PUBLISHER: IMARC | PRODUCT CODE: 1291380
PUBLISHER: IMARC | PRODUCT CODE: 1291380
Online Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global online travel market size reached US$ 459.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 942.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028.
Online travel agencies (OTAs) enable tourists to research and book travel services, including hotel accommodations, flights, cars, tours, and cruises, after comparing the prices, offers, discounts and access reviews. They can reduce the response time from organizations to customers with rapid online data transmission, which enhances the booking experience of the travelers. At present, hotels across the globe are relying on OTAs to obtain more visibility and increase their overall sales and profitability.
Online Travel Market Trends:
The thriving travel and tourism industry on account of the decreasing airline fares and favorable governmental policies represents one of the key factors propelling the growth of the market. OTAs offer market insights and tools for targeting tourists, securing and processing bookings, communicating with guests, and managing reviews. Moreover, leading players are focusing on aggressive promotional activities using online and television (TV) advertising, billboards and sponsorships, social media, and other marketing channels. This, coupled with the increasing sales of laptops, tablets, and smartphones, is positively influencing the market. Besides this, the Internet provides virtual representations like 3D interactive tours to convey a clear impression of the travel destinations, thereby allowing an indirect experience that surpasses the possibilities of conventional travel agents. As a result, the traditional booking method through travel agents has evolved into a fast-paced, last-minute booking approach facilitated by information and communication technologies (ICTs). This, along with the rising popularity of solo travel, is creating a positive outlook for the market. Other factors, such as rapid advancements in communication and transportation and the increasing number of business travelers worldwide, are projected to facilitate the growth of the market in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global online travel market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service type, platform, mode of booking and age group.
Breakup by Service Type:
Transportation
Travel Accommodation
Vacation Packages
Breakup by Platform:
Mobile
Desktop
Breakup by Mode of Booking:
Online Travel Agencies (OTAs)
Direct Travel Suppliers
Breakup by Age Group:
22-31 Years
32-43 Years
44-56 Years
Above 56 Years
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Expedia Group Inc., Fareportal Inc., Hostelworld Group plc, HRS, Hurb, MakeMyTrip Pvt. Ltd., priceline.com LLC (Booking Holdings Inc.), Thomas Cook India Ltd. (Fairfax Financial Holdings Limited), Tripadvisor Inc. and Yatra.com.
Key Questions Answered in This Report
1. What was the size of the global online travel market in 2022?
2. What is the expected growth rate of the global online travel market during 2023-2028?
3. What are the key factors driving the global online travel market?
4. What has been the impact of COVID-19 on the global online travel market?
5. What is the breakup of the global online travel market based on the service type?
6. What is the breakup of the global online travel market based on the platform?
7. What is the breakup of the global online travel market based on the mode of booking?
8. What is the breakup of the global online travel market based on the age group?
9. What are the key regions in the global online travel market?
10. Who are the key players/companies in the global online travel market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Online Travel Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Service Type
- 6.1 Transportation
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Travel Accommodation
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Vacation Packages
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Platform
- 7.1 Mobile
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Desktop
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Mode of Booking
- 8.1 Online Travel Agencies (OTAs)
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Direct Travel Suppliers
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Age Group
- 9.1 22-31 Years
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 32-43 Years
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 44-56 Years
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Above 56 Years
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Expedia Group Inc.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 Fareportal Inc.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 Hostelworld Group plc
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.4 HRS
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 Hurb
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 MakeMyTrip Pvt. Ltd.
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.7 priceline.com LLC (Booking Holdings Inc.)
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.8 Thomas Cook India Ltd. (Fairfax Financial Holdings Limited)
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.9 Tripadvisor Inc.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.10 Yatra.com
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.1 Expedia Group Inc.
List of Figures
- Figure 1: Global: Online Travel Market: Major Drivers and Challenges
- Figure 2: Global: Online Travel Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Online Travel Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Online Travel Market: Breakup by Service Type (in %), 2022
- Figure 5: Global: Online Travel Market: Breakup by Platform (in %), 2022
- Figure 6: Global: Online Travel Market: Breakup by Mode of Booking (in %), 2022
- Figure 7: Global: Online Travel Market: Breakup by Age Group (in %), 2022
- Figure 8: Global: Online Travel Market: Breakup by Region (in %), 2022
- Figure 9: Global: Online Travel (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Online Travel (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Online Travel (Travel Accommodation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Online Travel (Travel Accommodation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Online Travel (Vacation Packages) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Online Travel (Vacation Packages) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Online Travel (Mobile) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Online Travel (Mobile) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Online Travel (Desktop) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Online Travel (Desktop) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Online Travel (Online Travel Agencies (OTAs)) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Online Travel (Online Travel Agencies (OTAs)) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Online Travel (Direct Travel Suppliers) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Online Travel (Direct Travel Suppliers) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Online Travel (22-31 Years) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Online Travel (22-31 Years) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Online Travel (32-43 Years) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Online Travel (32-43 Years) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Online Travel (44-56 Years) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Online Travel (44-56 Years) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Online Travel (Above 56 Years) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Online Travel (Above 56 Years) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: North America: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: North America: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: United States: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: United States: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Canada: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Canada: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Asia-Pacific: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Asia-Pacific: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: China: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: China: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Japan: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Japan: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: India: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: India: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: South Korea: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: South Korea: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Australia: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Australia: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Indonesia: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Indonesia: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Others: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Europe: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Europe: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Germany: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Germany: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: France: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: France: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: United Kingdom: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: United Kingdom: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Italy: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Italy: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Spain: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Spain: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Russia: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Russia: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Others: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Latin America: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Latin America: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Brazil: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Brazil: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Mexico: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Mexico: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Others: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Middle East and Africa: Online Travel Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Middle East and Africa: Online Travel Market: Breakup by Country (in %), 2022
- Figure 79: Middle East and Africa: Online Travel Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 80: Global: Online Travel Industry: SWOT Analysis
- Figure 81: Global: Online Travel Industry: Value Chain Analysis
- Figure 82: Global: Online Travel Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Online Travel Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Online Travel Market Forecast: Breakup by Service Type (in Million US$), 2023-2028
- Table 3: Global: Online Travel Market Forecast: Breakup by Platform (in Million US$), 2023-2028
- Table 4: Global: Online Travel Market Forecast: Breakup by Mode of Booking (in Million US$), 2023-2028
- Table 5: Global: Online Travel Market Forecast: Breakup by Age Group (in Million US$), 2023-2028
- Table 6: Global: Online Travel Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Online Travel Market: Competitive Structure
- Table 8: Global: Online Travel Market: Key Players
