Learning Beyond Books: India's Experiential Learning Market Redefines Education: Ken Research

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Experiential learning solutions in India hold immense potential as they cater to a vast market of ~200 Mn children. The industry is projected to experience a remarkable growth of over three times its current size in the future.

STORY OUTLINE

• The e-learning industry in India has experienced 60x growth, with a remarkable increase in the number of subscribers from 2015 to 2020.
• Technology is reshaping education by enabling interactive and hybrid learning approaches, enhancing classroom engagement.
• The Indian government is actively promoting online learning through various initiatives, integrating digital pedagogy into the long-term education strategy.
• Government initiatives like DIKSHA, PM eVIDYA, SWAYAM, and National Education Policy 2020 are driving the growth of online education in India.
• Enterprises like Byju's and Adda247 are forging partnerships and making acquisitions to stay competitive and enhance infrastructure, expanding access to quality education.

While e-learning had been growing rapidly in recent years, India is now witnessing an e-learning boom since the pandemic emerged. The e-learning experience so far has thrown up some issues and directions for the future of online education. The industry experienced a remarkable growth of 60 times in the number of subscribers from year 2015 to 2020. The Indian government envisions and is actively shaping the Education sector with a long-term strategy that integrates digital pedagogy to promote E-learning.

1. How Technology is Reshaping Education?

Discover The Transformation of Experiential Learning

Educators Embrace Interactive Tech and Hybrid Education for Engaging Classroom Experiences. Experimental Learning provides learners with an opportunity to delve into a diverse range of technological devices. Over 50% of students reported that the learning technologies utilized in classrooms during the COVID-19 period have enhanced their learning experience and academic performance. Here are five eLearning technologies that elevate the field: Artificial Intelligence, Predictive Learning Analytics, Cloud Services, Crowdsourcing, and Virtual Reality.

2. Empowering Education: Government's Initiatives to Boost Online Learning

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The Indian government envisions and molds e-learning with digital pedagogy as a long-term strategy in the education sector. In the past decade, numerous initiatives have been implemented to bolster India's digital ecosystem, effectively serving as a catalyst for the Edtech sector. The notable initiatives are outlined as follows: DIKSHA (Digital Infrastructure for Knowledge Sharing), PM eVIDYA, SWAYAM, SWAYAM PRABHA, E-Pathsala, NISHTHA, National Education Policy 2020. The Union Budget 2022-23 has given a major push to the education sector with a total allocation of Rs 1,04,278 crore, which is an increase of nearly 12% over the previous year.

3. Game-Changers:  Players Redefining the Game

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Enterprises Forging Fresh Partnerships to Outpace the Competition. For instance: In April 2021, Byju's invested around $1 Bn to acquire Aakash, enhancing infrastructure and expanding access to quality test-prep education nationwide. Adda247, supported by Google, has purchased Veeksha, a 3D experiential learning platform based in Ahmedabad, to enhance AR/VR capabilities and deliver superior learning experiences to students. Partnerships and acquisitions by Byju's and Adda247 enhance infrastructure, expand access, and foster experiential learning through immersive experiences.

Technology is fundamentally transforming education, empowering learners and educators with interactive tools. Government initiatives and strategic partnerships are driving accessibility and immersive learning experiences, revolutionizing the future of education. This shift is creating a more inclusive, engaging, and adaptable learning environment for students of all backgrounds.

2025 Vision: Taiwan's Pharmacy Market Skyrockets to USD 4.6 Bn: Ken Research

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The Taiwan pharmaceutical market is projected to reach $4.6 Bn by 2025. Unlike neighbouring countries like Japan and China, the presence of pharmacy chains in Taiwan is comparatively lower.

STORY OUTLINE

• The pharmacy market in Taiwan has grown by ~2.5% in recent years, with an increasing emphasis on the utilization of Western medicine.

• In 2019, Taiwan had 8,129 pharmacy retailers, adopting various models to enhance convenience and expand product offerings.

