Egypt automobile rental market
is expected to register robust growth in the forecast period, 2023-2027. The
growing economic development and increased usage of luxury cars in business
trips by corporates across Egypt. The expanding tourism sector is also
supporting the market growth. People are spending extra to spend quality time
with their families. The ongoing digital revolution has hugely impacted the car
rental industry, the digital platform has enabled consumers to share more
information, opening new channels through which car rental companies can
approach them. Retail companies are utilizing novel technologies to
differentiate their brand and offer consumers exceptional services.
Growing Adoption of Car
Rental Management Software Augments the Market Growth
The automobile rental
market is expanding across Egypt as several leading players have already
entered the market and acquired remarkable position in the market. All the key
market players operating in the market are undertaking numerous initiatives to
provide better offers and services to get more bookings, by enhancing their
operations and adopting new automated technologies. This, in turn, is
propelling the market growth. In
addition to this, to offer better services and automate their business, car
rental players are utilizing car rental management software which supports the
market growth. The car rental management software minimizes the task of
management and boosts the efficiency of operation. Furthermore, the management
software offers numerous features such as fleet optimizations, advanced pricing
management, and custom reports, which, in turn, help car rental companies to
grow their business. Therefore, the adoption of car rental management software
holds a lucrative opportunity for the car rental market players for market
expansion.
Emerging in Trend of
On-Demand Transportation Services Stimulates the Market Growth
On demand services such
as taxis, passenger vehicles, and charter vehicles with flexibility and other
features including real time feedback, tracking of vehicles, and rating to end
customers. The availability of cars and comparison of fare with the
correspondent car rental companies is facilitated by numerous mobile
applications. On-demand ride services launched a mobile application that
enables users to compare locations and prices of nearby taxi, car-sharing, and
ride-hailing companies all in one app. Automobile rental service allow
customers to make use of various functions. Increase in trend of on-demand
transportation services is anticipated to drive the growth of automobile rental
market in the coming years.