Global Online Travel Agents Market Outlook, Opportunities And Strategies – Includes Online Travel Agent Market Share
Learn about the global online travel agents market through The Business Research Company, which provides information on online travel agents market size, online travel agents market drivers and restraints, online travel agents market players, the COVID-19 impact on the online travel agents market, and more.
The online travel agent market is expected to increase from $0.46 trillion in 2020 to $0.97 trillion in 2025 at a rate of 16.1%. The decrease is mainly due to COVID-19 pandemic across all countries in the world as most countries went into lockdown with severe travel restrictions. Subsequently, industries such as airlines, railways, hospitality, and tourism all suffered major setbacks. The online travel agent market is expected to grow at a CAGR of 5.9% from 2025 and reach $1.26 trillion in 2030.
Rapid shift in travel trends towards business leisure (bleisure) and food tourism is expected to be a major driver for online travel agent market.
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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.
Global Online Travel Agents Market Segments Include:
By Service Type: Vacation Packages, Transportation, Accommodation
By Mode Of Transport: Air, Others
By Mode Of Booking: Online, Offline, Direct
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global online travel agent market, accounting for 32.8% of the total in 2021.
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.
Major Market Players: 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 (2016-21) and ten years forecast (2022-2026-2031)
The Online Travel Agents Market Report 2022 is one of a series of new reports from The Business Research Company that provides online travel agents market overviews, analyzes and forecasts market size, share, online travel agents market players, online travel agents market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s online travel agents market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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