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Increase in travel and tourism events across the globe driving the industry. Moreover, the improved road infrastructure, together with increased disposable incomes in the emerging economies have led to significant growth in the frequency of ease and business trips, which is further driving the overall market. The car rental service providers are the agencies that rent the automobiles for a short period of time with a certain cost associated to that service. Some of the key players operating in the car rental market are Avis Budget Group Inc., Eco Rent a Car, Advantage Rent-a-car, Enterprise Holdings Inc. Global CARS, U-save-Auto-Rental System, Ace Rent-a-car, Eco Rent a Car, Europcar and Budget Rent A Car System, Inc.
The car the rental services often organized with many local branches, which are generally located near airports or at busy areas the services are complemented by a website which allows the using of online reservations. Increase in population and interest towards exploring on new places have led to drastic shift of transformation over the past few years, and now have become one of the prominent industries in the transportation fleet. Increase in adoption of information technology is transforming the industry and enabling operators to deliver improved services to their customers. The utilization of optimized corporate functionality, customer information data and easy to use internet booking applications. Increasing use of smartphones is one of the most significant factors pushing the market, various companies are offering mobile apps for easy booking of the rental cars or to confirm the availability of cars online. The car rental companies are also concentrating for merging with local population by providing as option of car sharing basis. Nowadays people who own a car but has very less usage often merged with the rental companies to give their own car for a renting service and thereby earning a profit out of this.
Rising dependence of users on smartphones for carrying out a variety of other activities have significantly helped transforming interest towards the rental experience for the customers. Thus can be further analyzed from subscription services for car rental reports which help clients to understand the new opportunities available in the market.
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Ankur Gupta, Head Marketing & Communications