DUBLIN, Jan. 21, 2023 /PRNewswire/ — The “Global Car Rental Software Market Size, Trends & Growth Opportunity and By Type, By Application By Region and Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Car Rental Software Market is expected to grow from US$ 101,729.76 Million in 2021 to US$ 188,933.23 Million by 2027; it is estimated to grow at a CAGR of 9.25% from 2021 to 2027.
Market Dynamics
Drivers: Increasingly more people are using on-demand transportation services for travel and daily commuting due to rising vehicle pricing, shrinking parking spaces, and expensive car upkeep.
As a result, the market growth during the projection period is likely to be boosted by the growing preference for on-demand transportation. The public is influenced to favour on-demand transportation services by rising smartphone sales. For ride hailing and rental businesses, smartphone apps offer hassle-free booking and online payment choices.
Restraints: Due to high demand and limited supply, crude oil prices are growing quickly throughout the world, driving up the overall cost of renting a car. As a result, it is anticipated that the market’s growth will be hampered during the projection period by these rising oil or fossil fuel prices. Global petroleum demand increased faster than global petroleum supply as a result of the expanding economy and looser limitations. A major impediment is the high cost of fuel and diesel in many developing nations.
Opportunities: Technology is an important factor that is expected to boost the market over the forecast period. The increased use of information technology is transforming the industry and allowing operators to provide better services to their customers. This includes the use of optimized corporate and customer information management, as well as the creation of user-friendly internet booking applications.
As an example, The order online or pick-up model is at the forefront of identifying beacon and near-field communications applications (NFC). Newer players, such as Zipcar and BlaBlaCar, are benefiting from innovative business models like car-sharing and the adoption of technologies like telematics. Uber and Lyft use mobile technologies and devices to better meet the personal transportation needs of their customers. These initiatives are helping to disrupt the car rental industry.
Industrial Development
- On May 2021, Rent Centric, Inc. has chosen Rack Space as the partner of choice for providing best-in-class application hosting services for Rent Centric On-Demand Subscription deployments with security, scalability, and a 100% uptime target guarantee in mind.
- On January 2021, the cloud-based automobile rental software provider Navotar, which offers solutions to automate fleet management, has been acquired by Valsoft Corporation Inc. (Valsoft), a Montreal-based firm that specialises in the acquisition and development of vertical market software enterprises.
- On September 2018, Valsoft Corporation Inc. (Valsoft) purchased Bluebird Auto Rental Systems in 2018, bringing to its Travel and Leisure segment a known and trusted provider of auto rental software. Bluebird’s many years of operation have resulted in a fantastic reputation for a customer-centric culture, which coincides with Valsoft’s objective..
Market Taxonomy
By Type
- Mobile App
- Web-based
By Application
- Car Rental Service
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Car Rental Software Market?
- What will be the growth rate from 2021 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Car Rental Software Market Outlook
5 Global Car Rental Software Market, By Type
6 Global Car Rental Software Market, By Application
7 Global Car Rental Software Market, By Region
8 North America Car Rental Software Market Analysis and Forecast (2022-2027)
9 Europe Car Rental Software Market Analysis and Forecast (2022-2027)
10 Asia Pacific Car Rental Software Market Analysis and Forecast (2022-2027)
11 Latin America Car Rental Software Market Analysis and Forecast (2022-2027)
12 Middle East Car Rental Software Market Analysis and Forecast (2022-2027)
13 Competitive Analysis
14 Company Profiles
Companies Mentioned
- Easy Rent Pro
- HQ Car Rental
- Navotar
- Barsnet (Bluebird Auto Rental Systems)
- Rent Centric
- Ecalypse
- MotoUse
- CarPro Systems
- FleetMaster
For more information about this report visit https://www.researchandmarkets.com/r/80nb5a
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SOURCE Research and Markets
