How the Rental Marketplace industry will disrupt the future?

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How the Rental Marketplace Industry will Disrupt
the Future?

• www.rentallscript.com

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INTRODUCTION

• The growth of the rental industry has been
  enormous and its building trust and also
  reducing transaction costs for the future of the
  rental marketplace.
• In the future, the rental industry will continue
  to expand and evolve with newer technologies as
  we can never imagine. Experts predict that this
  industry will stand out when compared with other
  industries.
• It is a great time to share with you the
  opportunities and also technologies that are
  going to play a major role in the future of the
  rental marketplace.

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Predicting the future of the rental marketplace

• According to the report, this industry currently
  serves over 44.8 million individuals in various
  strata and is expected to rise above 86.5million
  people by 2021. Approximately It will reach
  40.2B in 2022 and also revenue will increase up
  to 18.6B. It is also expecting to grow from14
  billion in 2014 to 335 billion by 2025.
• This estimate is based on the growth of the
  rental industry. Most importantly, we should see
  how technologies are going to disrupt the future
  of the rental marketplace.

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Blockchain

• The blockchain is one of the fast-growing
  technologies and also going to be the next step
  of the rental industry. This technology has taken
  quite a turn in the industry given its popularity
  in providing safe and also secure online
  transactions. Many industries are adopting
  blockchain because of its numerous benefits such
  as,
• Increased time effectiveness due to real-time
  transactions
• Direct transactions eliminate the intermediary
  costs.
• Reduces risks related to fraudulent.
• More transparent processes with a proper record
  creation and tracking
• Highly secure due to cryptographic protocols.

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2. Internet of things

• With the enormous hype in the IoT, there are many
  opportunities available to create a myriad of
  sharing platforms. By utilizing IoT, we can also
  facilitate the sharing of our existing devices,
  vehicles, and buildings by embedding sensors and
  network connectivity that enable our things to
  collect and also exchange data. IoT is more
  familiar due to its some below important
  benefits,
• Less human involvement
• Continuous tracking
• Endless monitoring
• Handling secure direct payments

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3. Big Data

• The role of big data in the rental business is
  receiving the data from their users(such as name,
  location, data, and preferences), a giant
  database is accessed to filter results that will
  be relevant to the user. Without big data these
  platforms would not exist, they rely on the
  manipulation of data and algorithms to match
  customers and service providers. It contributes
  in many ways to the growth of these industries.
  Let us see how big data is fueling the rental
  business,
• Meeting required needs
• Improving businesses
• Good for the consumer as well
• Ensuring the survival of the fittest

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4. Data processing with Edge computing

• Edge computing plays a vital role in the rental
  business as it brings computing power, control,
  and storage and it makes easier to operate
  without any latency. It also helps in scaling up
  and generating revenue and providing faster
  response time. Heres how businesses can scale up
  by bringing edge computing to their fold,
• Cost efficiency
• Earning reputation
• Performing without any lag
• Reducing data latency
• Protecting sensitive data

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5. Cloud computing

• It is most important in the rental business
  because it increases efficiency, helps improve
  cash flow and also offers many benefits as
  follows,
• Flexibility
• Capital expenditure fee
• Increasing Competitiveness
• Environment-friendly
• Provides security

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6. Artificial Intelligence

• Artificial intelligence will be used in the
  rental business helping the host to set the best
  prices, enhance the user experience and also
  ensure security. The vast benefits of AI are as
  follows,
• Personalizing customer experience with AI
• Setting smart prices
• Preventing fraud
• Improving internal operations

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Winding Up

• By seeing the above predictions and also the
  reason behind the success of the rental sharing,
  we came to conclude that it should be the way of
  the future. Whether it is a ride, stay, or even
  sharing working space, people are finding it
  cheaper and also more convenient.
• Also, empowering the platform with the latest
  features and also functionalities will enrich
  your rental business. To get support for building
  your own rental sharing business, connect with
  RentALL Airbnb clone.