Online Travel Booking Market to reach USD 1178.641 Bn at a CAGR of 9.7 percent by 2030 Says Maximize Market Research
Maximize Market Research, a leading Information Technology and Telecommunication business consultancy and research firm has published a report on the “Online Travel Booking Market”. The total market opportunity for Online Travel Booking Market was USD 616.503 Bn in 2023 and is expected to grow at a CAGR of 9.7 percent in the forecast period, reaching USD 1178.641 Bn by 2030. As per the report, the global Online Travel Booking Market is expected to be dominated by the Asia Pacific and European regions to grow at a significant growth rate through the forecast period.
Online Travel Booking Market Report Scope and Research Methodology
Market Size in 2023: USD 616.503 Billion
Market Size in 2030: USD 1178.641 Billion
CAGR: 9.7 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 227
No. of Tables: 133
No. of Charts and Figures: 187
Segment Covered: By Device Outlook, Booking Method, and Service Type.
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
Online Travel Booking Market Scope and Research Methodology
The report has covered aspects that include the Online Travel Booking Market analysis which thoroughly analyses the market structure and competitive landscape using a bottom-up approach to calculate the industry’s size and growth. The research focuses on finding the factors that influence the consumers choice while booking, with the help of secondary research. Major findings include drivers of market growth at regional and global levels, barriers to future growth, and potential opportunities arising from technological advancements. Regional analysis is conducted to provide insights into market leaders, penetration, and demographic influences on the industry. The market is segmented into device outlook and booking methods, allowing for a deeper understanding of target markets, service providers, and the development of innovative advertising campaigns. A competitive matrix is created to analyze the competition in the Online Travel Booking Market, including both market leaders and new entrants. The report provides a summary of each company with key points on revenue, financial status, technology progress, recent changes, mergers, partnerships, collaborations, and marketing strategies.
Online Travel Booking Market Overview
Online travel booking services provide a range of services, for booking accomodations, transportation, sightseeing, and car rentals. These travel booking platforms features customer reviews of travel service providers along with information about their offerings. Today the sectors that heavily rely on booking system include taxis, hotels, motels, airlines and customized travel packages. The industry is growing because of the array of booking platforms including those, for event reservations. An internet system is a crucial tool for travel agencies. It gives a platform to travel agencies, which provide travel portals and websites with a consolidated search. The quick changes in online travel booking induistry, which are beneficial and convenient to customers influencing the growth of the market.
Online Travel Booking Market Dynamics
The market is experiencing growth because of consumers spending behaviour and consumers preference toward booking their tours online. Companies are taking steps like using social media ads and online campaigns to attract customers and encourage them to book through online booking platforms, which is propelling the growth of the market. Easy access to internet and smartphone penetration and heavy social; media by consumer’s gives online travel booking platforms an opportunity to influence the consumers. Dynamic pricing on online travel booking platforms plays a crucial role for attracting the consumers, which is contributing in the growth of the industry.
Online Travel Booking Market Regional Insights
Asia Pacific dominated the Online Travel Booking Market and is expected to continue its dominance with an increasing CAGR through the forecast period. The growth in the region is driven by rising purchasing power and consumers preference towards online. Additionally economic progress, convenience in online booking and increased competition are fuelling the market growth in the region. Population in the region also plays an important role in the growth of market.
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Online Travel Booking Market Segmentation
By Device Outlook:
- Desktop
- Mobile
By Device outlook, the Online Travel Booking Market is divided into Deskto and Mobile. The mobile segment is expected to dominate the Online Travel Booking market with the highest market share in forecasted period. The segment is driven by the rising usage and penetration of mobile devices and easy access to internet. The increasing number of young and working population prefer to book through online booking platforms available on mobile devices which propels the segment growth.
By Booking Method:
- Online Booking
- Direct Travel Agency
By Service Type:
- Vacation Packages
- Accomodation Booking
- Transportation Booking
- Others
Online Travel Booking Market Key Competitors include:
North America
- Expedia Group, Inc. (US)
- Booking Holdings Inc. (US)
- Tripadvisor, Inc. (US)
- com (US)
- .2FN Travel (US)
- com, Inc (US)
Europe
- Q Travel Cloud (UK)
- com Group (Switzerland)
- com (Netherlands)
Asia Pacific
- Ixigo-Le Travenues Technology Ltd (India)
- MAKEMYTRIP PVT. LTD. (India
- Yatra Online Limited (India)
- EaseMyTrip (India)
- Thomas Cook Ltd. (India)
- Faresdaddy (India)
- Apricot Tours (pakistan)
- com Group Limited (China)
- Agoda (Singapore)
- com china
- com (Nepal)
- KoreaTravelEasy (South Korea)
- Traveloka (Indonesia)
Key questions answered in the Online Travel Booking Market are:
- Who are the key players in the Online Travel Booking Market?
- What are the growth prospects in developing countries for the Online Travel Booking Market?
- Which segment is expected to witness the fastest growth and why in the Online Travel Booking Market?
- What is the current growth rate of the Online Travel Booking Market?
- What are the factors affecting growth in the Online Travel Booking Market?
- Who held the largest market share in the Online Travel Booking Market?
- What are the strategies used by competitors in the Online Travel Booking Market?
- What are the opportunities for the Online Travel Booking Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segments | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Component, Deployment Mode, Organization Size and Industry and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Information Technology and Telecommunication research firm, has also published the following reports:
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical Components and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, Production and demand analysis, and client impact studies.
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