Worldwide Demand of Online Travel Market 2022: Growth Perspective, Industry Statistics and Evolving Development Technology
Research Reports
Feb 17, 2023
The Online Travel market is driven by the utilization of social networking sites for booking travel with a healthy CAGR of ~11.8% during the forecast period of 2022 to 2030.
Market Research Future Insights
According to MRFR analysis, the global Online Travel market is expected to register a CAGR of 11.8% from 2022 to 2030 and hold a value of over USD 2403.22 billion by 2030.
Travel service providers assist customers in making simple reservations. They offer travel reviews and e-commerce websites. Online travel makes it feasible to reach locations, lodgings, and attractions. The internet’s widespread use is supplying travel information and suggestions. Reputable internet travel resources can be found on well-known travel websites. Nowadays, a lot of travelers check online travel websites before leaving. Tourism and travel are now essential components of daily life. This continued consumer trend is driving more demand for internet travel. Through these online travel market services, hassle-free booking is possible.
Through these platforms, customers can explore new tourist attractions, locations, and travel-related information. The pandemic has had a significant influence on several markets. There are obstacles in the market for the internet travel industry. The overall expansion of online travel is affected in the short run. Domestic travel suffers significant losses. The viral outbreak is restricting air travel. Tourism-related travel is remarkably rare. It is prohibited to travel for tourists from one nation to another. As a result, internet travel suffers significant income losses.
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Online Travel Market Report Scope:
| Parameter | Details |
| Revenue Forecast in 2030: | USD 2403.22 Billion |
| Growth Rate: | CAGR of 11.8% from 2022 to 2030 |
| Forecast Period: | 2022 -2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Regional Analysis
The internet travel market is anticipated to be dominated by Asia Pacific. Consumer spending on vacations and torus is enormous. Additionally, the presence of online travel agencies fosters adoption. India’s tourism industry will have the biggest impact on the market’s growth overall. Demand for internet travel may increase with the availability of transportation, travel information, and booking.
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Market Segmentation
The Global Online Travel market has been segmented into Platform Type, Mode of Booking, and Service Type.
Based on the Platform Type, the market has been segmented into Mobile/Tablets Based and Desktop Based.
Based on the Mode of Booking, the market has been segmented into Online Travel Agencies and Direct Travel Facilitators.
Based on the Service Type, the market has been segmented into Transportation, Accommodation, and Vacation Packages.
Online Travel Platform Type Outlook (USD Million, 2018-2030)
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Mobile/Tablets Based
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Desktop Based
Online Travel Mode of Booking Outlook (USD Million, 2018-2030)
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Online Travel Agencies
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Direct Travel Facilitators
Online Travel Service Type Outlook (USD Million, 2018-2030)
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Transportation
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Accommodation
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Vacation Packages
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Online Travel Market Key Players
Some of the key market players are Expedia Inc, Booking Holdings Inc, TripAdvisor Inc, Ctrip.com International Ltd, FlixMobility GmbH, Ryanair DAC, Thomas Cook Group PLC, MakeMyTrip (India) Pvt. Ltd, Alibaba Group Holding Limited, Airbnb Inc, eDreams ODIGEO.
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