Rise in Global Travel Drives Opportunities in the Car Rental Business, According to New Report by Global Industry Analysts, Inc.
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Follow us on LinkedIn - Car rental, an integral part of the global travel and transportation industry, represents a major market worldwide. Globalization and the ensuing rise in global travel over the decades have supported the growth and development of the car rental industry worldwide. The market largely depends on air travel since it provides the connecting land transportation for air travelers. Industrial development and geographic expansion in commercial operations of business organizations across the globe have translated into increased business trips, and subsequently more number of air flights in operation, thereby benefiting demand for car rental services. Growth in the number of travelers on pleasure trips has also added substantial percentage of inbound traffic to tourist destinations. The gradual economic improvement in
With the total cost of ownership (TCO) of a car increasing against the backdrop of rising fuel prices, consumers are increasingly looking to rent cars for short period of time, on hourly basis, thereby reducing the rental charges. Though in a nascent stage, the luxury car rental market is gathering momentum, particularly in
The market is also witnessing a shift towards greener, more environmentally cars like electric, natural-gas, and hybrid cars. In the coming years, information technology will continue to encourage the evolution of a new breed of car rental companies capable of leveraging technologies such as GPS/satellite navigation/telematics, and Internet to optimize the efficiency of fleet management, reduce fleet costs, increase revenue-per-rental, enhance booking/reservation efficiencies and offer value to customers.
As stated by the new market research report on Car Rental Business,
Major players covered in the report include
The research report titled "Car Rental Business: A Global Strategic Business Report" announced by
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Car_Rental_Business_Market_Report.asp
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