Figure Industry Resource/Technology/Labor Importance Analysis

Table New Entrants SWOT Analysis

Table New Project Analysis of Investment Recovery

The Capital Lease market revenue was xx.xx Million USD in 2017, grew to xx.xx Million USD in 2021, and will reach xx.xx Million USD in 2027, with a CAGR of x.x% during 2022-2027. Based on the Capital Lease industrial chain, this report mainly elaborates the definition, types, applications and major players of Capital Lease market in details. Deep analysis about market status (2017-2022), enterprise competition pattern, advantages and disadvantages of enterprise products, industry development trends (2022-2027), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Capital Lease market.
The Capital Lease market can be split based on product types, major applications, and important regions.

Major Players in Capital Lease market are:
JP Morgan Chase
BNP Paribas Leasing Solutions
Sumitomo Mitsui Finance and Leasing
HSBC Bank
Wells Fargo Equipment Finance
Banc of America Leasing & Capital

Major Regions that plays a vital role in Capital Lease market are:
North America
Europe
China
Japan
Middle East & Africa
India
South America
Others

Most important types of Capital Lease products covered in this report are:
Banks
Financing Institutions

Most widely used downstream fields of Capital Lease market covered in this report are:
TMT (Technology, Media and Telecom)
Automotive
Construction machinery
Medical devices
ECI (Energy, Chemicals and Infrastructure)
Aviation
Shipping
Manufacturing industries
Other

There are 13 Chapters to thoroughly display the Capital Lease market. This report included the analysis of market overview, market characteristics, industry chain, competition landscape, historical and future data by types, applications and regions.

Chapter 1: Capital Lease Market Overview, Product Overview, Market Segmentation, Market Overview of Regions, Market Dynamics, Limitations, Opportunities and Industry News and Policies.

Chapter 2: Capital Lease Industry Chain Analysis, Upstream Raw Material Suppliers, Major Players, Production Process Analysis, Cost Analysis, Market Channels and Major Downstream Buyers.

Chapter 3: Value Analysis, Production, Growth Rate and Price Analysis by Type of Capital Lease.

Chapter 4: Downstream Characteristics, Consumption and Market Share by Application of Capital Lease.

Chapter 5: Production Volume, Price, Gross Margin, and Revenue ($) of Capital Lease by Regions (2017-2022).

Chapter 6: Capital Lease Production, Consumption, Export and Import by Regions (2017-2022).

Chapter 7: Capital Lease Market Status and SWOT Analysis by Regions.

Chapter 8: Competitive Landscape, Product Introduction, Company Profiles, Market Distribution Status by Players of Capital Lease.

Chapter 9: Capital Lease Market Analysis and Forecast by Type and Application (2022-2027).

Chapter 10: Market Analysis and Forecast by Regions (2022-2027).

Chapter 11: Industry Characteristics, Key Factors, New Entrants SWOT Analysis, Investment Feasibility Analysis.

Chapter 12: Market Conclusion of the Whole Report.

Chapter 13: Appendix Such as Methodology and Data Resources of This Research.