The report "Global Online Travel Booking Market, By Service Type (Transportation Booking, Accommodation Booking, and Others), By Mode of Booking (Online and Direct Agency), By Platform (Desktop and Mobile), and Region - Global Forecast to 2029" Global online travel booking market is projected to grow from US$ 644.6 billion in 2020 to US$ 1955.1 billion by 2029. Rise in technological developments and smart phone uses in travel industry and hotel booking sector are driving growth of the global online travel booking market. In addition, increasing penetration of internet of things in developing countries, along with rising online transaction are also major factors propelling growth of the global online travel booking market. Furthermore, rising adoption of travel services through mobile websites and apps is factor boosting the global market. Introducing unique and cost effective holiday packages by players can create lucrative opportunities for players operating in the global online travel booking market.

Key Highlights:

In November 2018, for instance, Expedia, Inc. has acquired HomeAway, Inc. to provide an even better product and services to customers in online travel industries.
Key Market Insights from the report:

The global online travel booking market accounted for US$ 644.6 billion in 2020 and is projected to register a CAGR of 13.1 % over the forecast period. The market report has been segmented on the basis of service type, mode of booking, platform, and region.

By service type, the global transportation booking segment accounted for major revenue share in 2018. This is owing to the rising number of online flight bookings, expanding various low-cost transportation, and increasing number of connecting flights for tier I and II cities across the globe.
By mode of booking, the online segment accounted for major revenue share in 2018, due to the rising popularity of online travel agencies.
By platform, the mobile segment is accounted for major revenue share in 2018, owing to the increasing penetration of smartphones and the growing confidence of people in making secure mobile payments.
By region, North America online travel booking market accounted for major revenue share of the global online travel booking market and is further anticipated to maintain its dominance over the forecast period. This is attributed to well-developed IT infrastructure, increasing number of people traveling through train, airline, and other mode of transports, and presence of major players operating in the countries of the North America region. Europe online travel booking market accounted for second-highest market share, in 2018, owing to the increasing adoption of mobile applications for online travel booking, especially in the transportation sector in European countries. Asia Pacific online travel booking market is expected to grow at the highest rate during the forecast period, 2018, due to greater penetration of internet facilities in countries of the region.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Online Travel Booking Market”, By Service Type (Transportation Booking, Accommodation Booking, and Others), By Mode of Booking (Online and Direct Agency), By Platform (Desktop and Mobile), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

To know the upcoming trends and insights prevalent in this market, click the link below:

Links

https://www.prophecymarketinsights.com/market_insight/Global-Online-Travel-Booking-Market-535

The prominent player operating in the global online travel booking market includes Priceline Group Inc., Expedia, Inc., Ctrip.Com International, Ltd., Trip Advisor LLC, Hostelworld Group, CheapOair.Co., Hotel Urbano Travel, Tourism SA, Trivago GmbH, MakeMyTrip Limited, and Thomas Cook Group Plc.

About Prophecy Market Insights

Prophecy Market Insights is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.

Contact Us:

Sales

Prophecy Market Insights

Email- [email protected]