Online Travel Market Analysis | CMI

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• Coherent Market Insights
• Market Research and Business Consulting Services
• https//www.coherentmarketinsights.com/
• COVID-19 Impact Tracker

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ONLINE TRAVEL MARKET ANALYSIS

• Online Travel Market, By Mode of Booking (Online
  Travel Agencies and Direct Travel Suppliers), By
  Platform Type (Mobile and Desktop), By Service
  Types (Transportation, Travel Accommodation, and
  Vacation Packages), By Age Group (22-31, 32-43,
  44-56 and gt56) - Size, Share and Growth Analysis
  2018-2026

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Market Opportunities

• The conventional travel advisors are replaced by
  online travel booking platforms due to high
  penetration and mass reach of internet. Growing
  preference of travelers towards easily available
  digital platforms instead of conventional trip
  advisors has boosted the market growth for online
  travelling solutions.
• Global Online Travel Market is expected to
  witness significant growth during the forecast
  period (20182026), due to high internet
  penetration, easy availability of online
  platforms, and growing travel tourism industry,
  worldwide. People of age group 22 31 years are
  the main audience for the online travel market,
  as they are the early starters in their
  professional carrier and prefer to travel for
  commercial purposes as well as to explore new
  places. According to a report published by
  Nicholson Yachts, in November 2016, globally
  young age group spends about US 200 billion on
  travel every year.

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Introduction of Online Platforms Changes the
Online Travel Market

• Extensive use of mobile travel applications and
  travel websites or review websites is propelling
  the use of online traveling platforms as compared
  to conventional trip advisors. As per Coherent
  Market Insights, 41 of gross travel bookings in
  India are done online and easy access of internet
  plays a key role in it. Moreover, review websites
  such as TripAdvisor, Expedia, and Google
  significantly boosts in increasing the online
  travel market as it helps travelers in taking
  traveling decision as users can get an idea about
  the place and other relevant issues such as
  availability of hotels, weather conditions, and
  others via these review websites. Travelers are
  active on social media sites such as Facebook,
  Twitter, and Instagram, where posts or reviews of
  travel destination can aid in travel decision.

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Figure 1. Global Online Travel Market Share (),
By Platform Type (2017)
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Market Drivers

• Increasing mobile usage and innovative mobile
  apps are the key growth drivers
• Increasing use of mobile devices and social media
  are providing a new medium for communication.
  High internet penetration has led to growing use
  of smartphones and in-turn mobile applications
  with dedicated websites for trips and travelling
  such as MakeMyTrip Limited, trivago N.V. Airbnb,
  Google trips, TripAdvisor, Uber, and others. Easy
  navigation feature in mobile applications is also
  one of the key factors behind increasing use of
  these applications. Furthermore, travel app
  offers high flexibility to customers and provides
  an easy medium to stay connected with the
  services providers.
• Various payment applications are launched with
  special safe and secured feature for online
  travel applications. Previously, options for
  payments for travelers were limited to credit or
  debit card for online payments, however payment
  options such as PayPal, MobilePay, RuPay, PayU,
  Stripe, and others have emerged in the recent
  past. For bookings on e-commerce websites,
  e-wallets remain preferred payment method, which
  has increased the number of bank transition for
  online travel booking.

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Global Online Travel Market Share (), by Region
()
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• Online travelling market in Asia Pacific is
  expected to witness considerable growth in the
  forecast period, owing to growth in disposable
  income of individuals especially in emerging
  economies, increased travel frequency from
  international as well as domestic places, and
  booming business travel industry in the region.
  Increased frequency for business travelling is
  majorly attributed to overseas expansion of
  conglomerates, which requires constant visits and
  monitoring.
• According to Coherent Market Insights analysis
  2016, over 90 business travelers have mobile
  phones and more than half business travelers
  managed journey from mobile devices.

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Key Players

• Global players of the global online travel market
  are OpenTable, Sky Park Secure, Viator,
  FancyHands, Routehappy, Adioso, Tripit, Eater,
  Euans Guide, Hipmunk, Skyscanner, Owners Direct,
  and Accuweather.

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• Reference https//www.coherentmarketinsights.com
  /market-insight/online-travel-market-2504

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About Us

• Coherent Market Insights is a global market
  intelligence and consulting organization focused
  on assisting our plethora of clients achieve
  transformational growth by helping them make
  critical business decisions.
• What we provide
• Customized Market Research Services
• Industry Analysis Services
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• Long term Engagement Model
• Country Specific Analysis

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Contact Us

• Mr. Shah
• Coherent Market Insights Pvt.Ltd.
• Address 1001 4th Ave, 3200 Seattle, WA 98154,
  U.S.
• Phone [phone]
• Email sales_at_coherentmarketinsights.com

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