Online Travel Market (Platform Type - Personal Computer, and Mobile/Tablets; Mode of Booking - Direct Agency, and Online; Services Type - Vacation Packages, Transportation, and Accommodation): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : November, 2019

  • Rep Id : CGP047

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on the online travel market provides an in-depth analysis of segments and sub-segments in the global as well as regional online travel market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional online travel market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global online travel market. According to the report, the global online travel market is projected to grow at a CAGR of 11.78% over the forecast period of 2019-2025.

 

Market Insight

The online travel term consists of booking services and reservation online, which helps consumers in order to plan their trips via the internet rather than using middleman or any agency. It offers customers a quick and convenient way of booking their traveling wants and needs. This online travel industry proposes different costs, rates, transportation, tour packages and locations for accommodations. They also help customers in finding the best deals of their trip such as airfare and reservation of hotel accommodations. Further, several market players are widely providing travel services through mobile apps and websites. As it the most ideal mediums for travel booking among youngsters.

 

Increasing the use of mobile applications and growing vast usage of the internet are the factors driving the growth of the online travel market. As per an article, nearly 48% of smartphone users in the U.S are comfortable in booking, researching and planning their entire trip to a new destination using mobile phones. Further, advancement in technology and the availability of high-speed internet travelers can book their hotels and flight tickets according to their convenience. Rather than staying in unfamiliar hotels with uneasiness, customers prefer to search online reviews for their stay. In addition to this, and ease of comparing a variety of travel options online and growth in income of people in emerging markets are also supporting the growth of this market. Moreover, the introduction of innovative vacation and travel package deals in order to guide travelers in making correct travel decisions according to their spending capacity, discounts, affordability of packages and cashback is also supporting the growth of the online travel market. Moreover, the social media platform has also played a major role in driving the online travel market. It is an effective marketing platform and influencer for the online travel industry. Travelers use this social media platform to post their reviews and share their experiences about the trip. This further helps consumers in making decisions according to their needs and requirements. Besides, innovation in mobile travel app and the introduction of new technology such as augmented and virtual reality are anticipated to generate an opportunity for the online travel market in upcoming years. By combining these technologies in their existing applications and platforms it can deliver a good user experience. On the other side, lack of customers’ willingness and unreliability on online travel are likely to hamper the growth of the online travel market.

 

In terms of geographies, North America dominated the growth of online travel market followed by Europe and Asia Pacific region. In North America region factors such as CRM solution and increasing usage of mobile phones are driving the growth of the online travel market. In the Europe region owing to the adoption of new technologies is responsible for the growth of this market. Further, in Asia Pacific region factors such as development in technology, the introduction of innovative vacation and travel packages is responsible for the growth of the online travel market in this region.

 

Segment Covered

The report on the global online travel market covers segments such as platform type, mode of booking, and services type. On the basis of platform type, the sub-markets include a personal computer, and mobile/tablets. On the basis of mode of booking, the sub-markets include direct agency, and online. On the basis of services type, the sub-markets include vacation packages, transportation, and accommodation.

 

Companies Profiled:

The report provides profiles of the companies in the market such as eDreams Odigeo SA, Expedia Group, Ctrip.com International, Ltd, Priceline Group Inc., Hotel Urbano, TripAdvisor LLC., Trivago N.V., Thomas Cook Group Plc, MakeMyTrip Limited, and Hostelworld Group.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the online travel market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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