The online travel market is gaining popularity due to the increasing popularity of the internet among the user and an increasing number of smartphones. Online travel agencies allow customers to book flights, hotels, and other travel related services through websites and mobile apps. The online travel market is a highly competitive market with the presence of a large number of players in the market, and due to low entry barriers new players are emerging, and this factor is intensifying the competition in the online travel market. The Asia-Pacific region is expected to grow significantly in the forecast period which might create opportunities for the companies operating in this market to generate more revenues. An increasing number of travelers, growing disposable incomes, and the increasing popularity of online travel apps are the major factors that are supporting the growth of the online travel market. However, an increasing number of cyber-attacks and growing privacy concerns are the major restraining factors for the online travel market. The players offering in the online travel market are focusing on offering heavy discounts on the travel packages to attract more customers which is creating pricing pressure on other companies in the market.
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Some of the leading players in global market:
1. Airbnb Inc.
2. Expedia Group
3. Fareportal Inc.
4. Hostelworld Group
5. MakeMytrip Limited
6. priceline. com LLC
7. Thomas Cook Group plc
8. TripAdvisor Inc.
9. Trivago Gmbh
10. TUI Group
The global online travel market is segmented on the basis of offering booking mode, and platform. Based on offering, the market is segmented as travel, accommodation, and tours and package. On the basis of booking mode the market is segmented as direct and travel agencies. Based on the platform the market is segmented into desktop applications and mobile applications.The report analyzes factors affecting online travel market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the online travel market in these regions.
The reports cover key developments in the online travel market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from online travel market are anticipated to lucrative growth opportunities in the future with the rising demand for online travel in the global market. Below mentioned is the list of few companies engaged in the online travel market.
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