Online Travel Booking Platform Market size to grow by USD 943.6 Bn | APAC to occupy 36% market growth | Technavio

NEW YORK, July 4, 2022 /PRNewswire/ -- The "Online Travel Booking Platform Market by Booking Platform, Type, and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. According to the report, the market will observe an incremental growth of USD 943.60 billion between 2021 and 2026, expanding at a CAGR of 14.64% during the forecast period. The report expects the market to have a strong growth in APAC. The region will offer significant growth opportunities for market players due to the rising population of baby boomers, increasing demand for micro trips, and growth in packaged tours.

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Vendor landscape
The global online travel booking platform market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The market is characterized by the presence of a significant number of large to small-scale vendors. The established vendors have strong financial capabilities and expertise to offer high-quality services. Small-scale vendors compete with established vendors by using low-pricing strategies and strengthening the local customer base.

Increasing internet and smartphone penetration due to technological advances has been instrumental in driving the growth of the market. However, disruptions in travel demand due to various issues such as airline pricing, hotel pricing, and natural calamities might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 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 are among some of the major market participants.

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Online Travel Booking Platform Market 2022-2026: Segmentation
The global online travel booking platform market is segmented as below:

• Type

The packages segment will have the maximum share of the market. The availability of packages at a more convenient cost and discounts for various domestic and international locations and the dynamic pricing technologies adopted by vendors are driving the growth of the segment.

• Booking Platform

The mobile/tablet segment will account for maximum revenue generation in the market over the forecast period. The increased adoption of smartphones and availability of multiple travel applications are driving the growth of the segment.

• Geography

About 36% of the market share will originate from APAC during the forecast period. The increase in internet and smartphone penetration across countries such as China and India are the key factors driving the growth of the regional market. Also, the high demand for international and domestic travel in countries such as Japan, China, Thailand, and Singapore is contributing to the growth of the online travel booking platform market in APAC.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The online travel booking platform market report covers the following areas:

• Online Travel Booking Platform Market Size

• Online Travel Booking Platform Market Trends

• Online Travel Booking Platform Market Industry Analysis

Online Travel Booking Platform Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026

• Detailed information on factors that will assist online travel booking platform market growth during 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

• Analysis of the market's competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of online travel booking platform market vendors

Related Reports:

• Travel Market by Sector and Geography - Forecast and Analysis 2022-2026

• Tourism and Hotel Market in China by Type and Product - Forecast and Analysis 2022-2026

Table of Contents:
Executive 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

• Bargaining power of buyers

• Bargaining power of suppliers

• Threat of new entrants

• Threat of substitutes

• Threat of rivalry

• Market condition

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 - Market size and forecast 2021-2026

• Market opportunity by Booking platform

Customer landscape

• 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

• Key leading countries

• Market opportunity by geography

• Market drivers

• Market challenges

• Market trends

Vendor Landscape

• Overview

• Landscape disruption

Vendor Analysis

• Vendors covered

• Market positioning of vendors

• 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

• TUI AG

Appendix

• Scope of the report

• Currency conversion rates for US$

• Research methodology

• List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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