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Vacational Rental Market to Reach $279.5 Billion, Globally, by 2033 at 11.2% CAGR: Allied Market Research

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WILMINGTON, Del., Aug. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Vacational Rental Market by Accommodation (Home, Condos, Hometown and Villas), Price Point (Economic, Mid-Range, and Luxury), Booking Type (Online Travel Agency, Direct Booking and Others), Location Type (Resort Area, Rural Area, Small Town and Others), and End User Generation (Gen Z, Millennials, Gen X, and Boomers): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the vacational rental market was valued at $97.8 billion in 2023, and is estimated to reach $279.5 billion by 2033, growing at a CAGR of 11.2% from 2024 to 2033.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/A06557

Prime determinants of growth 

The primary drivers of the expansion of the vacation rental market include rise in demand for distinctive travel experiences, driven by people’s need for flexibility and space, and technological developments that simplify booking procedures. Furthermore, cost-effectiveness of immersive travel experiences in comparison to traditional hotel accommodations is contributing to its increasing popularity. Moreover, maintenance of high-quality standards, address to security concerns, and adoption of several opportunities for market expansion and innovation are essential for sustained growth.

Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2033

Base Year

2023

Market Size in 2022

$97.8 billion

Market Size in 2033

$279.5 billion

CAGR

11.2 %

No. of Pages in Report

250

Segments Covered

Accommodation, Price Point, Booking Type, Location Type, End User Generation, and Region

Drivers 

 Increased demand for unique experiences Flexibility and space Advancements in technology Rise in travel trends

 

Opportunities

 Enhanced guest experiences Expansion into new markets Innovation in technology

 

Restraints

 Regulatory challenges Dependence on the travel industry

 

Procure Complete Report (250 Pages PDF with Insights, Charts, Tables, and Figures):  https://tinyurl.com/3d7vddrx

Segment Highlights

Travelers have access to a wide range of options across the globe due to surge in the vacation rental industry for homes. There is accommodation available to cater to every preference and financial plan, ranging from luxurious villas offering breathtaking sea views to charming cabins settled in the serene woods. Homeowners use platforms such as Airbnb, VRBO, and Booking.com to market their properties and interact with prospective guests interested in renting for a short period of time. These online platforms provide an effective way for homeowners to connect with a wide range of travelers who are in search of accommodation for various purposes, including holidays, business trips, or any other personal reasons. The demand for vacation rentals shows no indications of slowing down, indicating continuous expansion in the sector as travelers seek privacy, space, and immersion in the local culture increasingly.

Customers seeking mid-range vacation rental, prioritizing affordability and quality to take services. Properties usually provide cozy comforts and contemporary conveniences without the premium price tag. These rentals frequently provide dependable Wi-Fi, comfortable living areas, and well-equipped kitchens. Having a strategic location near popular attractions or scenic spots is highly advantageous for businesses. It attracts the target audience and enhances their overall satisfaction. Usually ranging from $100 to $300 per night, pricing considers the property’s characteristics, location, and seasonal demand. Excellent customer service and individualized touches make rental stand out in this competitive market and encourage repeat business.

Direct reservations in the vacation rental sector provide several benefits for both hosts and guests. Hosts potentially increase their earnings by avoiding costly commission fees by rejecting third-party platforms. When guests make direct reservations with hosts, however, they frequently benefit from individualized experiences and cheaper pricing. Direct reservations encourage direct connection between hosts and visitors, which facilitates better scheduling of local suggestions, special requests, and check-in timings. Furthermore, hosts build closer bonds with their visitors, which foster greater loyalty and possibly even recommendations. In general, direct reservations encourage openness, adaptability, and a satisfying experience for all stakeholders engaged in the vacation rental industry.

Regional Outlook

Several factors drive the substantial expansion of the vacation rental market in various countries and regions. The popularity of short-term rentals in North America has increased due to emergence of places such as Airbnb and Vrbo, which attract business and leisure tourists looking for distinctive lodging. The rich cultural legacy of Europe and rise in demand for genuine travel experiences drive the continent’s rapid expansion. Growth in travel and the middle class in Asia-Pacific are driving up demand, particularly in well-known travel destinations such as Thailand, Australia, and Japan. The natural beauty of Latin America and its developing tourism infrastructure are driving the region’s economic growth. These developments are accompanied by digital platforms and evolving travel habits and show a global trend toward customized, adaptable housing alternatives.

