Short-Term Rental Platform Market: Riding the 19.1% CAGR Wave Towards US$ 25,829.9 Million

The adoption of short-term rental platforms is expected to grow at a CAGR of 19.1%. The market for short-term rental platforms is expected to grow from US$ 4,503.2 million in 2022 to US$ 25,829.9 million by 2032.

Key factors driving the global short-term rental platform market growth are the growing tourism industry and the increasing popularity of short-term rental properties. The increased number of tourists worldwide creates a high demand for vacation rental properties.

Due to new integrated apps and software, the short-term rental platform industry is extremely profitable and has been rapidly expanding in recent years. Short-term rentals and their numerous advantages are gaining popularity among the global market. Government investments in connectivity and infrastructure development, particularly in developing countries, are boosting market growth in the short-term rental platform market.

The rise in popularity of short-term rentals, which allow travellers to book local stays for their vacation, workcation, or even digital nomad life, has been one of the most important trends in this space. It means that those who provide vacation rentals will have more customers to cater to, as well as increased market competition.

Request for a Sample of this Research Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-15826

Key Takeaways from Market Study

North America is likely to capture the highest market share of 24.6%. The United States is the leading country in the rental services, and it is significantly contributing to the growth of North America’s short-term rental platform share.

China would grow at the highest rate in the Asia-Pacific with a CAGR of 11.3% owing to the growing initiatives led by authorities to promote the tourist industry to generate revenue, create jobs, and promote the region’s overall development.

With a 44.8% market share, the web-based short-term rental segment dominates the short-term platform rental market.  Due to the technological advancements, many rental companies have adopted an online mode of communication to reach out to customers.

The travel and tourism industries account for approximately 10% of global GDP and jobs, according to the World Travel & Tourism Council, with the short-term accommodations segment representing a rapidly growing share of this market. These are enormous economic domains that are undergoing significant transformations.

As the vacation rental industry grows, Lodgify, a traveltech startup, has just raised €30 million for its vacation rental software. The travel industry has had a year of impressive and sustained growth, demonstrating the tenacity of travel tech innovators and startups in recent years.

Competitive Landscape

The presence of a few established players as well as new entrants distinguishes the market. Many major players are focusing more on the expanding vacation rental trend. To maintain market share, market participants are diversifying their service offerings. Strategic partnerships, mergers and acquisitions, and R&D activities can help these companies expand their market footprint.

Latest Developments in the Short-Term Rental Platform Market

Meredith Lodging planned to expand into the Mount Hood region in June 2022 by acquiring Mt Hood Vacation Rentals.

Hotels in Latin America will band together in June 2022 to launch their own online booking platform and tools.

Booking Holdings Inc. purchased Getaroom from Court Square Capital Partners for USD 1.2 billion in December 2021. The brand hopes to increase the value of its pipeline through this acquisition.

Tripadvisor will launch two new hotel technology solutions, Spotlight and Reputation Pro, in October 2020. Both want to improve their hospitality businesses by increasing traveller trust, attracting new customers, and making data-driven decisions to increase profitability. 

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global Short-term rental platform market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on product type (Bread, Cakes, Pizza Bases, Muffin, Hamburgers, and Other Product Types), Application (Bakery, Confectionary, Restaurant, Household), and Sales Channel (Direct, Indirect) across seven major regions of the world.

Comments

Post a Comment

Popular posts from this blog

Inventory Management Software Market Insights, Deep Analysis of Key Companies in the Industry 2022 to 2028

Image
The global inventory management software market is projected to achieve a market value of approximately US$ 3,291.1 million by the year 2028, with a steady CAGR of around 11.2% anticipated for the period spanning from 2022 to 2028. The demand for inventory management software is a significant portion, making up about 25% of the entire global market for warehouse management systems. One of the main reasons for this is the growing preference for simple and user-friendly tools to keep track of assets. Additionally, a notable trend contributing to this market's growth is the increased use of interconnected devices. The increasing need for better inventory management in the manufacturing industry is boosting the market. When there's not enough inventory, manufacturing can come to a stop. And if inventory isn't managed well, it can cause problems for manufacturing companies' productivity. Request for a Sample of this Research Report: https://www.futuremarketinsights.com/re
Read more

Embedded Banking Market: Key Players, Applications, Outlook, SWOT Analysis And Forecasts 2022 to 2032

Image
The  embedded banking market would develop at a considerable CAGR of roughly 22.1% between 2022 and 2032, according to the Future Market Insights (FMI) embedded banking industry report. The market will be valued at US$ 14.5 Billion by 2022 and US$ 106.8 Billion by 2032 according to the analysis. Embedded finance has already begun to expedite financial operations in both consumer and business transactions by lowering the barriers to entry for various products and services, according to Future Market Insights. The introduction of financial services or instruments, normally obtained through a bank, within the products or services of a non-financial company, is referred to as embedded finance. People used to have to physically go to a bank to get a loan, or a business buyer would have to spend hours filling out paperwork to get trade credit. These services are now commonly available at retail locations. Embedded Banking Market Request for a Sample of this Research Report: https://www.fu
Read more

Sports Betting Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Image
The sports betting market is predicted to be worth US$ 91,940.9 million in 2023, rising at a CAGR of 10.3% to US$ 245,792.4 million by 2033. The expanding prevalence of connected devices, sports betting implementation, and developing digital infrastructure all add to the increasing demand for sports betting. The increased desire for the digitalization of sports betting might have a positive effect on the online section of the sports betting industry, which is expected to enjoy substantial growth throughout the projected period. However, to provide consumers with new sports betting market options for employment and enriching experiences, several governments are establishing frameworks influencing forthcoming trends in the sports betting market. Request for a Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-15132 One of the important developments in the sports betting market is the expanding impact of technologies including blockchain, virtua
Read more