• Competition in Taiwan's pharmaceutical sector is intense, with organized chains contributing around 35% of revenue.

• According to Ken Research, the top three pharmacy chains in terms of revenue are Great Tree Pharmacy, Med first, and TinTin Drugstore, collectively holding a market share of around 13%.

• The pharmacy market in Taiwan has witnessed significant growth of ~2.5 % in recent years. The utilization of Western medicine is on the rise in Taiwan, with a growing emphasis on its usage. This is reflected in the expenditure on pharmaceutical products as a percentage of the GDP, which witnessed a slight increase from ~1.10% in 2014 to ~1.15% in 2018. Taiwan's pharmacy market continues to evolve, meeting the diverse healthcare needs of its population.
• Taiwan's pharmaceutical industry encompasses four distinct sub-sectors: Active Pharmaceutical Ingredients (APIs), Western medicine, Traditional Chinese Medicine (TCM), and biologics. Taiwanese biopharmaceutical companies have formed alliances with contract research organizations and multinational pharmaceutical companies in order to enhance clinical investments within Taiwan.
• In 2019, Taiwan was home to a remarkable count of 8,129 pharmacy retailers, each operating within the country's borders. These pharmacies are actively embracing various models to enhance customer convenience, while also expanding their product offerings to cater to a wider range of consumer needs.

Explore Technological Integration

Taiwan's population trends are changing as the fertility rate is shrinking (1.06 births per women as of 2018) and life expectancy is increasing. The population growth in 2019 was ~0.1% down from an average of ~1.5% during the 1980s. This has resulted with the population starting to decline as of 2020. Out of total population, 65 years and older people accounted for ~15% of the population in 2019. It is estimated this will exceed to more than 20% till 2025. As per the NHIA data the cost on healthcare increases with the increase in age. Thus, it will benefit the market in the future.

As the elderly population continues to grow, there will be an increasing demand for healthcare services and products in Taiwan. This trend presents opportunities for market growth and development in the healthcare sector, providing potential benefits for various stakeholders. Intense Competition in Taiwan's Pharmaceutical Sector, in 2019, ~35% of the total revenue in the pharmaceutical sector came from Organized Chains, while the remaining ~65% was contributed by Unorganized Pharmacies.

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Among the pharmacy chains, Great Tree Pharmacy, Med first, and TinTin Drugstore emerged as the top three in terms of revenue, collectively holding a market share of around 13%. On the other hand, based on the number of stores, Med first, Great Tree, and Your Chance took the lead, accounting for ~6% of the market share.

In conclusion, Taiwan's pharmacy market has experienced significant growth, driven by the rising utilization of Western medicine and evolving healthcare needs. The industry encompasses diverse sub-sectors and has witnessed alliances with global players to boost investments. With a changing population demographic and intense competition, opportunities arise for healthcare services and products, paving the way for market development and stakeholder benefits.

USA EV and EV Charging Equipment Market Set to Cross USD 250 Bn by 2027 with the help of IRS Code and rental services: Will EVs overtake gas-powered cars in the future?: Ken Research

 The US has a vision of building a national network of 500,000 EV chargers along USA’s highways and communities and have EVs make up at least 50% of new car

The EV & EV Charging Equipment Market in USA is highly consolidated with highly competitive rivalry among the competitors. Some of the popular EV brands like Tesla and Wall Box compete on the basis of Product Range, Pricing, No of Charging Services, efficiency of Services.

USA Electric Vehicle Supply Equipment Division

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1. Exploring Tax Incentives: The IRS Code's Credits and Rebates for Electric Vehicles and Alternative Fuel Infrastructure.

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2. Growth Opportunities for the 4-Wheeler EV Market in the USA through Increased Public Awareness and Local Manufacturer Entry.

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USA EV & EV Charging Equipment Market Outlook to 2027

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Will Indonesia's Health Tech Market Experience ~IDR5500 Bn by 2025? : Ken Research

 With the Indonesian population becoming more technologically savvy and shifting from conventional healthcare methods to contemporary health tech services, there is an expected upswing in the demand for health tech in Indonesia.

