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Online Travel Market Targets to Reach $1,091 Billion by 2022

11-03-2020 07:53 AM CET | Tourism, Cars, Traffic

Press release from: Allied Market Research

Online Travel Market

Online Travel Market

Online Travel Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $1,091 billion by 2022, registering a CAGR of 11.1% during the period 2016-2022. Asia-Pacific is expected to witness the highest growth during the forecast period. Direct travel suppliers, such as hotels, airlines and car rental companies, which offer booking facilities on their websites, dominate the market, whereas Online Travel Agencies (OTAs) would witness higher growth over the next 5 – 6 years.

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.

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.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/1743

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 witnesshighest 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.

KEY BENEFITS OF ONLINE TRAVEL MARKET
• A comprehensive analysis of the current trends and future estimations in the global online travel market has been provided in this report.
• This report presents information regarding key drivers, restraints, and opportunities along with a detailed impact analysis from 2014 to 2022.
• Porter’s Five Forces model of the online travel industry illustrate the potency of the buyers and suppliers participating in the market.
• A quantitative analysis of the current scenario and the forecast period from 2016 to 2022 highlights the financial competency of the market.
• This report provides a detailed analysis of the global online travel market with respect to mode of booking, types of platform, service types, age group, and geography to enable stakeholders to take appropriate investment decisions.
• Value chain analysis in the report provides a clear understanding on the role of stakeholders involved in this process.

Read More: https://www.alliedmarketresearch.com/online-travel-market

KEY MARKET SEGMENTS ONLINE TRAVEL MARKET

BY MODE OF BOOKING
• Online Travel Agencies
• Direct Travel Suppliers

BY TYPES OF PLATFORM
• Mobile
• Desktop

BY SERVICE TYPES
• Transportation
• Travel Accommodation
• Vacation Packages

BY AGE GROUP
• 22-31
• 32-43
• 44-56
• >56

BY GEOGRAPHY
• North America
• Europe
• Asia-Pacific
• LAMEA

MARKET PLAYERS IN THE VALUE CHAIN:
• Expedia, Inc.
• Priceline Group Inc.
• TripAdvisor LLC
• Ctrip.Com International, Ltd.
• Hostelworld Group
• Hotel Urbano Travel and Tourism Sa
• Cheapoair.Com
• Trivago Gmbh
• Thomas Cook Group plc
• MakeMytrip Limited
• Alibaba Group
• Elong, Inc.
• TUI Group
• Tuniu Corporation
• AirGorilla, LLC
• Hays Travel limited
• Airbnb, Inc.
• Yatra Online Private Limited, India

Download PDF Sample Copy:https://www.alliedmarketresearch.com/request-sample/1743

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

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