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Online Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

May 2022 | 145 pages | ID: OF8BB843DCCAEN
IMARC Group

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The global online travel market reached a value of US$ 407.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 843.52 Billion by 2027, exhibiting a CAGR of 11.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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, along with forecasts at the global, regional and country level from 2022-2027. 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:
How has the global online travel market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global online travel market?
What are the key regional markets?
What is the breakup of the market based on the service type?
What is the breakup of the market based on the platform?
What is the breakup of the market based on the mode of booking?
What is the breakup of the market based on the age group?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global online travel market and who are the key players?
What is the degree of competition in the industry?
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
10.2 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
10.3 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
10.4 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
10.5 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

LIST OF TABLES

Table 1: Global: Online Travel Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Online Travel Market Forecast: Breakup by Service Type (in Million US$), 2022-2027
Table 3: Global: Online Travel Market Forecast: Breakup by Platform (in Million US$), 2022-2027
Table 4: Global: Online Travel Market Forecast: Breakup by Mode of Booking (in Million US$), 2022-2027
Table 5: Global: Online Travel Market Forecast: Breakup by Age Group (in Million US$), 2022-2027
Table 6: Global: Online Travel Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Online Travel Market: Competitive Structure
Table 8: Global: Online Travel Market: Key Players

LIST OF FIGURES

Figure 1: Global: Online Travel Market: Major Drivers and Challenges
Figure 2: Global: Online Travel Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Online Travel Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Online Travel Market: Breakup by Service Type (in %), 2021
Figure 5: Global: Online Travel Market: Breakup by Platform (in %), 2021
Figure 6: Global: Online Travel Market: Breakup by Mode of Booking (in %), 2021
Figure 7: Global: Online Travel Market: Breakup by Age Group (in %), 2021
Figure 8: Global: Online Travel Market: Breakup by Region (in %), 2021
Figure 9: Global: Online Travel (Transportation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Online Travel (Transportation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Online Travel (Travel Accommodation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Online Travel (Travel Accommodation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Online Travel (Vacation Packages) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Online Travel (Vacation Packages) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Online Travel (Mobile) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Online Travel (Mobile) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Online Travel (Desktop) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Online Travel (Desktop) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Online Travel (Online Travel Agencies (OTAs)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Online Travel (Online Travel Agencies (OTAs)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Online Travel (Direct Travel Suppliers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Online Travel (Direct Travel Suppliers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Online Travel (22-31 Years) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Online Travel (22-31 Years) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Online Travel (32-43 Years) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Online Travel (32-43 Years) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Online Travel (44-56 Years) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Online Travel (44-56 Years) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Online Travel (Above 56 Years) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Online Travel (Above 56 Years) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: North America: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: North America: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: United States: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: United States: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Canada: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Canada: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Asia-Pacific: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Asia-Pacific: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: China: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: China: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Japan: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Japan: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: India: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: India: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: South Korea: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: South Korea: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Australia: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Australia: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Indonesia: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Indonesia: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Others: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Europe: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Europe: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Germany: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Germany: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: France: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: France: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: United Kingdom: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: United Kingdom: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Italy: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Italy: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Spain: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Spain: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Russia: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Russia: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Others: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Latin America: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Latin America: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Brazil: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Brazil: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Mexico: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Mexico: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Others: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Middle East and Africa: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Middle East and Africa: Online Travel Market: Breakup by Country (in %), 2021
Figure 79: Middle East and Africa: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
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


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