Vacation Rental Market by Mangement and Geography - Forecast and Analysis 2020-2024
- Published: Oct 2020
- Pages: 120
- SKU: IRTNTR40053
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The vacation rental market share is expected to increase by USD 62.97 billion from 2020 to 2024, and the market’s growth momentum will accelerate at a CAGR of 7%.
This vacation rental market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by management (managed by owners and professionally managed) and geography (APAC, Europe, MEA, North America, and South America). The vacation rental market report also offers information on several market vendors, including 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. among others.
What will the Vacation Rental Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Vacation Rental Market Size for 2020 and Other Important Statistics
Vacation Rental Market: Key Drivers and Trends
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The adoption of effective promotional strategies is notably driving the vacation rental market growth, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vacation rental market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Vacation Rental Market Key Driver
One of the key factors driving growth in the vacation rental market is the growing tourism industry and the increasing popularity of short-term rental properties. The expansion of the tourism industry significantly contributes to a country's GDP. 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. Thus, the growth of the tourism industry and an increase in the number of domestic and international travelers have positively impacted the demand for vacation rental properties.
Vacation Rental Market Key Trend
Instant booking is another major factor supporting the vacation rental market share growth. The trend of instant bookings positively impacts the growth of the global vacation rental market as such booking processes are associated with minimal or zero wait time. Online vacation rental sites also facilitate real-time bookings. This value-addition will improve the convenience of booking vacation rentals, leading to increased customer satisfaction. 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.
Vacation Rental Market Key Challenge
The risks associated with fraudulent vacation rental houses, apartments, and homestays will be a major challenge for the vacation rental market. Scams, fraudulent reviews, and unethical dealings affect the operations of key vendors in the market. Though such dealings are undertaken by counterfeit players, they impact the business operations of key market vendors as well. This leads to a decline in market revenue and hinders its growth. However, fraudulent advertisements, adoption of the bait-and-switch technique, and double booking have led to a decline in the overall market revenue. The increased probability of risks can lead to customers shifting to alternative forms of lodgings such as hotels. This restrains the growth of the global vacation rental market.
This vacation rental market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Parent Market Analysis
The global specialized consumer services market is a related market of the global vacation rental market. From a comparison analysis, Technavio has analyzed the global specialized consumer services market as a related market to set the context in which the global vacation rental market will be analyzed. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market in focus during the forecast period.
Who are the Major Vacation Rental Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- 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.
- Wyndham Destinations Inc.
This statistical study of the vacation rental market encompasses successful business strategies deployed by the key vendors. The vacation rental market is fragmented and the vendors are deploying growth strategies such as innovative advertising approached primarily through various social media platforms, including Facebook and Instagram, to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vacation rental market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Vacation Rental Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the industry includes the following core components:
- Marketing and sales
- Support activities
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Vacation Rental Market?
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37% of the market’s growth will originate from Europe during the forecast period. Spain, France, and Italy are the key markets for vacation rental market in Europe.
The growth of the travel and tourism industry contributes to the growth of the vacation rental market in the region. Also, increased customer awareness towards rental vacation services contributes to the growth of the vacation rental market in Europe. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Management Segments in the Vacation Rental Market?
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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 this segment. There is also a significant demand for premium properties, which provide transparency and better connectivity.
This report provides an accurate prediction of the contribution of all the segments to the growth of the vacation rental market size and actionable market insights on post COVID-19 impact on each segment.
Vacation Rental Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7%
Market growth 2020-2024
USD 62.97 billion
YoY growth (%)
North America, APAC, Europe, South America, and MEA
Performing market contribution
Europe at 37%
Key consumer countries
Spain, France, and Italy
Leading companies, Competitive strategies, Consumer engagement scope
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.
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
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Factors Covered in this Vacation Rental Market Report?
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive vacation rental market growth during the next five years
- Precise estimation of the vacation rental market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the vacation rental market industry across North America, APAC, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vacation rental market vendors
