Pune, India -- (SBWIRE) -- 01/23/2020 -- Online travel has become a very popular trend today. Companies allow consumers to book various travel related services online through their websites directly by the use of the internet. A recently published report by Infinium Global Research predicts growth for the Online Travel Market at a CAGR of 11.78% over the period of 2019-2025. The online agencies provide reselling trips, hotels, cars, flights, vacation packages, etc.

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Increase in Penetration of Mobile Phones Drive Growth for Online Travel Market

With 194 billion apps downloaded in 2018, over 2.7 billion people use smartphones in the world, and over 2.87 billion people might be active smartphone users in 2020. The growing use of mobile phones and the availability of high-speed internet dominates growth for the online travel market. In 2018, approximately 1.56 billion smartphones were sold worldwide. Easy accessibility to book hotels, flight tickets according to the customer's convenience boost growth for the online travel market. Moreover, various social media platforms and impactful marketing skills of travel influencers and celebrities endorsing online travel sites fuel growth opportunities for the online travel market.

Mobile/Tablets Segment Dominates Growth for Global Online Travel Industry

According to the analyst at Infinium Global Research, the scope of the market is analyzed on the basis of platform type, mode of booking, and services type. Based on the platform type of Online Travel, the study includes a personal computer and mobile/tablets. The mode of booking of Online Travel includes direct agency, and online. Based on the type of services, the market includes vacation packages, transportation, and accommodation.

The mobile/tablets segment is expected to hold a dominant share in the global online travel market. The two-seventh of the market revenue is attributed to mobile phones which are projected to grow over the forecast period. Hence, surging penetration of smartphones and growing safety measures in online transactions boost growth for the segment in the global online travel market.

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North America is Anticipated to Sustain as the Highest Grossing Region in the Next Six Years

The report provides an in-depth analysis of the geographies such as North America, Asia-Pacific, Europe and the rest of the world. Geographically, the North America region dominates the global online travel market. With easy access to the internet and about 77% of the population using smartphones, the market for online travel is at the highest peak for the North America region. Their CRM (Customer Relation Management) solutions to manage their relationships and interactions with the customer's fuel growth for the online travel market. Europe shows steady growth in the global online travel market, owing to the rising adoption of new technologies in the region. Furthermore, Asia-Pacific projects surging growth in the global online travel market. Growing developments in technology and rising innovative travel and vacation packages fuel the market growth of online travel.

Major Market Players in the Global Online Travel Market

The leading market players profiled in the report include eDreams Odigeo SA, Expedia Group, Ctrip.com International, Ltd, Priceline Group Inc., Hotel Urbano, TripAdvisor LLC., Trivago N.V., Thomas Cook Group Plc, MakeMyTrip Limited, and Hostelworld Group.

9% Adjusted Progress Projected by eDreams Odiigeo SA in the First Six Months

In November 2019, eDreams Odigeo SA reported their results for the 9% adjusted EBITDA progress they made in the first six months. The booking grew +2% year-on-year in the second quarter and it reached 5.8 million in the first half of the economic year of 2020. The revenue margin shot up by +5% year-on-year to €281.2 million owing to the growth in the revenue margin per booking of +6%.

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"We are pleased to report a solid set of results, in line with our guidance. We continue to make progress building on our strengths to deliver compelling value for our customers, our business and our shareholders. Our strategy is reaping rewards as we strengthen an efficient, predictable and diversified business model that generates strong EBITDA and free cash flow, to be reinvested in long-term sustainable growth supported by a strong balance sheet. Also, our unique and revolutionary subscription-based membership program, 'Prime', is proving very successful and is growing rapidly with now over 450,000 members across our four largest markets." said Dana Dunne, CEO, eDreams Odigeo.

About Infinium Global Research
Infinium Global Research provides in-depth insight regarding the market, its trends, indicators, and factors that drive and restrain the growth of the market. IGR expertise in the analysis of the market growth using analytical tools, that were also used to analyze the market for the online travel market. Other than consumer goods and packaging, IGR also deals in the field of agriculture, industry automation, aerospace and defense, chemical and materials, healthcare and medical devices, food and beverage, automotive, energy, infrastructure and mining and electronics and ICT, semiconductors.