Published on : May 03, 2016
ALBANY, New York, May 03, 2016: The research study offers a comprehensive analysis of the global online travel market, focusing on the current trends, major growth drivers, and opportunities. The research study further presents the historical information and forecast statistics of the market with the help of infographics, charts, and tables.
The research study has further included insightful recommendations given by industry experts in order to help decision-makers and major players in the market to design their strategies and policies in an effective manner. In addition, several analytical tools are also used to determine the threats and opportunities in the global online travel market.
Online travel is an important component of the global travel industry and holds immense potential to grow substantially in the next few years. On the basis of type, the global online travel market can be classified into bookings made through an OTA and direct bookings with travel suppliers. In 2015, among the total bookings made across the globe, direct bookings with travel suppliers dominated the market, holding a 60% share in the global online travel market.
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The booming tourism industry across the globe, growing mobile presence, and growing internet penetration are some of the major factors anticipated to fuel the growth of the global online travel market throughout the forecast period. In addition, the tremendous increase in the use of smartphones and internet services used, particularly in emerging economies is projected to drive the global market in the near future. On the flip side, regulations and compliance in the industry and alternative accommodation providers are estimated to curb the growth of the market throughout the forecast period. Nevertheless, the rising capital investment in the hostel supply and organic expansion of core brands are considered as the key trends of the global online travel market.
Among the major geographical segments, in 2015, the U.S., Asia Pacific, and Western Europe collectively held an 80% share in the global online travel market. On the other hand, favorable socio-economic factors are estimated to boost the demand for online travel services in several developing countries across the globe. In addition, the increasing disposable income among the population in developing economies is further expected to fuel the overall tourism industry.
The research study analyzes the major players operating in the global online travel market and provides a clear picture of the competitive landscape of the market. Detailed profiles of leading players have been included in the study along with a SWOT analysis to guide new entrants in the market. Some of the prominent players mentioned in the research study are The Priceline Group, Expedia Inc., and Hostelworld.
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