Subscription-Based Car Rental Market Scope
Subscription-based car rental refers to a long-time rental where the user can assess one or more vehicles by paying a periodic fee. This is an alternative option of owning or leasing a car without any down payment or car loan. It covers insurance, roadside assistance, and complete maintenance on a monthly fee. Subscription-based car rental allows the user to extend or return or buy out the car when it wants. This service also offers features like Door-step delivery, Verification checks and Mileage-based billing, etc
The Subscription-Based Car Rental market study is segmented, by Application (Commercial and Residential) and major geographies with country level break-up.
The global Subscription-based car rental market is fragmented with the presence of various players. Companies offer different platforms such as online and app-based to Subscription-based car rental services. Features like door-step delivery, long or short-term rental, etc. are provided by the companies. Many players investing in the launch and enhancement of Subscription-based car rental services. The player is also participating in strategic activities like mergers and acquisitions to enhance their market presence
The Hertz Corporation (United States), Enterprise Holdings, Inc. (United States), Porsche Cars North America, Inc.( United States), FlexClub (Netherlands), Carvolution (Switzerland), Invygo (United Arab Emirates), Bipi (Spain), LMP Motors. (United States), Cluno GmbH (Germany), Canoo (United States), FreshCar (United States), Carbar Autos (Australia), SIXT(Germany), Europcar (France) and selfdrive.ae (United Arab Emirates) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Subscription-Based Car Rental market by Type, Application and Region.
On the basis of geography, the market of Subscription-Based Car Rental has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 27 July 2021, RCI Bank and Services, the Renault Group's automotive captive, acquired Bipi, a multi-brand platform that is a reference in car subscription offers for used vehicles, a growing segment. Through this acquisition, RCI Bank and Services will extend its range of flexible all-inclusive products with multi-brand subscriptions dedicated to used vehicles. Bipi will also enable the design of subscription formulae for Mobilize's activities, in order to meet the new expectations of car drivers.
On June 15, 2021, Europcar Norway announced that it will launch its ‘Sesongbil’ subscription service in Norway, and the service will be distributed through the Schibsted owned marketplace FINN. At imove we applaud Europcar for their willingness to adapt to new consumer trends. We also applaud that FINN takes a clear position in the fast-growing car subscription market. and On September 01, 2021, Selfdrive, an entity of Pinewoods Tech Serve has launched an all-in-one Smart Mobility App. The app is serving as a game-changer for the car rental space offering its users a seamless, reliable, and convenient mechanism to rent a car on demand. The cutting-edge mobile app provides direct access to dealership fleet to its users, allowing them to rent a car by the day, subscribe by the month, or lease a car up to 3 years, offering complete flexibility in booking duration.
- Advancement in technology offering an app-based platform for subscription-based car rental Market
- Growing demand for a flexible alternative to owning a car without any tie-ins or responsibilities
- Increasing popularity of cars among the individual in the developing countries booming the Subscription-based car rental Market
- Price Fluctuations in the Subscription-based car rental services Due to Economic Slowdown and Recessions Affecting the Fuel Prices
- Cutthroat Competition in the Subscription-based car rental Markets with the Presence of Numerous Players
Key Target AudienceSubscription-based car rental Service Providers, Subscription-based car rental Tools Developer, Research and Development Institutes, Subscription-based car rental Potential Investors, Industry Associations, Regulatory Bodies and Others
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Subscription-Based Car Rental Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2027.