Want to Access the Statistical Data and Graphs, Key Players’ Strategies:   https://www.alliedmarketresearch.com/purchase-enquiry/A06557

Players: –

MakeMyTrip Pvt. Ltd.Airbnb Inc.Tripping.comTripAdvisor Inc.Extra HolidaysNovasol ASHomeToGo9flats.comExpedia, Inc.VrboBooking.comHotels. coHotelsCombinedHotwire, Inc.Yatra Online Private LimitedHomestay.comtraveo GMBH

The report provides a detailed analysis of these key players in the global vacation rental market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report provides valuable insights into business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Development:

In July 2022, Avantio, a provider of services and software for managing vacation rental, was acquired by Planet, a global technology and integrated financial services supplier. This acquisition has expanded Avantio’s presence in the hotel sector, allowing them to enhance their market share.In August 2022, Bornholmske Feriehuse is a vacation rental company that Oravel Stays Private Limited purchased to increase its footprint in Europe. With over 7, 000 houses on its Traum Ferienwohnungen platform and over 1, 800 vacation homes on its Belvilla platform, Oravel Stays Private Limited sought to expand its footprint in Croatia with this acquisition.

Similar Reports We Have on Consumer Goods Industry:

Adventure Tourism Market Opportunity Analysis and Industry Forecast, 2023-2032Luxury Travel Market Opportunity Analysis and Industry Forecast, 2023-2032Sexual Wellness Market Opportunity Analysis and Industry Forecast, 2023-2032Wellness Tourism Market Opportunity Analysis and Industry Forecast, 2021-2030Business Travel Lodging Market Opportunity Analysis and Industry Forecast, 2023-2032Online Travel Market Opportunity Analysis and Industry Forecast, 2022-2031Luxury Yacht Market Opportunity Analysis and Industry Forecast, 2022-2031Capsule Hotel Market Opportunity Analysis and Industry Forecast, 2024-2033Business Travel Lodging Market Opportunity Analysis and Industry Forecast, 2018-2028Cruise Tourism Market Opportunity Analysis and Industry Forecast, 2021-2031

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Delaware 19801 USA.
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Technology

EcoCharge® and Balancell Partner to Drive Energy Efficiency in Africa with Advanced and Stable Charging Technologies

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CHRISTCHURCH, New Zealand, Sept. 24, 2024 /PRNewswire/ — Two advanced energy solutions companies are announcing a multi-year partnership to support the growing demand for reliable and efficient charging solutions across the African market. The IDEAL Industries, Inc. brand EcoCharge by Enatel®, a global leader in battery charging technologies, is supplying charging technology to Balancell, a cutting-edge battery manufacturer and energy supplier.

Empowering Africa’s Energy Transition

Africa is experiencing a dynamic shift toward sustainable energy and electric mobility. Global banks and investors funded $76.04 billion in solar, hydropower, and wind projects across Africa from 2012 to 2021. The investments supported renewable energy developments like Kenya’s Lake Turkana Wind Power Project, a $1.095 billion wind farm that boosted their total electricity supply by 13%. Electrification is also rising; Africa’s electric vehicle market is expected to nearly double between 2021 and 2027.

However, more work remains. Africa attracts less than 5% of the world’s energy investments, using only 11% of its hydropower potential and 0.01% of its wind potential. Over 40% of Africans still lack access to electricity.

To advance battery charging solutions in Africa, Balancell will leverage charging technologies from EcoCharge to electrify the African material handling fleet. This initiative will help reduce CO2 emissions and enhance charging efficiency.

“We are thrilled to be part of the renewable energy transition in Africa,” said Enatel General Manager Mike Clifford. “By partnering with Balancell, we are matching a leading-edge battery design with an advanced charger. We’re confident this winning combination will help our customers achieve faster charging, less energy waste, and higher performance.”

