Car rental services is actually a group of businesses that rent a car at a certain time for a certain amount of money. Currently, this issue is very common due to high travel demand and road improvements. In fact, due to the increase in surplus revenues, some emerging economies, with the advancement of technology, car rental market has grown significantly; moreover, technology, especially the penetration of the Internet, has contributed to accessibility and improvement of services.
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Market / Industry segment of car rental services
Influencing factors that changes market size of car rental services
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of car rental services
- Increase of surplus income
- Internet penetration
- Increasing domestic and foreign tourists
- High cost of car depreciation
- outbreak of infectious diseases
- Lack of trust in car rental platforms
This market may also be threatened by following risks:
In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of car rental services may also be threatened by the following risks:
- Funding risk
- Litigation risk
- Reputation risk
- Competition risk