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.
View Our Report Sample for highlights on the regional growth opportunities, market size, and other important factors.
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.
Get additional highlights on the vendor landscape and the factors impacting the market growth. Request a Sample Report
Online Travel Booking Platform Market 2022-2026: Segmentation
The global online travel booking platform market is segmented as below:
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.
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.
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 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
Online Travel Booking Platform Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 14.64%
Market growth 2022-2026
USD 943.60 billion
YoY growth (%)
North America, APAC, Europe, South America, and MEA
Performing market contribution
APAC at 36%
Key consumer countries
US, China, UK, Germany, France, India, and Japan
Leading companies, competitive strategies, consumer engagement scope
Airbnb Inc., Booking Holdings Inc., eDreams ODIGEO, Expedia Group Inc., Hostelworld.com Ltd., MakeMyTrip Ltd.,
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized
Table of Contents:
Value chain analysis
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 Segmentation by Type
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
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
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 positioning of vendors
Booking Holdings Inc.
Expedia Group Inc.
Thomas Cook India Ltd.
Trip.com Group Ltd.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/online-travel-booking-platform-market-size-to-grow-by-usd-943-6-bn--apac-to-occupy-36-market-growth--technavio-301579992.html