Online Car Rental Platform Market to Grow at a CAGR of 9.4%

New York, USA, Aug. 16, 2021 (GLOBE NEWSWIRE) — The online car rental platform market is expected to grow at a compound annual growth rate (CAGR) of 9.4% in the forecast period. COVID-19 Impact on the Online Car Rental Platform market The global economy is severely impacted due to COVID-19. Despite the […]

New York, USA, Aug. 16, 2021 (GLOBE NEWSWIRE) — The online car rental platform market is expected to grow at a compound annual growth rate (CAGR) of 9.4% in the forecast period.

COVID-19 Impact on the Online Car Rental Platform market

The global economy is severely impacted due to COVID-19. Despite the resumption of operations, many nations are experiencing challenges in resuming their manufacturing capacity and industry participants are enduring the effects of shortages in distribution & supply networks. Favorable government initiatives to fast-track operations and continue the deployment of planned projects will positively impact the business scenario.

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Online Car Rental Platform Market By Self-Drive

The self-drive online car rental car is categorized as one of the most sought-after modes of commute preferred by many online car rental customers. Self-drive online car rental services provide the customer with full control over the rental vehicle for the stipulated time period.

Online Car Rental Platform Market By Tourism and Leisure

The prominence of the self-drive rental platform across the markets can be termed as the most impactful factor in the growth of the short terms online car rental service providers. Many platforms offer hourly, daily, or even monthly online car rental services to their customer. This service proves extremely useful for tourists looking to procure vehicles in tourist destinations for a limited time period.

Online Car Rental Platform Market By Region

North America is home to many prominent online car rental platform developers and also online car rental service providers that are making strategic developments to lure in customers and cement their revenue share in the market. By adding rental services for goods carrier vehicles in their portfolio the companies are striving to widen the scope of their existing customer base in the market.

Peer 2 Peer rental services in the region are also witnessing a heavy upsurge. For instance, Turo Inc. has increased its available vehicle fleet up to 400,000 vehicles on its platform. The company has almost doubled its vehicle fleet over the past two fiscal years.

With the increasing preference of consumers in the U.S. and Canada towards rental services for the daily commute and during holiday travels, the market of online car rental platforms is projected to exhibit skyrocketing growth.

Regional Analysis as per the Trends @ https://straitsresearch.com/regional-analysis/online-car-rental-platform-market/global/

Detailed Table of Content

1              Introduction

1.1          Market Definition

1.2          Market Scope

2              Research Methodology

2.1          Primary Research

2.2          Research Methodology

2.3          Assumptions & Exclusions

2.4          Secondary Data Sources

3              Executive Summary

4              Market Overview

4.1          Report Segmentation & Scope

4.2          Value Chain Analysis: Online Car Rental Platform Market

4.2.1      Vendor Matrix

4.3          Key Market Trends

4.3.1      Drivers

4.3.2      Restraints

4.3.3      Opportunities

4.3.4      Challenges         

4.4          Porter’s Five Forces Analysis

4.4.1      Bargaining Power of Suppliers

4.4.2      Bargaining Power of Buyers

4.4.3      Threat of Substitution

4.4.4      Threat of New Entrants

4.4.5      Competitive Rivalry

4.5          Covid-19 Impact Analysis             

4.5.1      Pre Covid-19 Market Scenario Analysis  

4.5.2      Post Covid-19 Market Scenario Analysis

4.5.3      Measures Taken by Top Players

5              Online Car Rental Platform Market, By Type

5.1          Passenger Cars 

5.1.1      Market Size & Forecast (Value & Volume)

5.1.2      Compact Cars

5.1.2      Mid-Sized Cars

5.1.2      SUVs

5.1.2      Luxury

5.2          Commercial Cars             

5.2.1      Market Size & Forecast (Value & Volume)

5.2.2      LCVs

5.2.3      HCVs

6              Online Car Rental Platform Market, By Drive Type

6.1          Self-Drive           

6.1.1      Market Size & Forecast (Value & Volume)

6.2          Assisted Drive   

6.2.1      Market Size & Forecast (Value & Volume)

7              Online Car Rental Platform Market, By Contract Type

7.1          Short Term

7.1.1      Market Size & Forecast (Value & Volume)

7.2          Long Term

7.2.1      Market Size & Forecast (Value & Volume)

8              Regional Overview

8.1          North America

8.1.1      The U.S.

8.2.2      Canada

8.2          Latin America

8.2.1      Brazil

8.2.2      Mexico

8.2.3      Argentina

8.2.4      Rest of Latin America

8.3          Europe

8.3.1      Germany

8.3.2      France

8.3.3      The U.K.

8.3.4      Italy

8.3.5      Spain

8.3.6      Belgium

8.3.7      The Netherlands

8.3.8      The Rest of Europe

8.4          Asia-Pacific (APAC)

8.4.1      China

8.4.2      Japan

8.4.3      India

8.4.4      Australia

8.4.5      South Korea

8.4.6      Malaysia

8.4.7      Rest of APAC

8.6          The Middle East & Africa

8.6.1      Saudi Arabia

8.6.2      The UAE

8.6.3      Qatar

8.6.4      South Africa

8.6.5      Turkey

8.6.6      The Rest of the Middle East

9              Competitive Landscape — Manufacturers & Suppliers

9.1          Competition Dashboard

9.2          Market Share Analysis, 2020

9.3          Competition Dashboard

9.4          Key Developments

10           Company Profile

10.1        Carcloud

10.1.1    Business Overview

10.1.2    Financial Performance

10.1.3    Recent Developments

10.1.4    Product Portfolio

10.2        Expedia

10.2.1    Business Overview

10.2.2    Financial Performance

10.2.3    Recent Developments

10.2.4    Product Portfolio

10.3        Turo

10.3.1    Business Overview

10.3.2    Financial Performance

10.3.3    Recent Developments

10.3.4    Product Portfolio

10.4        Getaround

10.4.1    Business Overview

10.4.2    Financial Performance

10.4.3    Recent Developments

10.4.4    Product Portfolio

10.5        Renteon

10.5.1    Business Overview

10.5.2    Financial Performance

10.5.3    Recent Developments

10.5.4    Product Portfolio

10.6        Avis Rent A Car System, LLC

10.6.1    Business Overview

10.6.2    Financial Performance

10.6.3    Recent Developments

10.6.4    Product Portfolio

10.7        ECONOMY CAR RENTALS

10.7.1    Business Overview

10.7.2    Financial Performance

10.7.3    Recent Developments

10.7.4    Product Portfolio

10.8        Coastr

10.8.1    Business Overview

10.8.2    Financial Performance

10.8.3    Recent Developments

10.8.4    Product Portfolio

10.9        Rent Centric

10.9.1    Business Overview

10.9.2    Financial Performance

10.9.3    Recent Developments

10.9.4    Product Portfolio

10.10     Limo Anywhere Inc

10.10.1  Business Overview

10.10.2  Financial Performance

10.10.3  Recent Developments

10.10.4  Product Portfolio

11           Conclusion & Recommendation

12           Acronyms & Abbreviations

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The car rental platform focused to provide essential features such as online booking engine, fleet management services, vehicle availability information management, driver information management, order booking and tracking the order, billing and invoicing for the customer, and online payment module.

Growing Travel and Tourism Industry

•           The travel and tourism industry is one of the largest and fastest-growing industries globally, with the industry surpassing the global rate of economic growth.

•           In 2018, according to the World Travel and Tourism Council, the travel and tourism sector grew at 3.9% to contribute a record USD 8.8 trillion and 319 million jobs to the world economy.

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