Partnering for Growth and Sustainability

Under the agreement, EcoCharge will supply Balancell with a range of chargers that meet the challenging needs of the African market, such as unstable electrical grids and harsh environments. These advanced chargers will be integrated into Balancell’s advanced industrial batteries, providing the perfect match for optimal energy management and control.

“Partnering with EcoCharge allows us to offer our customers superior charging solutions that are both innovative and sustainable,” said Paul Osborne, Director and Chief Financial Officer of Balancell. “This collaboration enhances our ability to deliver comprehensive energy solutions that support Africa’s transition to cleaner, more sustainable energy sources.”

Driving Innovation

EcoCharge chargers are known for their durability, efficiency, and adaptability, making them suitable for deployment in diverse and sometimes challenging environments across Africa. This partnership with Balancell not only strengthens the product offerings available to the African market but also underscores the EcoCharge commitment to continued innovation and investment in sustainable energy solutions.

To learn more about the transition to sustainable energy, visit: https://www.EcoCharge.net/

About EcoCharge®
EcoCharge leads the battery charging market with a range of high-quality products, including single phase chargers, three phase chargers and BMM’s. They are designed and manufactured in New Zealand to ISO9001 standards and carry global compliance marks.

About Enatel®
Enatel is a world leader in power conversion and battery charging technology based in Christchurch, New Zealand. The company specializes in developing high-efficiency and sustainable charging solutions for a variety of applications.

To learn more about the transition to sustainable energy, visit: https://www.enatel.net/

About IDEAL INDUSTRIES, INC.
IDEAL INDUSTRIES, INC. is a global, diversified 108-year-old family-owned business that designs and manufactures superior products for the electrical, power management and industrial charging industries.

For more information, visit www.idealindustries.com.

About Balancell
Balancell is a leading provider of energy solutions, with a focus on lithium-ion battery technology and energy management systems. Headquartered in Cape Town, Balancell serves a diverse range of industries, including telecommunications, renewable energy, and electric vehicles.

View original content:https://www.prnewswire.com/apac/news-releases/ecocharge-and-balancell-partner-to-drive-energy-efficiency-in-africa-with-advanced-and-stable-charging-technologies-302254810.html

SOURCE IDEAL Industries

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Global Digital Health Leaders Converge in Seoul for HIMSS24 APAC Conference

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SEOUL, Korea, Sept. 24, 2024 /PRNewswire/ — The 2024 HIMSS Asia Pacific Health Conference & Exhibition, one of the most influential digital health conferences in the APAC region, will be hosted for the first time in Seoul, Korea. The conference will take place from 1 – 4 October at the Coex Convention & Exhibition Center.

The HIMSS24 APAC Conference will bring together healthcare experts and innovators from around the world to collaborate and exchange ideas and insights that will help shape the future of healthcare. 

The conference presents a unique opportunity for attendees to hear from world-renowned experts, network with leading healthcare executives and professionals, and learn about cutting-edge developments and technologies addressing critical issues such as artificial intelligence, cybersecurity, interoperability, and data analytics.

Produced in partnership with Messe Esang, Korea’s largest exhibition company, the HIMSS24 APAC Conference will feature visionary keynotes, interactive demonstrations, and a digital health technology exhibition that will illuminate cutting-edge health tech topics, enhance knowledge, and foster innovation.

Through a partnership with the Korean Hospital Association, attendees of the HIMSS APAC conference will have complimentary access to the K-Hospital + Healthtech Fair, the largest healthcare exhibition in South Korea.

Sessions catered to HIMSS24 APAC’s four learning tracks on artificial intelligence, smart hospitals, cybersecurity, and innovations will include fireside chats, real-world case studies, demonstrations, and more. Exclusive to HIMSS24 APAC, attendees can also experience advanced medical systems and management practices shaping the future of global healthcare with guided tours of leading hospitals in Korea

The HIMSS APAC Conference follows the memorandum of understanding signed by HIMSS, the Korea Hospital Association (KHA), and the Korea Health Information Services (KHIS) on May 17, 2024.

