Short Term Vacation Rental Market set to hit $624.2 billion by 2035, as shift towards digital platforms propels transformation
Industry revenue for Short Term Vacation Rental is estimated to rise to $624.2 billion by 2035 from $171.2 billion of 2024. The revenue growth of market players is expected to average at 12.5% annually for period 2024 to 2035. Short term vacation rental is critical across several key applications, including Short-Term Stay, Corporate Rentals, Event Hosting and Luxury Rentals. The report unwind growth & revenue expansion opportunities at Property Type, Rental Duration, Traveler Demographics and Purpose of Travel with industry revenue Forecast.
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Industry Leadership and Competitive Landscape
The Short term vacation rental market is characterized by intense competition, with a number of leading players such as Airbnb Inc, Booking Holdings Inc, Expedia Group Inc, TripAdvisor Inc and Trivago N.V. These players are pushing the boundaries of innovation & technological advancements and forging strategic partnerships to expand the existing reach of the market, thereby shaping its growth trajectory and future prospects by enlarging the total addressable market.
The Short term vacation rental market is projected to expand substantially, driven by the Growth in Online Travel Services and Technological Advancements in Property Management. This growth is expected to be further supported by Industry trends like The Rise of Solo and Family Travel; and position the market's continued expansion to reach $346.7 billion by 2030. Moreover, the key opportunities, such as Expanding Luxurious Amenities, Capitalizing On Remote Work Trend and green vacations, are anticipated to create opportunistic revenue pockets in major demand hubs including U.S., France and Spain.
Major Markets and Emerging Opportunities
The U.S., France, Spain, Italy and UK are leading the market, driving a significant share of global demand. Businesses in these countries can expect steady revenue growth of 11.2% to 15% annually from 2024 to 2035. At the same time, Croatia, Mexico and Malaysia are emerging as exciting new opportunities, with fast-growing markets and evolving industry landscapes creating fresh avenues for expansion.
Regional Shifts and Evolving Supply Chains
North America and Europe are the two most active and leading regions in the market. With challenges like Regulatory Challenges and market saturation, market Supply Chains from Property Acquisition & Management / Property Setup & Furnishing / Marketing & Advertising and to Guest Service & Experience is expected to evolve & expand further; and industry player’s will be pushed to make strategic shifts towards emerging markets including Croatia, Mexico and Malaysia for expansion of the total addressable market (TAM).
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