Car Rental Market Research Report
Global Car Rental Market Size, Share and Industry Analysis Report
The GMI Research anticipates that the Car Rental Market will undergo an increase in demand over the forecast period. This is because of the implementation of efficient customer information management as well as the introduction of easier applications for internet booking and a continuous switch in consumers' choices.
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Introduction of the Car Rental Market
Car rental means hiring automobiles for a shorter duration of time, normally for a few hours to weeks, through car leasing or renting companies. The market is normally organized with enormous local branches of agencies located near busy city areas, airports enabling both online as well as offline reservations.
Key Players of Market:
• NetEase, Inc.
• Machine Zone, Inc.
• Activision Blizzard, Inc.
• Zynga Inc.
• Warner Bros. Entertainment Inc.
• Kabam Games, Inc.
• Electronic Arts Inc.
• Supercell Ltd
Car Rental Market Dynamics
The mounting population, accelerating number of international air passengers, as well as the escalating volume of native tourists are exacerbating the growth of the global car rental market size. In addition, the travel and tourism industry is predicted to witness a growing demand during the forecast period. Also, the accelerating penetration of smartphones and aggravating reliability of users on smartphones to sustain a variety of activities conventionally by personal computers has modified the car rental experience for customers. Thus, enhancing the accessibility of extensive demand-oriented movability solutions. For example, In accordance with the World Travel and Tourism Council (WTTC), the tourism sector witnessed an annual growth of 3.5% in 2019, which is accounted for 10.3 % of the world's GDP offering approximately 330 million jobs throughout the nation. Also, as per the Global Car Rental Market Report, the aggravating innovations by leading market players such as Uber, Avis, and Sixt SE introduced their mobile apps to enable customers to choose vehicles from a portfolio and perform bookings, thereby stimulating the market growth.
Application Segment Drivers
Based on the application, Entertainment is predicted to maintain its supremacy over the coming years. This is because of the surging consciousness concerned with the interactive entertainment systems among players throughout the world, resulting in robust endorsement of games for entertainment.
The mounting number of domestic and international business trips and vacations across different countries are driving the Car Rental Market Size. However, the Asia Pacific region will register notable growth during the coming years. This is because of the aggravation in travel and tourism and rising accessibility of high-end luxury as well as economy vehicles, primarily across emerging nations.
Car Rental Market Segmentation:
Segmentation by Region:
o United Kingdom
o Rest of Europe
• Asia Pacific
o Rest of APAC
• North America
o United States of America
o South Africa
o Saudi Arabia
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