The driving vacation global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Driving Vacation Market, 2024The driving vacation global market report 2024
Market Size – The driving vacation market size has grown rapidly in recent years. It will grow from $138.26 billion in 2023 to $159.93 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to increasing car ownership, expansion of road networks, rise in disposable incomes, growth of leisure travel, the popularity of road trip culture, and rising economic stability.
The driving vacation market size is expected to see rapid growth in the next few years. It will grow to $287.78 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to advances in electric vehicle technology, the expansion of autonomous driving capabilities, rising environmental consciousness, growth in remote work opportunities, and increasing focus on personalized travel experiences. Major trends in the forecast period include rising trends for sustainable travel, adoption of road trip apps, growing interest in unique and personalized experiences, demand for flexible and spontaneous trip planning, and adoption of wellness activities.
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Scope Of Driving Vacation MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Driving Vacation Market Overview
Market Drivers -The increasing number of travelers is expected to drive the driving vacation market. Travelers benefit from improved access to travel services, growing disposable incomes, and the convenience of online booking, making driving vacations an appealing option. These vacations allow flexibility, scenic exploration, and immersion in local cultures, often at lower costs compared to other travel options. According to the International Trade Administration, international visitors to the United States are projected to rise to 77.7 million in 2024, a 15.4% increase from 67.3 million in 2023, further boosting the driving vacation market.
Market Trends – Major companies operating in the driving vacation market are offering group trip vehicle rental services to enhance user travel convenience. Group trip vehicle rental services provide spacious and comfortable transport options, such as minibusses and tempo travelers, tailored to accommodate large groups for various events and outings. For instance, in June 2024, Savaari Car Rentals, an India-based car rental company, launched Tempo Traveller and Minibus Rental Services. It is ideal for group travel with more than eight people. These vehicles offer spacious seating, ample legroom, sufficient aisle space, and generous boot capacity, enhancing the travel experience. It includes options such as a 12-seater or 16-seater equipped with luxurious amenities. These services cater to various travel needs, such as family trips, road trips, picnics, spiritual pilgrimages, and corporate events.
The driving vacation market covered in this report is segmented –
1) By Tour Type: Customized Road Tour, Fixed Departure Tour
2) By Traveler Type: Solo, Group, Other Traveler Types
3) By Mode Of Booking: Online Travel Agency, Direct Travel Agents
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Regional Insights – North America was the largest region in the driving vacation market in 2023. The regions covered in the driving vacation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are American Express, Enterprise Holdings Inc., Avis Rent A Car System LLC, Hertz Global Holdings Inc., Sixt SE, Alamo Group, Tripadvisor LLC, Audley Travel, Kayak Inc., Road Bear RV, SOTC Travel Limited, TourRadar, Roadtrippers LLC, WEXAS TRAVEL, Jucy Group Ltd, Scott Dunn Ltd., Adventures Overland, Auto Europe, Travelscape LLC, Wild Frontiers Adventure Travel, Triumph Expeditions Pvt Limited
Table of Contents
1. Executive Summary
2. Driving Vacation Market Report Structure
3. Driving Vacation Market Trends And Strategies4. Driving Vacation Market – Macro Economic Scenario
5. Driving Vacation Market Size And Growth
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27. Driving Vacation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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