New York, March 13, 2023 /PRNewswire/—— Global Online Travel Booking Platform Market Estimated growth in size $943.6 billion Between 2021 and 2026, according to Technavio.The market is expected to be CAGR of 14.64% during the forecast period. Rising internet and smartphone penetration owing to rapid technological advancements is driving the market. America England, China, Indiaand Japan A free Wi-Fi network is being rolled out. This increases the accessibility of the internet to consumers. Moreover, the introduction of low-cost smartphones has increased the number of online users across the globe. This has increased the demand for a wide range of online services including online travel booking. All these factors contribute to the growth of the market. However, disruptions in travel demand due to issues such as airline pricing, hotel pricing and natural disasters could pose challenges to growth. Further Insights on Market Size (2022-2026)- Request a Sample Report
- Analysis from COVID-19; supply chain disruptions, global trade tensions; and recession risk
- Global Competitiveness and Key Competitor Status
- Market Presence Across Multiple Geographical Footprints – Strong/Active/Niche/Insignificant- Buy the report!
Global Online Travel Booking Platforms Market – Segmentation Assessment
Market Segment Overview
Technavio by type (package and direct), booking platform (mobile/tablet and desktop/laptop) and geographic region (APAC, North America, Europe, South Americaand multilateral environmental agreements).
- The market growth in the packaging segment will be significant during the forecast period. People who travel with their families prefer package tours as they include all the necessary extras. Also, seniors buy packaged plans because the travel agency takes care of the entire itinerary. These factors are driving the growth of this segment.
By Geography, the Global Online Travel Booking Platform Market is segmented into North America, EuropeAsia-Pacific, South Americaand middle East and Africa.The report offers actionable insights and estimates the contribution of all regions to the growth of the global Online Travel Booking Platform market.
- The Asia Pacific region will account for 36% of the market growth during the forecast period.The growth of the regional market is mainly driven by the increasing penetration of smartphones and the rapid penetration of the Internet in China China and India.
Insights into Market Contribution of Various Segments including Country and Region, Forecast Market Size (2022-2026)- Download sample report
Global Online Travel Booking Platform Market – Market Dynamics
Key trends affecting the market
- Increasing adoption of online payment platforms is considered to be a key trend in the market.
- The adoption of online payment options by consumers and businesses has increased significantly over the years.
- Advances in cybersecurity solutions and the growing number of ethical hackers have made online transactions safe and popular.
- Governments around the world are also encouraging online transactions between people.
- Increase in online transactions will positively impact the growth of online travel booking platforms during the forecast period.
Key challenges hindering the growth of the market
- Disruption in travel demand due to various issues will challenge market growth.
- Prices for travel, accommodation and food vary by destination and weather conditions.
- Some customers canceled tickets and other amenities for various reasons, resulting in lost revenue for suppliers.
- In addition, travel restrictions without the knowledge of local governments have caused significant losses to suppliers.
Insights on Market Drivers, Trends and Challenges, and Forecast Period (2022-2026)- Request a sample report!
What are the key figures covered in this Online Travel Booking Platform Market report?
- CAGR of the market during the forecast period
- Details of factors that will drive the growth of the Online Travel Booking Platform Market from 2022 to 2026
- Accurately estimate the market size of online travel booking platforms and their contribution to the parent market
- Accurately predict upcoming trends and changes in consumer behavior
- Growth of the Online Travel Booking Platform Market Industry North America, EuropeAsia-Pacific, South Americaand middle East and Africa
- Comprehensive analysis of the market competitive landscape and detailed information about the vendors
- Comprehensive analysis of factors that will challenge the growth of online travel booking platform market players
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- this vacation rental market Estimated to grow at a CAGR of 8.54%, the market size is expected to increase $84.41 billion Between 2022 and 2027. Growing tourism and growing popularity of short-term rental properties significantly drive market growth, although factors such as risks associated with fraudulent vacation homes, apartments, and homestays may hamper market growth.
Market Scope of Online Travel Booking Platforms
Growth Momentum and CAGR
accelerating at a compound annual growth rate 14.64%
Market Growth 2022-2026
Year-on-year growth (%)
Asia Pacific, North America, Europe, South America and MEA
Execute Market Contribution
Asia Pacific 36%
major consumer countries
US, China, UK, India, Germany, France and Japan
Leading Companies, Competitive Strategies, Consumer Engagement Scope
Main company profile
Airbnb Inc., Booking Holdings Inc., eDreams ODIGEO, Expedia Group Inc., Hostelworld.com Ltd., MakeMyTrip Ltd., Thomas Cook India Ltd., Trip.com Group Ltd., TripAdvisor LLC, and TUI AG
Parent market analysis, market growth drivers and barriers, fast-growing and slow-growing segments analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market status analysis during the forecast period.
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Table of contents:
- market ecosystem
- Value Chain Analysis
- market definition
- Market Segment Analysis
- Market size in 2021
- Market Outlook: Forecast 2021-2026
Five Forces Analysis
- bargaining power of buyers
- Bargaining Power of Suppliers
- Threat of new entrants
- threat of substitutes
- competitive threat
Market Segmentation by Type
- marketing department
- compare by type
- Package – Market size and forecast 2021-2026
- Direct – Market size and forecast 2021-2026
- Market Opportunities by Type
Market Segmentation of Booking Platforms
- marketing department
- Compare by booking platform
- Mobile Phones/Tablets – Market Size and Forecast 2021-2026
- Desktop/Laptop Computers – Market Size and Forecast 2021-2026
- Market Opportunities for Booking Platforms
- geographic segmentation
- geographic comparison
- Asia Pacific – Market Size and Forecast 2021-2026
- North America – Market size and forecast 2021-2026
- Europe – Market size and forecast 2021-2026
- South America – Market size and forecast 2021-2026
- MEA – Market Size and Forecast 2021-2026
- major leading countries
- Market Opportunities by Geography
- market drivers
- market challenge
- market trend
- landscape destruction
- covered suppliers
- Manufacturer’s market positioning
- Book Holding Company
- eDreams ODIGEO Electronic Dreams
- Expedia Group of Companies
- Hostelworld.com Ltd.
- MakeMyTrip Ltd.
- thomas cook india ltd.
- Ctrip Group Co., Ltd.
- TripAdvisor LLC
- You are
- Report scope
- dollar currency exchange rate
- research methodology
- Abbreviation list
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