Online Home Rental Market- Industry Analysis and Forecast (2022-2029)

Online Home Rental Market size was valued at US$ 15.9 Bn. in 2021 and the total revenue is expected to grow at 13.8 % through 2021 to 2029, reaching nearly US$ 44.72 Bn.
Online Home Rental Market Overview:
The Online Home Rental market is expected to grow significantly with a CAGR 13.8 % during the forecast period. The online home rental market is segmented on the basis of type into flats, detached houses and semi-attached. On the basis of end-user, the online home rental market is segmented into resident and tourist. Furthermore, on the basis of price range, the market is segmented into economy, midrange and premium. On the basis of rental duration, the online home rental market is segmented into daily, weekly, monthly and yearly. Geographically the online home rental market is segmented into North America, Europe, Asia-Pacific, Middle-East and Africa and South America.To know about the Research Methodology :- Request Free Sample Report

Online Home Rental Market report examines the market's growth drivers as well as its segments. Report includes market participants, and regional insights. This market study takes an in-depth look at all of the significant advancements that are currently occurring across all industry sectors. To provide key data analysis for the historical period (2017-2021), statistics, infographics, & presentations are used. The report examines the Online Home Rental markets, Drivers, Restraints, Opportunities, & Challenges. This MMR report includes investor recommendations based on a detailed analysis of the current competitive landscape of the Online Home Rental market.
Online Home Rental Market Dynamics:
The online home rental market is projected to experience significant growth rate during the forecast period. The enormous rise of the online home rental services sector is due to an increase in demand for rented properties in metropolitan cities where cost of living has gone above average income. As sources of economic growth are predominantly concentrated in cities, migration has resulted in a spike in the population of metropolitan cities around the globe. The demand for rented apartments is increasing as the number of migrants to metropolitan areas grows. In the last decade, the migrant population in several major cities throughout the world increased by 6% to 8%. The growing demand for rental apartments as a result of the increase in the number of individuals relocating to different places has boosted the expansion of the online home rental market. Furthermore, rising government attempts to increase residential development activities and improve real-estate investment transparency are likely to contribute significantly to the online home rental market growth. Furthermore, the rise of e-commerce in developing economies is likely to boost the market for online home rental services over the forecast period. During the projection period, however, differences in government laws for renting homes in different countries are projected to impede market growth. Furthermore, the online house rental services market is expected to be hampered in the near future due to a shortage of inexpensive rental options. Nonetheless, the advent of new technologies is projected to provide attractive prospects for industry providers.

In terms of market drivers, increase in property prices across the globe in metropolitan cities is the fundamental reason for market growth. The property rates have kept increasing but the average salaries and wages have not grown in the same proportion. This has led to disparity between what people can afford and what people need. After the Covid aftermath working has also been exposed to the frugality of job market and in order to offset the risk people have started renting out residences rather than buying them via loans or other debt instruments.

In terms of market restraints, the online home rental market is projected to be held back by the lack of liquidity in the market as property investors willing to take that magnitude of risk are low in number. Additionally, the tax rate changes and loosely bound governmental policies are few of other major reasons that are projected to hold the online home rental market down during the forecast period.
Online Home Rental Market Segment Analysis:
On the basis of type, flats are projected to dominate the online home rental market as the primary unit requirement from most of the consumers are flats in highly prices metropolitan cities where affording a house has become difficult. On the other hand, detached houses and semi attached houses are projected to witness stagnant growth.

On the basis of end-user, resident segment is projected to dominate the online home rental market as the primary objective of most of the consumers for renting homes profitably is for long durations or at least one year. However, the tourist segment is also projected to witness significant growth due to re-opening of tourist locations after multiple lockdowns. Additionally, increase in disposable incomes of residents of developing economies is also driving the tourist market across the globe upwards.

