Online Travel Booking Platform – Evolving Opportunities with Airbnb Inc. and Booking Holdings Inc. | Projected CAGR of 5% by 2024

NEW YORK, February 3, 2022 /PRNewswire/ — The The market for online travel booking platforms is fragmented due to the presence of a large number of regional and international suppliers around the world, including 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 SA among others. The online travel booking platform market is expected to grow by $204.81 billion between 2019 and 2024, to a 5% CAGRaccording to Technavio’s latest market research report.

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Online Travel Booking Platforms Market 2020-2024 – Scope

The report also covers the following areas:

Online Travel Booking Platform Market 2020-2024 – Driver & Challenge

Factors such as increased internet and smartphone penetration will offer immense growth opportunities. However, the ddisruptions in travel demand will challenge the growth of market players. To take advantage of current opportunities, market vendors need to strengthen their presence in fast-growing segments, while maintaining their positions in slow-growing segments. The online travel booking platform market is fragmented and the degree of fragmentation will accelerate during the forecast period.

Online Travel Booking Platforms Market 2020-2024: Segmentation

Online Travel Booking Platform Market 2020-2024 – Regional and Revenue Generating Outlook

APAC was the greatest Online travel booking platform market in 2019, and the region will provide several growth opportunities for market vendors over the forecast period. Factors such as increase in online services on different online travel booking websites will significantly boost the growth of the online travel booking platform market in this region during the forecast period. 34% of the market growth will come from APAC during the forecast period. China, India and Japan are the main markets for online travel booking platforms in APAC. Market growth in this region will be faster than market growth in other regions.

The global market for online travel booking platforms by package segment is expected to grow rapidly over the forecast period. This segment includes online travel reservations in the form of packages, which generally include flights, accommodation, tours and transfers. Market providers, such as Expedia Group, Ctrip.com International, TripAdvisor and MakeMyTrip, are increasingly competing to offer such packages at lower cost and discounts for various national and international locations. Additionally, vendors use dynamic pricing technologies to withstand market competition. However, the market growth in this segment will be slower than the market growth in the direct segment. This report provides an accurate prediction of the contribution of all segments to the growth of the Online Travel Booking Platform market size.

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Online Travel Booking Platform Market 2020-2024: Key Highlights

  • Market CAGR over the forecast period 2020-2024

  • In-depth information on the factors that will contribute to the growth of the Online Travel Booking Platform Market over the next five years

  • Estimation of the Online Travel Booking Platform market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the online travel booking platform market

  • Market Competitive Landscape Analysis and Detailed Vendor Information

  • Comprehensive details of the factors that will challenge the growth of the Online Travel Booking Platform Market vendors

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Online Travel Booking Platform Market Scope

Report cover

Details

Page number

120

base year

2019

Forecast period

2020-2024

Growth momentum and CAGR

Accelerate at a CAGR of 4.91%

Market Growth 2020-2024

$204.81 billion

Market structure

Fragmented

Annual growth (%)

-35.08

Regional analysis

North America, APAC, Europe, South America and MEA

Successful market contribution

APAC at 34%

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, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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