The Global Online Travel Agent Market Report by The Business Research Company covers online travel agent market drivers and restraints, online travel agent market size, major players, and the impact of COVID-19 on the online travel agent market.
The online travel agent market consists of sales of travel services through online channels. Online travel agents or agencies are those individuals or companies that have websites that allow consumers to book various travel related services via the internet. Travel agents are engaged in the sales of travel services such as flights, buses, vacation packages, hotels, and rental cars via online networks. The online travel agent market covered in this report is segmented by service type into vacation packages; transportation; accommodation and by platform into mobile/tablets based and desktop based. An online travel agent (OTA) is an individual or a company that provides a web-based market place, which allows consumers to research and book travel products and services, such as hotels, flights, cars, tours, and cruises, among others, directly with travel suppliers.
The global online travel agent market is expected to grow from$595.8 billion in 2020 to $902.2 billion in 2023 at a rate of 14.8%.
The surge in smartphone users along with growing internet penetration are anticipated to boost the online tourism industry and the business for travel agents during the period. Increasing penetration of internet and growth in the number of smartphone users is contributing to the consumer shift towards online channels for travel ticket and hotel bookings. For instance, the number of smartphone users in India is estimated to reach 1.1 billion in 2024.ii Consequently, the rise in the number of smartphone users coupled with increasing internet penetration is forecast to propel the revenues for the online travel agent market during the years to come ahead.
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Some online travel agent market trends include focusing on customer acquisitions by launching direct booking platforms to attract a greater number of customers. The direct booking services through different platforms such as apps, websites, social media and others offer an opportunity for players in the online travel agent market to engage a greater number of customers and build positive customer relationships. Moreover, solo traveling is becoming increasingly popular due to changing lifestyles; with many people partnering and settling down later in life, young people taking gap years to travel independently, high divorce rates in many countries and the growing acceptance of solo travel. The demand from solo travelers is rising which is increasing opportunities for the travel industry.
Global online travel agent market segments include:
1) By Service Type: Vacation Packages, Transportation, Accommodation
2) By Platform: Mobile/Tablets Based, Desktop Based
3) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Online Travel Agent Opportunities And Strategies: Forecast To 2023 is one of a series of new reports from The Business Research Company that provides online travel agent market overviews, analyzes and forecasts market size, share, online travel agent market players, online travel agent market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The online travel agent identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Online Travel Agent Opportunities And Strategies: Forecast To 2023 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Booking Holdings Inc., Expedia Group Inc, Trip.com Group Limited, Tripadvisor, Inc., Trivago N.V.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Online Travel Agent Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Online Travel Agent Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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