STORY OUTLINE

• Impressive user base of over 30 Mn monthly active users and network of 40,000 qualified doctors.
• partnerships between domestic health tech platforms and healthcare professionals to ensure access to doctors through digital platforms.
• In Indonesia ~220 Mn individuals projected to rely on the public universal healthcare program provided by BPJS.
• Partnerships between health tech startups and a vast network of 20,000 doctors, 1,000 hospitals, and clinics.
• In 2021, it was discovered that ~65% of participants allocated less than 100 thousand Indonesian rupiah towards digital health applications. With over ~30 Mn monthly active users and a network of over ~40,000 qualified doctors, the health-tech platform has established itself as the foremost telemedicine application in Indonesia.
• Calling Doctors: Indonesia's Growing Need for Doctors

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Increasing demand for doctors and healthcare practitioners on platforms. More partnerships with doctors, rising budgets in hospitals, and entry of healthcare IT providers will drive the industry's revenue growth. To ensure access to doctors through platforms, domestic platforms are forming partnerships with a growing roster of healthcare professionals. Indonesia suffers from a significant shortage of doctors. Based on 2021 World Health Organization statistics, Indonesia's doctor-patient ratio stood at 2.1 doctors per 10,000 patients, significantly lower than the recommended 1:600 ratio.

1. Collaboration Roadmap: Partnering with Ecosystems for Long-Term Success?

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Roughly half of the Indonesian population, totaling ~220Mn individuals, is projected to rely on the public universal healthcare program provided by BPJS. The Indonesia Health Tech Market is the sum total of revenue of E-pharmacy, Appointment booking platforms, tele-medicine platforms and IT solution providers for healthcare.​Indonesia health Tech projects will involve collaboration with a network comprising 20,000 doctors, along with 1,000 hospitals and clinics.

2. Indonesia's Health Tech Titans in Action

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The bankruptcy of Proteus Digital Health, previously valued at $1.5 Bn, serves as a wake-up call for aspiring digital health unicorns. digital-first players like Halodoc and Alodokter have been scaling up tech platforms to offer a growing portfolio of digital health services. In 2019, health data in Indonesia reached a reported value of ~120,100 Tn IDR, demonstrating an increase from the previous figure of ~111,000 Tn IDR in 2018. The government's health budget is regularly updated on an annual basis, with an average of 40,000 Tn IDR from December 2005 to 2019.

According to Ken Research, Indonesia's health-tech industry has witnessed significant growth and has established itself as a leading telemedicine application with a large user base and a network of qualified doctors. Partnerships with healthcare professionals and collaborations with the public healthcare program have contributed to its success.

India's Rental Two-Wheeler Industry Set to Double in Size: Ken Research

The Indian two-wheeler rental market, valued at USD ~38 Mn in 2021, is set to grow rapidly due to factors like tourism, urbanization, digitalization, migration, micro-mobility, traffic congestion, and cost-effective alternatives to owning and maintaining two-wheelers.

STORY OUTLINE

• The Indian rental two-wheeler market is experiencing significant growth due to increasing tourism, urbanization, digitalization, migration, micro-mobility trends, traffic congestion, and cost-efficient alternatives to owning two-wheelers.
• Electrification is driving demand in the rental industry, with e-vehicles being actively incorporated. Adoption rates for electric two-wheelers have risen in leading states like Goa, Kerala, Karnataka, and Maharashtra surpassing the national average.
• The market is highly fragmented, with approximately 15,000 unorganized companies in 2020. Intense competition among organized players has led to a pricing war, resulting in negative margins and high burn rates.
• Key players such as Bounce, Yulu, Vogo, and Drivezy are strategically focusing on scooters to reduce capital expenditure and increase profitability in the rental two-wheeler market.
• Ken Research reports that ~70% of rental two-wheeler bookings are made by males, who exhibit a neutral preference between renting commuter bikes (with higher mileage and lower prices) and scooters.

