Market Overview:
The global vehicle subscription service market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for convenience and flexibility among consumers, coupled with the growing trend of subscription-based services. In terms of type, the global vehicle subscription service market can be segmented into single brand and multiple brands. Single brand refers to a situation where a consumer subscribes to only one car brand, while multiple brands refers to situations where a consumer subscribes to more than one car brand. In terms of application, the global vehicle subscription service market can be segmented into commercial use, personal use and others (including government/military applications). Commercial use includes usage by businesses for purposes such as transportation or delivery services. Personal use includes usage by individuals for purposes such as travel or leisure activities.
Product Definition:
A vehicle subscription service is a newer way of leasing or owning a car. It works by the customer paying a monthly fee to have access to a vehicle, which they can use for as long as they want. At the end of each month, they can either return the car or choose another one to drive. This type of service is important because it offers more flexibility and convenience than traditional car ownership or leasing options.
Single Brand:
Single Brand is a subscription based service that allows the user to subscribe to one service provider and get all the services related to that particular brand. For instance, if a consumer wants only Netflix in his/her life, then he can subscribe for just Netflix and not any other streaming channels. The single-brand or single-service subscription market has been gaining traction over the past few years owing to its various benefits such as cost efficiency, convenience of use and time saving among others.
Multiple Brands:
Multiple brands are a subscription model in which the customer can subscribe for various services and products from different service providers. The multiple brands or product subscription model is used by companies to increase their revenue. For instance, if a consumer wants to use two or three shampoo’s per month instead of buying large bottles of shampoo at retail price then he/she can subscribe for these services from various providers and get benefits as mentioned above.
Application Insights:
The commercial use segment dominated the global vehicle subscription service market in 2017. The growth of this segment can be attributed to the increasing number of companies offering car rental services to their employees or contractors. For instance, Enterprise Car Rental offers a fleet of more than 300 vehicles to its customers across the U.S., while Blue Chip Automotive provides van and truck rentals for local and long-distance transportation in Mexico, Colombia and Peru among others countries in Latin America.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a significant rise in demand for vehicle subscription services owing to increasing disposable income, urbanization, and changing lifestyles of consumers. Moreover, rising number of fleet operators in countries such as India and China are anticipated to further boost regional growth.
North America is projected to be one of the fastest-growing regions over the forecast period owing to increasing adoption by enterprises for providing door-to-door service as well as short term rental services such as airport limousine or car sharing programs. Furthermore, growing trend towards ‘Green Fleet’ wherein companies are adopting hybrid or electric vehicles for transportation purposes is expected drive regional growth over next eight years. ‰volution Car Share Inc.
Growth Factors:
- Increasing demand for convenience and flexibility in transportation: The vehicle subscription service market is growing rapidly as it offers a convenient and flexible mode of transportation. This is especially beneficial for urban areas where traffic congestion is high and public transportation options are limited.
- Rising number of millennials who are opting for subscription services: A major growth driver for the vehicle subscription service market is the increasing number of millennials who are opting for such services. This segment values convenience and flexibility, which subscription services offer in abundance.
- Growing awareness about the benefits of vehicle subscriptions: There has been a rise in awareness about the benefits of subscribing to a car rather than owning one outright, which is helping to fuel the growth of this market. Some key benefits include lower costs, reduced maintenance expenses, and greater convenience when traveling or moving around town.
Scope Of The Report
Report Attributes
Report Details
Report Title
Vehicle Subscription Service Market Research Report
By Type
Single Brand, Multiple Brands
By Application
Commercial Use, Personal Use, Others
By Companies
BMW, Porsche, Volvo, JLR, Volkswagen, Cluno, Revolve, Carvolution AG, Driveto, like2drive (Fleetpool), Lexus, SIXT, Hyundai, Audi
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
229
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Vehicle Subscription Service Market Report Segments:
The global Vehicle Subscription Service market is segmented on the basis of:
Types
Single Brand, Multiple Brands
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Use, Personal Use, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BMW
- Porsche
- Volvo
- JLR
- Volkswagen
- Cluno
- Revolve
- Carvolution AG
- Driveto
- like2drive (Fleetpool)
- Lexus
- SIXT
- Hyundai
- Audi
Highlights of The Vehicle Subscription Service Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Brand
- Multiple Brands
- By Application:
- Commercial Use
- Personal Use
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vehicle Subscription Service Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vehicle subscription service is a type of car rental where customers can rent a vehicle for an extended period of time, such as a month or year. Vehicle subscription services allow customers to reserve and pay for vehicles in advance, often with no down payment required.
Some of the major companies in the vehicle subscription service market are BMW, Porsche, Volvo, JLR, Volkswagen, Cluno, Revolve, Carvolution AG, Driveto, like2drive (Fleetpool), Lexus, SIXT, Hyundai, Audi.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Vehicle Subscription Service Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Vehicle Subscription Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Vehicle Subscription Service Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Vehicle Subscription Service Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Vehicle Subscription Service Market Size & Forecast, 2020-2028
4.5.1 Vehicle Subscription Service Market Size and Y-o-Y Growth
4.5.2 Vehicle Subscription Service Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Single Brand
5.2.2 Multiple Brands
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial Use
6.2.2 Personal Use
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Vehicle Subscription Service Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Vehicle Subscription Service Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Single Brand
9.6.2 Multiple Brands
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial Use
9.10.2 Personal Use
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Single Brand
10.6.2 Multiple Brands
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial Use
10.10.2 Personal Use
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Single Brand
11.6.2 Multiple Brands
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial Use
11.10.2 Personal Use
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Single Brand
12.6.2 Multiple Brands
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial Use
12.10.2 Personal Use
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Single Brand
13.6.2 Multiple Brands
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial Use
13.10.2 Personal Use
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Vehicle Subscription Service Market: Competitive Dashboard
14.2 Global Vehicle Subscription Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BMW
14.3.2 Porsche
14.3.3 Volvo
14.3.4 JLR
14.3.5 Volkswagen
14.3.6 Cluno
14.3.7 Revolve
14.3.8 Carvolution AG
14.3.9 Driveto
14.3.10 like2drive (Fleetpool)
14.3.11 Lexus
14.3.12 SIXT
14.3.13 Hyundai
14.3.14 Audi