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1. Executive Summary
Exhibit 01: Key finding 1
Exhibit 02: Key finding 2
Exhibit 03: Key finding 3
Exhibit 04: Key finding 4
Exhibit 05: Key finding 10
Exhibit 06: Key finding 11
Exhibit 07: Key finding 12
Exhibit 08: Key finding 13
Exhibit 09: Key finding 14
Exhibit 10: Key finding 15
2. Scope of the report
Exhibit 11: Years in consideration
Exhibit 12: Vendor: Key offerings
2.3 Currency conversion rates for US$
Exhibit 13: Currency conversion rates for US$
3. Market Landscape
Exhibit 14: Global Specialized Consumer Services Market
Exhibit 15: Segments of global Specialized Consumer Services Market
Exhibit 16: Market characteristics
Exhibit 17: Market characteristics analysis
Exhibit 18: Market segments
4. Market Sizizng
Exhibit 19: Market definition - Inclusions and exclusions checklist
Exhibit 20: Market size 2019
Exhibit 21: Global market: Size and forecast 2019-2024 ($ billions)
Exhibit 22: Global market: Year-over-year growth 2020-2024 (%)
5. Five Forces Analysis
Exhibit 23: Five forces analysis 2019
Exhibit 24: Five forces analysis 2024
Exhibit 25: Bargaining power of buyers
Exhibit 26: Bargaining power of suppliers
Exhibit 27: Threat of new entrants
Exhibit 28: Threat of substitutes
Exhibit 29: Threat of rivalry
Exhibit 30: Market condition - Five forces 2019
6. Customer landscape
Exhibit 31: Customer Landscape
Exhibit 32: Customer landscape analysis
7. Geographic Landscape
Exhibit 33: Market share by geography 2019-2024 (%)
Exhibit 34: Geographic comparison
Exhibit 35: Comparison_5
Exhibit 36: Europe - Market size and forecast 2019-2024 ($ billions)
Exhibit 37: Europe - Year-over-year growth 2020-2024 (%)
Exhibit 38: North America - Market size and forecast 2019-2024 ($ billions)
Exhibit 39: North America - Year-over-year growth 2020-2024 (%)
Exhibit 40: APAC - Market size and forecast 2019-2024 ($ billions)
Exhibit 41: APAC - Year-over-year growth 2020-2024 (%)
Exhibit 42: MEA - Market size and forecast 2019-2024 ($ billions)
Exhibit 43: MEA - Year-over-year growth 2020-2024 (%)
Exhibit 44: South America - Market size and forecast 2019-2024 ($ billions)
Exhibit 45: South America - Year-over-year growth 2020-2024 (%)
Exhibit 46: Key leading countries
Exhibit 47: Country_Legend_16
Exhibit 48: Market Opportunity
8 Market segmentation by management
Exhibit 49: Management - Market share 2019-2024 (%)
Exhibit 50: Comparison by management
Exhibit 51: Comparison_7
Exhibit 52: Managed by owners - Market size and forecast 2019-2024 ($ billions)
Exhibit 53: Managed by owners - Year-over-year growth 2020-2024 (%)
Exhibit 54: Professionally managed - Market size and forecast 2019-2024 ($ billions)
Exhibit 55: Professionally managed - Year-over-year growth 2020-2024 (%)
Exhibit 56: Market opportunity by management
9. Decision Framework
Exhibit 57: Decision framework
10. Drivers and challenges
Exhibit 58: International tourist arrivals 2011-2016 (millions)
Exhibit 59: Impact of drivers and challenges
11. Market Trends
12. Vendor landscape
Exhibit 60: Vendor landscape
Exhibit 61: Landscape disruption
Exhibit 62: Vendor landscape analysis
13. Vendor analysis
Exhibit 63: Vendors covered
Exhibit 64: Vendor_analysis1
Exhibit 65: Vendor classification
Exhibit 66: Market positioning of vendors
Exhibit 67: 9flats.com Pte Ltd. - Vendor overview
Exhibit 68: 9flats.com Pte Ltd. - Product segments
Exhibit 69: 9flats.com Pte Ltd. - Organizational developments
Exhibit 70: 9flats.com Pte Ltd. - Key offerings
Exhibit 71: Airbnb Inc. - Vendor overview
Exhibit 72: Airbnb Inc. - Product segments
Exhibit 73: Airbnb Inc. - Organizational developments
Exhibit 74: Airbnb Inc. - Key offerings
Exhibit 75: Booking Holdings Inc. - Vendor overview
Exhibit 76: Booking Holdings Inc. - Business segments
Exhibit 77: Booking Holdings Inc. - Organizational developments
Exhibit 79: Booking Holdings Inc. - Segment focus
Exhibit 80: Booking Holdings Inc. - Key offerings
Exhibit 81: Expedia Group Inc. - Vendor overview
Exhibit 82: Expedia Group Inc. - Business segments
Exhibit 83: Expedia Group Inc. - Organizational developments
Exhibit 84: Expedia Group Inc. - Geographic focus
Exhibit 85: Expedia Group Inc. - Segment focus
Exhibit 86: Expedia Group Inc. - Key offerings
Exhibit 87: Hotelplan Holding AG - Vendor overview
Exhibit 88: Hotelplan Holding AG - Business segments
Exhibit 89: Hotelplan Holding AG - Organizational developments
Exhibit 90: Hotelplan Holding AG - Segment focus
Exhibit 92: MakeMyTrip Pvt. Ltd. - Vendor overview
Exhibit 93: MakeMyTrip Pvt. Ltd. - Business segments
Exhibit 94: MakeMyTrip Pvt. Ltd. - Organizational developments
Exhibit 95: MakeMyTrip Pvt. Ltd. - Geographic focus
Exhibit 96: MakeMyTrip Pvt. Ltd. - Segment focus
Exhibit 97: MakeMyTrip Pvt. Ltd. - Key offerings
Exhibit 98: NOVASOL AS - Vendor overview
Exhibit 99: NOVASOL AS - Business segments
Exhibit 100: NOVASOL AS - Organizational developments
Exhibit 101: NOVASOL AS - Key offerings
Exhibit 102: Oravel Stays Pvt. Ltd. - Vendor overview
Exhibit 103: Oravel Stays Pvt. Ltd. - Product segments
Exhibit 104: Oravel Stays Pvt. Ltd. - Organizational developments
Exhibit 105: Oravel Stays Pvt. Ltd. - Key offerings
Exhibit 106: TripAdvisor Inc. - Vendor overview
Exhibit 107: TripAdvisor Inc. - Business segments
Exhibit 108: TripAdvisor Inc. - Organizational developments
Exhibit 109: TripAdvisor Inc. - Geographic focus
Exhibit 110: TripAdvisor Inc. - Segment focus
Exhibit 111: TripAdvisor Inc. - Key offerings
Exhibit 112: Wyndham Destinations Inc. - Vendor overview
Exhibit 113: Wyndham Destinations Inc. - Business segments
Exhibit 114: Wyndham Destinations Inc. - Organizational developments
Exhibit 115: Wyndham Destinations Inc. - Geographic focus
Exhibit 116: Wyndham Destinations Inc. - Segment focus
Exhibit 117: Wyndham Destinations Inc. - Key offerings
Exhibit 118: Research framework
Exhibit 119: Validation techniques employed for market sizing
Exhibit 120: Information sources
Exhibit 121: List of abbreviations
Exhibit 122: Definition of market positioning of vendors
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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