Press release
Online Travel Agent Market - By Business Opportunities, Industry Share Report, Market Size And Outlook By 2023-2032
Online Travel Agent Market
The Business Research Company's Online Travel Agent Global Market Report 2023 identifies surge in smartphone users as the major driver for the Online Travel Agent market's growth in the forecast period. Increasing penetration of the internet and growth in the number of smartphone users is contributing to the consumer shift towards online channels for travel ticket and hotel bookings.
The global online travel agent market size will grow from $761.9 billion in 2022 to $865.5 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global online travel agent is expected to grow to $1,060.01 billion in 2027 at a CAGR of 5.2%.
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Major competitors in the Online Travel Agent market are Booking.com, Expedia Inc., Ctrip, TripAdvisor, Trivago, eDreams Odigeo, Despegar, MakeMyTrip, Lastminute, and On the Beach.
A key trend in the Online Travel Agent market includes rising possibilities of uncertain events. According to the UNWTO estimates, global international tourist arrivals in 2020 are predicted to fall by 20% to 30% compared to the previous year, which translates into a loss of $30-50 billion in travel spending by international visitors. Thus, the online travel agent market is to record a decline in 2020 owing to the impact of COVID-19 across the globe. Moreover, according to Travel Daily Media news, Typhoon Mangkhut jolts Hong Kong and China leaving the tourism, aviation, and transportation industry at standstill. Therefore, the possibility of natural events is probably restraining the growth of the tourism industry including the online travel agent market during the forecast period.
Read More On The Global Online Travel Agent Market Report Here:
https://www.thebusinessresearchcompany.com/report/online-travel-agent-global-market-report
The Online Travel Agent market is segmented -
• By Service Type: Vacation Packages, Transportation, Accommodation
• By Platform: Mobile/Tablets Based, Desktop Based
• By Category: Hotel Bookings, Tickets, Other Categories
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Online Travel Agent market.
The Business Research Company's "Global Online Travel Agent Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Online Travel Agent Market Include:
1. Online Travel Agent Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……………………………………………………………..
19. Company Profiles
20. Key Mergers And Acquisitions In The Online Travel Agent Market
21. Online Travel Agent Market Opportunities And Strategies
22. Online Travel Agent Market, Conclusions And Recommendations
23. Appendix
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