Global Online Travel Booking Market
Global Online Travel Booking Market was valued US$ 770.0 0Bn in 2017 and is expected to reach US$ 1,965.0 Bn by 2026 at a CAGR of 12.45%.
Growth in digital platforms drives the online travel industry globally. The hotel industry is playing a significant role in the growth of the online travel booking market place. Most hoteliers accept digital platforms to utilize the digital boom as internet penetration is steadily growing worldwide. Online travel agencies such as expedia, booking holdings formerly called as priceline, ctrip so on are another significant group of actors for the global online travel market as they offer services like marketing, information sharing, and transactions that benefit both providers and consumers of accommodation.
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Transportation segment is expected to maintain its lead in the overall online travel services market, owing to an increase 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, driving the growth of flight bookings. Moreover, online rail bookings witnessed 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 inside the transportation segment.
A mobile platform is leading the global online travel booking market. The mobile platform is attributed to increased penetration of smartphones and the growing confidence of people in the safety of mobile payments.
Region-wise, North America held a major market share in 2017 with the U.S. being a major revenue contributor. The region is anticipated to grow substantially over the forecast timeframe, because of the increasing adoption of mobile applications for online travel booking, especially in the transportation sector. The Asia Pacific region is likely to grow at the fastest rate in the future, owing to digitization trends and internet penetration in the region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global online travel booking market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global online travel booking market.
The scope of Global Online Travel Booking Market
Global Online Travel Booking Market, by Mode of booking
• Online Travel Agencies
• Direct Travel Suppliers
Global Online Travel Booking Market, by Type of platform
Global Online Travel Booking Market, by Service type
• Travel Accommodation
• Vacation Packages
Global Online Travel Booking Market, by Age group
Global Online Travel Booking Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in the Global Online Travel Booking Market
• Priceline Group Inc.
• Expedia, Inc.
• Ctrip.Com International, Ltd.
• Trip Advisor LLC
• Hostelworld Group
• Hotel Urbano Travel
• Tourism SA,
• Trivago GmbH
• Thomas Cook Group Plc
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