NEW YORK, Oct. 20, 2021 /PRNewswire/ -- The online travel booking platform market is set to grow by USD 204.81 billion between 2020 and 2024, at a CAGR of 5%, according to the latest market research report by Technavio. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Factors such as increasing internet and smartphone penetration will offer immense growth opportunities. However, the disruptions in travel demand will challenge the growth of the market participants. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The online travel booking platform market is fragmented, and the degree of fragmentation will accelerate during the forecast period.
Online Travel Booking Platform Market 2020-2024: Vendor Analysis and Scope
Some of the major vendors of the online travel booking platform market industry include Airbnb Inc., Booking Holdings Inc., eDreams ODIGEO, Expedia Group Inc., Hostelworld.com Ltd., MakeMyTrip Ltd., Thomas Cook (India) Ltd., Trip.com Group Ltd., TripAdvisor LLC, and TUI AG. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market.
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist online travel booking platform market growth during the next five years
Estimation of the online travel booking platform market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the online travel booking platform market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of online travel booking platform market vendors
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Online Travel Booking Platform Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5%
Market growth 2020-2024
USD 204.81 billion
YoY growth (%)
North America, APAC, Europe, South America, and MEA
Performing market contribution
APAC at 34%
Key consumer countries
US, China, UK, Germany, France, India, and Japan
Leading companies, competitive strategies, consumer engagement scope
Airbnb Inc., Booking Holdings Inc., eDreams ODIGEO, Expedia Group Inc., Hostelworld.com Ltd., MakeMyTrip Ltd., Thomas Cook (India) Ltd., Trip.com Group Ltd., TripAdvisor LLC, and TUI AG
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
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