Market Trends of Italy Car Rental Industry
This section covers the major market trends shaping the Italy Car Rental Market according to our research experts:
Online Booking Segment Likely to Drive Demand in the Market
Online booking is dominating the Italy car rental market in terms of revenue in 2021 and is registering a notable growth in terms of revenue during the forecast period. The rise in the use of internet and mobile phone applications across the country is likely to enhance the use of online booking platforms. The rising dependence of users on smartphones for carrying out a variety of activities traditionally done by personal computers has significantly helped transform the car rental experience for customers.
Currently, online booking serves a variety of purposes, such as verification of documents of the renter, offering information to the renter regarding the car, and services like drop and pick-up of the rented car at a certain place, e-signing contracts, and cashless transactions.
Introduction to innovative business models such as car sharing benefiting new players in revenue growth. New startup players across the companies are using mobile technologies and devices to better meet consumers' personal transportation needs. These initiatives are contributing to the disruption of the car rental industry.
Growing Electric Vehicles Adoption to Offer Lucrative Opportunities to Players in the Market
Growing electric car sharing across the country is likely to witness major growth for the market. The rising strategic partnership between the existing players for electric car sharing has significantly boosted the market. For instance,
- In July 2021, Enel X and Volkswagen Group jointly developed electric mobility in Italy. The two companies will establish a full-function joint venture of equal partners aimed at deploying, owning, and operating more than 3,000 high-power charging points in Italy of up to 350 kW each.
- In June 2021, LeasysGO! launched car sharing company across Italy. The company has ordered a fleet of electric Fiat 500 vehicles for rental service.
The rise in popularity of electric car rental services among travelers across the country is witnessing major growth in the market.
- In 2020, WeShare is partnering with Volkswagen to provide e-Golf1 and other vehicles. The company has plannd to provide a fleet of 8,400 electric vehicles across the country.
