NEW YORK , July 24, 2024 /PRNewswire/ -- The global car rental (self drive) market size is estimated to grow by USD 3.42 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 45.
08% during the forecast period. Growing interest in self-driving vehicles is driving market growth, with a trend towards use of telematics in self-drive car rentals. However, high cost of self-driving car rental poses a challenge.
Key market players include Aspark Holidays Pvt. Ltd., Aurora Innovation Inc.
, Autorent Car Rental LLC, Avis Budget Group Inc., DriiveMe Ltd., Enterprise Holdings Inc.
, Hertz Global Holdings Inc., Localiza Rent a Car SA, Primemover Mobility Technologies Pvt. Ltd.
, SIXT SE , Volkswagen AG, and Zoomcar India Pvt. Ltd..
Get a detailed analysis on regions, market segments, customer landscape, and companies - Click for the snapshot of this report Key Market Trends Fueling Growth Telematics technology has revolutionized self-drive car rentals by providing real-time data on vehicle location, speed, condition, and usage. This data enables rental companies to monitor mileage, fuel consumption, and identify potential issues before they become major problems. Additionally, telematics simplifies the rental process with automated check-in and check-out, streamlined payment, and accurate billing.
It reduces the likelihood of disputes over extra days or miles and enhances vehicle security through GPS tracking and remote disabling. The technology also p.