Online Travel Booking Platform Market size to grow by USD 1,107.21 billion from 2022 to 2027|Rising consolidation of online travel agencies is one of the key drivers- Technavio

NEW YORK, July 4, 2023 /PRNewswire/ -- The Online Travel Booking Platform Market size is estimated to grow by USD 1,107.21 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 14.85%. APAC will account for 38% of the market's growth during the forecast period. Another key region that contributes significantly to the growth of the global market is North America. Some of the key countries in North America which significantly contributed to the market growth include US and Canada. Factors such as the rising population of baby boomers, the increasing demand for micro trips, the growing demand for multigenerational customized travels, the increasing number of domestic tourist destinations, growth in disposable income, and the increasing expenditure in leisure and travel activities are expected to drive the global online travel booking platform in the region during the forecast period. For Comprehensive details on the market size of historic period(2017 to 2021) and forecast period (2023-2027) - View Sample report

Online Travel Booking Platform Market - Vendor Landscape
The online travel booking platform market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Online Travel Booking Platform Market - Market Dynamics

Major Drivers & Challenges- 

The growing consolidation of online travel agencies is significantly driving the online travel booking platform market growth. Even though there are several vendors in the market which are competing against each other, there is significant growth in the market due to certain mergers and acquisitions. Several prominent vendors in the market are entering into a strategic partnership to dominate the market. Hence, such collaborations are expected to drive the market growth during the forecast period.

The increasing competition from offline travel agencies may impede the market growth. Offline travel agencies are a major player in the global travel industry. Some customer segments, especially the baby boomer generation, prefer offline travel agencies as they are not keen on using new technologies as well as due to trust issues. Also, there is a growing preference for travel agents among the family segment for most of their trips. Hence, such factors are expected to hinder the market growth during the forecast period.

Key Trends-

Dynamic pricing is an emerging trend influencing the online travel booking platform market growth. In order to gain maximum market share in certain locations, several vendors in the market are using a dynamic pricing methodology. In a dynamic pricing approach, the vendors charge customers based on the average number of passengers to a particular destination. Hence, it offers vendors a competitive advantage to attract more tourists during the off-season. Hence, such factors are expected to drive the market growth during the forecast period.

Drivers, Trends and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

Company Profiles

The online travel booking platform market report includes information on the product launches, sustainability, and prospects of leading vendors including Airbnb Inc., BlueStar Air Travel Services, Pvt. Ltd., Booking Holdings Inc., DirectVision SRL, eDreams ODIGEO, Expedia Group Inc., Fareportal Inc, Happyeasygo Group, Hopper Inc., Hostel World Group Plc, Kiwi.com sro, Lastminute.com NV, MakeMyTrip Ltd., OneTwoTrip Ltd., Thomas Cook India Ltd., Travelopro, Trip.com Group Ltd., TripAdvisor LLC, TUI AG, and Yatra Online Inc.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

Online Travel Booking Platform Market - Market Segmentation

The market is segmented by platform (mobile/tablet and desktop/laptop), type (packages and direct), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The market share growth by the mobile/tablet segment will be significant for the market growth during the forecast period. Factors such as the rising penetration of smartphones and the increasing availability of many travel applications are significantly contributing to the market growth. As a result, several vendors in the market are upgrading their travel applications as well as adding new features to offer a personalized experience to customers. Hence, such factors are expected to drive the growth of this segment which in turn will fuel the market growth during the forecast period.

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Related Reports

The online travel agencies' IT spending market size is expected to increase by USD 1.73 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.22%. Furthermore, this report extensively covers online travel agencies' IT spending market segmentation by type (software spending, IT services spending, and hardware spending) and geography (North America, Europe, APAC, South America, and MEA). The increasing internet and smartphone penetration is one of the key drivers supporting online travel agencies IT spending market growth.

The travel technologies market size is expected to increase by USD 3.70 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.67%. Furthermore, this report extensively covers the travel technologies market segmentation by product (GDS and airline and hospitality IT solutions) and geography (North America, Europe, APAC, the Middle East and Africa, and South America). One of the key factors driving growth in the travel technologies market is the increasing consolidation of online travel agencies.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Platform
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global online travel booking platform market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global online travel booking platform market 2017 - 2021 ($ billion)

• 4.2 Booking Platform Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Booking Platform Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Platform

• 6.1 Market segments 
• Exhibit 30: Chart on Platform - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Platform - Market share 2022-2027 (%)

• 6.2 Comparison by Platform 
• Exhibit 32: Chart on Comparison by Platform
• Exhibit 33: Data Table on Comparison by Platform

• 6.3 Mobile/tablet - Market size and forecast 2022-2027
• Exhibit 34: Chart on Mobile/tablet - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Mobile/tablet - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Mobile/tablet - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Mobile/tablet - Year-over-year growth 2022-2027 (%)

