Press release
Online Travel Market is Poised to Grow a Robust CAGR of 9.1% by 2032 | Airbnb, Booking Holdings, Ctrip, Expedia Group, GetYourGuide
Online Travel Market
Online Travel Market Size Was Valued at USD 0.9 Billion in 2023, and is Projected to Reach USD 1.97 Billion by 2032, Growing at a CAGR of 9.1% From 2024-2032.
The online travel market refers to the use of internet-based platforms and technology-driven tools by consumers to plan and book travel-related services such as transportation, accommodation, activities, and experiences. This expansive market includes Online Travel Agencies (OTAs), travel apps, airline and hotel websites, car rental services, and destination-specific providers. It streamlines the travel planning process, offering convenience, price comparisons, and a diverse range of options empowering consumers to curate personalised travel experiences while enabling service providers to expand their reach and enhance customer engagement.
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Some of the Top Leading Key Players:
• Airbnb (United States)
• Booking Holdings (United States)
• Ctrip (China)
• Expedia Group (United States)
• GetYourGuide (Germany)
• Hopper (United States)
• Kayak (United States)
• Makemytrip (India)
• OYO Rooms (India)
• Priceline (United States)
• Rakuten Travel (Japan)
• Thomas Cook (United Kingdom)
• Trip.com (China)
• TripAdvisor (United States)
• Trivago (Germany), and Other Active Players
Online Travel Market Trend Analysis
A key emerging trend in the online travel market is the integration of artificial intelligence (AI) and machine learning (ML) to offer highly personalized travel experiences. Modern travellers expect tailored recommendations for flights, accommodations, attractions, and events driven by their preferences, past bookings, and even real-time location. This technology empowers travel companies to deliver the right offer at the right time to the right customer, enhancing user satisfaction and engagement while fostering bespoke, seamless travel planning experiences.
Segmentation Analysis of the Online Travel Market
By Service Type
• Online Travel Agencies (OTAs)
• Direct Travel Suppliers
• Meta Search Websites
By Platform Type
• Web-Based
• Mobile-Based
By Application
• International Booking
• Domestic Booking
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Regional Analysis
North America is Expected to Dominate the Market Over the Forecast period
Geographically, the distinctive analysis of consumption, revenue, market share, and growth rate of the subsequent areas:
• North America (U.S., Canada, Mexico)
• Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
• Middle East & Africa (Türkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
Key Industry Developments in the Online Travel Market:
In May 2024, the travel group booking startup Joyned introduced an AI-powered planner that allows users to exchange data while giving vendors a better understanding of consumer preferences.
In May 2024, the Singapore Tourism Board rolled out a new marketing campaign to promote online travel services and digital tourism content, aiming to attract tourists from nearby countries. The initiative resulted in a 20% increase in tourist arrivals and a boost in local bookings on travel websites.
Global Market 2024 Key Insights:
◉ The research study analyses the current status of the Online Travel Market and provides future forecasts related to production, price structure, consumption, and historical data.
◉ The report comprehends the structure of the Online Travel Market industry by identifying its various segments and sub-segments.
◉ The market analysis breaks down data by company, products, end-users, and key countries, encompassing historical data from 2017 to 2023 and forecasting until 2032.
◉ The analysis of the Online Travel Market focuses on individual growth trends, future prospects, and their overall contribution to the market.
◉ The Global Online Travel Market 2024 report evaluates competitive expansions such as agreements, new product launches, and acquisitions within the market.
◉ The research report targets key international players in the Online Travel Market to assess sales volume, revenue, growth potential, drivers, SWOT analysis, and development plans for the coming years.
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COMPANY PROFILES AND COMPETITIVE ANALYSIS
➤ COMPETITIVE LANDSCAPE
• Competitive Positioning
• Online Travel Market Share by Manufacturer (2024)
• Industry BCG Matrix
• Mergers & Acquisitions
➤ COMPANY PROFILE SECTION INCLUDES:
• Company Overview
• Key Executives
• Company Snapshot
• Role of the Company in the Market
• Sustainability and Social Responsibility
• Operating Business Segments
• Product Portfolio
• Business Performance
• Key Strategic Moves and Recent Developments
• SWOT Analysis
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Vishwanath K (PR & Marketing Manager)
Introspective Market Research Private Limited
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About us:
At Introspective Market Research Private Limited, we are a forward-thinking research consulting firm committed to driving our clients' growth and market dominance. Leveraging cutting-edge technology, big data, and advanced analytics, we provide deep insights and strategic solutions that enable our clients to stay ahead in a competitive landscape. Our expertise spans across comprehensive Market Research Reports, Holistic Market Insights, Macro-Economic Analysis, and tailored Go-to-Market (GTM) Strategies. Through our Consulting Services and AI-Driven Solutions, we empower businesses to navigate challenges and achieve their objectives. Additionally, we offer Product Design and Prototyping support and Flexible Staffing Solutions to meet evolving industry demands. Our IMR Knowledge Cluster ensures continuous learning and innovation, guiding our clients toward sustainable success.
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