Online Travel Market Size, Share, Emerging Trends, Increasing Demand, Industry Growth, Forecast 2023


Market Overview:

The online travel market is expected to generate $110.9 billion by 2023 with a CAGR of 11.1% over the forecast period 2018-2023. Online travel providers aim to facilitate travel planning and booking for travelers. The online travel market is driven by fast and convenient flight and hotel bookings, increased customer confidence in online payments, and the ability to compare the various available travel options. Market participants today offer a variety of travel services through mobile websites and apps, as it is one of the most preferred travel booking media, especially among young professionals.

Key Players:

The forefront players of the global Online Travel Market Classteacher Learning Systems (India), Pearson PLC (UK), Lynda.Com (US), McGraw-Hill Education (US), Aptara Inc. (US), Blackboard Inc. (US), Adobe Systems Inc. (US), Edmodo (US), Docebo (Canada), PowerSchool Group LLC (US), K12 Inc. (US), Tata Interactive Systems (India), Udacity, Inc. (the US), and a few more.

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Market Segmentation:

BY MODE OF BOOKING

• Online Travel Agencies

• Direct Travel Suppliers

BY TYPES OF PLATFORM

• Mobile

• Desktop

BY SERVICE TYPES

• Transportation

• Travel Accommodation

• Vacation Packages

Regional Insights:

The geographical analysis of the online travel market is done for North America, Europe, Asia-Pacific, and the rest of the world.

In 2017, North America led the market with a share of 33.75% and held the value of USD 192.46 billion. It is projected that the North American market can achieve a growth rate of 11.8% during the assessment timeline. The same year, the second position was held by Europe at a value of USD 178.72 billion; and estimations indicate that the regional market can progress at a rate of 12.0%. The APAC market can gain the fastest growth rate of 15.9% in the following years.

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