Vacation Rental Market Size to Grow by USD 79.30 Billion | 14.09% Estimation of Y-O-Y Growth Rate in 2022 | Technavio
NEW YORK, July 6, 2022 /PRNewswire/ -- In 2020, the outbreak of COVID-19 adversely affected the Vacation Rental Market. The governments of the UK and Germany announced lockdown restrictions to control the spread of the disease. This reduced the demand for various vacation rental properties such as hotels, resorts, and condos, which negatively impacted the growth of the regional market. However, with the initiation of vaccination drives and the steady recovery of the tourism industry in Europe, the demand for vacation rentals started to improve from H1 2021. This trend is expected to continue, which, in turn, will drive the market during the forecast period. Moreover, The Vacation Rental Market value is set to grow by USD 79.30 billion from 2021 to 2026, as per the latest report by Technavio.
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Vacation Rental Market Geography Outlook (Revenue, USD bn, 2021-2026)
- Europe - size and forecast 2021-2026
- North America - size and forecast 2021-2026
- APAC - size and forecast 2021-2026
- MEA - size and forecast 2021-2026
- South America - size and forecast 2021-2026
37% of the market's growth will originate from Europe during the forecast period. UK, France, and Italy are the key markets for vacation rental market in Europe. The significant growth of the travel and tourism industry owing to the increase in customer awareness towards rental vacation services will facilitate the vacation rental market growth in Europe over the forecast period.
Vacation Rental Market Management Outlook (Revenue, USD bn, 2021-2026)
- Managed by Owners - size and forecast 2021-2026
- Professionally Managed - size and forecast 2021-2026
The vacation rental market share growth by the managed by owners' segment will be significant during the forecast period. Increased personal interaction and improved customer inclination are expected to drive the growth of the segment in focus during the forecast period.
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Vacation Rental Market: Growing Tourism Industry and the Increasing Popularity of Short-term Rental Properties to Drive the Market Growth
- Multiple governments have implemented strategies that favor the growth of the global tourism industry. The global increase in the number of tourists leads to high demand for vacation rental properties. Baby boomers have been contributing significantly to the growth of the travel and tourism industry. The demand for short-term vacation rental properties is particularly increasing. These properties, when marketed effectively, bring increased returns than long-term rental properties. Furthermore, the increase in comfort offered by short-term rental properties and affordability will attract consumers to such spaces, which is expected to support the market growth in the coming years.
Vacation Rental Market: Instant Bookings Facility by Online Vacation Rental Sites and Other Channels to Facilitate Real-time Bookings to be the Key Trend of the Market
- This value-addition will improve the convenience of booking vacation rentals, leading to increased customer satisfaction. The availability of instant booking options has increased the degree of product or service differentiation in the global vacation rental market. For instance, to retain its customer base, Airbnb introduced instant booking provisions that facilitate minimal discrimination of guests on the basis of gender, identity, race, disability, national origin, or age. Many existing market vendors have invested in autoresponder technology, which saves time and money. This technology enables automated responses to inquiry emails and repetitive inquiries, which is expected to create a unique user experience, which will positively impact the market growth in the forecast period.
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Some of the Major Vacation Rental Companies
- 9flats.com PTE Ltd.
- Agoda Co. Pte. Ltd.
- Airbnb Inc.
- Expedia Group Inc.
- Hotelplan Management AG
- MakeMyTrip Ltd.
- NOVASOL AS
- Oravel Stays Ltd.
- TripAdvisor LLC
- Wyndham Hotels and Resorts Inc.
The vacation rental market is fragmented, and the vendors are deploying growth strategies such as technological innovations to compete in the market.
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Related Reports Include
Vacation Rental Market in Europe by Management and Geography - Forecast and Analysis 2022-2026: The vacation rental market share in Europe is expected to increase by USD 29.23 billion from 2021 to 2026, at a CAGR of 8.18%. With the initiation of vaccination drives and the steady recovery of the tourism industry in Spain, the demand for vacation rentals has started to improve from H1 2021, which, in turn, will drive the market during the forecast period. Find More Research Insights Here
Online Home Rental Services Market by Type and Geography - Forecast and Analysis 2020-2024: The online home rental services market share is expected to increase by USD 14.24 billion from 2019 to 2024, at a CAGR of 13%. 38% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for online home rental services in North America. Find More Research Insights Here
Vacation Rental Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Decelerate at a CAGR of 8.42% |
Market growth 2022-2026 | $ 79.30 billion |
Market structure | Fragmented |
YoY growth (%) | 14.09 |
Regional analysis | Europe, North America, APAC, MEA, and South America |
Performing market contribution | Europe at 37% |
Key consumer countries | US, UK, France, Italy, and Australia |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | 9flats.com PTE Ltd., Agoda Co. Pte. Ltd., Airbnb Inc., Expedia Group Inc., Hotelplan Management AG, MakeMyTrip Ltd., NOVASOL AS, Oravel Stays Ltd., TripAdvisor LLC, and Wyndham Hotels and Resorts Inc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent market
