Market Overview:

The global vacation rental software market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are increasing adoption of vacation rental software and higher adoption of automation in vendor payable systems. Additionally, increasing digitization, higher usage of online booking platforms, and rapid expansion of the tourism industry are anticipated to drive growth of the vacation rental software market throughout the forecast period.

A vacation rental is a house, apartment, or resort that is rented to visitors temporarily as an alternative to staying in a hotel. Property owners, as well as vacation rental agencies utilize vacation rental software to rent their apartments, villas, and condos to vacationing guests. This software solution not only generates price quotation automatically but also allows the manager to build personalized quotes in less time, thereby eliminating the time-consuming process of manual computation. Vacation rental software makes it possible for businesses to run and automate more reliably. It also enables property owners to develop their online marketplace. It allows property owners to develop their online room booking and reservation marketplace. Vacation rental software solution allows businesses to create adaptive/responsive websites that deliver an optimized and sophisticated viewing experience regardless of the device used to access these.

Major Factors Driving Growth Of The Global Vacation Rental Software Market:

Revenue growth of the global vacation rental software market is significantly driven by increased benefits of rental software, which is enabling organizations to improve automation in their regular processes such as customer payment, partner management, and big mail system. Renting companies are migrating to online platforms as Internet usage is increasing dramatically. Vacation rental software market is expected to be driven by increasing awareness about vacation rental homes through travel websites, as well as high demand for vacation rental software to manage customers and their details such as check-in time, check-out time, and their invoice. Vacation rental software may be simply integrated with travel websites, thereby eliminating the need to develop separate software for each website.

Increasing complexities such as payment processes and customer management, are expected to drive vacation rental software market revenue over the forecast period. The need for vacation rental software is further driven by ability of this software to provide advanced views to the renting company. Rental software solutions enable businesses to improve automation in routine activities such as partner management, vendor payment, and bulk mail system, all of which would contribute to the growth of vacation rental software market.

Factors Restraining Growth Of The Global Vacation Rental Software Market:

The global vacation rental software market growth is substantially hampered by many unfavorable factors. Variations in the price of vacation rentals and competition by hotels may restraint market revenue growth. Growing complexities in the vacation rental business such as check-in and check-out processes, payment processes, along with the need to automate booking management further impede the vacation rental software market growth. High competition from hotels is predicted to hinder travelers’ adoption of vacation rentals, which is expected to slow growth rate of the vacation rental software market.

Opportunities For Players Operating In The Global Vacation Rental Software Market:

Complexities associated with vacation rental businesses such as check-in and check-out processes, payment processes, and customer management are factors expected to continue to open up lucrative business opportunities for major players and new entrants in the market. As the adoption rate of the Internet is increasing rapidly, renting businesses are shifting to online platforms which is further expected to continue to support market growth going ahead.

Global Steel Grating Market Revenue Led By Product Type Segment:

Based on product type, the cloud-based software segment is expected to show the largest revenue share over the forecast period. This is due to various features and functions of cloud-based software that help to manage reservations. Other major factors contributing to this segment’s growth are advantages of cloud-based software such as cost savings, security, flexibility, mobility, insight, increased collaboration, quality control, and disaster recovery. Cloud-based software is hosted on the vendor's server and accessed via a web browser.

Global Vacation Rental Software Market Leading End-use Segment:

Based on end-use, the agency segment is expected to dominate all other segments in terms of revenue generation over the forecast period. Agencies provide various offers for vacation and increasing awareness about availability of agencies featuring rental software is another key factor driving growth of this segment.

North America Accounts For Largest Revenue Share in Vacation Rental Software Market:

Among regional markets, North America emerged as the dominant market for vacation rental software in 2020, with the largest revenue share. North America holds largest market share due to rising awareness about vacation rental software among people in this region. The vacation rental software market in Europe, on the other hand, is projected to showcase steady growth over the forecast period. This is due to the presence of world-famous tourist destinations in the region.

Asia Pacific Continues To Lead In Terms Of Revenue CAGR:

The Asia Pacific vacation rental software market is expected to register the fastest revenue CAGR over the forecast period. Increasing awareness and rising demand for vacation rental software are the major factors driving the Asia Pacific market growth. The region is growing at a fast pace, owing to presence of a large number of vacation rentals in various tourist destinations such as Maldives, Bangkok, and Indonesia.

Major Companies Profiled In The Report:

  • Avantio
  • BookingSync
  • Kigo, Inc.
  • Lodgify
  • OwnerRez, Inc.
  • Rental Network Software Corp.
  • Syncbnb, Inc.
  • com
  • BookingSync
  • Ciirus Inc.
  • Virtual Resort Manager
  • LiveRez
  • Convoyant
  • Rental Network Software
  • Trekadoo
  • Streamline
  • Lodgify

What Our Report Provides And Why Our Offering Is Better:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

Detailed Segmentation In Our Report:

For the purpose of this report, global vacation rental software market is segmented on the basis of product type, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

  • Cloud-based Software
  • On-premises Software
  • Others

End-use Outlook (Revenue, USD Billion; 2018-2028)

  • Homeowners
  • Agency
  • Others

Region Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

Some points on how the report benefits stakeholders:

  • The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
  • Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
  • The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
  • The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
  • Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
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