Industry Report “Online Travel Market” provides a clear picture of the Current Market Scenario which includes past and estimated future size with respect to value and volume, technological advancement, macro economical and governing factors in the Online Travel market.
The online travel market is gaining popularity due to the increasing popularity of the internet among the user and an increasing number of smartphones. Online travel agencies allow customers to book flights, hotels, and other travel related services through websites and mobile apps. The online travel market is a highly competitive market with the presence of a large number of players in the market, and due to low entry barriers new players are emerging, and this factor is intensifying the competition in the online travel market. The Asia-Pacific region is expected to grow significantly in the forecast period which might create opportunities for the companies operating in this market to generate more revenues.
An increasing number of travelers, growing disposable incomes, and the increasing popularity of online travel apps are the major factors that are supporting the growth of the online travel market. However, an increasing number of cyber-attacks and growing privacy concerns are the major restraining factors for the online travel market. The players offering in the online travel market are focusing on offering heavy discounts on the travel packages to attract more customers which is creating pricing pressure on other companies in the market.
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The reports cover key developments in the Online Travel market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Online Travel market are anticipated to lucrative growth opportunities in the future with the rising demand for Online Travel market in the global market.
Key Players Influencing the Market
- Airbnb Inc.
- EXPEDIA GROUP
- FAREPORTAL INC.
- Hostelworld Group
- Makemytrip Limited
- Com LLC
- Thomas Cook Group PLC
- Tripadvisor Inc.
- Trivago GmbH
- TUI Group
The “Global Online Travel Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of Online Travel market with detailed market segmentation by component, deployment type, industry vertical, and geography. The global Online Travel market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Online Travel market players and offers key trends and opportunities in the market.
The global online travel market is segmented on the basis of offering booking mode, and platform. Based on offering, the market is segmented as travel, accommodation, and tours and package. On the basis of booking mode the market is segmented as direct and travel agencies. Based on the platform the market is segmented into desktop applications and mobile applications.
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Besides this, the report analyzes factors affecting Online Travel market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global Online Travel Market report.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Online Travel market based on the type and application. It also provides market size and forecast till 2027 for overall Online Travel market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
Answers that the report acknowledges:
- Market size and growth rate during forecast period.
- Key factors driving the Online Travel Market.
- Key market trends cracking up the growth of the Online Travel Market.
- Challenges to market growth.
- Key vendors of Online Travel Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global Online Travel Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
- PEST analysis of the market in the five major regions.
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