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.