Advanced Telematics Solution and GPS Navigation Drive Growth of Car Rental Market

By , in PR PR Economy on .

New York, NY — 11/17/2017 — The new report study gives a complete overview of Global Car Rental Market. The insight of the car rental industry and how the technology has helped this segment to grow. The report provides in-depth analysis on a different type of car segments that are used in a rental industry.

The study of the report also explains major players and there strategies and demand. Apart from this how telematics solutions and urban lifestyle have changed the car rental industry. The report study and analysis base on various factors such as technology, key regions or countries that would have an impact on the market during the assessment years.

As per market research, analyst predicts that the global car rental market to grow at a CAGR at a 16.07% by 2020.

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The car rental market is expanding day by day due to changes in lifestyle, more business trips, and people started more traveling across the regions. Even the urban transport industry has upgraded themselves and offering more car rental services. In coming years, it predicted that car rental market to grow rapidly and expand all over the globe.

One of the factors for the growth of this industry is a different type of cars the report cover the following types Economy cars, Executive cars, Luxury cars, SUV cars, MUV cars. In this category, MUV cars leading the market due to their accommodation capacity.

As per the study, it is found that MUV will fastest growing segment in the global car rental market, and is anticipated to grow at a high CAGR of almost 19% by 2020. The major players like Enterprise Rent-A-Car and Sixt provide MUV vehicles at an affordable average price per day, which has increased the usage of these cars. Moreover, besides having beneficial features, these cars offer high speed and power capabilities.

The advance technology solutions have boost the car rental market. Many companies have added telematics services and GPS navigation into their car for more comfort and safety. Some automobile manufacturers are offering many new web-based solutions such as smartphones to simplify the drive. There is also an opportunity for online mobility booking agencies and obstacle-free booking and building a payment engine for car rental.

The car rental service providers offer different mileage rates, which makes long trips cost-effective for the customers. During past few years the airport transport segment dominated the car rental market and accounted for more than 42% of the total market share. The major like Enterprise Rent-A-Car, Getaround, and Relay Ride provide airport car rental services.

The market is divided into the following segments based on geography:
– APAC
– Europe
– North America
– ROW

The major players cover in the report are Avis Budget, Carzonrent, Enterprise Holding, Europcar, Hertz, Sixt, Advantage Rent a Car, Hermes Rent a Car, Dollar Thrifty Automotive Group, Eco Rent-A-Car, E-Z Rent-A-Car, Fox Rent-A-Car, Irish Car Rental, Island Car Rental, Midway Car Rental, Movida Rent A Car, National Car Rental, Payless Car Rental, Trust Middle East Car Rental, and Value Car Rental.

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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