Car rental industry is
providing so many solutions to the customers for making the market more
profitable. The numerous car rental companies are providing mobile tablet
technology that digitizes rental transactions and eliminates administrative
bottlenecks at rental counters. However unsurprisingly, this industry is a
multibillion dollar industry across the globe as the car rental industry have
realized that they are now not only operating to serve access to care but
rather have to focus on mobility solutions. The industry of car rental is
segmented on the basis of types of vehicles, location, regions, market size and
several others. According to the report analysis, ‘car rental industry research and market reports’ states that
the growing digitalization, advancement in the technologies, industrialization
has fueling the landscape of the car rental industry and the users are
currently looking for fulfilling variety of needs besides than just fulfilling
one. With the further development in the technology the car rental industry is
expected to grow more significantly as the increase in mobility, companies have
come up with car pooling and car sharing mechanism which makes the market more
effective and competitive.
In a research, it is
observed that the car rental industry has immense growth in the near future and
with the more development in the mobility the car rental industry is consisting
a combination of pickup and drop location, rental period, car type and even
refueling option. Moreover, the global car rental industry is anticipated to
grow at a cagr of 13.7% and reach an approximate market value of usd 127.0
billion in the near future. Moreover, the industry of car rental is proving a
dynamic shift and more companies can offer variety of applications to address
their corporate clients need. According to the report analysis, ‘market research reports for car rental’
states that the global rental industry has been encountering a major
transformation over the last few years and the positive impact of information
technology in the industry has driven the transformation of the car rental
facilities. The major operators are significantly increasing with the undergoing
mergers and acquisitions for acquiring a handsome amount of share across the
globe in the near future. Moreover, with the growing gdp rates and increase in
the levels of income across the globe are also expected to drive the car rental
market more positively in the forecasted period. Therefore, in the near future
with the emerging economies the mobility in the car rental industry is growing
which will make the market more aggressive.
The north america
region is most prominent region in this market and with north america, the
europe is constituted around 62.4% share across the globe. Moreover, the north
america is expected to remain most effective region alone across the globe and
acquire highest share in forecasted period around the globe. The key player of
asia pacific region is investing more in developing the mobility of various
technology which result in dominating the handsome amount of share in the near
future across the globe and the technological advancements coupled with
enlarging of leading car rental companies in the under develop regions, such as
latin america.
The hertz corporation,
enterprise holdings inc., ai futtaim group, europcar group s.a., avis budget
group, inc., and others are the major key payers across the globe. Moreover, the
enterprise is the major leading player across the globe and make the market
more competitive and effective which further lead to market growth and will
welcome the new investors which will support the market financially. Therefore,
in the coming years it is expected that the car rental industry will grow more
significantly over the decades with the more development in the technology will
lead to mobility in the car rental industry.
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