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Title: Online Travel Market Analysis | CMI


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
ONLINE TRAVEL MARKET ANALYSIS
  • Online Travel Market, By Mode of Booking (Online
    Travel Agencies and Direct Travel Suppliers), By
    Platform Type (Mobile and Desktop), By Service
    Types (Transportation, Travel Accommodation, and
    Vacation Packages), By Age Group (22-31, 32-43,
    44-56 and gt56) - Size, Share and Growth Analysis
    2018-2026

3
Market Opportunities
  • The conventional travel advisors are replaced by
    online travel booking platforms due to high
    penetration and mass reach of internet. Growing
    preference of travelers towards easily available
    digital platforms instead of conventional trip
    advisors has boosted the market growth for online
    travelling solutions.
  • Global Online Travel Market is expected to
    witness significant growth during the forecast
    period (20182026), due to high internet
    penetration, easy availability of online
    platforms, and growing travel tourism industry,
    worldwide. People of age group 22 31 years are
    the main audience for the online travel market,
    as they are the early starters in their
    professional carrier and prefer to travel for
    commercial purposes as well as to explore new
    places. According to a report published by
    Nicholson Yachts, in November 2016, globally
    young age group spends about US 200 billion on
    travel every year.

4
Introduction of Online Platforms Changes the
Online Travel Market
  • Extensive use of mobile travel applications and
    travel websites or review websites is propelling
    the use of online traveling platforms as compared
    to conventional trip advisors. As per Coherent
    Market Insights, 41 of gross travel bookings in
    India are done online and easy access of internet
    plays a key role in it. Moreover, review websites
    such as TripAdvisor, Expedia, and Google
    significantly boosts in increasing the online
    travel market as it helps travelers in taking
    traveling decision as users can get an idea about
    the place and other relevant issues such as
    availability of hotels, weather conditions, and
    others via these review websites. Travelers are
    active on social media sites such as Facebook,
    Twitter, and Instagram, where posts or reviews of
    travel destination can aid in travel decision.

5
Figure 1. Global Online Travel Market Share (),
By Platform Type (2017)
6
Market Drivers
  • Increasing mobile usage and innovative mobile
    apps are the key growth drivers
  • Increasing use of mobile devices and social media
    are providing a new medium for communication.
    High internet penetration has led to growing use
    of smartphones and in-turn mobile applications
    with dedicated websites for trips and travelling
    such as MakeMyTrip Limited, trivago N.V. Airbnb,
    Google trips, TripAdvisor, Uber, and others. Easy
    navigation feature in mobile applications is also
    one of the key factors behind increasing use of
    these applications. Furthermore, travel app
    offers high flexibility to customers and provides
    an easy medium to stay connected with the
    services providers.
  • Various payment applications are launched with
    special safe and secured feature for online
    travel applications. Previously, options for
    payments for travelers were limited to credit or
    debit card for online payments, however payment
    options such as PayPal, MobilePay, RuPay, PayU,
    Stripe, and others have emerged in the recent
    past. For bookings on e-commerce websites,
    e-wallets remain preferred payment method, which
    has increased the number of bank transition for
    online travel booking.

7
Global Online Travel Market Share (), by Region
()
8
  • Online travelling market in Asia Pacific is
    expected to witness considerable growth in the
    forecast period, owing to growth in disposable
    income of individuals especially in emerging
    economies, increased travel frequency from
    international as well as domestic places, and
    booming business travel industry in the region.
    Increased frequency for business travelling is
    majorly attributed to overseas expansion of
    conglomerates, which requires constant visits and
    monitoring.
  • According to Coherent Market Insights analysis
    2016, over 90 business travelers have mobile
    phones and more than half business travelers
    managed journey from mobile devices.

9
Key Players
  • Global players of the global online travel market
    are OpenTable, Sky Park Secure, Viator,
    FancyHands, Routehappy, Adioso, Tripit, Eater,
    Euans Guide, Hipmunk, Skyscanner, Owners Direct,
    and Accuweather.

10
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com
    /market-insight/online-travel-market-2504

11
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

12
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

13
  • Thank You!
  • Kindly follow CMI Social Media Profiles
    for the latest company updates
  • Facebook
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  • Twitter
  • https//www.coherentmarketinsights.com/
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