Based on the recent report it is estimated that Indian car rental will grow at a projected CAGR of 9.38% making it a valuation of $2.03 billion by 2026. Indian car rental services have shown promising growth since the pandemic. The rental industry is very exciting and holds significant growth. A great thanks to the technology that made it easier to book a car with a certain click on the phone. India, a leading urbanisation country increasing the presence of digital connectivity which drives unique opportunities and challenges for the car rental industry. The trends and innovations in the car rental industry are in favour of growing success in the country.
To meet the rising demand and adoption of sustainable modes of transportation in the urban population has spiked the trend of car rental services. The main reasons behind the increased acceptance of car rental services are its subscription service over ownership, shifting towards sustainable and environment-friendly modes of transportation, and integration of AI, ML, and IoT to deliver complete reliability and safety to customers.
Exploring the article will let you know the several factors that are responsible for the sustainable growth of car rental services in India.
