Online Travel Market Research Report by Forecast to 2023
Pune, India -- (SBWIRE) -- 01/17/2018 -- Market Highlights: The global online travel market is projected to witness a rapid growth during the forecast period owing to increasing emergence of cloud-based technologies and increasing adoption of the internet of things. Moreover, increasing demand for online travel services across various end users such as corporate travel and individual travelers is driving the growth of the global online travel market.
The global online travel market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North American market is expected to witness a significant growth and hold the largest share of the global market during the forecast period.
Due to the sustainable and well-established economies in the region, the market is likely to show an immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. The growth in the market is also attributed to increasing focus on business organizations towards digital marketing and growing adoption of online travel services by large enterprises for the corporate travel packages. In the global Online Travel Market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing focus on customer engagement and increasing implementation of cloud-based technologies across different countries in the region. Also, Asia Pacific is considered to be the most lucrative market for the growth of online travel market.
The global online travel market is projected to reach USD 1.2 billion at a CAGR of over 12% by the end of the forecast period 2017-2023.
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Major Key Players:
- Expedia, Inc. (U.S.)
- The Priceline Group (U.S.)
- TripAdvisor Inc. (U.S.)
- Ctrip (China)
- Hostelworld Group (Republic of Ireland)
- Hotel Urbano (Brazil)
- CheapOair (U.S.)
- Trivago (Germany)
- Thomas Cook Group plc (U.k)
- MakeMytrip Inc. (India)
- Alibaba Group Holding Limited (China)
- eLong (China)
- TUI Group (Germany)
- Tuniu (China)
- AirGorilla, LLC (U.S.)
- Hays Travel limited (U.k)
- Airbnb (U.S.)
- Yatra.com (India)
Online Travel Market Segmentation:
The global online travel market is segmented by platform, mode of booking, and service type. Based on the platform, the market is segmented into mobile and desktop. Based on the mode of booking, the market is segmented into online travel agencies and direct travel supplies. Whereas, based on the service type, the market is segmented into transportation, accommodation, vacation packages, and others.
Market Research Analysis:
North America is estimated to account for the largest share of the global market, whereas European market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for CRM solutions across different industry verticals in this region. The U.S. holds the majority of market share both in terms of revenue as well as the growing adoption of smartphones.
The global online travel market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of market in North America is attributed to the technological advancements and increased adoption of e-commerce applications across various industry verticals.
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Regulatory agencies
- Corporate sector
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
List of Tables
Table 1 Global Online Travel Market: By Region, 2017-2023
Table 2 North America Online Travel Market: By Country, 2017-2023
Table 3 Europe Online Travel Market: By Country, 2017-2023
List of Figures
Figure 1 Global Online Travel Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Five Forces Analysis of Global Online Travel Market
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