The Indian rental two-wheeler market is experiencing significant growth due to factors such as increasing tourism, urbanization, digitalization, migration, micro-mobility trends, traffic congestion, and cost-efficient alternatives to owning and maintaining two-wheelers. rapid urbanization in India has resulted in increased transportation needs. Renting two-wheelers offers a cost-effective and efficient solution for short-distance commuting within cities. Currently, there are approximately 30 organized players in the Indian rental two-wheeler industry. These companies are strategically targeting specific geographical areas and diversifying their services and vehicle offerings to cater to the rental market.

1. Electrification Drive: E-Vehicle Entry Accelerates Demand in the Rental Industry

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E-Vehicle Entry Sparks Electrification Drive. India's electric two-wheeler market is growing steadily, with adoption rates rising to 5.63% in May 2023 from 4.05% in 2022. Leading states like Goa, Kerala, Karnataka, and Maharashtra have surpassed the national average. With a goal of 80% EV penetration by 2030, the rental industry is actively incorporating e-vehicles, accelerating demand and driving the electrification wave. Up to 392,681 of the 6.98 million two-wheelers sold in India this year till May 31 were electric.

2. Freedom on Two Wheels: Increasing Demand for Motorcycle Rentals in Tourist Spots

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Due to the advantages of personalized and affordable transportation, domestic tourists in India are increasingly opting for two-wheelers. In the fiscal year 2020, there were ~10.2 million foreign tourist arrivals in India, along with a staggering ~2 billion domestic tourist visits to various states. Youngsters in particular are showing a growing interest in road trips and adventure tourism, exploring destinations such as Leh & Ladakh, Manali, Udaipur, Bhutan, and Goa. It is worth noting that India has a youthful population, with over 50% below the age of 25 and more than 65% below the age of 35. This demographic, coupled with a burgeoning entrepreneurial culture, has significantly contributed to the rise of shared mobility solutions.

3. Race to the Top: Competitive Landscape Heats Up in the Two-Wheeler Rental Sector

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The market is characterized by fragmentation, with a relaxed regulatory environment and a limited presence of organized companies. In the fiscal year 2020, there were approximately 15,000 unorganized companies operating in the market, collectively capturing around 25% of the market share in terms of Gross Transaction Value. The competition among organized players is intense, leading to a pricing war for various models, ultimately resulting in negative margins and a high burn rate. Key companies like Bounce, Yulu, Vogo, and Drivezy are strategically focusing on scooters as a means to reduce overall capital expenditure and increase profitability.

The Indian rental two-wheeler market is experiencing substantial growth due to factors like increasing tourism, urbanization, and the need for cost-effective transportation. With approximately 30 organized players, the market is diversifying to cater to specific regions and incorporating electric vehicles. Motorcycle rentals are popular among domestic tourists, but intense competition and fragmentation persist. Opportunities exist for innovative strategies in this evolving landscape.

Qatar's Ambitious Plans: Over 40 Malls and 300 Hotels by 2027 to Bolster the Retail and Restaurant Industry, but What's Next? : Ken Research

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The Hotels & Restaurants Market in Qatar is highly fragmented with highly competitive rivalry among the competitors. Some of the popular restaurants like Asha’s, Ipanema, Bandar Aden compete on the basis of menu prices, average sitting capacity, Waiting Time, and many more.

1.Exploring Qatar's Key Catchment Areas: How West Bay, Al Wakrah, Al Khor, Masaieed, Umm Salal Ali, and Umm Salal Mohammed are Vital for the Hotel Industry.

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• Opening of more than 50 hotels in the country in 2022 led to the establishment of 70+ fine dining restaurants, 90% of which are located in the hotels like Al Hubara, Iksha 360.
• Qatar has unveiled a 6,000-cabin fan village in an isolated lot near its airports, an offering for housing toward the lower end for the FIFA World Cup.
• Also, temporary hotels have been added in the country with the partnership of MSC cruises for Peosia and Europa which docked at Doha port to supplement hotel demand in the country.