• 6.4 Desktop/laptop - Market size and forecast 2022-2027
• Exhibit 38: Chart on Desktop/laptop - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Desktop/laptop - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Desktop/laptop - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Desktop/laptop - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Platform 
• Exhibit 42: Market opportunity by Platform ($ billion)
• Exhibit 43: Data Table on Market opportunity by Platform ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Packages - Market size and forecast 2022-2027
• Exhibit 48: Chart on Packages - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Packages - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Packages - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Packages - Year-over-year growth 2022-2027 (%)

• 7.4 Direct - Market size and forecast 2022-2027
• Exhibit 52: Chart on Direct - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Direct - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Direct - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Direct - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 56: Market opportunity by Type ($ billion)
• Exhibit 57: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ billion)
• Exhibit 104: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Airbnb Inc. 
• Exhibit 111: Airbnb Inc. - Overview
• Exhibit 112: Airbnb Inc. - Product / Service
• Exhibit 113: Airbnb Inc. - Key offerings

• 12.4 BlueStar Air Travel Services I Pvt. Ltd.
• Exhibit 114: BlueStar Air Travel Services I Pvt. Ltd. - Overview
• Exhibit 115: BlueStar Air Travel Services I Pvt. Ltd. - Product / Service
• Exhibit 116: BlueStar Air Travel Services I Pvt. Ltd. - Key offerings

• 12.5 Booking Holdings Inc. 
• Exhibit 117: Booking Holdings Inc. - Overview
• Exhibit 118: Booking Holdings Inc. - Business segments
• Exhibit 119: Booking Holdings Inc. - Key offerings
• Exhibit 120: Booking Holdings Inc. - Segment focus

• 12.6 DirectVision SRL 
• Exhibit 121: DirectVision SRL - Overview
• Exhibit 122: DirectVision SRL - Product / Service
• Exhibit 123: DirectVision SRL - Key offerings

• 12.7 eDreams ODIGEO 
• Exhibit 124: eDreams ODIGEO - Overview
• Exhibit 125: eDreams ODIGEO - Business segments
• Exhibit 126: eDreams ODIGEO - Key offerings
• Exhibit 127: eDreams ODIGEO - Segment focus

• 12.8 Expedia Group Inc. 
• Exhibit 128: Expedia Group Inc. - Overview
• Exhibit 129: Expedia Group Inc. - Business segments
• Exhibit 130: Expedia Group Inc. - Key offerings
• Exhibit 131: Expedia Group Inc. - Segment focus

• 12.9 Fareportal Inc 
• Exhibit 132: Fareportal Inc - Overview
• Exhibit 133: Fareportal Inc - Product / Service
• Exhibit 134: Fareportal Inc - Key offerings

• 12.10 Happyeasygo Group 
• Exhibit 135: Happyeasygo Group - Overview
• Exhibit 136: Happyeasygo Group - Product / Service
• Exhibit 137: Happyeasygo Group - Key offerings

• 12.11 Hopper Inc. 
• Exhibit 138: Hopper Inc. - Overview
• Exhibit 139: Hopper Inc. - Product / Service
• Exhibit 140: Hopper Inc. - Key offerings

• 12.12 Hostel World Group Plc 
• Exhibit 141: Hostel World Group Plc - Overview
• Exhibit 142: Hostel World Group Plc - Product / Service
• Exhibit 143: Hostel World Group Plc - Key news
• Exhibit 144: Hostel World Group Plc - Key offerings

• 12.13 Kiwi.com sro 
• Exhibit 145: Kiwi.com sro - Overview
• Exhibit 146: Kiwi.com sro - Product / Service
• Exhibit 147: Kiwi.com sro - Key offerings

• 12.14 Lastminute.com NV 
• Exhibit 148: Lastminute.com NV - Overview
• Exhibit 149: Lastminute.com NV - Product / Service
• Exhibit 150: Lastminute.com NV - Key offerings

• 12.15 MakeMyTrip Ltd. 
• Exhibit 151: MakeMyTrip Ltd. - Overview
• Exhibit 152: MakeMyTrip Ltd. - Business segments
• Exhibit 153: MakeMyTrip Ltd. - Key offerings
• Exhibit 154: MakeMyTrip Ltd. - Segment focus

• 12.16 OneTwoTrip Ltd. 
• Exhibit 155: OneTwoTrip Ltd. - Overview
• Exhibit 156: OneTwoTrip Ltd. - Product / Service
• Exhibit 157: OneTwoTrip Ltd. - Key offerings

• 12.17 Thomas Cook India Ltd. 
• Exhibit 158: Thomas Cook India Ltd. - Overview
• Exhibit 159: Thomas Cook India Ltd. - Business segments
• Exhibit 160: Thomas Cook India Ltd. - Key offerings
• Exhibit 161: Thomas Cook India Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 162: Inclusions checklist
• Exhibit 163: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 164: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 165: Research methodology
• Exhibit 166: Validation techniques employed for market sizing
• Exhibit 167: Information sources

• 13.5 List of abbreviations 
• Exhibit 168: List of abbreviations

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