Global Complete Vacation Rental Software Market 2023-2030

Global Complete Vacation Rental Software Market 2023-2030

Global complete vacation rental software market is anticipated to grow at a considerable CAGR of 11.0% during the forecast period. The hospitality industry is undergoing a digital transformation, and the adoption of vacation rental software is increasing due to its ability to streamline operations and improve the overall guest experience. Another factor that is driving the market’s growth is the increasing number of tourists across the globe. For instance, according to the World Travel & Tourism Council, the travel and tourism sector generated 10.3% of global GDP in 2019, or about $9.6 trillion.

Segmental Outlook 

The global complete vacation rental software market is segmented by deployment type and end-user. Based on deployment type, the market is sub-segmented into cloud-based and on-premises-based. Based on end-user, the market is sub-segmented into vacation rental agencies, property managers, innkeepers, and bed & breakfast. Among deployment types, cloud-based vacation rental software is more popular due to its accessibility, scalability, cost-effectiveness, and security advantages over traditional software.

The Vacation Rental Agencies Segment Holds a Prominent Share in the Global Complete Vacation Rental Software Market

Based on end-user, the market is sub-segmented into vacation rental agencies, property managers, innkeepers, and bed & breakfast. Among these, vacation rental agencies are the biggest users of vacation rental software because they typically manage a large number of rental properties and have a high volume of bookings to process. Vacation rental software help agencies streamline their operations by automating tasks such as property management, online booking, payment processing, and guest communication. Additionally, vacation rental software provide agencies with valuable data insights and reporting to help them make informed business decisions. As a result, vacation rental agencies save time, reduce errors, and improve their overall efficiency and profitability by using vacation rental software.

Regional Outlook

The global complete vacation rental software market is segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the rest of the world (the Middle East and Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among the regions, the European region is expected to generate the highest market share. Additionally, the Asia-Pacific market is predicted to grow significantly owing to the growth of tourism in the region. According to the United Nations World Tourism Organization’s 2019 World Tourism Barometer, Asia-Pacific had 343.0 million visitors in 2018, compared to 205.5 million in 2010.

S The European Region is Expected to Dominate the Global Complete Vacation Rental Software Market

The key driver of the region’s market growth is that it is the biggest travel and tourism destination for global travelers. According to the World Travel & Tourism Council’s 2022 report, travel and tourism contributed $1,450 billion to European GDP. Additionally, there is an increase in the number of people who are choosing vacation rentals over hotels to stay for longer periods of time. Hence, the rental market is growing. Software provider companies in Europe are also assisting the market’s growth, such as BookingSync, Avantio, Kigo, and Rentals United. These companies offer a range of solutions, from property management software to channel management and marketing tools, to help property managers and owners succeed in the vacation rental market. New companies are also expanding their services across Europe. For instance, in October 2022, Holidu, a vacation rental software business located in Munich, secured roughly $102 million in a Series E oversubscribed round headed by prior investor 83North. This includes $24.4 million in venture debt. The funds will be used to accelerate the expansion of Holidu and Bookiply, a Holidu subsidiary, across Germany and Europe.

Market Players Outlook

The major companies serving the global complete vacation rental software market include Aiosell Technologies Pvt. Ltd., eZee Absolute, Cabin Key, Avantio, PriceLabs, and others. These companies are considerably contributing to the market’s growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, investments, and new feature launches to stay competitive in the market. For instance, in October 2022, Revolut, the global financial super app with over 20 million subscribers globally, announced 'Homes,' a new vacation home rental function with cashback, increasing its growing range of travel offerings. Homes is a part of Stays, Revolut's lodging booking service.

The Report Covers-

Market value data analysis for 2023 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global complete vacation rental software market. Based on the availability of data, information related to new product launches and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market entry and market expansion strategies.

Competitive strategies by identifying ‘who stands where’ in the market.