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Digital Travel Market Size, Share, Trends, Growth And Key Players Over 2033
Digital Travel Market Size
As per the report, the digital travel market size has grown rapidly in recent years. It will grow from $372.56 billion in 2023 to $423.94 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The digital travel market size is expected to see rapid growth in the next few years. It will grow to $714.58 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%.
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Exploring New Horizons The Digital Evolution Of Tourism
The growing popularity of tourism is expected to propel the growth of the digital travel market going forward. Tourism refers to traveling to remote or exotic regions to participate in physically demanding activities or experiences that create a sense of adventure, thrill, and discovery. Digital technology and social media platforms have made it easier for people to research, plan, and book trips. The availability of online travel agencies, booking platforms, and review sites has empowered travelers. Digital travel increases the accessibility, convenience, and attraction of tourism, which is becoming increasingly popular among tourists looking for adventurous and unique experiences. For instance, in June 2023, according to Adventure Travel Trade Association, a US-based non-profit organization, the trip fill rate averaged 65%, marking a significant 52% increase from the levels observed in 2021. Furthermore, in June 2022, according to reports shared by the US Department of Commerce 2021 Highlights, a US-based executive department of the federal government, international arrivals for travel and tourism in US states increased to 22.1 million in 2021 from 19.2 million in 2020. Therefore, the growing popularity of tourism is driving the growth of the digital travel market.
Revolutionizing Travel Lufthansa's Enhanced Digital Companion App
Major companies in the digital travel market prioritize introducing intelligent and advanced solutions, including digital apps, to enhance user experience and streamline travel processes. Digital apps provide convenient access to information, services, and entertainment, often allowing users to customize their experience based on their preferences and needs. For instance, in February 2023, Lufthansa, a Germany-based airline company, launched a digital travel companion app. This app provides travelers with the latest updates and relevant information while traveling with a redesigned and optimized interface. Additionally, the new software has self-service tools to assist travelers during operational peaks, an easy-to-use digital wallet for seamless payment processing, and an intuitive check-in procedure.
The digital travel market covered in this report is segmented -
1) By Tour Type: Domestic, International
2) By Tourist Type: Independent Traveler, Tour Group, Package Traveler
3) By Age Group: 26-35 Years, 36-45 Years, 46-55 Years
4) By Consumer Orientation: Men, Women
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Major companies operating in the digital travel market are Oracle Corporation, Uber Technologies Inc., TUI Group , Booking Holdings Inc., Expedia Group Inc., Airbnb Inc., Amadeus IT Group SA, Trip.com Group, Sabre Corporation, WEX Inc., American Express Global Business Travel, Tripadvisor Inc., Orbitz , Travelport International Operations Limited, Hopper Inc., Fareportal Inc., Hotels.com, MakeMyTrip Ltd., Hotel Reservation Service, Kayak Inc., Yatra Online Inc., Tavisca Solutions Pvt. Ltd., Thomas Cook India Ltd., Hurb Co S/A, SABS Travel Technologies
Contents of the report:
1. Executive Summary
2. Digital Travel Market Report Structure
3. Digital Travel Market Trends And Strategies
4. Digital Travel Market - Macro Economic Scenario
5. Digital Travel Market Size And Growth
…..
27. Digital Travel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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