Global Online Travel Booking Market Overview
Online Travel Booking Market accounted for USD 644.6 Billion in 2020 and is estimated to be USD 2186.73 Billion by 2030 and is anticipated to register a CAGR of 13.1%.
Online travel booking is connecting travel and hospitality industry suppliers with the buyers integrated form into single screen. Online travel booking provide users their travel requirements such as departure date, destination, return date, and class of travel. Main advantage of booking on online travel portal is convenience. Using this booking user can easily do booking any time and it is very easy for travelers to update or cancel online booking. These online booking agencies provides the comfort of booking from any place of the world and offers a consumer with convenient packages and price saving options. The website finds best travel offers and prices across multiple sources and aggregates them all in one place. It provides wide variety of options to the consumers while selecting travels.
Global Online Travel Booking Market Drivers & Restraints
Rising technological advancement
Increasing technological developments across the globe, along with growing usage of smart phones in travel industry and hotel booking sector are major factors driving growth of the global online travel booking market. In addition, increasing penetration of internet of things in developing countries, along with rise in online transaction are major factors propelling growth of the global online travel booking market. Furthermore, rising adoption of travel services through mobile websites and apps, coupled with huge discount, cash back, and gift vouchers being offered by key players on online booking are boosting the global market.
However, lack of knowledge of internet in developing countries and fear of fraudulent sites can expected to hamper growth of the global online travel booking market up to certain extents in near future. Introducing unique and cost-effective holiday packages by players can create lucrative opportunities in the global online travel booking market.
Global Online Travel Booking Market Segmentations & Regional Insights
The global online travel booking market is segmented based on service type, mode of booking, platform, and region.
On the basis of service type, the target market is classified into transportation booking, accommodation booking, and others. On the basis of mode of booking, the target market is classified into online and direct agency. On the basis of platform, the target market is bifurcated into desktop and mobile.
Regional Insights:
The global online travel booking market accounted for US$ 644.6 billion in 2020 and is estimated to be US$ 2186.73 billion by 2030 and is anticipated to register a CAGR of 13.1%. On region the global online travel booking market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America online travel booking market accounted for major revenue share in global online travel booking market, followed by other regions. This is attributed to well-developed IT infrastructure, increasing number of people traveling through train, airline, and other mode of transports, and presence of major players operating in the countries of the North America region. Europe online travel booking market accounted for second-highest market share, owing to the increasing adoption of mobile applications for online travel booking, especially in the transportation sector in European countries. Asia Pacific online travel booking market is expected to grow at the highest rate during the forecast period, due to digitalization trend, increase in disposable income, and greater penetration of internet facilities in countries of the region.
Report Scope:
Attribute |
Details |
Base year for estimation |
2020 |
Forecast period |
2020 – 2030 |
Market representation |
Revenue in USD Billion & CAGR from 2020 – 2030 |
Market Segmentation |
By Service Type- Transportation Booking, Accommodation Booking, and Others. By Mode of Delivery– Online and Direct Agency By Platform– Desktop and Mobile |
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global online travel booking market report based on service type, mode of booking, platform, and region.
Online Travel Booking Market, By Region:
- North America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- U.S.
- Canada
- Middle East & Africa
Global Online Travel Booking Market Competitive Landscape & Key Players
The key players operating in the global online travel booking market includes Priceline Group Inc., Expedia, Inc., Ctrip.Com International, Ltd., Trip Advisor LLC, Hostel world Group, CheapOair.Co. Hotel Urbano Travel, Tourism SA, Trivago GmbH, MakeMyTrip Limited, and Thomas Cook Group Plc.
Make My Trip:
It is India’s leading online travel company founded in the year 2000. Created to empower the Indian traveler with instant booking and comprehensive choices, the company started his journey in the US-India travel market
Global Online Travel Booking Market Company Profile
- Priceline Group Inc.
- Expedia Inc.
- Ctrip.com International Ltd.
- Trip Advisor LLC
- Hostel World Grp
- CheapOair.com
- Hotel Urbano Travel
- Tourism SA
- Make My Trip Ltd.
- Thomas Cook Grp PLC
Global Online Travel Booking Market Highlights
FAQs
The Global Online Travel Booking Market report segments the market on the basis of service type, mode of booking, platform, and region.
Rise in technological developments and smart phone uses in travel industry and hotel booking sector are driving growth of the global online travel booking market.
North America online travel booking market accounted for major revenue share of the global online travel booking market and is further anticipated to maintain its dominance over the forecast period.
The leading players operating in the Global Online Travel Booking Market includes Priceline Group Inc., Expedia, Inc., Ctrip.Com International, Ltd., Trip Advisor LLC, Hostelworld Group, CheapOair.Co., Hotel Urbano Travel, Tourism SA, Trivago GmbH, MakeMyTrip Limited, and Thomas Cook Group Plc.