LONDON--(BUSINESS WIRE)--Nov 6, 2019--

The global vacation rental market is expected to post a CAGR of nearly 7% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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Players in the market are making significant investments in advanced technologies to secure and streamline their business operations. Property owners are increasingly adopting Bluetooth smart locks, smart fire alarms, burglar alarms, Wi-Fi locks, and electronic locks. The installation of these devices is encouraging customers to increase their spend on automated vacation rental spaces. Moreover, market players are also investing in business intelligence software and data mining tools to improve their business processes.

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As per Technavio, the adoption of effective promotional strategies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.

Global Vacation Rental Market: Adoption of Effective Promotional Strategies

The increasing penetration of the internet and the growing popularity of social media is encouraging vendors to invest in social media campaigns and promotional strategies. Social media campaigns are helping vendors track customer feedback and reviews, create new offerings, understand the latest trends and interests, analyze customer experience, and track brand ratings and service reviews. Increasing investments in social media tools such as YouTube, Instagram, Pinterest, and others are enabling vendors to expand their customer base and drive revenue.

“Apart from the adoption of effective promotional strategies, instant bookings and the rapid growth of online booking are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Vacation Rental Market: Segmentation Analysis

This market report segments the global vacation rental market by geography (APAC, Europe, MEA, North America, and South America) and management (managed by owners and professionally managed).

The European region led the market in 2019, followed by North America, APAC, MEA, and South America, respectively. During the forecast period, the European region is expected to maintain its dominance over the global market. This is due to the presence of several established players and increasing funding from high profile investors in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:https://www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: LODGING TRAVEL

SOURCE: Technavio Research

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PUB: 11/06/2019 03:30 PM/DISC: 11/06/2019 03:31 PM

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