The “Online Travel Agent Global Market Report 2021: COVID-19 Growth and Change to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global online travel agent market is expected grow from $432.14 billion in 2020 to $561.36 billion in 2021 at a compound annual growth rate (CAGR) of 29.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $833.52 billion in 2025 at a CAGR of 10%.
Rising possibilities of uncertain events such as COVID19 outbreak or natural calamities is projected to limit the growth of the tourism industry and online travel agent. The surge in smartphone users along with growing internet penetration are anticipated to boost the online tourism industry and the business for travel agents during the period. Increasing penetration of internet and growth in the number of smartphone users is contributing to the consumer shift towards online channels for travel ticket and hotel bookings. The number of smartphone users increased by 100 million or 2% to 5.11 billion in 2019 compared to the previous year. Consequently, the rise in the number of smartphone users coupled with increasing internet penetration is forecast to propel the revenues for the online travel agent market during the years to come ahead.
Growing initiatives by governments of various countries to promote tourism and build strong tourism infrastructure in order to boost the revenues generated from the tourism industry is a major trend propelling the growth of the online travel agent market during the period.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider online travel agent market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The online travel agent market section of the report gives context. It compares the online travel agent market with other segments of the online travel agent market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, online travel agent market indicators comparison.
- Expedia Inc.
- eDreams Odigeo
- On the Beach
- Alibaba Group Holding Limited
- Hostelworld Group
- Hotel Urbano Travel and Tourism SA
- Fareportal Inc.
- Trivago GmbH
- ThomasCook Group
- Priceline Group Inc.
- Airbnb Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jor9kj
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900