Highest penetration of internet in the region has strengthened the online reservations for cars on rent as compared to the bookings made at the car rental stations. The internet booking segment of the car rental market has represented significant growth. The online reservation concept of car renting has provided travellers with a platform to plan and book their cars in a much quicker and easier way. In addition, travellers have the advantage to evaluate alternatives before booking rental cars online. Online car renting is expected to grow further, which in turn will reduce the contribution of station renting significantly.
Carpooling and the non-airport segment of the industry will be the major growth areas for car rental companies in Italy in the coming few years. The off-airport market segment of Italy's car rental industryis estimated to yield USD ~ million in 2015 due to the development of rental services in the suburban areas of the country. Aggressive geographic expansion plans by the major companies to open offices in off-airport locations will make it suitable for travellers to rent a car near their place. This market is expected to increase over the years with the growing preferences of consumers towards car sharing and short-term car rental.
The visitors utilizing cars on a rental basis in Italy have displayed different characteristics over recent years. The car rental business in a country is greatly dependent upon the number of domestic and inbound tourists in the country. The major customers who hire cars for rental purposes from car renting companies in Italy are both domestic as well as tourists coming from different places outside Italy. Expansion in inbound travellers will stimulate the market for airport car rentals in the country.
According to the research report, “Italy Car Rental Industry Analysis to 2017: Increasing Growth in Off-airport Segment”, Italy's car rental market is estimated to grow at a CAGR of 5.67% over the period of 2012-2017, because of the significant change in the economic conditions, higher growth in carpooling, inclining growth of on-airport segment due to rising number of international travellers and off-airport rentals due to geographic expansion in the cities of Italy, which will expand the overall car rental business in the country in the future.
The report provides a detailed overview of Italy's car rental industry and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, and car rental companies to align their market-centric strategies according to ongoing and expected trends in the future.