Vacation rental market to grow by USD 84.41 Bn: Specialized consumer services market is the parent market - Technavio
NEW YORK, Dec. 7, 2022 /PRNewswire/ -- The global vacation rental market has been categorized as a part of the global specialized consumer services market. The parent market, the global specialized consumer services, covers revenue generated by the consumer service providers, including residential services, home security services, legal services, personal services, renovation and interior design services, consumer auction services, wedding services, and funeral services.
The vacation rental market size is forecast to grow by USD 84.41 billion, at a CAGR of 8.54% between 2022 and 2027, according to Technavio, Download a sample
Vacation rental Market 2022-2026: Scope
The vacation rental market report covers the following areas:
The global vacation rental market is fragmented due to the presence of many established and regional vendors. International players are focused on increasing their market footprint. To survive in the growing competition, regional players are diligently utilizing their resources. The competitive environment in the global vacation rental market is likely to increase further during the forecast period with increased product or service extensions and technological innovations.
9flats.com PTE Ltd., Accor SA, Agoda Co. Pte. Ltd., Airbnb Inc., Bennington Properties LLC, Bluefish Vacation Rentals, BoutiqueHomes, Clickstay Ltd., Elite Destination Homes, Elite LLC, Expedia Group Inc., Holidu GmbH, Hotelplan Management AG, MakeMyTrip Ltd., and NOVASOL AS are among some of the major market participants.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Buy the Report
Vacation rental Market 2022-2026: Segmentation
Management
Managed by owners
Professionally managed
The managed by owners segment held the largest share of the market in 2022. Most players in this segment are small private hotels and resort landlords who manage their own property. Factors such as the need for increased personal interaction and improved customer satisfaction are driving the growth of the segment.
Geography
Europe
North America
APAC
South America
Middle East And Africa
Europe is estimated to account for 37% of the market's growth during the forecast period. The presence of several established players, the rise in the number of new startups, and increased funding from high-profile investors are driving the growth of the regional market. In addition, the increased customer awareness towards rental vacation services and a rise in the number of tourists who want to stay in vacation rentals instead of hotel rooms are contributing to the growth of the vacation rental market in Europe.
The vacation rental market size in Europe is expected to increase by USD 29.23 billion from 2021 to 2026, at a CAGR of 8.18%. The market is segmented by management (managed by owners and professionally managed) and geography (UK, France, Italy, Spain, and Rest of Europe).
The travel insurance market size is expected to increase by USD 9.88 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.23%. The market is segmented by end-user (senior citizens, business travel, family travel, and others) and geography (North America, Europe, APAC, MEA, and South America).
Vacation Rental Market Scope
Report Coverage
Details
Page number
157
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 8.54%
Market growth 2023-2027
USD 84.41 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
5.72
Regional analysis
Europe, North America, APAC, Middle East and Africa, and South America
Performing market contribution
Europe at 37%
Key countries
US, China, UK, France, and Italy
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
9flats.com PTE Ltd., Accor SA, Agoda Co. Pte. Ltd., Airbnb Inc., Bennington Properties LLC, Bluefish Vacation Rentals, BoutiqueHomes, Clickstay Ltd., Elite Destination Homes, Elite LLC, Expedia Group Inc., Holidu GmbH, Hotelplan Management AG, MakeMyTrip Ltd., NOVASOL AS, Oravel Stays Ltd., Places4stay SL, TripAdvisor LLC, World Travel Holdings, and Wyndham Hotels and Resorts Inc.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of contents:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Management
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Mode of Booking
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global vacation rental market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on Global vacation rental market 2017 - 2021 ($ billion)
Exhibit 132: Expedia Group Inc. - Business segments
Exhibit 133: Expedia Group Inc. - Key offerings
Exhibit 134: Expedia Group Inc. - Segment focus
12.11 Hotelplan Management AG
Exhibit 135: Hotelplan Management AG - Overview
Exhibit 136: Hotelplan Management AG - Product / Service
Exhibit 137: Hotelplan Management AG - Key offerings
12.12 MakeMyTrip Ltd.
Exhibit 138: MakeMyTrip Ltd. - Overview
Exhibit 139: MakeMyTrip Ltd. - Business segments
Exhibit 140: MakeMyTrip Ltd. - Key offerings
Exhibit 141: MakeMyTrip Ltd. - Segment focus
12.13 NOVASOL AS
Exhibit 142: NOVASOL AS - Overview
Exhibit 143: NOVASOL AS - Product / Service
Exhibit 144: NOVASOL AS - Key offerings
12.14 Oravel Stays Ltd.
Exhibit 145: Oravel Stays Ltd. - Overview
Exhibit 146: Oravel Stays Ltd. - Product / Service
Exhibit 147: Oravel Stays Ltd. - Key offerings
12.15 TripAdvisor LLC
Exhibit 148: TripAdvisor LLC - Overview
Exhibit 149: TripAdvisor LLC - Business segments
Exhibit 150: TripAdvisor LLC - Key offerings
Exhibit 151: TripAdvisor LLC - Segment focus
12.16 World Travel Holdings
Exhibit 152: World Travel Holdings - Overview
Exhibit 153: World Travel Holdings - Product / Service
Exhibit 154: World Travel Holdings - Key offerings
12.17 Wyndham Hotels and Resorts Inc.
Exhibit 155: Wyndham Hotels and Resorts Inc. - Overview
Exhibit 156: Wyndham Hotels and Resorts Inc. - Business segments
Exhibit 157: Wyndham Hotels and Resorts Inc. - Key offerings
Exhibit 158: Wyndham Hotels and Resorts Inc. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 159: Inclusions checklist
Exhibit 160: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 161: Currency conversion rates for US$
13.4 Research methodology
Exhibit 162: Research methodology
Exhibit 163: Validation techniques employed for market sizing
Exhibit 164: Information sources
13.5 List of abbreviations
Exhibit 165: List of abbreviations
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