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In this article, we'll embark on a journey that illuminates the transformative potential of blockchain within IoT, elucidates the inherent challenges, showcases the tangible benefits, and spotlights industries positioned for this integration. Contact our team for bespoke IoT and blockchain-based business solutions tailored to your needs.
"The global car rental market size is expected to reach USD 125.4 billion by 2025, registering a CAGR of 5.1% from 2019 to 2025. High total cost of ownership (TCO) associated with personal vehicles and growth in the tourism industry across the globe are two main factors fueling the market.
Increasing number of smartphone users globally and rising dependency on technology for carrying out activities such as booking and paying for rental services have been vital to market growth over the years. A number of vehicle rental companies are rolling out apps to notify their customers about promotional offers, discount coupons, fare, real-time tracking, and availability. As customers demand availability of cars in minimal time, industry players are focusing on enhancing their service convenience and streamlining business processes by utilizing IoT-enabled fleet management solutions."