Online Travel Market Research Report by Forecast to 2023

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Online Travel Market Research Report By Forecast
to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Online Travel Market
The online travel market 2020 could potentially
reach a valuation of USD 1,134.55 billion by
2023, confirms Market Research Future (MRFR).
MRFR also estimates the market progression rate
to be 13.16 between 2018 and 2023 (review
period). We will provide covid-19 impact analysis
with the report. The report offers an in-depth
analysis of the market following the coronavirus
disease outbreak.
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Online Travel Market
Taste the market data and market information
presented through more than 50 market data tables
and figures spread in 100 numbers of pages of the
project report. Avail the in-depth table of
content TOC market synopsis on Internet of
Online Travel Market Forecast To 2023

• The worldwide economic crisis along with the
  downfall in consumer spending post the SARS-CoV-2
  outbreak has emerged as a significant challenge
  for the Online Travel Market intermediaries. The
  massive threat to the lodging and airline
  bookings has pressured travel companies to shut
  down their operations and lay off workforces in a
  space of few months. According to the impact
  analysis on COVID-19, the short term impact on
  the online travel industry has been significantly
  high and can remain in the near future. The
  long-term impact of COVID-19 can lead to
  continuous practice of social-distancing in the
  industry. The same proportions of lodging and
  airline bookings cannot be expected as before.
  However, since the prices are expected to rise
  considerably, there will be a surge in the cash
  flow as people need to travel. This could give
  rise to lucrative opportunities for the online
  travel agencies around the globe. These
  developments are expected to take place in the
  coming period, even as countries strive to find a
  covid-19 breakthrough.
•  
• Post novel coronavirus, businesses worldwide are
  expected to experience a significant transition,
  where the ICT industry can be the biggest gainer.
  A number of IT vendors have already digitized
  their processes and have spent considerably on
  collaboration tools and modern infrastructure to
  facilitate remote delivery models and also secure
  their workspaces. The fast adoption of digital
  transformation has been in line with the emerging
  mobility and cloud trends. In a nutshell, the
  expanding IT industry coupled with the prevalence
  of the digitalization trend can work in favor of
  the online travel market.

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Online Travel Market
Regional Analysis
The geographical analysis of the online travel
market is done for North America, Europe,
Asia-Pacific, and the rest of the world. In
2017, North America led the market with a share
of 33.75 and held the value of USD 192.46
billion. It is projected that the North American
market can achieve a growth rate of 11.8 during
the assessment timeline. The same year, the
second position was held by Europe at a value of
USD 178.72 billion and estimations indicate that
the regional market can progress at a rate of
12.0. The APAC market can gain the fastest
growth rate of 15.9 in the following years. The
influx of automation, augmented and virtual
reality and big data have created several
opportunities for the travel agencies in North
America. The online travel market in the region
is booming, backed by the rising demand for CRM
solutions across diverse industries, combined
with the increasing use of the mobile booking
technology as well as travel apps. In Europe,
the thriving travel and tourism industry forms
the core of the economy and generates high degree
of employment. The expansion of the tourism
sector in the region is the biggest growth
booster in the online travel market in Europe.
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Online Travel Market
Application Major Players in this Research

• Online Travel Market Prominent Players
• Alibaba Group Holding Limited (China),
• TripAdvisor Inc. (US),
• eDreams ODIGEO SA (Luxembourg),
• FlixMobility GmbH (Germany),
• Ctrip.com International Ltd (China),
• Thomas Cook Group PLC (UK),
• MakeMyTrip (India) Pvt. Ltd (India),
• Airbnb Inc. (US),
• Ryanair DAC (Ireland),
• Expedia Inc. (US)

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Online Travel Market
Online Travel Market Segmented on the basis of

• Segment
• Platform type, booking and service type are the
  main segment according to which the market review
  has been conducted in the report.
• The platform types include desktop-based platform
  as well as mobile/tablets based.
• The booking-wise market segmentation comprises
  direct travel facilitators and online travel
  agencies.
• Depending on the service type, the primary
  segments include accommodation (hotels and guest
  house/dormitory), vacation packages (in-country
  and outside country) and transportation (air
  travel, train travel, bus travel and others).

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