 2.Qatar's Hotel Room Count to Surpass 50,000 by 2027: A Booming Hospitality Industry Fueled by New Developments and Investments.

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• The Hotel Rooms in Qatar is expected to reach to over 50K in 2027 due to influx of visitors in the country.
• It is expected that over 10% of the hotel keys will be 3 star and over 2% will be 1 or 2 Star in 2027.
• The luxury segment could present the greatest opportunity to transform Qatar’s appeal to a wider audience.
• Restoration of diplomatic ties between KSA and Qatar in 2021 to contribute in boosting tourist arrivals, positively impacting the hotel industry.

3.Qatar's Mall Rental Occupancy Hits 95.5% in 2022: New Malls to Flourish in Doha Province in the Coming Years.

• During the last 3 years, F&B markets have favored “less onerous” rents and more occupants have increased in the sector due to the high demand of food delivery.
• Occupancy rates in Qatar’s retail sector have fallen during 2017 and 2021 as new supply has come to the market.
• With an average footfall of 1.5 Mn per month, The Mall of Qatar offers 500 retail, dining, and café options.
• Outside of the main retail malls, high street showrooms, local convenience retail, & F&B destinations are typically available to lease for between QAR 90 & QAR 150 per sqm per month.

Qatar Retail Restaurant and Hotel Market Segmentation

By Type of Restaurant

• Fine Dining
• Desert Parlous and Beverages
• QSR and Chains
• Cafeteria and Cafes
• Casual Dining

By Franchise & Non-Franchise

• Franchised Outlets
• Non- Franchised Outlets

By Type of Outlets

• Standalone
• Hotel Based
• Mall Based

By Hotel Stars

• 5 Star
• 4 Star
• 3 Star
• 1 or 2 Star
• Apartments

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Restaurants and Hotel Chains
• Food Aggregators
• Catering Companies
• Real Estate Companies
• Potential Market Entrants

Time Period Captured in the Report

• Historical Period: 2017-2021
• Base Period: 2022
• Forecast Period: 2023-2027

Major Players Mentioned in the Report

• Spice Market
• Nusr Et
• Hakkasan
• Three Sixty
• Al Hubara
• Bandar Aden
• Damascas One
• Paper Moon
• Chef's Garden
• Burj Al Hamam
• Cheesecake Factory
• Roti and Boti
• Morimoto
• Paper Moon Doha and more

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Qatar Retail Restaurant Industry 

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Lumi Expands to Jeddah, Targets ~$10 Bn Used Car Sales: Ken Research

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Lumi, a division of Seera, Extends Used Car Sales Reach to Jeddah in Response to Surging Demand. Focuses on Selling Vehicles Aged Two to Four Years. Lumi’s used car business segment sold more than 3,600 vehicles in 2022.

STORY OUTLINE

• Lumi Rental Co., a subsidiary of Seera Group Holding, has opened its second used car showroom in Jeddah, Saudi Arabia, to meet the growing market and customer demands.
• The showroom is located in Jeddah's Al Jawhara district and covers an area of 2,960 square meters, showcasing up to 120 pre-owned vehicles.
• In 2022, Lumi's used car business division achieved impressive sales of over 3,500 vehicles, highlighting its success in the market.
• Lumi aims to maximize purchase price recovery by selling vehicles after two to four years of rental and lease operations, ensuring a young and modern fleet.
• The showrooms in Riyadh and Jeddah cater to retail customers seeking used vehicles, while corporate buyers can participate in digital bidding for pre-owned vehicles.

1. Lumi Rental Co. Expands Reach with Second Used Car Showroom in Saudi Arabia

Explore expansion of used car market

Lumi Rental Co., a subsidiary of Seera Group Holding specializing in car rental and leasing, has unveiled its second used car sales showroom in Saudi Arabia. This expansion comes in response to growing market and customer needs. Located in Jeddah's Al Jawhara district, the spacious showroom spans 2,960 square meters and can accommodate up to 120 pre-owned vehicles on display. In 2022, Lumi's used car business division achieved sales of over 3,500 vehicles.

