Press release
Global Online Travel Agent Market: Key Trends, Market Share, Growth Drivers And Forecast For 2025-2034
Online Travel Agent Market
The global online travel agent market reached a value of nearly $907.69 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.04% since 2019. The market is expected to grow from $907.69 billion in 2024 to $1,188.07 billion in 2029 at a rate of 5.53%. The market is then expected to grow at a CAGR of 5.79% from 2029 and reach $1,573.92 billion in 2034.
What strategies are being adopted by key players in the global online travel agent market?
The key players in the market are adopting extensive strategies in the global online travel agent market such as:
• Enhance business operations by developing and launching new products
• Leverage strategic partnerships to build and expand industry expertise
• Strengthen overall capabilities through innovation and collaboration
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To take advantage of opportunities, The Business Research Company suggests that global online travel agent companies enhance offerings:
• OTA platforms are reshaping the personalized travel booking experience
• Travel Leaders Network introduces Internova SNAP to boost travel advisor productivity
• Cutting-edge digital tools are driving transformation in the online travel sector
• Technological innovation is revolutionizing the travel industry landscape
• Growing focus on AI-powered travel assistants to enhance user experiences
• Strategic collaborations are fueling innovation and market growth for online travel agents
What Is Global Online Travel Agent: Market Overview?
An online travel agent (OTA) is an individual or a company that provides a web-based marketplace, which allows consumers to research and book travel products and services, such as hotels, flights, cars, tours and cruises, among other travel-related services, directly with travel suppliers.
The online travel agents deal and sign contracts with companies that provide transportation, travel packages and hotels and other accommodation. The transportation contracts deal with rentals for cars or buses and public transport tickets; the travel packages include package deals and possible discounts on various hotels. Lastly, online travel agents also deal and sign contracts with hotels, motels and other providers to have these hotels, inns and other bed and breakfast providers' listings on their web-based marketplace. Online travel agents do not charge any fee to list offerings on their website
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Who Are The Major Companies Operating In The Global Online Travel Agent Market?
The top ten competitors in the market made up to 6.66% of the total market in 2023. Booking Holdings was the largest competitor with a 2.46% share of the market, followed by:
• Expedia Group
• Airbnb
• Trip.com Group Limited
• Qunar.com
• TripAdvisor
• LVMAMA
• MakeMyTrip Limited
• Despegar
• eDreams Odigeo
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