Dublin, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The "Online Travel Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global landscape of travel has undergone a seismic shift with the advent of online platforms and technological innovations modernizing how travel bookings and accommodations are handled. This comprehensive analysis on the online travel market provides insights into the industry's growth, projected to reach a staggering $1.56 Trillion by 2030. Notably, there is a marked growing trend within the industry propelled by an uptick in online payment methods like UPI, and an emerging preference for mobile devices facilitating travel arrangements.
The Rapid Evolution of Online Booking Devices
With advancements in technology, the convenience of mobile/tablet devices for booking travel accommodations and transportation has become paramount. The report underscores an accelerating growth in this segment as more travelers rely on their smartphones and tablets for real-time bookings. The shift towards a more mobile-centric approach aligns with the overall evolution of consumer digital behavior, highlighting the significance of user-friendly and accessible travel arrangements.
Lucrative Regional Markets Bolstering Industry Growth
Amongst regional markets, China emerges as an industry leader, evidencing phenomenal potential within the online travel market. Factors fueling this growth include a tech-savvy consumer base, increased internet and mobile penetration, and government initiatives enhancing travel infrastructure. This paves the way for unprecedented expansion and solidifies China's dominance in the online travel industry sphere.
Sectoral Insights and Dynamic Service Offerings
The report dissects the online travel market into discrete sectors, detailing the proliferation of various service types such as transportation, vacation packages, and travel accommodations. It raises specific attention to the explosion of personalized and couple-oriented vacation packages, accelerated by social media's influence on global travel patterns. Furthermore, the analysis explores the impact of innovative payment modes in online travel arrangements. It highlights the swift adoption of Unified Payments Interface (UPI) as an emerging favorite, reflecting a broader move towards a seamless, efficient, and secure payment experience within the travel industry.
Examining Key Industry Disruptors
Online travel firms are key players in bolstering the sector's development, with heavy investments in integrating advanced technologies like artificial intelligence, machine learning, and big data analytics to cater to a burgeoning young consumer demographic demanding customization and flexibility. Within a categorized examination of the market, the report covers a full spectrum of viewpoints ranging from mobile and desktop booking devices to payment methods that include debit/credit cards, e-wallets, and other forms of digital payments.
Strategic Outlook for Market Contenders
This in-depth research also sheds light on prominent companies shaping the online travel market's trajectory, spotlighting their strategic developments, overviews, and financial highlights. These players are forging ahead with user-focused innovations and tapping into new market segments to ensure enduring growth and consumer retention in a competitive digital landscape. In sum, the analysis presents a panoramic view of the online travel market's rapidly expanding ecosystem, offering stakeholders, investors, and industry participants valuable insights into current trends, growth catalysts, and regional market dynamics that are shaping the industry's future outlook.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $667.55 Billion |
| Forecasted Market Value (USD) by 2030 | $1.56 Trillion |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
Key Topics Covered
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Online Travel Market
6. Market Share - Global Online Travel
6.1 By Type
6.2 By Service Type
6.3 By Payment Mode
6.4 By Gender
6.5 By Booking Device
6.6 By Countries
7. Type - Global Online Travel Market
7.1 Package
7.2 Direct
8. Service Type - Global Online Travel Market
8.1 Transportation
8.2 Vacation Packages
8.3 Travel Accommodation
9. Payment Mode - Global Online Travel Market
9.1 UPI
9.2 E-Wallets
9.3 Debit/Credit Cards
9.4 Other
10. Gender - Global Online Travel Market
10.1 Male
10.2 Female
11. Booking Device - Global Online Travel Market
11.1 Mobile/Tablet
11.2 Desktop
12. Countries - Global Online Travel Market
12.1 North America
12.2 Europe
12.3 Asia Pacific
12.4 Latin America
12.5 Middle East &Africa
12.6 Rest of the World
13. Porter's Five Forces Analysis - Global Online Travel Market
13.1 Bargaining Power of Buyers
13.2 Bargaining Power of Suppliers
13.3 Degree of Rivalry
13.4 Threat of New Entrants
13.5 Threat of Substitutes
14. SWOT Analysis - Global Online Travel Market
14.1.1 Strength
14.1.2 Weakness
14.1.3 Opportunity
14.1.4 Threat
15. Key Players Analysis
15.1 Airbnb
15.2 Expedia
15.3 Booking Holding
15.4 TripAdvisor Inc.
15.5 Trip.com Group Ltd.
15.6 MakeMyTrip Limited
15.7 Hostelworld Group PLC (HSW)
15.8 Trivago N.V
15.9 Despegar.com Corp
15.10 Lastminute.com Group
For more information about this report visit https://www.researchandmarkets.com/r/q2eic9
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