by The global vacation rental market was exceeded 26.5 Billion in 2021 and is projected to reach US$ 111.2 billion by 2030, up 17.3 percent Year-Over-Year (2021-2030), according to a 2022 study by Precedence Research, the Canada-based market Insight Company.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2021 to 2030. The vacation rental market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).
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The global vacation rental market is primarily driven by the growth of the tourism industry. The rising awareness among the travelers regarding the availability of the vacation rental services and the rising tourism activities by the millennials are the major drivers of the vacation rental market.
The low cost availability of homes, big space, and comfort offered by the vacation rentals is boosting the adoption of the vacation rentals among the population. The millennials are projected to be the most significant drivers of the market. According to the Airbnb, the millennials and the younger generations will constitute around 75% of the tourist population by 2025. The increased penetration of internet and various social media platforms plays a crucial role in the spreading awareness about the destinations, hotels, restaurants, and vacation rentals among the population. The vacation rental market is fueled by the heavy investments pumped by the government towards the development of the connectivity and infrastructure especially in the developing nations is augmenting the market growth.
The rapid spread of the COVID-19 disease among across the globe resulted in the implementation of strict travelling restriction that forced the people to stay at their homes for indefinite time period. This resulted in huge losses to the revenue generation of the vacation rental industry. According to the World Tourism Organization, the tourism activities witnessed a fall of over 70% in 2020. The rapid pace of the vaccination drives across the globe is estimated to ramp up the growth of the vacation rental market from 2021. Moreover, the revenge tourism is a trending topic that is believed by the experts to significantly drive the growth of the vacation rental market during the first few years after the COVID-19 pandemic.
Scope of the Vacation Rental Market
| Report Coverage | Details |
| Market Size in 2020 | US$ 22.7 billion |
| Revenue Projection by 2030 | US$ 111.2 billion |
| Growth Rate | CAGR of 17.3% From 2021 to 2030 |
| Largest Market | Europe |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
Competitive Landscape Analysis:
Some of the leading companies operating in the vacation rental market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Major companies operating in this report are
- 9flats
- Airbnb
- Booking.com
- Expedia
- Hotelplan Management AG
- MAKEMYTRIP PVT. LTD.
- NOVASOL
- OYO Hotels & Homes
- TripAdvisor LLC
- Wyndham Destinations
- Trivago
- Agoda Company Pte. Ltd.
- Yatra Online Private Limited
- Hotwire, Inc.
- HotelsCombined
- Hotels.com
- BookingBuddy.com, Inc.
- priceline.com LLC
- KAYAK
Market Dynamics
Driver
The increasing penetration of the online and instant booking platforms
The rising popularity and the growing presence of the numerous online booking platforms that provides instant booking for the destinations are expected to drive the market. The consumers are offered instant ticket, hotels, restaurants, and traveling tickets booking and the conveniences and zero cancellation charges are the major policies that is expected to boost the growth of the vacation rental market during the forecast period.
Restraint
Risks of fraud involved in the online booking system
There are several security issues associated with the online ticket booking that can result in financial losses to the consumers as well as the vendors. The unethical sites, paid reviews, and fraudulent websites may hinder the growth of the global vacation rental market.
Opportunities
Various growth strategies adopted by the market players
The global vacation rental market is highly fragmented owing to the presence of numerous big players. Moreover, various developmental strategies adopted by them highly influences the market growth. For instance, in April 2019, Marriott International introduced Homes & Villas that offers 2,000 luxury homes across North America, Europe, and Latin America.
Report Highlights
- Based on the accommodation, the homes segment dominated the market with around 48% of the market share in 2020. The higher preferences for the homes as it is affordable, spacious, safe, and it perfectly serves the baby boomers. The rising investments by the market players in the development of various homes for the tourists for serving it as a vacation rental is further expected to fuel the market growth.
- Based on the booking mode, the online segment is expected to be the fastest-growing segment owing to the rising adoption of internet and smartphones among the population. Moreover, the rising popularity of various online service providers and the aggressive digital marketing strategies adopted by them is fueling the adoption of online booking mode across the globe.
Regional Snapshots
Europe dominated the global vacation rental market, garnering a market share of around 36% in 2020. The European countries such as Spain, Italy, France, Scotland, and Switzerland are expected to present lucrative growth opportunities to the market players operating in the vacation rental market. The aforementioned nations are well-known among the tourists for its exotic destinations. Moreover, the presence of well-connected and developed infrastructure has resulted in the emergence of Europe as the top vacation rental market.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. The increasing investments by the government in the development of the tourism sector in the countries such as Singapore, Thailand, Vietnam, and India is a augmenting the market growth. Furthermore, the rising awareness among the tourists regarding the availability of the vacation rental market is fueling the demand for the vacation rentals in the region.
Market Segmentation
By Accommodation
- Apartments
- Homes
- Resorts
- Others
By Booking Mode
- Offline
- Online
Regional Segmentation
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global vacation rental market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for vacation rental are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Vacation Rental Market
5.1. COVID-19 Landscape: Vacation Rental Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Vacation Rental Market, By Accommodation
8.1. Vacation Rental Market, by Accommodation Type, 2021-2030
8.1.1. Apartments
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Homes
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Resorts
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Vacation Rental Market, By Booking Mode
9.1. Vacation Rental Market, by Booking Mode, 2021-2030
9.1.1. Offline
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Online
9.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Vacation Rental Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.1.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.1.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.1.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.2.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.2.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.2.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.2.5.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.2.6.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.3.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.3.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.3.5.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.3.6.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.4.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.4.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.4.5.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.4.6.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.5.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.5.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)
10.5.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)
Chapter 11. Company Profiles
11.1. 9flats
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Airbnb
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Booking.com
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Expedia
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Hotelplan Management AG
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. MAKEMYTRIP PVT. LTD.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. NOVASOL
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. OYO Hotels & Homes
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. TripAdvisor LLC
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Wyndham Destinations
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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