LONDON–(BUSINESS WIRE)–Technavio announces the release of its latest report on the online travel booking platform market. The market is segmented by type (packages and direct), booking platform (desktop/laptop and mobile/tablet), and geography (North America, APAC, Europe, South America, and MEA). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and market behavior across various segments.
Online Travel Booking Platform Market: Key Findings
- Online travel booking platform market value to grow by USD 204.81 billion at almost 5% CAGR during 2020-2024
- 34% of market growth to originate from APAC during the forecast period
- Based on the type, the packages segment will offer maximum opportunities for vendors during the forecast period
- Online travel booking platform market is expected to have a positive impact due to the spread of COVID-19
Online Travel Booking Platform Market: Growth Drivers
The increasing penetration of internet and smartphone is one of the prime factors driving the growth of the market. Technological advances coupled with government initiatives have increased the availability and affordability of internet. Besides, the growth in the sales of smartphones, there has been a massive surge in the number of internet users. With the potential growth in the mobile phone and internet sectors, market vendors are launching innovative and user-friendly mobile applications. These factors are increasing the demand for global online travel booking platforms, which is driving the market growth.
“Increasing consolidation of online travel agencies and the growing adoption of online payment platforms will further boost market growth during the forecast period,” says a senior analyst at Technavio.
Online Travel Booking Platform Market: Major Vendors
Airbnb Inc. operates its business through the Stays segment. The company offers various online travel bookings such as rental homes, restaurants, and experiences.
Booking Holdings Inc.
Booking Holdings Inc. operates its business through the Unified segment. The company offers online travel and related services through its various subsidiaries such as pricline.com, booking.com, KAYAK, Agoda, rentalcars.com, and OpenTable.
eDreams ODIGEO operates its business through segments such as France, Southern Europe, Northern Europe, and Rest of the World. The company offers tailored and custom travel plans under its brands such as eDreams, Opodo, GO Voyages, Travellink, and Liligo.
more recommended stories
Cyclists demonstrate using life jackets in Paseo de Montejo to demand road safety
The mobilization has the objective of.
International company Accenture will settle in Tekax, Yucatán
Accenture is a global operations, technology.
Over forced labor allegations, U.S. blocks imports of tomatoes from Mexican farms
WASHINGTON/MEXICO CITY, October 25, 2021 (Reuters).
Moderna says its COVID-19 vaccine protective, safe in young children
October 25, 2021 (Reuters) – Moderna.
Hurricane Rick makes landfall on Michoacan’s coast
MEXICO CITY (Reuters) – The eye.
Bus accident on the Felipe Carrillo Puerto-Chetumal highway leaves 3 dead and several injured
Chetumal, Quintana Roo, (October 25, 2021).-.
These are the vaccination rules in the U.S. for international travel reopening on Nov. 8
WASHINGTON, Oct 25 (Reuters) – The.
Container shortage impacts imports to the Port of Progreso
Foreign trade agencies begin to feel.
An oversight almost cost the life of a two-year-old baby in Tizimín
After drinking rat poison, a 2-year-old.
Two drunk men jumped from the dock of Progreso, they were rescued by local police (VIDEO)
Agents of the Progreso Ecological Police.