LONDON–(BUSINESS WIRE)–Technavio has been monitoring the vacation rental market and it is poised to grow by USD 62.97 bn during 2020-2024, progressing at a CAGR of almost 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the vacation rental market. The market growth in 2020 is likely to increase compared to market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
Technological advance is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 5.51% and the incremental growth of the market is anticipated to be $ 62.97 billion.
Who are the top players in the market?
9flats.com Pte Ltd., Airbnb Inc., Booking Holdings Inc., Expedia Group Inc., Hotelplan Holding AG, MakeMyTrip Pvt. Ltd., NOVASOL AS, Oravel Stays Pvt. Ltd., TripAdvisor Inc., and Wyndham Destinations Inc, are some of the major market participants.
What is the key market driver?
The adoption of effective promotional strategies is one of the major factors driving the market.
How big is the Europe market?
The Europe region will contribute 37% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 9flats.com Pte Ltd., Airbnb Inc., Booking Holdings Inc., Expedia Group Inc., Hotelplan Holding AG, MakeMyTrip Pvt. Ltd., NOVASOL AS, Oravel Stays Pvt. Ltd., TripAdvisor Inc., and Wyndham Destinations Inc. are some of the major market participants. The adoption of effective promotional strategies will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this vacation rental market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Vacation Rental Market 2020-2024: Segmentation
Vacation Rental Market is segmented as below:
- Managed By Owners
- Professionally Managed
- Graduate Courses
- Certifications And Training
- Post-graduate Courses
- North America
- South America
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