Press release
Internet Usage and Smartphone Penetration's Impact on Online Travel Booking Platforms Emerges as a Core Driver of the Online Travel Booking Platform Market in 2025
Online Travel Booking Platform
_x000D_
What Is the Expected CAGR for the Online Travel Booking Platform Market Through 2025?_x000D_
There has been a quick expansion in the market size of the online travel booking platform in previous years. The market is projected to rise from $576.42 billion in 2024 to $641.07 billion in 2025, with a compound annual growth rate (CAGR) of 11.2%. The growth experienced during the historic period can be linked to the increment in internet use and the rise of smartphone usage, continuous expansion of the travel industry, the necessity and want for travel, the prevalence of various travel media alternatives, and the ease of booking._x000D_
_x000D_
What's the Projected Size of the Global Online Travel Booking Platform Market by 2029?_x000D_
Strong expansion is anticipated in the online travel booking platform market over the coming years. The market is projected to inflate to $919.05 billion by 2029, with a compound annual growth rate (CAGR) nearing 9.4%. The spurt in growth during the forecast period can be attributed to factors such as the merging of online travel agencies, escalating demand for tailor-made multigenerational travels, increasing uptake of smartphones and multiple travel apps, and intensifying competition with offline travel agencies. Key trends expected in the forecast period involve the elaboration of new business models and revenue channels, adherence to sustainable travel and environment-friendly activities, the implementation of blockchain technology for improved security, as well as a mounting demand for customized multigenerational travels._x000D_
_x000D_
View the full report here:_x000D_
https://www.thebusinessresearchcompany.com/report/online-travel-booking-platform-global-market-report_x000D_
_x000D_
Top Growth Drivers in the Online Travel Booking Platform Industry: What's Accelerating the Market?_x000D_
The rise in internet usage paired with the surge in smartphone use is likely to fuel the expansion of the online travel booking platform market. Internet usage is defined as how individuals or communities use the internet for various functions, including information retrieval, communication, transactions, entertainment, and more. Smartphone penetration refers to the proportion of the population, or a particular demographic group, that own and utilize smartphones. The rising internet usage and smartphone penetration are motivated by factors such as technological advancements, enhanced affordability of devices and data packages, and the growth of mobile network infrastructure. Online travel booking platforms can be easily accessed through smartphones and internet usage, offering benefits such as convenience, time savings, real-time information, cost savings, access to deals, and a worldwide reach. Combined, these advantages improve efficiency and the overall experience of planning and booking travel. For instance, the National Telecommunications and Information Administration, a US-based government agency of the communication industry, indicated an addition of 13 million internet users in the U.S. from 2021 to 2023 in June 2024, pointing to the increasing availability and reach of online connectivity. Consequently, an increase in internet usage and smartphone penetration propels the online travel booking platform market._x000D_
_x000D_
Get your free sample here:_x000D_
https://www.thebusinessresearchcompany.com/sample.aspx?id=14151&type=smp_x000D_
_x000D_
What Trends Will Shape the Online Travel Booking Platform Market Through 2029 and Beyond?_x000D_
Prominent businesses in the online travel booking platform industry are concentrating on technological enhancements like Lodging AI and ML in order to meet the surging demand. Lodging AI, a novel feature, employs Travel AI machine-learning models, analyzing various factors such as property characteristics, customer travel segmentation, and preferences of travelers and agencies to produce bespoke lodging solutions. This use of Lodging AI in online travel booking platforms boosts customization and efficiency for both travel agencies and travelers. For example, in August 2023, Sabre Corporation, a travel management firm based in the US, rolled out Lodging AI, which aids travel agencies in enhancing hotel attachment rates. This subsequently creates additional revenue possibilities and offers travelers more tailored lodging options. These machine learning models of this new lodging function examine property features, customer travel segmentation, and traveler and agency inclinations to generate personalized lodging solutions and suggest properties that have a high likelihood of being booked._x000D_
_x000D_
What Are the Main Segments in the Online Travel Booking Platform Market?_x000D_
The online travel booking platformmarket covered in this report is segmented -_x000D_
_x000D_
1) By Type: Packages Types, Direct Type_x000D_
2) By Service Type: Vacation Packages, Accommodation Booking, Transportation Booking, Other Service Types_x000D_
3) By Application: Desktop Or Laptop, Mobile Or Tablet_x000D_
_x000D_
Subsegments:_x000D_
1) By Packages Types: Vacation Packages, Last-Minute Packages, All-Inclusive Packages_x000D_
2) By Direct Type: Direct Flight Bookings, Hotel Reservations, Car Rentals_x000D_
_x000D_
Tailor your insights and customize the full report here:_x000D_
https://www.thebusinessresearchcompany.com/customise?id=14151&type=smp_x000D_
_x000D_
Which Top Companies are Driving Growth in the Online Travel Booking Platform Market?_x000D_
Major companies operating in the online travel booking platform market are Booking Holdings Inc., Expedia Inc., Airbnb Inc., Anywhere Inc., Trip.com Travel Singapore Pte. Ltd., TripAdvisor LLC, Corporate Travel Management Ltd., Hopper Inc., Fareportal Inc., Lastminute.com NV, MakeMyTrip Ltd., Happyeasygo India Private Limited, BlueStar Air Travel Services Pvt. Ltd., Yatra Online Inc., Thomas Cook Group plc, 2FN Travel Inc., Dcsplus.net, Tavisca Solutions Private Limited, GTi Travel Group, OTRAMS, DirectVision SRL, Airtkt.Com Inc., Lemax GmbH, Apricot Tours, CorporateFlights.com, Fares Daddy Private Limited, HolidayPasal.com, SutiTravel, eDreams International Network S.L._x000D_
_x000D_