On the basis of price range, the economy segment is projected to dominate the online home rental services market due to the increase in cost of living in metro cities that is in fact driving the home rental market in general upwards. Since employment is not guaranteed for longer durations in current scenario, consumers are not willing to take risk with renting premium homes.On the basis of rental duration, monthly segment is projected to dominate the online home rental market as it replaces the traditional renting system keeping the duration same but mode of delivery and payment is based online. Moreover, daily renting segment is also projected to experience significant growth rate during the forecast period due to demand from tourist destinations.
Online Home Rental Market Regional Insights:
The Asia-Pacific region is projected to experience high growth rate during the forecast period due to increasing cost of living the metro cities have become extremely costly in the constituent countries. High cost of living coupled with uncertainty at job market is driving the online home rental market in the Asia-Pacific region. North America and European regions are also estimated to experience high growth rates due to increasing immigration and presence of high millennial population that generally choose to rent necessities as opposed to owning them by procuring debt. Middle East and Africa region is also projected to witness significant growth rate during the forecast period as the market is driven by vacation homes and tourists. Gulf countries have initiated the transition from oil economies to tourism focused countries and hence are estimated to witness growth in their online home rental market.

The objective of the report is to present a comprehensive analysis of the Online Home Rental Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Online Home Rental Market dynamics, structure by analyzing the market segments and project the Online Home Rental Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Online Home Rental Market make the report investor’s guide.
Online Home Rental Market Scope:



Global Market


Base Year
2021
Forecast Period
2022-2029


Historical Data
CAGR
Market Size in 2021
Market Size in 2029


2017 to 2021
13.8%
US$ 15.9 Bn
US$ 44.72 Bn


Segments Covered


by Product
•Flats
• Detached Houses
• Semi-Attached
by Price Range 
• Economy
• Midrange
• Premium
by Rental Duration
• Daily
• Weekly
• Monthly
• Yearly
by End-Use
• Resident
• Tourist


Regions Covered


North America
• United States
• Canada
• Mexico
Europe
• UK
• France
• Germany
• Italy
• Spain
• Sweden
• Austria
• Rest of Europe
Asia Pacific
• China
• S Korea
• Japan
• India
• Australia
• Indonesia
• Malaysia
• Vietnam
• Taiwan
• Bangladesh
• Pakistan
• Rest of APAC
Middle East and Africa
• South Africa
• GCC
• Egypt
• Nigeria
• Rest of ME&A
South America
• Brazil
• Argentina
• Rest of South America



Online Home Rental Market Key Players are:
• 9flats.com Pte (Singapore)
• Airbnb Inc (US)
• Booking Holdings Inc (US)
• CoStar Group Inc (US)
• Expedia Group Inc (US)
• Lodgis SAS (France)
• Oravel Stays (India)
• Upad Ltd (UK)
• Wyndham Destinations (US)
• Zillow Group (US)
• Redfin (US)
• Trulia (US)
• Housewise (India)
• Nestway (India)
• Squareyards (India)

Frequently Asked Questions:

1. What is the forecast period considered for the Online Home Rental market report?
Ans. The forecast period for the Online Home Rental Market is 2021-2029.

2. Which key factors are hindering the growth of the Online Home Rental market?
Ans. The key factors hindering the growth of Online Home Rental market are lack of liquidity, involvement of paperwork and requirement of legal obligations that are region specific.

3. What is the compound annual growth rate (CAGR) of the Online Home Rental market for the forecast period?
Ans. The compound annual growth rate (CAGR) of the Online Home Rental Market for the forecast period is 13.8%

4. What are the key factors driving the growth of the Online Home Rental market?
Ans. The key factors driving the growth of Online Home Rental market are development in social and economic sector due to which large number of people are relocation for employment opportunities along with technological development in online market place portals.

5. Which are the worldwide major key players covered for the Online Home Rental market report?
Ans. Some of the worldwide key players in the Online Home Rental Market are 9flats.com Pte (Singapore), Airbnb Inc (US), Booking Holdings Inc (US), CoStar Group Inc (US), Expedia Group Inc (US), Lodgis SAS (France) and Oravel Stays (India)