Overview
The online travel market
is anticipated to grow by US$1,134.55 billion by 2023 rapidly growing at a CAGR
of 13.16% during the forecast period. The global online travel market is driven
by increasing use of technology in the travel industry and rising penetration
of the Internet. These factors have helped shape the online travel market and
are expected to boost the growth. Companies in the online travel market could
also face challenges such as lack of a centralized system and growing number of
online frauds and travel scams. The details covered in the online
travel market report cover all the aspects of the industry. Online
travel market analysts have also shared growth projections in the report and
have suggested online travel market players to plan growth strategies
accordingly.
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Market Segmentation
The global online travel
market has been segmented based on platform type, booking, and service type. On
the basis of platform, the market for online travel is segmented based on
desktop-based platform and mobile/tablets based platform. Additionally, the
market on the basis of booking, is segmented into direct facilitators and
online agencies. The global market for online travel is also covered based on
service type segment which is further split into accommodation (hotels and
guest house/dormitory), transportation (air travel, train travel, bus travel
and others), and vacation packages (in-country and outside country).
Factors like increasing
demand for CRM solutions and adoption of digitalization and automation and
seamless integration of all travel needs in a single platform support the
online travel market growth. The performance of the online travel market has
also been studied for the past and current years. Additionally, the online
travel market report provides analysis of these segments. The online travel
market segmental analysis provided in the report offers major details about the
online travel market performance and future.
Regional Overview
Companies in the online
travel market are spread across the world. The online travel market report
provides major information about regional markets of North America, Europe,
Asia-Pacific (APAC), and the rest of the world. The North American online
travel market has many companies across the United States, Canada, and Mexico.
Europe has companies in the online travel market across Germany, France, Spain,
Italy, and the United Kingdom. A detailed analysis of the online travel market
across India, China, and Japan in the Asia-Pacific region is also presented in
the report. The online travel market of the Middle East, Africa, and other
regions has also been studied by analysts. The regional analysis of the online
travel market can be found in the market research report.
Competitive Landscape
The online travel market
is supported by the growing number of market players who turned into
aggregators. The population growth around the world and increasing demand of
online travel market based services and products also support the market
growth. However, the online travel market growth can be affected due to low
margin on travel deals due to growing market rivalry. The report covers all
such details which will help companies in the online travel market to
strengthen their business plan and improve their product portfolio. The online
travel market research report also provides company profiles of major
companies. The company profile of organizations operating in the online travel market
discusses strategies, growth plans, size, revenue, and mergers and acquisition
details of top companies in the online travel market. New entrants and
established players can plan their strategies based on this data provided in
the online travel market research report.
Industry News
Traveloka, the largest
Online Travel application in Southeast Asia, said it planned to be made public
early on Monday. It evaluated a merger with SPAC as a potential stock listing
alternative. The subsequent merger with the target business, frequently a
starter in a high-crowd field, provides a quicker and cost-effective path to
the market than a typical IPO.
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Online Travel Market Research Report:
Information by Technology (Hall Effect, Magneto Resistive, Variable
Reluctance), By Application (Automotive, Industrial, Aerospace & Defense,
Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle
East & Africa, and South America)—Forecast till 2030
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