Press release
Global Online Travel Agent Market Takes Flight Exploring New Horizons in Travel Services Size, Industry Development Scenario, Competition Dynamics and Growth Objectives by 2030 | Booking.com, Agoda, Lastminute.com
From 2023 to 2030, the Online Travel Agent (OTAs) Market is anticipated to expand at a CAGR of 10.3%, reaching $2.3 trillion. The market is being pushed by the expanding acceptance of internet travel reservations, consumer discretionary money, and desire for travel experiences. The business of offering online platforms and services that let customers book travel-related goods and services such as flights, lodging, auto rentals, holiday packages, and activities is known as the online travel agency market. Online travel agents (OTAs) act as go-betweens for clients and travel providers by compiling travel alternatives and providing a simple online booking tool for users to compare costs and make bookings.
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The Key companies profiled in the Online Travel Agent Market:
The study examines the Online Travel Agent Market's competitive landscape and includes data Booking.com, Agoda, Lastminute.com, Expedia, Hotwire, Skyscanner, Kiwi.com, TravelPerk, SAP Concur, CWT & Others
Global Online Travel Agent Market Split by Product Type and Applications
This report segments the Online Travel Agent market on the basis of Types:
Leisure Travel
Business Travel
On the basis of Application, the Online Travel Agent market is segmented into:
Age between 18-34
Age between 35-54
Age higher than 55
Due to a number of causes, the online travel agent market has seen tremendous expansion in recent years. The growing popularity of online reservations and the expansion of digitization in the travel sector are two major factors. OTAs have gained popularity as popular options for making travel reservations as customers get more accustomed to conducting business online and demand convenience in trip planning. Additionally, the market for online travel agencies has grown as a result of the rise of the worldwide travel and tourism sector. Travelers now rely on OTAs to discover the best bargains and access a variety of travel services due to the rising frequency of leisure and business travel as well as the diversification of travel alternatives.
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The geographical differences in the online travel agent market are driven by things like internet penetration, infrastructure in the travel sector, customer behavior, and economic situations. Due to strong internet penetration rates, established travel sectors, and a sizable population of tech-savvy travelers, North America and Europe are key marketplaces for online travel agencies. These areas are early users of internet travel booking systems and have well-established OTAs. Due to factors including rising smartphone usage, a growing middle class, and rising interest in foreign travel, the Asia-Pacific area has experienced significant development in recent years. The rise of the market is facilitated by important players in the area such China, India, and Southeast Asian nations.
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Market Segmentation:
Online Travel Agent Market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
The primary and secondary research methods were combined in the research process for the present work. While secondary research uses information from trade magazines, trade groups, and industry studies, primary research uses interviews with subject-matter experts. Interviews with online travel agencies, travel industry professionals, tourists, and representatives from travel suppliers were part of the primary study. These contacts aided in the study of market trends, consumer preferences, difficulties, and expansion prospects in the market for online travel agencies. In-depth secondary research was done to gather information from reliable sources such market research databases, OTA websites, industry papers, and travel journals. In order to guarantee the authenticity and quality of the study, market data and statistics were also gathered from reliable databases.
Reasons Why You Should Buy This Report:
• To gain an in-depth understanding of the Online Travel Agent market.
• To obtain research-based business decisions and add weight to presentations and marketing strategies.
• To gain competitive knowledge of leading market players.
• It gives pin point investigation of changing rivalry elements and keeps you in front of contenders.
• It helps in settling on educated business choices by having total bits of knowledge of the market and by making inside and out investigations of market sections.
If you have any special requirements, please let us know and we will offer you the report you want.
The years examined in this study are the following to estimate the Online Travel Agent market size:
History Year: 2017-2021
Base Year: 2022
Estimated Year: 2023
Forecast Year: 2023 to 2030
FAQs:
• Who are the key players in this Market?
• At what CAGR is the market projected to grow during the forecast period?
• What are the key contributing factors to the market growth?
• What are the key players operating in the Middle East & Africa?
• Which products & services have been included in this market?
• Which segment of this market accounted for the largest share in 2023?
Browse complete Online Travel Agent market report details with table of contents and list of figures click here
https://www.infinitybusinessinsights.com/reports/global-online-travel-agent-market-2023-by-company-regions-type-and-application-forecast-to-2030-1409634?mode=AG45
Table of Contents:
1 Online Travel Agent market Overview
2 Company Profiles
3 Online Travel Agent Market Competition, by Players
4 Online Travel Agent market Size Segment by Type
5 Online Travel Agent market Size Segment by Application
6 North America by Country, by Type, and by Application
7 Europe by Country, by Type, and by Application
8 Asia-Pacific by Region, by Type, and by Application
9 South America by Country, by Type, and by Application
10 Middle East & Africa by Country, by Type, and by Application
11 Research Findings and Conclusion
12 Appendix...
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Infinity Business Insights is a market research company that offers market and business research intelligence all around the world. We are specialized in offering the services in various industry verticals to recognize their highest-value chance, address their most analytical challenges, and alter their work.
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