Online travel booking platform market: 36% of growth will come from APAC

The Online travel booking platform market share should increase by $943.60 billion from 2021 to 2026with an acceleration CAGR of 14.64%- according to recent Technavio market research.
- One of the key factors driving the growth of the global online travel booking platform market is the increasing internet and smartphone penetration due to rapid technological advancements.
- The increasing adoption of online payment platforms is another factor supporting the growth of the online travel booking platform market share.
- One of the major factors hampering the growth of the global online travel booking platform market is the disruptions in travel demand due to various issues such as airline prices, hotel prices and natural disasters.
- APAC will register the highest growth rate of 36% among other regions. Hence, the online travel booking platform market in APAC region is expected to generate significant business opportunities for the vendors over the forecast period.
- The Online travel booking platform market is supposed to have Positive impact despite the spread of COVID-19 virus. In the short term, the market demand will show higher growth.
- As the the business impact of COVID-19 is diminishing, the online travel booking platform market is expected to have Positive and superior growth.
- Online Travel Booking Platform market vendors are expected to focus on seizing business opportunities in the package segment because he represented the greater market share in the base year.
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Report scope
Online Travel Booking Platform Market Scope |
|
Report cover |
Details |
Page number |
120 |
base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum and CAGR |
Accelerate at a CAGR of 14.64% |
Market Growth 2022-2026 |
$943.60 billion |
Market structure |
Fragmented |
Annual growth (%) |
1:45 p.m. |
Regional analysis |
North America, APAC, Europe, South America and MEA |
Successful market contribution |
APAC at 36% |
Main consumer countries |
United States, China, United Kingdom, Germany, France, India and Japan |
Competitive landscape |
Leading companies, competitive strategies, scope of consumer engagement |
Profiled companies |
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 |
Market dynamics |
Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period, |
Customization overview |
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Package booking holds the largest market share
- The growth of the online travel booking platform market share by the package segment will be significant during the forecast period.
- Market vendors, such as Expedia Group, Ctrip.com International, TripAdvisor and MakeMyTrip, are increasingly competing to provide such packages at a higher price Convenient cost and discounts for various domestic and international locations.
- Families and seniors prefer the packages because they include all the necessary complements, and the whole trip is taken care of by the tour operators, which will further boost the growth of this segment.
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APAC is expected to hold a significant share of the market
- 36% of the market growth will come from APAC during the forecast period. China, Indiaand Japan are the main markets for online travel booking platforms in APAC.
- Market growth in APAC will be faster than growth market in other regions.
- The significant increase in internet and smartphone penetration in countries such as China and India will facilitate the market for online travel booking platforms growth in Asia-Pacific over the forecast period.
Quick buy for more key highlights on the regional market share of most of the countries mentioned above.
Overview of Suppliers-
The report analyzes the competitive landscape of the market and offers information about several vendors in the market including:
- Airbnb inc.
- Reservation Holdings Inc.
- eDreams ODIGEO
- Expedia Group Inc.
- Hostelworld.com Ltd.
- MakeMyTrip Ltd.
- Thomas Cook India Ltd.
- Trip.com Group Ltd.
- TripAdvisor LLC
- TUI SA
The market for online travel booking platforms is fragmented and publishers deploy growth strategies such as the introduction of low budget plans to compete in the market.
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RECENT DEVELOPMENTS
- Airbnb Inc.- The company offers various online travel reservations such as rental houses, restaurants and experiences.
- Booking Holdings Inc.- The Company offers online travel and related services through its various subsidiaries such as pricline.com, booking.com, KAYAK, Agoda, Rentalcars.com and OpenTable.
- eDreams ODIGEO- The company offers tailor-made and personalized travel plans under its brands such as eDreams, Opodo, GO Voyages, Travellink and Liligo.
Download our sample report to know more about the recent developments in the online travel booking platform market
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Contents
Summary
Market landscape
- Market ecosystem
- Value chain analysis
Market sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market Outlook: Forecast for 2021 – 2026
Five forces analysis
- The bargaining power of buyers
- Bargaining power of suppliers
- The threat of new entrants
- The threat of substitutes
- Threat of rivalry
- Market state
Market segmentation by type
- Market segments
- Comparison by type
- Packages – Market size and forecast 2021-2026
- Direct – Market size and forecast 2021-2026
- Market Opportunity by Type
Market segmentation by booking platform
- Market segments
- Comparison by booking platform
- Mobile/tablet – Market size and forecast 2021-2026
- Desktop/Laptop Computer – Market size and forecast 2021-2026
- Market opportunity by booking platform
Customer landscape
Geographic landscape
- Geographic segmentation
- Geographic comparison
- APAC – 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
- Main leading countries
- Market Opportunity by Geography
- Market factors
- Market challenges
- Market trends
Supplier Landscape
- Insight
- Landscape disturbance
Vendor analysis
- Suppliers Covered
- Positioning on the supplier market
- Airbnb inc.
- Reservation Holdings Inc.
- eDreams ODIGEO
- Expedia Group Inc.
- Hostelworld.com Ltd.
- MakeMyTrip Ltd.
- Thomas Cook India Ltd.
- Trip.com Group Ltd.
- TripAdvisor LLC
- TUI-AG
Annex
- Report scope
- Currency conversion rates for the US dollar
- Research methodology
- Abreviations list
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