Press release
Rising Demand For Adventure And Experiential Travel Fuels Growth In Travel Agency Services Market: A Key Driver Powering Travel Agency Services Market Growth In 2025
Travel Agency Services
What Is the Current Travel Agency Services Market Size and Its Estimated Growth Rate?
The travel agency services market has grown significantly in recent years. It will increase from $430.97 billion in 2024 to $465.81 billion in 2025 at a CAGR of 8.1%. The historical growth is attributed to the rise of online travel agencies, higher disposable income, easier global travel, advancements in transportation, the growth of the middle class, and greater marketing and advertising efforts.
The travel agency services market is projected to grow robustly, reaching $626.53 billion by 2029, with a CAGR of 7.7%. The growth is driven by the increasing use of digital platforms, rising demand for personalized travel experiences, growth in mobile app bookings, higher customer service expectations, the expansion of niche travel markets, and the growth of the business travel sector. Trends include personalized travel experiences, adventure tourism, sustainable travel, technology and AI adoption, mobile app bookings, an emphasis on customer service, and social media marketing.
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How Are Emerging Segments Shaping the Travel Agency Services Market Landscape?
The travel agency services market covered in this report is segmented -
1) By Services: Full Service Global Travel Arrangements, Additional Travel Services
2) By Tourist Type: Domestic, International
3) By Booking Channel: Phone Booking, Online Booking, In Person Booking
4) By Tour Type: Independent Traveler, Package Traveler, Tour Group
5) By Age Group: 15 To 25 Years, 26 To 35 Years, 36 To 45 Years, 46 To 55 Years, 66 To 75 Years
Subsegments:
1) By Full Service Global Travel Arrangements: Flight Booking And Ticketing, Hotel And Accommodation Booking, Car Rentals And Transportation Services, Vacation Packages (Customized And Pre-Packaged), Group And Corporate Travel Arrangements, Itinerary Planning And Consultation, Travel Insurance Services, Visa And Passport Assistance
2) By Additional Travel Services: Activity And Excursion Booking, Cruise And Tour Bookings, Travel Concierge Services, Airport Transfers And Shuttle Services, Travel Accessories And Equipment Rental (Mobile Hotspots, Guides), Currency Exchange And Forex Services, Event And Conference Planning: Travel Advice And Local Insights
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Which Growth Factors Are Influencing Travel Agency Services Market Expansion?
The growing interest in adventure and experiential travel is expected to propel the growth of the travel agency services market. As more travelers seek unique and personalized experiences, adventure travel agencies are seeing increased demand for tailored itineraries and immersive activities. According to the Adventure Travel Trade Association, the number of travelers served by adventure travel operators rose by 54% in 2023 compared to 2022, driving the growth of travel agency services.
Who Are the Dominant Players Across Different Travel Agency Services Market Segments?
Major companies operating in the travel agency services market are TUI Group, Booking Holdings Inc, Expedia Group Inc, CWT Global BV, BCD Travel Services BV, Egencia LLC, American Express Global Business Travel, HIS Co Ltd, Flight Centre Travel Group Ltd, TripAdvisor Inc, Frosch International Travel Inc, World Travel Inc, Corporate Travel Management Limited, The Priceline Group Inc, Direct Travel Inc, Kuoni Travel Holding Ltd, MakeMyTrip Limited, Kesari Tours Pvt. Ltd., Wing On Travel Service Limited, Tzell Travel Group LLC, Omega World Travel Inc, Fox World Travel Inc, Travel Leaders Group LLC, Yatra Online Inc, Thomas Cook Group plc, JTB Corporation, Liberty Travel Inc
What Are the Latest Developing Trends in the Travel Agency Services Market?
In the travel agency services market, companies are focusing on adopting artificial intelligence and machine learning to enhance the booking experience. AI-powered search tools help travel agencies deliver faster and more accurate search results, improving efficiency. For example, in July 2024, Travelport, a UK-based travel platform, introduced the Content Curation Layer (CCL) on the Travelport+ platform. This AI and machine learning tool delivers accurate search results quickly, helping travel agencies present a wide range of options to travelers.
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Which Geographic Regions Are Expected to Dominate the Travel Agency Services Market in the Coming Years?
North America was the largest region in the travel agency services market in 2024. The regions covered in the travel agency services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Travel Agency Services Market?
2. What is the CAGR expected in the Travel Agency Services Market?
3. What Are the Key Innovations Transforming the Travel Agency Services Industry?
4. Which Region Is Leading the Travel Agency Services Market?
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