Online Travel Market

Global Online Travel Market by Modes of Booking (Direct Travel Suppliers and Online Travel Agencies), Service Types (Vacation Packages, Transportation, and Travel Accommodation), Types of Platforms (Desktop and Mobile), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-1135
  • Author: Growth Market Reports
  • Rating: 4.8
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  • No. Of Pages: 134
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The global online travel market size is estimated to reach USD 1505.6 billion by 2026 and is projected to expand at a significant CAGR of 9.7% during the forecast period, 2021–2028. The growth of the market is attributed to growing awareness among males regarding grooming and personal hygiene globally. The growth of the market is attributed to rising penetration of internet usage and smartphone users, increasing tourism industry, and rising faith of customers in online payments across the globe.

Travel that is booked online through a website that specializes in making travel arrangements such as flight tickets, automobile rentals, and packages is known as online travel. Online travel companies or direct travel suppliers are the agencies that help with travel booking. The goal of online travel companies is to make planning and booking travel easy for travelers. Online travel service is accessed via a mobile app or a website and bookings are made directly with the agency, but confirmation is provided by service providers such as motels or airplanes.

Travel e-commerce websites offer recommendations for various lodgings, locations, and attractions as well as information on how to get there. Most governments and states have their own travel websites to attract tourists. Traditional travel consultants are being replaced by online travel booking platforms, due to increasing internet penetration. MakeMyTrip Limited, Trivago N.V., Airbnb, Google Trips, Uber, and TripAdvisor are among the dedicated websites for trips and travel.

Market Trends, Drivers, Restraints, and Opportunities

Drivers

  • Rising implementation of technological advancements in the online travel market is spurring the market growth during the forecast period. Increased usage of mobile applications enabled travel booking to be flexible and convenient.
  • Growing use of smartphones and rising penetration of internet are estimated to fuel the market in the coming years.
  • Rapid growth of urbanization, rising per capita income, economic expansion as well as change in customer lifestyles for enhanced services and comfort are anticipated to boost the market during the forecast period.
  • Various services provided by online travel such as secure and quick payment methods, online reviews of hotels and transportation capabilities, and convenient and simple cancellation are all factors that are expected to drive the global online travel market during the forecast period.

Restraints

  • Growing concerns regarding safety and privacy during online payments and bookings is projected to hinder the market growth during the forecast period.

Global Online Travel Market Segment Insights

Global Online Travel Market Taxonomy

Based on modes of booking, the market is segmented into direct travel suppliers and online travel agencies. The online travel agencies segment is expected to account for a key share of the market during the forecast period, due to high acceptance of this mode of booking by customers as a part of the spectacular benefits associated with its use, such as saving time and money, as they do not charge any consultancy fees, provide expert insights and a safety net to the trip, make multi-destination travel smooth, and allow customers to check feedback.

In terms of service types, the global online travel market is segregated into vacation packages, transportation, and travel accommodation. The travel accommodation segment is anticipated to dominate the market during the forecast period, as this segment holds the largest share in the market. Increasing number of business travelers around the world is a major factor that is estimated to boost the market during the forecast period.

Based on types of platforms, the market is segmented into desktop and mobile. The mobile segment is expected to represent a key share of the market during the forecast period, due to hassle-free navigation through online sites and easy accessibility of mobile apps. Businesses have started to cater to the demands of passengers with creative mobile travel apps to increase their market share. Apps with a variety of features are being created to keep travelers connected during their journey and to assist them as needed.

On the basis of regions, the global online travel market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Increasing number of visitors in this region is attributed to increased disposable income and rising internet usage across developing countries. Asia Pacific is expected to dominate the market over the forecast period.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Online Travel Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Online Travel Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Online Travel Market - Supply Chain
  4.5. Global Online Travel Market Forecast
     4.5.1. Online Travel Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Online Travel Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Online Travel Market Absolute $ Opportunity
5. Global Online Travel Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Online Travel Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Online Travel Demand Share Forecast, 2019-2026
6. North America Online Travel Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Online Travel Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Online Travel Demand Share Forecast, 2019-2026
7. Latin America Online Travel Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Online Travel Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Online Travel Demand Share Forecast, 2019-2026
8. Europe Online Travel Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Online Travel Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Online Travel Demand Share Forecast, 2019-2026
9. Asia Pacific Online Travel Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Online Travel Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Online Travel Demand Share Forecast, 2019-2026
10. Middle East & Africa Online Travel Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Online Travel Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Online Travel Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Online Travel Market: Market Share Analysis
  11.2. Online Travel Distributors and Customers
  11.3. Online Travel Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Booking Holdings Inc.
     11.4.2. Expedia Group
     11.4.3. Trip.com Group Limited
     11.4.4. TripAdvisor LLC
     11.4.5. Hurb
     11.4.6. Hostelworld Group
     11.4.7. CheapOair.Com
     11.4.8. Thomas Cook Group plc
     11.4.9.
Segments Covered in the Report:
By Modes of bookings
  • Direct travel suppliers
  • Online travel agencies
By Service types
  • Vacation packages
  • Transportation
  • Travel accommodation
By Types of platforms
  • Desktop
  • Mobile
By Regions
  • Asia Pacific
  • North America
  • Europe, Latin America
  • Middle East & Africa
By Key Players
  • Booking Holdings Inc.
  • Expedia Group
  • Trip.com Group Limited
  • TripAdvisor LLC
  • Hurb
  • Hostelworld Group
  • CheapOair.Com
  • Thomas Cook Group plc
  • Trivago
  • MakeMyTrip Pvt. Ltd.

Booking Holdings Inc., Expedia Group, Trip.com Group Limited, TripAdvisor LLC, Hurb, Hostelworld Group, CheapOair.Com, Thomas Cook Group plc, Trivago, and MakeMyTrip Pvt. Ltd. are some of the key players in the market.

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