Online Travel Booking Service Market to be Dominated by North America Region During the Forecast Period
Increasing usage of the internet
is a leading factor driving the online travel booking services market.
According to TechSci Research
report, “Online Travel Booking Service Market –Global Industry Size, Share,
Trends, Competition, Opportunities and Forecast, 2018-2028,” the global
online travel booking service market is expected to increase at an impressive
rate during the forecast period, 2024-2028 owing to convenience and time
savings to travelers. The proliferation of smartphones and mobile applications
has contributed to the growth of online travel booking services. Mobile apps
provide travelers with on-the-go access to booking platforms, allowing them to
search, book, and manage their travel plans conveniently from their mobile
devices. The mobile-friendly nature of these services has increased their
accessibility and popularity. Online travel booking services have implemented
robust security measures to protect users' personal and financial information.
As a result, users have gained trust in these platforms, leading to increased
adoption. Online travel booking companies provide a hassle-free and convenient
way for travelers to plan and book their trips. Users can access a wide range
of travel options, compare prices, read reviews, and make bookings at any time
and from anywhere, using their desktops or mobile devices. This convenience
factor is a significant driver of the increasing demand of online travel
booking services company globally during the forecasted period.
Furthermore, online travel
booking platforms enable travelers to compare prices across multiple airlines,
hotels, and other travel services. This transparency allows users to find the
best deals and take advantage of competitive pricing. The ability to save money
by finding affordable options is a compelling reason for travelers to choose
online booking services. Online travel booking companies continuously innovate
and enhance their services to cater to the evolving needs of travelers. They
provide integrated planning tools, personalized recommendations, loyalty
programs, and customer support, among other features. These value-added
services attract users and drive demand for online booking platforms. Over
time, online travel booking companies have established a reputation for
reliability and trustworthiness. They implement secure payment systems, protect
customer data, and offer reliable customer support. As users gain confidence in
the safety and reliability of these platforms, the demand for online travel
booking services continues to rise.
Moreover, with increased
awareness about environmental issues, online travel booking services were
promoting sustainable and eco-friendly travel options. This included partnering
with environmentally conscious accommodations and offering carbon offset
programs to offset the environmental impact of travel. Many online travel
booking companies were introducing flexible booking options to cater to the
changing needs of travelers. This included features like free cancellation or
modification of bookings, refundable fares, and flexible date searches to
accommodate uncertainties or changes in travel plans. In addition, to help
users find the best deals, some online travel booking companies were
implementing price tracking and alert systems. Travelers could set price alerts
for specific flights or accommodations, and they would receive notifications
when prices dropped, allowing them to make more informed booking decisions.
Some online travel booking companies were introducing dynamic packaging options,
allowing travelers to create customized travel packages.
Overall, the online travel
booking industry is ripe with opportunities for innovation, customer-centric
approaches, and strategic partnerships. As technology continues to evolve and
customer expectations change, staying agile and adaptable will be key to success
in this dynamic sector.
Browse over XX market data
Figures spread through XX pages and an in-depth TOC on "Global
Online Travel Booking Services Market.”
The global online travel booking
services market is segmented based on service type, platform, payment method,
and region.
The market is divided into
vacation packages, accommodation booking, and transportation booking based on
service type. The market growth is being driven by an increase in online
booking of flights, trains, and buses around the world, having the
transportation booking segment accounting for the greatest revenue share.
Based on the platform, the
market is divided into desktop and mobile application. Among which, the desktop
segment held a significant share during the forecast period, owing to rising
adoption of desktop or web browsing to get a detailed information about travel
and hotel bookings is accelerating industry growth.
Key market players in the global
online travel booking service market include:
- Booking
Holdings Inc.
- Expedia
Group, Inc.
- Trip
Advisor Inc.
- com
Group Ltd.
- MakeMyTrip
Limited
- Hostelworld
Group PLC
- Trivago
N.V.
- Airbnb,
Inc.
- Skyscanner
Ltd
- com
NV
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“Throughout the projected
period, the increasing demand for online travel booking companies can be
attributed to the convenience, accessibility, savings, and wide range of
options they offer, coupled with advancements in technology and the growing
trust of users in online platforms. With the safety and reliability of these
platforms, the demand for online travel booking services will continue to rise.
The demand for online travel booking services is global, with travelers from
various regions and demographics utilizing these platforms to plan and book
their trips is expanding the demand of online travel booking services globally
during the forecasted period.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Online Travel Booking Services
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028, Segmented By Service Type
(Vacation Packages, Accommodation Booking, Transportation Booking), By Platform
(Desktop, Mobile Application), By Payment Method (Pre Booking Payment, Post
Booking Payment), By Region and Competition”, has evaluated the future growth
potential of online travel booking service in the global market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the market of online travel booking
service globally.
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