Tourism & Hotel Booking Online Travel Market Global Analysis

 


Online travel is defined as travel that is booked online through a website that specialises in making travel arrangements such as airline tickets, car rentals, and vacation packages. Travel agencies that assist with booking are either online travel agencies or direct travel suppliers. Customers can interact with online travel agencies while researching, booking, or planning their travel trip. The online travel agency can be a mobile app or a website, and bookings can be made directly with the online travel agency, but confirmation is provided by service providers such as hotels or airlines.

The global online travel market is primarily driven by a number of factors, including the growing tourism industry, as well as the increasing penetration of internet usage and smartphone users in various countries. Furthermore, the increasing implementation of technological advancements in the online travel industry, as well as the increasing use of mobile applications, have made travel booking more convenient. This factor is fueling the expansion of the global online travel market. Furthermore, rapid urbanisation, rising per capita income, economic growth, and a shift in customer lifestyle toward more enhanced services and comfort will all have a positive impact on market growth.

Market Overview

The Online Travel Market is expected to be worth $1,091 billion by 2022, with a CAGR of 11.1 percent from 2016 to 2022. Online travel agencies strive to make travel planning and booking easier for travellers. The online travel market is being driven by quick and easy flight and hotel bookings, as well as an increase in customer trust in online payment. Nowadays, market players offer a wide range of travel services via mobile websites and apps, as this is one of the most popular modes of travel booking, particularly among young professionals.

The report divides the global online travel market into segments based on mode of booking, platform type, service type, age group, and geography. The two main modes of booking are through online travel agencies (OTAs) and direct travel suppliers. The market is divided into mobile and desktop platforms based on the type of platform. Transportation, travel accommodations, and vacation packages are among the various service types. The market's key age groups are 22-31, 32-43, 44-56, and >56. The market is further segmented into North America (the United States, Canada, and Mexico), Europe (the United Kingdom, Germany, France, and the rest of Europe), Asia-Pacific (India, China, Japan, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Market Benefit

         I.            This report provides a comprehensive analysis of current trends and future projections in the global online travel market.

       II.            Porter's Five Forces model of the online travel industry illustrates the market power of buyers and suppliers.

     III.            A quantitative analysis of the current scenario and the forecast period from 2016 to 2022 demonstrates the market's financial strength.

    IV.            This report includes key drivers, restraints, and opportunities, as well as a detailed impact analysis from 2014 to 2022.

      V.            This report provides a detailed analysis of the global online travel market by mode of booking, platform type, service type, age group, and geography, allowing stakeholders to make informed investment decisions.

    VI.            The report's value chain analysis provides a clear understanding of the role of stakeholders involved in this process.

Market Development

The global online travel market has been segmented by mode of booking, platform type, service type, age group, and region. The market is divided into direct travel suppliers and online travel agencies based on the mode of booking (OTAs). The market is divided into two categories based on platform type: desktop and mobile. The market is divided into three categories: travel accommodation, transportation, and vacation packages. The market is divided into four age groups: 22-31, 32-43, 44-56, and >56.

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