HIMSS (Healthcare Information and Management Systems Society) is a global advisor, thought leader, and member-based society committed to reforming the global health ecosystem through the power of information and technology. As a mission-driven nonprofit, HIMSS offers a unique depth and breadth of expertise in health innovation, public policy, workforce development, research, and digital health transformation to advise leaders, stakeholders, and influencers across the global health ecosystem on best practices.

Click here to register or learn more about HIMSS24 APAC.

Journalists interested in attending the conference can contact HIMSS to receive complimentary press credentials.

Contact:

Albe Zakes
HIMSS Communications Director
Email: albe.zakes@himss.org
Phone: +1.267.221.4800

Sukhjit Singh
Senior Director, HIMSS APAC
Email: Sukhjit.Singh@himss.org
Phone: 65.6664.1187

 

View original content:https://www.prnewswire.com/apac/news-releases/global-digital-health-leaders-converge-in-seoul-for-himss24-apac-conference-302256242.html

SOURCE HIMSS-HEALTHCARE INFORMATION AND MANAGEMENT SYSTEMS SOCIETY

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EDC expands Indo-Pacific presence with a new representation in Japan

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Tokyo hub in key “gateway to Asia” nation will better support Canadian exporters

OTTAWA, ON and TOKYO, Sept. 24, 2024 /PRNewswire/ — Today, Export Development Canada (EDC) announced the opening of its new representation in Tokyo, Japan. This marks EDC’s ninth Indo-Pacific representation, reaffirming the organization’s commitment to helping Canadian companies diversify into higher-growth markets.

As the world’s fourth-largest economy and fifth-largest export destination for Canada in 2023 (accounting for 1.9% of national exports), Japan presents a wealth of opportunities for Canadian exporters of all sizes. Boasting a trusted free market and a strong business and a regulatory environment supported by democratic institutions, the country serves as a strategic launchpad offering exporters easier entry into the region and subsequently into other Indo-Pacific markets. EDC’s Tokyo representation will serve as a vital hub, offering on-the-ground support, market insights and tailored financial services to Canadian companies.

Japan is a key trading partner for Canada, and our countries enjoy deep economic and trade relations spanning 95 years,” said Mairead Lavery, President and CEO, EDC. “With Japan’s reliance on imports, the opportunities for Canadian exporters— particularly in sectors like cleantech, agriculture, and bioscience—are too big to ignore. This representation will offer on-the-ground support necessary for Canadian businesses to capitalize on emerging opportunities and succeed in the Japanese market.” 

In 2023, Japanese foreign direct investment (FDI) stock into Canada reached $49.3 billion, solidifying its role as the leading source of FDI from the Indo-Pacific and third largest worldwide, according to Global Affairs Canada. Additionally, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in force since 2018, continues to provide Canadian investors with access to Japanese markets by having eliminated or reduced tariffs on most key Canadian exports to the country.

The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, welcomed the announcement: “Canada’s longstanding economic and trading partnership with Japan reflects the powerful collaboration between our two countries that benefits Canadian and Japanese people alike. EDC’s new Tokyo representation is a testament to the enduring economic relationship between Canada and Japan and will play a crucial role in supporting Canadian businesses in the Indo-Pacific. I look forward to seeing our trade and investment relationship advance further through these new collaborations.”

George Monize, EDC’s Managing Director and Head of the Indo-Pacific emphasized the strategic importance of Japan for Canadian companies: “Japan has many of the critical elements for Canadian exporters’ expansion in this region. But to really thrive here—strong relationships are key. And that is why we are here, getting to know the market inside and out to forge the connections Canadian companies need to grow and succeed. The Tokyo representation will work closely with our established Singapore hub—harnessing our learnings, experience and networks to ensure we have the right recipe of support in place for Canadian businesses.”

With efforts led by EDC’s Chief Representative, Jean-Bernard Ruggieri, the Tokyo office will collaborate closely with local agencies, government and partners in Japan to navigate market complexities and facilitate business opportunities for Canadian companies. Tokyo complements EDC’s existing representations in Delhi, Mumbai, Shanghai, Beijing, Sydney, Jakarta, Seoul, and Singapore.

About EDC 

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca

Media Contact: Media | Export Development Canada, 1-888-222-4065, media@edc.ca 

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