2. Ensuring a Young and Modern Fleet: Lumi's Commitment

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Lumi, a market leader in car rental, leasing, and used car sales, inaugurated its first used car showroom in Riyadh in 2022. With a fleet of 24,000+ vehicles, Lumi aims to maximize purchase price recovery by selling vehicles after two to four years of rental and lease operations. The Riyadh and Jeddah showrooms cater to retail customers' demand for used vehicles, while corporate buyers can bid digitally for pre-owned vehicles, ensuring a young and modern fleet.

Lumi Rental Co., a prominent player in the car rental, leasing, and used car sales sectors, continues to expand its presence in Saudi Arabia with the introduction of a second used car showroom in Jeddah. With a focus on meeting the evolving market demands and customer preferences, Lumi's commitment to maintaining a young and modern fleet is evident. By strategically selling vehicles after two to four years of use, Lumi maximizes purchase price recovery and ensures access to the latest and newest vehicles for its customers.

JSP Pharmaceutical: Sets High Expectations for 30% Revenue Growth This Year! : Ken Research

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Anticipating a 30% revenue growth, JSP Pharmaceutical Manufacturing (Thailand) Plc, a distributor of medicines and nutritional supplements, is set to capitalize on the rising demand in the medicine industry with the launch of its dedicated research and development service.

STORY OUTLINE

• JSP Pharmaceutical Manufacturing is involved in pharmaceutical research and development (R&D).
• The company operates as an original equipment manufacturer (OEM) and supplies 60% of its products to customers.
• JSP also markets the remaining portion of its products under its own brands.
• Sittichai, the company's representative, has a goal of increasing the proportion of branded products to 50% by 2024.
• According to Ken Research, JSP Pharmaceutical Manufacturing (Thailand) Plc's financial performance showed mixed results in 2020

In the year 2020, JSP Pharmaceutical Manufacturing (Thailand) Plc achieved earnings of 436 Mn baht, although it faced a loss of 17.4 Mn baht. Moving forward, in the first quarter, the company recorded a profit of 1.8 million baht, accompanied by a revenue of 112.6 Mn baht.

Explore Pharmaceutical Manufacturing Market Share

• Pharmaceutical R&D manufacturers face persistent challenges in expanding their medicine exports, as they are required to consistently update and enhance their products to align with international standards.

With an investment of 25 million baht, JSP Pharmaceutical Manufacturing has established a state-of-the-art laboratory that adheres to the rigorous standards of good manufacturing practice and the pharmaceutical inspection co-operation scheme.

• The CEO, Mr. Sittichai, stated that JSP expects the laboratory to support customer R&D projects, reduce researchers' workload, and accommodate up to six projects per year.

• Sittichai Daengprasert noted that the growth of the domestic medicine industry will fuel the demand for diverse medication types, creating new revenue opportunities for the company through research and development.

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• Currently, JSP Pharmaceutical Manufacturing imports over 90% of its raw materials, while functioning as an original equipment manufacturer and supplying 60% of its products to customers. The remaining products are marketed under the company's own brands.
• JSP Pharmaceutical Manufacturing engages in pharmaceutical R&D and functions as an original equipment manufacturer, providing 60% of its products to customers, with the remaining portion marketed under its own brands. Sittichai aims to increase the share of these branded products to 50% by the year 2024.
• JSP Pharmaceutical Manufacturing (Thailand) Plc's financial performance showed mixed results in 2020, but a positive turnaround was observed in the first quarter. The investment in a state-of-the-art laboratory highlights their commitment to quality and innovation, supporting customer R&D projects and improving efficiency. With the growing domestic medicine industry, JSP aims to capitalize on diverse medication types, despite challenges in expanding exports, by focusing on international standards and product enhancements.

Italy Car Rental Market Size, Share and Industry Report, Outlook to 2027: Ken Research

 What Is The Size Of Italy Car Rental Industry?

