Online Travel Market Highlights:
The online travel industry is basically made up of e-commerce websites trying to provide a hassle-free booking and buying experience to the customers. Increasing internet penetration and rising adoption of social media are among the primary factors influencing the growth of the online travel market.
The global online travel market is expected to grow at a thriving CAGR of 12% and attain USD 1.2 Bn over the forecast period of 2017-2023, as per a research report published by Market Research Future (MRFR). The market has been growing on account of continually evolving and converging business models and fierce competition among companies to gain market share. A substantial rise in the advertising of online travel platforms has also aided in market expansion.
The direct travel suppliers segment is expected to hold the largest market share of the market. Whereas, Online Travel Market agencies segment is expected to grow at the highest rate during the forecast period owing to the increasing adoption of social media and rising demand for hassle-free travel booking options. Also, the growing trend of e-commerce and m-commerce is one major factors driving the growth of the online travel market.
The global Online Travel Market is expected to grow at a CAGR of approximately 12% during the forecast period 2017-2023.
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Major Key Players:
- Expedia, Inc. (U.S.)
- The Priceline Group (U.S.)
- TripAdvisor Inc. (U.S.)
- Ctrip (China)
- Hostelworld Group (Republic of Ireland)
- Hotel Urbano (Brazil)
- CheapOair (U.S.)
- Trivago (Germany)
- Thomas Cook Group plc (U.k)
- MakeMytrip Inc. (India)
- Alibaba Group Holding Limited (China)
- eLong (China)
- TUI Group (Germany)
- Tuniu (China)
- AirGorilla, LLC (U.S.)
- Hays Travel limited (U.k)
- Airbnb (U.S.)
- Yatra.com (India)
The global online travel market has been segmented based on platform, mode of booking, and service type. By platform, the market has been segmented into mobile and desktop.
By mode of booking, the market has been segmented into online travel agencies and direct travel supplies. By service type, the market has been segmented into transportation, accommodation, vacation packages, and others.
The global online travel market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period.
The growth of market in North America is attributed to the technological advancements and increased adoption of e-commerce applications across various industry verticals.
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Regulatory agencies
- Corporate sector
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
List of Tables
Table 1 Global Online Travel Market: By Region, 2017-2023
Table 2 North America Online Travel Market: By Country, 2017-2023
Table 3 Europe Online Travel Market: By Country, 2017-2023
List of Figures
Figure 1 Global Online Travel Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Five Forces Analysis of Global Online Travel Market
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