Exhibit 01: Parent market
Exhibit 02: Market characteristics
2.2 Value chain analysis
Exhibit 03: Value chain analysis: Specialized consumer services
2.2.1 Inputs
2.2.2 Pitching and profiling
2.2.3 Resourcing and communicating
2.2.4 Delivery and support
2.2.5 Connecting and innovating
2.2.6 Marketing and sales
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 06: Global - Market size and forecast 2021 - 2026 ($ billion)
Exhibit 07: Global market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five forces analysis
Exhibit 08: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 9: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2021
5. Market Segmentation by Management
5.1 Market segments
The segments covered in this chapter are:
- Managed by owners
- Professionally managed
Exhibit 15: Management - Market share 2021-2026 (%)
5.2 Comparison by Management
Exhibit 16: Comparison by Management
5.3 Managed by owners - Market size and forecast 2021-2026
Exhibit 17: Managed by owners - Market size and forecast 2021-2026 ($ billion)
Exhibit 18: Managed by owners - Year-over-year growth 2021-2026 (%)
5.4 Professionally managed - Market size and forecast 2021-2026
Exhibit 19: Professionally managed - Market size and forecast 2021-2026 ($ billion)
Exhibit 20: Professionally managed - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Management
Exhibit 21: Market opportunity by Management
6. Customer landscape
Exhibit 22: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
The regions covered in the report are:
- Europe
- North America
- APAC
- MEA
- South America
Exhibit 23: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 24: Geographic comparison
7.3 Europe - Market size and forecast 2021-2026
Exhibit 25: Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 26: Europe - Year-over-year growth 2021-2026 (%)
7.4 North America - Market size and forecast 2021-2026
Exhibit 27: North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 28: North America - Year-over-year growth 2021-2026 (%)
7.5 APAC - Market size and forecast 2021-2026
Exhibit 29: APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 30: APAC - Year-over-year growth 2021-2026 (%)
7.6 MEA - Market size and forecast 2021-2026
Exhibit 31: MEA - Market size and forecast 2021-2026 ($ billion)
Exhibit 32: MEA - Year-over-year growth 2021-2026 (%)
7.7 South America - Market size and forecast 2021-2026
Exhibit 33: South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 34: South America - Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 35: Key leading countries
7.9 Market opportunity by geography
Exhibit 36: Market opportunity by geography ($ billion)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Growing tourism industry and increasing popularity of short-term rental properties
8.1.2 Technological advances
8.1.3 Strategic partnerships
8.2 Market challenges
8.2.1 Risks associated with fraudulent vacation rental houses, apartments, and homestays
8.2.2 Stringent government regulations
8.2.3 Inconsistent service quality
Exhibit 37: Impact of drivers and challenges
8.3 Market trends
8.3.1 Instant bookings
8.3.2 Rapid growth of online booking
8.3.3 Adoption of effective promotional strategies
9. Vendor Landscape
9.1 Overview
9.2 Vendor landscape
Exhibit 38: Vendor landscape
9.3 Landscape disruption
Exhibit 39: Landscape disruption
Exhibit 40: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 41: Vendors covered
10.2 Market positioning of vendors
Exhibit 42: Market positioning of vendors
10.3 9flats.com PTE Ltd.
Exhibit 43: 9flats.com PTE Ltd. - Overview
Exhibit 44: 9flats.com PTE Ltd. - Product and service
Exhibit 45: 9flats.com PTE Ltd. - Key offerings
10.4 Agoda Co. Pte. Ltd.
Exhibit 46: Agoda Co. Pte. Ltd. - Overview
Exhibit 47: Agoda Co. Pte. Ltd. - Product and service
Exhibit 48: Agoda Co. Pte. Ltd. - Key offerings
10.5 Airbnb Inc.
Exhibit 49: Airbnb Inc. - Overview
Exhibit 50: Airbnb Inc. - Business segments
Exhibit 51: Airbnb Inc. - Key news
Exhibit 52: Airbnb Inc. - Key offerings
10.6 Expedia Group Inc.
Exhibit 53: Expedia Group Inc. - Overview
Exhibit 54: Expedia Group Inc. - Business segments
Exhibit 55: Expedia Group Inc. -Key news
Exhibit 56: Expedia Group Inc. - Key offerings
Exhibit 57: Expedia Group Inc. - Segment focus
10.7 Hotelplan Management AG
Exhibit 58: Hotelplan Management AG - Overview
Exhibit 59: Hotelplan Management AG - Product and service
Exhibit 60: Hotelplan Management AG - Key offerings
10.8 MakeMyTrip Ltd.
Exhibit 61: MakeMyTrip Ltd. - Overview
Exhibit 62: MakeMyTrip Ltd. - Business segments
Exhibit 63: MakeMyTrip Ltd. - Key offerings
Exhibit 64: MakeMyTrip Ltd. - Segment focus
10.9 NOVASOL AS
Exhibit 65: NOVASOL AS - Overview
Exhibit 66: NOVASOL AS - Product and service
Exhibit 67: NOVASOL AS - Key offerings
10.10 Oravel Stays Ltd.
Exhibit 68: Oravel Stays Ltd. - Overview
Exhibit 69: Oravel Stays Ltd. - Product and service
Exhibit 70: Oravel Stays Ltd. - Key offerings
10.11 TripAdvisor LLC
Exhibit 71: TripAdvisor LLC - Overview
Exhibit 72: TripAdvisor LLC - Business segments
Exhibit 73: TripAdvisor LLC - Key offerings
Exhibit 74: TripAdvisor LLC - Segment focus
10.12 Wyndham Hotels and Resorts Inc.
Exhibit 75: Wyndham Hotels and Resorts Inc. - Overview
Exhibit 76: Wyndham Hotels and Resorts Inc. - Business segments
Exhibit 77: Wyndham Hotels and Resorts Inc. - Key offerings
Exhibit 78: Wyndham Hotels and Resorts Inc. - Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objective
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 79: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 80: Research Methodology
Exhibit 81: Validation techniques employed for market sizing
Exhibit 82: Information sources
11.4 List of abbreviations
Exhibit 83: List of abbreviations
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