Global Vacation Rental Market to Benefit from the Growing Tourism Industry Through 2018-2022 | Technavio
LONDON--(BUSINESS WIRE)--Jun 19, 2018-- analysts forecast the global vacation rental market to post a CAGR of close to 7% during the forecast period, according to their latest market research report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180619006224/en/
Technavio has published a new market research report on the global vacation rentals market from 2018-2022. (Graphic: Business Wire)
Instant bookings is one of the major trends being witnessed in the . Such booking processes are associated with minimal or zero wait time. Online vacation rental sites facilitate real-time booking. This value-addition will improve the convenience of booking vacation rentals, leading to increased customer satisfaction. Many existing market vendors have invested in the autoresponder technology which saves time and money. This technology enables automated responses to inquiry emails and repetitive inquiries which helps to create a unique user experience.
According to Technavio analysts, one of the key factors contributing to the growth of the global vacation rental market is the growing tourism industry and the increasing popularity of short-term rental properties:
Global vacation rental market: Growing tourism industry
The growth of the global tourism industry significantly contributes to the growth of the global vacation rental market. Government bodies support and facilitate the tourism industry as the tourism industry contributes significantly to the GDP of a country. According to studies it has been found that baby boomers have been contributing to the growth of the travel and tourism industry. The introduction of web-based listing sites and increase in the number of online bookings has also led to the growth of the vacation rental market.
According to a senior analyst at Technavio, “The growth of the tourism industry and an increase in the number of domestic and international travelers has positively impacted the demand for vacation rental properties.”
Global vacation rental market: Segmentation and analysis
This global vacation rental market research report provides market segmentation by management (owners and professionally managed), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
EMEA held the largest share of the market in 2017, accounting for over 52%, followed by the Americas and APAC respectively. Although APAC held the smallest share of the market, it is projected to witness the maximum increase in its market share while the other two regions will see a small decrease in their market shares over the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket sizing Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20180619006224/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: ONLINE RETAIL TRAVEL CRUISE DESTINATIONS VACATION LODGING TRANSPORTATION OTHER TRAVEL RETAIL
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 06/19/2018 02:00 PM/DISC: 06/19/2018 02:01 PM