Global Online Travel Booking Market was valued US$ XXX.X Bn in 2019 and is expected to reach US$ XXX.X Bn by 2027 at a CAGR of 6.8%.

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The online travel booking market is divided into 5 segments including region, the global revenue of online travel booking market, amounts to US$ X78 Bn in 2019. Most of the revenue was generated by the vacation packages, followed by other segments like online travel agencies. The Online Travel booking is a well-known subject, when it comes to digitalization and disruptive changes within regular/traditional industries. Online travel booking services have a wide range of dealers and providers, who allows customers to choose their travel experience.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

The traditional offline travel booking market is already been affected by Online travel booking, meanwhile every sector in booking industry has gone online including government sectors. Today, online travel booking is simplified and much convenient compared to traditional booking, thanks to digital usage of desktop and devices (i.e., Smartphone, Tablets, Computers, Laptops, etc.). Approximately, 61% of world’s population use internet and 55% have access to smartphone and other devices, hence online travel booking market is expected to grow during 2020-2027.

Growth in digital platforms drives the online travel industry globally. The hotel, motels, AirBnb, etc., are playing a significant role in the growth of the online travel booking market. Furthermore, travel websites are well organized and established, travel booking apps are only on the rise with new features and advertisement. They offer more flexibility and direct access, which is very useful for business category, when it comes to last-minute bookings.

Online travel agencies such as expedia, booking holdings formerly called as priceline, ctrip so on are another significant group of actors for the global online travel market as they offer services like marketing, information sharing, and transactions that benefit both providers and consumers of accommodation. Transportation segment is expected to maintain its lead in the overall online travel services market, owing to an increase in online flight bookings. Expansion in the number of low-cost carriers and growth in the number of connecting flights for tier I and II cities across the globe, driving the growth of flight bookings. Moreover, online rail bookings witnessed significant growth in the past few years.

However, negative impacts like legal restriction, outbreak of virus or political decision, such as Coronavirus, 780 Million people in China are living under travel restriction. This will hamper 2020 market of China but is expected to increase 3 times in between 2021-2022. Furthermore, factors like trust, third party payments, personal information scam, and credit card scam are expected to limit the growth of online travel booking market.

The internet penetration, smartphones, software development, advertisement and different benefits are the main base of online travel market in developed countries. North America dominates this market, thanks to their disposable incomes and GDP. Per head consumption expenditure is 13 times, compared to China. Likewise, Europe is second largest market compared to other region as they have more paid leaves and public holidays.

The North America and Europe market are going to increase steadily and saturate by 2023. The developing countries in Asia Pacific are going to grow rapidly to lead the market at a CAGR of XX% by 2027, reaching topmost position globally. When comparing figures globally, it can be noted that most of the revenue is generated in the United States (US$XX.7 billion in 2019). The United States is followed by Europe, which had a slightly smaller revenue of US$XX.X billion in 2019. Revenues in China are the smallest in this comparison with US$XX.X billion in 2019. Within Europe, the United Kingdom is the leading country with revenues of US$XX.3 billion in 2019.

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Global Online Travel Booking Market, by Mode of booking

• Online Travel Agencies
• Direct Travel Suppliers
Global Online Travel Booking Market, by Type of platform

• Mobile
• Desktop
Global Online Travel Booking Market, by Service type

• Transportation
• Travel Accommodation
• Vacation Packages
Global Online Travel Booking Market, by Age group

• 22-31
• 32-43
• 44-56
• >56
Global Online Travel Booking Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in the Global Online Travel Booking Market

• Priceline Group Inc.
• Expedia, Inc.
• Ctrip.Com International, Ltd.
• Trip Advisor LLC
• Hostelworld Group
• CheapOair.Com.
• Hotel Urbano Travel
• Tourism SA,
• Trivago GmbH
• Thomas Cook Group Plc
• Travelguru.com
• Goibibo
• Cleartrip
• HRS
• Ezeego
• Booking.com
• Makemytrip
• Agoda.com.

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