The vacation rental website market is expected to nearly double by 2032, reaching a value of US$4,640.2 million by 2032, according to Future Market Insights Inc.

NEWARK, DE /ACCESSWIRE/December 12, 2022/ According to the report published by the IMF, the world vacation rental website market is expected to reach US$1,482.6 million in 2022. In 2032, its value is expected to reach US$4,640.2 million, registering at a promising CAGR of 12.1%.

Millennials are spending more on travel, vacations, and accommodations, which is driving the growth of the travel market. An estimated 200,000 million tourists worldwide are millennials, who spend around US$180 billion each year on travel.

Vacation rental properties are more cost-effective than hotels with similar amenities, which is one of the factors driving customer interest. The 2019 TurnKey Vacation Rentals survey found that 64% of travelers preferred to stay in vacation homes over hotels.

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According to Airbnb statistics, there are currently 2.9 million hosts on its platform and more than 14,000 new hosts are joining every month. In addition to the 220 countries where Airbnb operates, there are over 100,000 cities with active Airbnb listings in 2021.

There has been a significant increase in consumer awareness of services and offers through social media and the internet. A variety of services and exotic locations are offered by key players to gain market share, as well as services specifically tailored to female travellers.

A platform called Golightly started operating in January 2020. There is also an option for male customers to rent from this platform, which is run by women and exclusively available to women. More than 350 properties are owned by the company worldwide.

Key Takeaways from the Vacation Rental Website Market

• Global Autonomous Drone Platforms Market Expected to Hit US Dollar 4640.2 Mn by 2032.
• The market recorded a CAGR of 12.1% between 2022 and 2032.
• Market growth is attributed to instant booking combined with a simple online payment structure.
• Market growth is hampered by low conversion of leads into bookings due to the risk of fraudulent vacation rentals.
• On a country basis, the United States is one of the most influential markets for vacation rental websites and is a major contributor to the growth of the North American market share.

Vacation Rental Website Market Competition Landscape

Several vendors are vying for market share by deploying organic and inorganic growth strategies for vacation rental websites, which are highly fragmented. There has been an increase in the level of competition in the market. For this reason, sellers adopt various growth strategies such as promotional activities and advertisements to increase the visibility of their products.

It has also been observed that some vendors adopt inorganic growth strategies such as mergers and acquisitions to stay competitive in the market. It is estimated that more than 60% of new businesses aim to improve their profitability by improving onboarding, attracting new customers and making data-driven decisions.

BookingSync, CiiRUS, Kigo Inc., Virtual Resort Manager, LiveRez, OwnerRez, 365Villas and Convoyant9flats Pvt Limited are some of the key players in the vacation rental website market.

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Recent Developments in the Vacation Rental Website Market

• In December 2021, Booking Holdings Inc. acquired Getaroom from Court Square Capital Partners for $1.2 billion. The company intends to increase the value of its pipeline following this acquisition.
• In October 2020, TripAdvisor announced the launch of two game-changing hotel technology solutions, Spotlight and Reputation Pro.

Vacation rental website by category

By Property Type, the vacation rental website market is segmented as follows:

• House/Apartment
• Hotel/Inn
• Other

By End User, the vacation rental website market is segmented as follows:

• Holiday rental agency
• Vacation Rental Owners
• Property managers

By region, the vacation rental website is segmented as follows:

• North America
• Latin America
• Europe
• The Middle East and Africa
• East Asia

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Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Analysis of the technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Market context

3.1. Market dynamics

3.1.1. Drivers

3.1.2. Constraints

3.1.3. Opportunity

3.1.4. Tendencies

3.2. Scenario forecast

3.2.1. Demand in the optimistic scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in the conservative scenario

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

3.5. PESTLE and Porter’s analysis

3.6. Regulatory landscape

3.6.1. By key regions

3.6.2. By key countries

3.7. Regional Parent Market Outlook

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR certified business consulting and market research firm, member of the Greater New York Chamber of Commerce and headquartered in Delaware, USA. Recipient of the 2022 Clutch Leaders Award for high customer score (4.9/5), we have partnered with global companies on their business transformation journey and helped them realize their business ambitions. 80% of the Forbes 1000 largest companies are our clients. We serve global clients across all leading and niche market segments in all major industries.

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