Short-Term Rental Market Share

North America Market Forecast

North America in short-term rental market is anticipated to hold more than 40.5% revenue share by 2037, owing to a rise in the number of travelers in the region. The emergence of start-up companies and the existence of established competitors are benefitting the market growth. For instance, PriceLabs is one of the popular cloud-based software solutions for vacation and short-term rentals.

The U.S. short-term rental market is estimated to be valued at USD 36.17 billion in 2025 and is expected to increase at a CAGR of 11.5% through 2037. The rise in social media influencers and travel bloggers in the U.S. is promoting short-term rental adoption. Experiences shared by these communities’ aid customers to make informed decisions and also promote the businesses of service providers owing to their positive reviews.

In Canada, particularly Vancouver, Toronto, and Montreal are major tourism hubs attracting visitors for leisure and business purposes, leading to high demand for short-term rental accommodations in the coming years. As per the analysis by Statistics Canada, short-term rentals play a vital role in driving the accommodation services subsector's growth in the country, the share revenues increased from 7% in 2017 to 15.2% by 2021.

APAC Market Statistics

By the end of 2037, Asia Pacific short-term rental market is likely to account for more than 30.5%   share, owing to rising tourism activities in the region. India, China, Japan, South Korea, and Australia are some of the most profitable marketplaces in the region. The Australian Bureau of Statistics revealed that till July 2024, around 6, 58,970 short-term visitors arrived in the country, a rise of 5.4% compared to the past year.

In India, the demand for vacation rentals is foreseen to increase at a CAGR of 4.5% and reach USD 2.5 billion in 2025. The advancements in digital platforms and online booking systems are making traveling and renting easy for tourists in India. India’s rich cultural heritage, diverse landscapes, and popular tourist destinations such as Goa, Jaipur, and Kerala are attracting both domestic and international travelers, fuelling the use of online short-term rental platforms. For instance, the vacation rental user penetration rate is estimated to rise from 3.8% in 2024 to 5.4% by 2029 in India.