The dynamic and complex business of car rental started with simplified renting car on per day basis at fixed base charges plus over and above per mile charge. Soon hertz stepped into the market to change the face and fate of car rental industry. Now car rental is a fully fledged package consisting of combination of pickup and drop location, car type, rental period and even refueling option. Car rental industry is segmented on the basis of location, types of vehicle, market size, regions and many more. Car rental Market Research Reports that Emerging trends, technical advancements and industrialization has helped to expand the dynamism of car rental industry therefore influencing them to lower their carbon print, to go eco- friendly, introducing digitization, green and autonomous vehicle splendid techniques to protect from theft and most importantly has introduced with self driving ideology instead of hiring the driver which ultimately made end consumer more satisfied.
NEW TECHNOLOGIES THAT CAME INTO MARKET ARE:
- Green technologies: Universal concern over pollution and global warming became the driving force for introducing hybrid rental cars that were highly fuel efficient and cost effective. Being easy on wallet and reducing global emission Hertz Toyota prius hybrid rental car became the prominent leader in hybrid category.
- Electric Vehicle: Fully electric vehicle is relatively more reliable and greener alternative to ordinary cars working on combustion engine. Therefore millions of dollars is spent by Orlando, Florida which is the most popular tourist destination and UK government to improve electric vehicles infrastructure
- Black Box: They capture rudimentary information prior to accident. They record vehicle speeds and successfully helps automakers and government to design safer vehicles.
- Biometrics: biometric is used across rental car collection points to protect the cars against theft. This technique is most used in Europe due to its high theft rate which collects the traceable records to track down criminals.
- Electronic fuel Metering: this technology is primarily used by market leaders such as hertz to measure the amount of fuel customer has while leaving and when they return. If there would be any discrepancy it would easily be detected.
- Smart phone technology: Automated rental technology that is use of mobile apps to hire rental cars are available 24/7 for the service of customer just a click away. Moreover inbuilt GPS system track rental car nearest to their current location. This function is available to more than 2000 location worldwide. Thus leaving no stone unturned to add value to customers.
Car rental Industry Analysis reports with increase in consumption and technology of car rental, the industry is anticipated to continue to grow through 2021. Car rental industries contribute significantly to reduce pollution level in the environment. Rise in the disposable income of developed countries such as North America, Europe, Asia- Pacific made them the major leader is continuously striving to equip themselves with all new technologies to acquire each and every customer in the market. The onset of technical gadgets is predicted to increase competition among the market players such as Hertz Corporation, Uber Technologies Inc, Alamo and many more. At the end of the day consumers are satisfied with the change in technologies in car rental industries marking the success of car rental industry.
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Ankur Gupta, Head Marketing & Communications