Italy Car Rental market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Italy Car Rental Market is largely driven by smartphones users’ penetration, rising tourism and government initiatives.

Also, growing Demand for On-Demand Transportation Services to drive market growth increasing vehicle costs, shrinking parking lots, and high auto maintenance costs encourage people to use on-demand transportation services for trips and everyday commuting. As a result, the industry has grown due to consumers' increased preference for on-demand transportation.

Furthermore, the rising number of international tourists is the main growth driver for the expansion of the car rental market in the country raising the standard of booking and leading to robust revenue generation.

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Furthermore, the COVID-19 has disrupted car rental growth across the country. The strict travel restrictions and quarantine rules across the country have adversely affected the car rental market. The car rental market registered around ~% lower revenue in 2020 as compared to 2019. However, the market is displaying a decent recovery post-severe COVID-19 pandemic outbreaks as the market revenue is surging by around ~% in 2021 as compared to 2020.

Italy Car Rental Market By Type Of Vehicles

The Italy Car Rental market is segmented by type of vehicles into small cars/hatchbacks, Sedans, SUVs and others.

The most popular car models in the market are VW, Mercedes, Opel, VW Up, Toyota Aygo, Polo, Opel Corsa, VW Golf, and Opel Astra. Small Car/ Hatchback has the highest market share among other types of vehicles in the country in 2022.

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Italy Car Rental Market By Fuel Type

The Italy Car Rental market is segmented by fuel type into petrol, diesel and electric.

People usually prefer petrol-based car as they don’t want to wait for charging their cars.

Italy Car Rental Market By Mode Of Booking

The Italy Car Rental market is segmented by mode of booking into online and offline.

Online booking dominates the Italy car rental market in terms of revenue in 2022 and is registers a significant growth in terms of revenue during the forecast period. The rise in the use of internet and mobile phone applications across the country is likely to enhance the use of online booking platforms.

Competition Scenario In Italy Car Rental Market

Italy Car Rental Market is at a growing stage. The market is moderately fragmented. Italy Car rental market is dominated by major players such as USDopcar, Avis, Hertz, Rentalcars.com, Easycar.com, and many others Italy’s Car Rental Market is in the Growing stage owing to rising internet connectivity and smartphones penetration along with rising tourism.

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What Is The Expected Future Outlook For The Overall Italy Car Rental Market Across The Globe?

The Italy Car Rental market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Italy Car Rental market is driven by rising tourism, growing internet connectivity.

However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Also, owing to the increasing demand from tourists for business and leisure purposes hiring rental cars along with the Italy government’s decision to increase the tax-free travel allowance. The growing penetration rate of the internet and smartphones are driving more people to rent a car as the services are mainly provided through online platforms.

The rise in domestic and international tourism across the country is likely to witness major growth in the market. In 2021, domestic expenditure accounts for around ~% of total tourism spending. The contribution of travel and tourism spending is the key factor toward the Italian GDP. Such an increase in travel and tourism sectors across the country is witnessing major demand for car rental services, which in turn witnessing major growth for the market.

Along with rising internet penetration across the country and increase in use of smart phone application for online car rental booking is likely to witness significant growth for the market. For instance, in 2021, the number of active internet user in Italy counted more than ~ million, such increase in use of internet will help to boost the market.

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Italy Car Rental Market Outlook to 2027F

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Germany Car Rental Industry Trends, Growth, Outlook to 2027: Ken Research

 What Is The Size Of Germany Car Rental Industry?

Germany Car Rental market is growing at a CAGR of ~% in 2017-2022 and is expected to reach EUR ~ Bn by 2027F.

The Germany Car Rental Market is largely driven by rise in number of travelers demands for car rental services, increasing demand for online car rental services and digitization.

But, the rapid spread of coronavirus across the country and enforced lockdown in country have had a negative impact on the car rental market. Manufacturers operating in the car rental market are recovering from the losses caused due to disturbed services due to halt on transportation activities and travel restrictions.

After the successful recovery of businesses, manufacturers in the car rental market are marking their presence in the market. Major players operating in the car rental market are investing and expanding their services to fulfill rising demands from consumes.

