Reliable Data You Can Trust
Reliable Data You Can Trust
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.
The online travel term consists of
booking services and reservations 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 apps 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 the online travel market followed by Europe and
Asia Pacific region. In North America region factors such as CRM solutions 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.
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.
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.
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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