Which Regions Will Dominate the Online Travel Booking Platform Market Through 2029?_x000D_
North America was the largest region in the online travel booking platform market in 2024. The regions covered in the online travel booking platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
_x000D_
Purchase the full report today:_x000D_
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14151_x000D_
_x000D_
This Report Supports:_x000D_
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions._x000D_
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning._x000D_
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks._x000D_
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work._x000D_
_x000D_
Learn More About The Business Research Company_x000D_
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead._x000D_
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making._x000D_
_x000D_
Reach out to us:_x000D_
The Business Research Company: https://www.thebusinessresearchcompany.com/_x000D_
Americas +1 310-496-7795_x000D_
Europe +44 7882 955267_x000D_
Asia & Others +44 7882 955267 & +91 8897263534_x000D_
Email us at info@tbrc.info_x000D_
_x000D_
Follow Us On:_x000D_
LinkedIn: https://in.linkedin.com/company/the-business-research-company _x000D_
Twitter: https://twitter.com/tbrc_info _x000D_
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Internet Usage and Smartphone Penetration's Impact on Online Travel Booking Platforms Emerges as a Core Driver of the Online Travel Booking Platform Market in 2025 here
News-ID: 4239545 • Views: …
More Releases from The Business Research Company
Global Reinforcement Learning Market Projected to Grow at 28.2% CAGR, Reaching $ …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts._x000D_
_x000D_
Reinforcement Learning Market Size Growth Forecast: What to Expect by 2025?_x000D_
In the past few years, the reinforcement learning market size has seen an exponential increase. The market is projected to expand from $10.49 billion in 2024 to $13.43 billion in 2025, with a compound annual growth rate (CAGR)…
Surging Data Breach Concerns Fuels Growth In The Multi-Cloud Security Market: Th …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Multi-Cloud Security Industry Market Size Be by 2025?
In recent times, the multi-cloud security market size has experienced substantial growth. The market, which is projected to surge from $7.04 billion in 2024 to $8.56 billion in 2025, will have a compound annual growth rate (CAGR) of…
Emerging Trends to Drive Multimodal AI Market Growth at 30.6% CAGR Through 2029
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Multimodal AI Market Size By 2025?
In recent times, the multimodal AI industry has witnessed tremendous growth in size. The market that is predicted to be worth $1.66 billion in 2024, is forecasted to further increase to $2.17 billion in 2025, exhibiting a compound annual…
Global Public Address And Voice Alarm Systems Industry Outlook 2025-2029: Market …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts._x000D_
_x000D_
Public Address And Voice Alarm Systems Market Size Valuation Forecast: What Will the Market Be Worth by 2025?_x000D_
Significant growth has occurred recently in the public address and voice alarm systems market. The market size is projected to rise from $3.99 billion in 2024 to $4.27 billion in 2025,…
More Releases for Travel
Solo Travel Service Market Next Big Thing | Ftlo Travel, Weroad Travel, EL Camin …
The "Solo Travel Service - Market Development Outlook" Study has been added to AMA repository. The study envisage detailed qualitative as well as quantitative market data insights and follows Industry benchmark classification and NAICS standards to build strong players coverage in the study. Some of the major and emerging players identified are Exodus Travel (United Kingdom), G Adventures (Canada), Ftlo Travel (Canada), Weroad Travel (United Kingdom), EL Camino Travel (United…
Honeymoon Travel Market to Witness Remarkable Growth by 2029 | AAA Travel, World …
HTF MI introduces new research on Honeymoon Travel covering the micro level of analysis by competitors and key business segments (2023-2029). The Honeymoon Travel explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Travel Agencies Market Giants Spending Is Going To Boom | Carlson Wagonlit Trave …
Advance Market Analytics published a new research publication on "Global Travel Agencies Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study, you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market-associated stakeholders. The growth of the Travel Agencies market was mainly driven by the increasing R&D spending across the world.
Get Free Exclusive PDF Sample Copy of…
Educational Travel Market to See Competition Rise | STA Travel, Key Travel, Elli …
According to HTF Market Intelligence, the Global Educational Travel market to witness a CAGR of 17.01% during forecast period of 2023-2028. The market is segmented by Global Educational Travel Market Breakdown by Application (Primary School Students, Middle & High School Students, College Students) by Type (Below 3 Days, 3 to 7 Days, Above 7 Days) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Educational Travel market…
Excellent Growth of Business Travel Management Service Market Key Players- Carls …
“Business Travel Management Service Industry 2020 Market Research Report” A new report added by reportsandmarkets.com to its research database. Business Travel Management Service Market is segmented by Regions/Countries. All the key market aspects that influence the Business Travel Management Service market presently and will have an impact on it have been evaluated and propounded in the Business Travel Management Service market research status and development trends reviewed in the new…
Honeymoon Tourism Market Is Thriving Worldwide : China Travel, HRG North America …
A fresh market research study titled Honeymoon Tourism Market explores several significant facets related to Honeymoon Tourism Market covering industry environment, segmentation analysis, and competitive landscape. Realistic concepts of the market are mentioned in a simple and plain manner in this report. A comprehensive and elaborate primary analysis report highlights numerous facts such as development factors, business enhancement strategies, statistical growth, financial gain or loss to help readers and clients…
