Online travel booking platform market size to grow by $943.6 billion | Asia-Pacific will take 36% of market growth

supplier landscape
The global online travel booking platform market is fragmented and the degree of fragmentation will increase over the forecast period. The market is characterized by the presence of a significant number of large and small suppliers. Recognized providers have strong financial capabilities and experience to offer high quality services. Small suppliers compete with well-known suppliers using low price strategies and strengthening the local customer base.

Increasing internet and smartphone penetration due to technological advances has played a major role in the growth of the market. However, disruptions in travel demand due to various issues such as airfare prices, hotel prices and natural disasters may hamper the growth of the market. Competitors must focus on differentiating their product offerings with unique value propositions to solidify their market position. Market vendors must also capitalize on existing growth opportunities in high-growth segments while maintaining their positions in slow-growth segments. Airbnb Inc., Booking Holdings Inc., eDreams ODIGEO, Expedia Group Inc., Ltd., MakeMyTrip Ltd., Thomas Cook (India) Ltd., Group Ltd., TripAdvisor LLC and TUI-AG are among the main market participants.

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

The package segment will have the maximum market share. The availability of packages at a more convenient price and with discounts for various locations at home and abroad, as well as dynamic pricing technologies adopted by suppliers, are driving the growth of this segment.

  • Booking platform
    • mobile/tablet
    • desktop/laptop

The Mobile/Tablet segment will generate the highest revenue in the market over the forecast period. Increasing smartphone usage and the availability of several travel apps are fueling the growth of this segment.

  • Geography
    • North America
    • Asian-Pacific area
    • Europe
    • South America
    • IEA

About 36% of the market share will come from the Asia-Pacific region during the forecast period. Increasing penetration of the Internet and smartphones in countries such as China as well as India are key drivers of regional market growth. In addition, high demand for international and domestic travel in countries such as Japan, China, Thailandas well as Singapore contributes to the growth of the online travel booking platform market in the Asia-Pacific region.

Technavio provides a detailed picture of the market by examining, synthesizing and summarizing data from multiple sources. The Online Travel Booking Platform Market Report covers the following areas:

Online Travel Booking Platform Market 2022-2026: Highlights

  • Market CAGR in the forecast period 2022-2026
  • Detailed information about the factors that…


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