The global online travel market is expected to grow at a CAGR of approximately +12% during the forecast period 2018-2023.
The online travel category is currently experiencing rapid change with mobile channel, personalization, and peer-to-peer travel services being the main disruptors. In particular, the rise of the mobile channel is changing booking patterns, consumer behavior and business models in travel.
The growing online travel market could also be shaped by the growing trend of travel service sellers reaching out directly to customers, leading to traditional travel agencies having to branch out in other areas. Online travel providers aim to ease travel planning and bookings for travelers. The online travel is driven by quick and convenient flight and hotel bookings, rise in customers’ trust in online payment, and the ability to compare various available travel options.
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Top Key Players of Online Travel Market:
Expedia, Priceline Group (Booking.com), TripAdvisor, Orbitz, Ctrip.com International, Hostelworld Group, Hotel Urbano Travel, Tourism, CheapOair, Trivago, Thomas Cook Group, MakeMyTrip, CheapTickets, OneTravel, Travelocity, AirGorilla, Hotwire, Kayak, BOD Tech.
The different service types include transportation, travel accommodation, and vacation packages. Key age groups of the market are 22-31, 32-43, 44-56, and >56. The market is further analyzed across geographical regions, namely, North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Nowadays, market players are extensively offering travel services through mobile websites and apps, as it is one of the most preferred mediums of travel bookings, particularly among young professionals.
Online Travel Market Segmentation:
By mode of booking:
- Online Travel Agencies,
- Direct Travel Suppliers
Online Travel Market By types of platform:
Online Travel Market By service types:
- Travel Accommodation,
- Vacation Packages
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However, the online travel market has to face some long term challenges of cutting through the high market competition which has more than 15 companies and the nullification of commissions on air tickets. Given the current trends, there is a need to diversify the business model and adopt the role of a travel advisor, as well as offer services to end-customers for a more convenient and hassle-free journey. The purpose of this research study is to give an in-depth analysis of various market segments. Researchers throw light on different dynamic aspects of the market such as drivers and restraints. Rising needs and popularity of the travel and tourism sector is increasing the demand of the global online travel market.
Key questions answered through this research report:
- What are the threats and challenges in front of the businesses?
- What is the global market size in the forecast period?
- Who are the highest competitors in the global online travel market?
- Which factors are responsible for driving the global market?
Report Consultant concluded with, effective, innovative and accurate insights into the global market by offering the perfect solution for the global market. Different market segments have been examined carefully to understand the ups-down stages of the businesses.
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Table of Content:
Online Travel Market Research Report 2019-2026
Chapter 1. Industry Overview of Online Travel
Chapter 2. Competition Analysis by Players
Chapter 3. Company (Top Players) Profiles
Chapter 4. Market Size by Type and Application (2012-2018)
Chapter 5. United States Online Travel Market Development Status and Outlook
Chapter 6. EU Market Development Status and Outlook
Chapter 7. Japan Market Development Status and Outlook
Chapter 8. China Development Status and Outlook
Chapter 9. India Online Travel Market Development Status and Outlook
Chapter 10. Southeast Asia Market Development and Outlook
Chapter 11. Market Forecast by Regions, Type, and Application (2018-2023)
Chapter 12. Market Dynamics
Chapter 13. Online Travel Market Effect Factor Analysis
Chapter 14. Research Finding/Conclusion
Chapter 15. Appendix