Also, increasing popularity of tours and travels due to rising disposable incomes is a factor demanding high quality and reliable travel services for their tours. Leading car rental service providers are offering quality services and promoting their brands at airports, and this is helping customers to adopt their services

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Germany Car Rental Market By Market Structure

The Germany Car Rental market is segmented by market structure into organized and unorganized market. There is a preference towards the organized sector as most of the tourists look for legal documents and certifications of the vehicle to avoid security patrolling for safety measures.

Germany Car Rental Market By Type Of Vehicles

The Germany Car Rental market is segmented by type of vehicles into small cars/ hatchbacks, sedans, SUVs and others. The most popular car models in the market are VW, Mercedes, Opel, VW Up, Toyota Aygo, Polo, Opel Corsa, VW Golf, and Opel Astra. Small Car/ Hatchback has the highest market share among other types of vehicles in the country.

Germany Car Rental Market By Ice/Ev

The Germany Car Rental market is segmented by ICE/EV into ICE (internal combustion engine) and electric vehicles. There is a preference towards the ICE vehicles as they have been very common and EVs are new concept and they are expensive also.

Germany Car Rental Market By Cities

The Germany Car Rental market is segmented by cities into Berlin, Hamburg, Munich and others. Munich has the most market share in car rental in Germany as compare to other cities.

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Germany Car Rental Market By Mode Of Booking

The Germany Car Rental market is segmented by mode of booking into online and offline. Online mode of booking is more as compare to offline as it is quick and have more options. Also, tourist from other countries who don’t know to location can also easily book their cars online.

Germany Car Rental Market By Client

The Germany Car Rental market is segmented by client into business and leisure. Leisure holds the most of the market share in Germany Car Rental Market.

Germany Car Rental Market By Pick-Up

The Germany Car Rental market is segmented by pick-up into on-airport and off-airport. On-airport holds the market share in Germany Car Rental Market as people wants to get picked from the airport.

Competition Scenario In Germany Car Rental Market

Germany Car Rental Market is at growing stage and has moderately fragmented market with about 10-12 organized rental car providers. The Car Rental Market in the Germany has seen emergence of more players over the past 5 years. SIXT SE, Enterprises Holding Inc., Europcar, and AVIS are market leaders in Germany.

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What Is The Expected Future Outlook For The Overall Germany Car Rental Market?

The Germany Car Rental market was valued at EUR ~billion in 2022 and is anticipated to reach EUR ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Germany Car Rental market is driven by long term car renting gaining momentum, support for sustainable travel boosts interest in train and bus transport and expansion of the tourism industry. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Also, online tourist vehicle bookings are increasing in the country and globally due to the rising usage of smartphones, and the growth in the number of users preferring online channel. With the growing trend in technology, renting a vehicle through online booking has become the most preferred choice for customers over the past few years.

Moreover, it provides additional facilities to monitor a rental vehicle’s operation, performance, and maintenance in real-time. Such features are tremendous assets for drivers and fleet managers, enabling them to better and more efficiently identify risks and implement timely improvements to their rental services. Furthermore, technological advancement and digitalization are factors assisting market players to stay ahead of the competition. Car rental services are often complemented by websites, allowing online reservations and car rental offices are primarily located near airports or busy city areas. Alongside the basic rental of a vehicle, car rental agencies typically offer extra services, such as GPS navigation systems, insurance, and entertainment systems. And, with broader challenges confronting all travel operators during the pandemic, car rental companies have suffered many of the same losses as other modes of transportation, such as airlines and trains, as a result of pandemic-driven demand for private travel options to non-urban destinations. However, as normal travel patterns resume in the coming years, car rental companies will face more direct competition from other modes of ground transportation, such as trains and buses, which will also seek a larger share of the more localized domestic and regional trips that are likely in the coming years.

For More Insights On Market Intelligence, Refer To The Link Below: –

Germany Car Rental Market Outlook To 2027F

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