[Latest] Global Vacation Rental Market Size/Share Worth USD

Austin, TX, USA, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Vacation Rental Market Size, Trends, and Insights By Accommodation Type (Home, Resort/Condominium, Apartments), By Booking Mode (Online, Offline), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Vacation Rental Market size & share was valued at approximately USD 92.53 Billion in 2022 and is expected to reach USD 117.47 Billion in 2023 and is expected to reach a value of around USD 317.76 Billion by 2032, at a compound annual growth rate (CAGR) of about 13.97% during the forecast period 2023 to 2032.”

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Vacation Rental Market: Overview

Many countries have put measures into place that are beneficial to the expansion of the tourist sector globally. Vacation rental homes are in high demand due to the rise in vacationers around the world. The travel and tourism sector has grown tremendously in large part due to the baby boom generation. Particularly rising is the demand for short-term rental homes for vacationers. These properties produce greater returns than long-term rental properties when they are correctly marketed.

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Growth Factors

The millennial demographic is driving the global vacation rental market with rising travel, vacation, and lodging spending. Millennials make up 200,000 million of the world’s travellers, and they spend over 180 billion dollars on travel annually, according to Copyrise.

Due to their lower prices compared to hotels, vacation rentals are also becoming more and more in demand. According to Stratos Jet Charters, Inc. statistics, there are currently 2.9 million hosts using Airbnb worldwide, and each month in 2021, there will be more than 14,000 new hosts. Additionally, as of 2021, there will be about 100,000 cities with active Airbnb listings across the company’s 220 operating nations.

Consumer knowledge of services and offerings is growing as a result of social media and the internet. A number of services, exotic places, and amenities are being offered specifically for female visitors by key firms in an effort to capture market share. For instance, Golightly, a platform for holiday rentals run entirely by women and open to female guests only, was introduced in January 2020. More than 350 properties are owned by the corporation worldwide.

(A free sample of the Vacation Rental report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Vacation Rental report has been modified to include the COVID-19 impact study prior to delivery.)

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Segmental Overview

The market for Vacation Rental is segmented into accommodation type and booking mode. In 2021, the offline booking method had a market share of approximately 70.0% in revenue. This is explained by the fact that Baby Boomers and Gen X make up most of the consumers and prefer offline booking methods. It is predicted that as internet and smartphone usage among customers rises, so will consumers’ propensity for online booking.

With a market share of more than 45.0% in terms of revenue in 2021, the home accommodation type segment led the market. This is explained by the high appeal of residences among tourists due to their accessibility to services, availability of space, and sense of security. In addition, the cheap cost of lodging in rural and tourist regions is a key factor in the segment’s growth.

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Regional Overview

In 2021, Europe commanded a market share of nearly 30%. This is attributable to large and online travel agencies catching up with the burgeoning glamping trend and rising costs for lodging at hotels and condos. Over the projected period, it is predicted that the U.K. and Germany will dominate the market. According to projections, the U.K. market will expand the fastest in the region.

From 2022 to 2030, Asia Pacific is anticipated to have the greatest rate. The increase is primarily related to consumers’ growing travel and lodging expenses. In the area, China had the greatest revenue share in 2021, and it is predicted that it would continue to lead in the years to come. It is also predicted that increased traveller spending from other developing nations, such as Australia, the Philippines, Vietnam, and India, will drive market expansion in the region.

Report Scope

Feature of the Report	Details
Market Size in 2021	USD 92.53 Billion
Projected Market Size in 2030	USD 317.76 Billion
Market Size in 2022	USD 117.47 Billion
CAGR Growth Rate	13.97 % CAGR (2022-2030)
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Accommodation Type, Booking Mode, and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

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Key questions answered in this report:

What is the size of the Vacation Rental market and what is its expected growth rate?
What are the primary driving factors that push the Vacation Rental market forward?
What are the Vacation Rental Industry's top companies?
What are the different categories that the Vacation Rental Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Vacation Rental market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Competitive Landscape

The reports also assist in comprehending the dynamics and organizational structure of the worldwide vacation rental industry by looking at market groups and estimating market sizes. The study serves as an investor’s guide thanks to its clear depiction of competitive analysis of key companies by product, price, financial condition, product portfolio, growth plans, and regional presence in the worldwide Vacation Rental market.

2022: Here, a US-based company began attracting funds for those who wanted to purchase holiday rental units as early as $100. The business has so far raised more than $5 million in a startup round.
2022: With the acquisition of Avantio, a provider of vacation rental management software and services, Planet, a multinational technology business, increased its market share in the hotel sector.
2022: Jerry Jones, the owner of the Dallas Cowboys, made an undisclosed investment in a software firm that works with the hotel and vacation rental industries.

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Prominent Players

9flats
Booking.com
Hotelplan Management AG
MAKEMYTRIP PVT. LTD.
OYO Hotels & Homes
Trivago
Agoda Company Pte. Ltd.
Yatra Online Private Limited
Hotwire, Inc.
HotelsCombined
Hotels.com
BookingBuddy.com, Inc.
priceline.com LLC
KAYAK
Google
Airbnb Inc.
Booking Holdings Inc.
Hotelplan Holding AG
MakeMyTrip Pvt. Ltd.
Expedia Group Inc.
NOVASOL AS
Oravel Stays Pvt. Ltd.
Wyndham Destinations Inc.
TripAdvisor Inc.
Others

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Spectacular Deals

Comprehensive coverage
Maximum number of market tables and figures
The subscription-based option is offered.
Best price guarantee
Free 35% or 60 hours of customization.
Free post-sale service assistance.
25% discount on your next purchase.
Service guarantees are available.
Personalized market brief by author.

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The global Vacation Rental market is segmented as follows:

By Accommodation Type

Home
Resort/Condominium
Apartments
Hometown
Villas

By Booking Mode

Online
Offline
Others

By Price Point

Economic
Mid Range
Luxury

By Location Type

Resort Area
Rural Area
Small Town
Others

By End User Generation

Gen Z
Millennials
Gen X
Boomers

Click Here to Get a Free Sample Report of the Global Vacation Rental Market @ https://www.custommarketinsights.com/report/vacation-rental-market/

By Region

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Vacation Rental Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Vacation Rental Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Vacation Rental Market? What Was the Capacity, Production Value, Cost and PROFIT of the Vacation Rental Market?
What Is the Current Market Status of the Vacation Rental Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Vacation Rental Market by Considering Applications and Types?
What Are Projections of the Global Vacation Rental Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Vacation Rental Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Vacation Rental Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Vacation Rental Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Vacation Rental Industry?

Click Here to Access a Free Sample Report of the Global Vacation Rental Market @ https://www.custommarketinsights.com/report/vacation-rental-market/

Reasons to Purchase Vacation Rental Market Report

Vacation Rental Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Vacation Rental Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Vacation Rental Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Vacation Rental Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Vacation Rental market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Vacation Rental market analysis.

The competitive environment of current and potential participants in the Vacation Rental market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Vacation Rental market should find this report useful. The research will be useful to all market participants in the Vacation Rental industry.
Managers in the Vacation Rental sector are interested in publishing up-to-date and projected data about the worldwide Vacation Rental market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Vacation Rental products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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