The current scenario
and development in the technology represent the effective growth in the near
future of the car rental industry. The key players of this industry are doing
implicit job for developing the applications of the existing technology and are
introducing new applications with the establishment of advanced technology. According
to the report analysis, ‘Car
Rental Industry Research Report’ states that the Europe is dominating
the market of car rental industry as the European companies are doing effective
job with the IoT technology such as Hertz and will further lead to market
growth more positively. Moreover, in Europe, Vans are parked at the parking
areas of the stores and can be rented by the hour for customers to safely take
their purchases to home. Additionally, the efficient working of European key
players in this market, make the Europe market more competitive and attractive,
which can attract so many investors and advancement IoT technology paves the
way for new innovation services in the future.
With the IoT
technology the objects are being connected to the internet which allows react
autonomously to the collected data, perform computations on this data, connect
to other devices or systems to send and receive data, measure their environment
to collect data and others. Moreover, the advanced development in the
technology of IoT in this industry, eliminate the traditional way of booking
car and mostly waiting line for hours. According to the report analysis, ‘Car
Rental Market Research Reports’ states that the Western European
companies are promising for providing better consumer services and offer good
opportunities to both consumer and businessmen. The advanced development in the
technology, drivers can use their connected smart phones for unlocking the car
and with this effective feature means no losing of car keys and getting locked
out. Not only has this, the IoT technology in the rented cars enables the
workers can monitor the car’s fuel efficiency and odometer and this technology
can help in locating any vehicle in real time, which is benefitted for both the
service provider and service receiver. On a vast area, the IoT technology will
help the European car rental companies in understanding that how the customer
use their cars. With all the above applications of IoT technology in the car
rental companies lead the market growth across the globe but more efficiently
in the Europe region.
Europe is having most
prominent share in the IoT technology of the car rental industry and in the
near future it is expected that with the more advancement in this technology
will generate the highest revenue. The Hertz’s 24/7 service is accessible in a
number of European countries, including the UK and serves employees of
corporate sector with access to a pool of connected devices. Moreover, the
Orange Business Services will provide the IoT connectivity across seven European
countries which includes France, Germany, Italy, Spain, Netherlands, Belgium,
the UK and others. Hertz 24/7 also handle though retail collaboration with
IKEA, B&Q, and Costco and with several other retailers such as Leroy Merlin
and IKEA in other European countries. Therefore, it is expected that in the
forecasted period the market of car rental industry will grow more
significantly over the decades with the more development in the technology of
IoT and key players are doing effective job for providing better
experience.
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