Sat. Sep 21st, 2019

Explore Growth Opportunities in Online Travel Market by Top Prominent Players like Expedia, Trivago, Make My Trip, Trivago, Trip Advisor, Orbitz and CheapTickets, Priceline Group (Booking.com), Hotel Urbano Travel, Tourism, CheapOair

The global online travel market is expected to grow at a CAGR of approximately +12% during the forecast period 2018-2023.

The growing online travel market could also be shaped by the growing trend of travel service sellers reaching out directly to customers, leading to traditional travel agencies having to branch out in other areas. Online travel providers aim to ease travel planning and bookings for travelers. The online travel is driven by quick and convenient flight and hotel bookings, a rise in customers’ trust in online payment, and the ability to compare various available travel options.

Nowadays, market players are extensively offering travel services through mobile websites and apps, as it is one of the most preferred mediums of travel bookings, particularly among young professionals.

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Top Key Players of Online Travel Market:

Expedia, Priceline Group (Booking.com), TripAdvisor, Orbitz, Ctrip.com International, Hostelworld Group, Hotel Urbano Travel, Tourism, CheapOair, Trivago, Thomas Cook Group, MakeMyTrip, CheapTickets, OneTravel, Travelocity, AirGorilla, Hotwire, Kayak, BOD Tech.

The different service types include transportation, travel accommodation, and vacation packages. Key age groups of the market are 22-31, 32-43, 44-56, and >56. The market is further analyzed across geographical regions, namely, North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Online Travel Market Segmentation:

By mode of booking: Online Travel Agencies, Direct Travel Suppliers

By types of platform: Mobile, Desktop

By service types: Transportation, Travel Accommodation, and Vacation Packages

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The growth of the online travel market is driven by the increase in internet penetration, the rise in disposable income of people in emerging markets, and the ease of comparing a variety of travel options online. Market players are introducing innovative travel and vacation package deals to assist travelers in making sound travel decisions as per their spending capability, such as affordable packages for an international destination, discounts on car rentals and cash back on international flights.

The purpose of this research study is to give an in-depth analysis of various market segments. Researchers throw light on different dynamic aspects of the market such as drivers and restraints. The rising needs and popularity of the travel and tourism sector are increasing the demand of the global online travel market.

Key questions answered through this research report:

  • What are the threats and challenges in front of the businesses?
  • What is the global market size in the forecast period?
  • Who are the highest competitors in the global online travel market?
  • Which factors are responsible for driving the global market?

Report Consultant concluded with, effective, innovative and accurate insights into the global market by offering the perfect solution for the global market. Different market segments have been examined carefully to understand the ups-down stages of the businesses.

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