Online Travel Market to Expected Reach $1,091 Billion by 2022 | Top Key Players are Expedia, Priceline Group, TripAdvisor, Trivago Gmbh, MakeMytrip, Alibaba, AirGorilla, Hays Travel limited
Growth of the online travel market is driven by the increase in internet penetration, rise in disposable income of people in emerging markets, and ease of comparing a variety of travel options online. Market players are introducing innovative travel and vacation package deals to assist travelers' in making sound travel decisions as per their spending capability, such as affordable packages for international destination, discounts on car rentals and cash back on international flights.
Online Travel Market Report Can Be Accessed On The Website At: https://www.alliedmarketresearch.com/online-travel-market?utm_source=OpenPR
Direct travel suppliers segment accounted for approximately 57% of the overall online travel market revenue in 2015. Though, the segment would continue to dominate the market over the analysis period, a gradual reduction in its market share is expected, owing to the growing popularity of online travel agencies (OTAs). OTAs are expanding their offerings at a rapid rate to attract travelers and increase their customer base.
Based on booking platforms, the market is segmented into mobile and desktop. Mobile platform attributes to two-sevenths of the market revenue and is anticipated to witness highest growth in coming years. This is attributed to increased penetration of smartphones and growing confidence of people in safety of mobile payments.
Transportation segment is projected to maintain its lead in the overall online travel services market, owing to rise in online flight bookings. Expansion in the number of low-cost carriers and growth in the number of connecting flights for tier I and II cities across the globe, drive the growth of flight bookings. In addition, online rail bookings witnessed a significant growth in the past few years. Expedia, a leading online travel agency, has announced its plans to launch a rail ticketing service in Europe by end of 2016, to mark its presence in the rail services within the transportation segment.
The online travel market is segmented on the basis of age group, wherein the travelers in the age group of 32-43 years, occupy a major portion of the market. However, from a growth perspective, the young travelers within the age group of 22-31 years', would witness the highest CAGR, due to extensive use of social media and smartphones for travel planning and bookings.
North America accounted for the majority revenue in 2015; however, Asia-Pacific is estimated to overtake North Americain coming years to become the leading revenue-generating region. This is attributed to growing disposable income, growth in middle-class segment, increased penetration of Internet facilities, and increase in the number of youth population in emerging markets of Asia-Pacific.
Download PDF Sample Copy: https://www.alliedmarketresearch.com/request-sample/1743?utm_source=OpenPR
•Growing exposure to multimedia phones and increased penetration of online services would accelerate the growth of the overall online travel market.
•India is estimated to be the fastest growing country in Asia-Pacific, growing at a CAGR of 18.5% during the forecast period.
•Travelers within the age group of 22 and 31 years are more inclined towards online travel services, as they are more tech savvy and are constantly connected to social media.
•Flights and hotel bookings are anticipated to grow at an unprecedented rate.
Key players profiled in this report are Expedia, Inc., Priceline Group Inc., TripAdvisor Inc., Ctrip.com International, Ltd., Hostelworld Group, Hotel Urbano Travel and Tourism SA, Fareportal, Inc., Trivago GmbH, ThomasCook Group, and MakeMyTrip Limited.
Enquiry and Purchase Report: https://www.alliedmarketresearch.com/purchase-enquiry/1743?utm_source=OpenPR
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Online Travel Market to Expected Reach $1,091 Billion by 2022 | Top Key Players are Expedia, Priceline Group, TripAdvisor, Trivago Gmbh, MakeMytrip, Alibaba, AirGorilla, Hays Travel limited here
News-ID: 1421229 • Views: 897
More Releases from Allied Market Research
Overview Membrane Technology for Food and Beverage Processing Market Size, Share …
Membranes are natural or manufactured substances used for separation. They commonly serve the purpose of filter pads. Membranes, which are semi-permeable in nature (allow only selective compounds/substances to flow pass them) are easy to manufacture. These are gaining popularity in the process industry where purity of products is highly desired. Membranes are available in every shape and size and are required in numerous devices right from the water filter at
Cooking Appliances Market is Predicted to Grow High CAGR from 2019 to 2026
The cooking appliance include products such as microwaves, ovens, cook tops, and range hoods. Modern cooking appliance are used to provide ease to chefs. Also, with rapid depletion of natural resources such as LPG, and other petroleum products, there is an urgent need to use efficient and eco-friendly cooking appliances in kitchen. Key players are developing advance cooking appliances in order to increase their market share, and on the same
Power Bank Market Insights with Statistics and Growth Prediction 2018 to 2025
The growth of the global power bank market is driven by rising in demand for smartphones across the globe and an increase in sales of power banks on online portals & e-commerce websites. However, factors such as emerging trends of wireless charging and improved battery capacity of electronic devices hamper market growth. On the other hand, the development of solar & hydrogen fuel-based power banks and an increase in the
Shale Gas Market 2022 | Business Analysis and Evolutionary Growth
Shale gas is emerging as an ideal energy source, owing to its abundance, low carbon footprint and comparatively low price than conventional energy source such as natural gas, coal, nuclear and hydro. However, the issue of water scarcity due to the hydraulic fracturing technique may hamper its production. Moreover, the unstructured regulatory framework in the European countries may dampen its producers to some extent. The global shale gas consumption is
More Releases for Travel
Travel Mobile Application Developers
we have extensive experience in creating high performance, feature-packed native mobile applications for all the major platforms including iOS, Android..Travayoo Mobile App Development takes its best position and strives to work with the growing outline. Rather than mobile app development, our company also works on B2B , B2C booking engine system. Our mobile application development process integrates design and development to come up with a flexible process that delivers result. INGENIUM
Las Vegas Travel Tips
The city of Las Vegas is known as a universal goal of betting in the clubhouse that are situated over this city and the nightlife that is offered to the voyagers, who visit this goal from various parts of the world. For single ladies voyagers to Las Vegas, the season of New Year ought to have stayed away from as the city is uncommonly swarmed amid this time. Nonetheless, the
Trending travel platform
LetsGo2 App is the modern platform for travelers coming in & out of Los Angeles. Airport Shuttle: Premium shuttle service from LAX & most airports in the surrounding to all major cities across California. Our unique feature allow travelers to book their trip weeks ahead. Private tour: Explore Los Angeles with our various tour options. We start from your residence and bring you back home. Hollywood tour: Hollywood Sign, Walk
City Travel Briefing: Paris
Paris has been resilient as one of the world's leading tourist destinations despite a host of challenges related to security, accommodation and overcrowding. With a clear focus on reinventing the city for the modern traveller by transforming its infrastructure, culture and attractions, Paris is well placed to compete with emerging cities vying to become the tourist destination of choice. This report outlines Paris's strategy in attracting new (and old) holidaymakers
Global Travel Vaccines Market
Health related complications are greater in developing countries and rural areas because of dissimilarities in sanitary conditions, available food and water bases. The immunization Practices Advisory Committee of the Center for Disease Control and Prevention (CDC) mentions that travelers should be up-to-date on routine immunizations, irrespective of travel plans. The target population for the travel vaccines market include outbound travelers. The travel vaccines for the prevention of hepatitis A, hepatitis
Tonga Travel Guide Launched
South Pacific Travel has launched its online Tonga Travel Guide with 125 pages of maps, photos, drawings, and travel information. Tonga.SouthPacific.org is based on the Kingdom of Tonga chapter from Moon Handbooks South Pacific, now fully updated by the original author David Stanley. The 11 digital map files used in the printed book have been modified for web use. The site outlines the many sports and recreation opportunities in Tonga. The