Press release
Online Travel Market is Expected To Grow At USD 1,134.55 Billion By 2023 With A CAGR Of 13.16% During The Forecast Period 2018-2023 | Study Top Key Players like MakeMyTrip (India) Pvt. Ltd (India), Alibaba Group Holding Limited (China)
Online Travel Market analysis 2018-2023
The online travel industry has experienced a few changes in the course of the most recent decade, attributable to innovation propels. Utilization of innovation in the movement business has made some amazing progress since the global distribution system (GDS) because of the utilization of portable applications and the rising entrance of the Internet. This has helped in changing the procedure of travel booking, making it simple and quick. With this, the procedure for travel booking has encountered a huge move from physical to web appointments, and now versatile stages. Internet-based life stages have risen as a noteworthy influencer and a powerful advertising stage for online visit organizations. Along these lines, web-based life stages help online travel organizations to advertise their administrations and carry straightforwardness and simplicity to the whole procedure.
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The global online travel market is expected to grow at USD 1,134.55 billion by 2023 with a CAGR of 13.16% during the forecast period.
Market segmentation
The online travel industry is segmented on the basis of its booking mode, platform type, service type, and regional demand. Based on its platform type, the market is divided into the desktop-based platform and mobile/tablets based. On the basis of its mode of booking, the market is bifurcated into direct travel facilitators and online travel agencies. Based on its service type, the market is divided into accommodation, transportation, and vacation packages, and regional demand.
Regional analysis
Geographically, the global online travel industry is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
MakeMyTrip (India) Pvt. Ltd (India), Alibaba Group Holding Limited (China), Airbnb Inc. (US) and eDreams ODIGEO SA (Luxembourg), Expedia Inc. (US), Booking Holdings Inc. (US), TripAdvisor Inc. (US), Ctrip.com International Ltd (China), Ryanair DAC (Ireland), Thomas Cook Group PLC (UK), among others are some of the major players in the global online travel industry.
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