What is the present valuation and projected CAGR of the online travel agent market?
The online travel agent market size has grown steadily in recent years. It will grow from $899.5 billion in 2024 to $938.15 billion in 2025 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to rise in disposable income, strong economic growth in emerging markets, rapid population growth, demographic shift, improved earning capacity, a rise in e-commerce, acceptance of solo travel and technological advances.
The online travel agent market size is expected to see strong growth in the next few years. It will grow to $1193.28 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rapidly growing urban population, increasing population growth, a shift in travel trends, the resurgence of staycation, faster economic growth, a surge in smartphone users, increased car rental opportunities, technology, and government initiatives. Major trends in the forecast period include focus on new technology developments, new and innovative product launches, focus on offering attractive packages to the solo travelers to maximize profits, focus on customer acquisition by launching direct booking platforms, focus on improving rank on search engines to attract customers, consider investing in chatbots to improve customer experiences and consider investing in acquisitions to improve user experience and to have a wider customer base.
Get Your Free Sample of The Global Online Travel Agent Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3991&type=smp
What key drivers have fueled the online travel agent market’s development over the years?
The surge in smartphone users along with growing internet penetration is anticipated to boost the online tourism industry and the business for travel agents during the period. Increasing penetration of the internet and growth in the number of smartphone users is contributing to the consumer shift towards online channels for travel ticket and hotel bookings. For instance, in December 2023, according to DemandSage, a US-based data reporting and analytics solutions provider, 86% of the population around the globe owns a smartphone. There are 6.8 billion smartphone users worldwide as of 2023. In the United States 94.4% millennials own a smartphone. Nearly half of the U.S. population dedicates 5 to 6 hours per day to using smartphones. Consequently, the rise in the number of smartphone users coupled with increasing internet penetration is forecast to propel the revenues for the growth of online travel agent market in the years to come ahead.
What is the segmentation for the online travel agent market?
The online travel agent market covered in this report is segmented –
1) By Service Type: Vacation Packages, Travel, Accommodation
2) By Platform: Mobile Or Tablet Based, Desktop Based
3) By Category: Hotel Bookings, Tickets, Others
Subsegments:
1) By Vacation Packages: All-Inclusive Packages, Customized Packages, Group Travel Packages
2) By Travel: Flight Bookings, Car Rentals, Activities And Excursions
3) By Accommodation: Hotel Bookings, Vacation Rentals, Hostels And Budget Lodging
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/online-travel-agent-global-market-report
Who are the most influential companies in the online travel agent market?
Major companies operating in the online travel agent market include Booking Holdings, Expedia Group, Airbnb, Trip.com Group Limited, TripAdvisor, eDreams Odigeo, Despegar, MakeMyTrip Limited, lastminute.com NV, Hostelworld Group, Agoda, Tiket.Com, Pegipegi.Com, Fliggy, Qunar, Qyer, Mafengwo, Cncn Travel, Elong, Lvmama, Tongcheng Network Technology Co, Tujia, Xiaozhu, Klook, Huangbaoche, Huoli, China International Travel Service Corporation Limited, Tuniu, Travelplan Australia, Traveloka, Utiket, Nusatrip, Yanolja, Daily Hotel, Hanatour, Mode Tour, Yatra, Cleartrip, Easemytrip, Goibibo, Thomas Cook India, Jtb (Japan Travel Bureau) Corporation, Jalan, Japanican.Com, Ikyu, Evolable, Ab-In-Den-Urlaub.De, Holidaycheck.De, Fluege.De, Opodo.De, Weg.De, Ltur.Com, Sherpa Expeditions, Stoke Travel, Topdeck Travel, Sicily Activities, Flag Travel Holidays, Soleto Travel, Busabout, Euroventure, Skyscanner Ltd, On The Beach Group Plc, Booking.Com Ltd, We Love Holidays Ltd, Secret Escapes Ltd, Voyage Prive Uk, Vola.Ro, Esky.Ro, Fly-Go, Oktogo, Travelata, Aviasales, Tutu.Ru, Anywayanyday, Onetwotrip, Ozon Travel, Ostrovok.Ru, Onlinetours, Hipway, Unitiki, Weatlas, Zenhotels, Hotwire, Intrepid Travel, G Adventures, Destination Services Mexico, On The Go Tours, Bel Air Travel, Canada Travels, Canuck Abroad, Flightcentre.Ca, Priceline, Lonely Planet Global Inc, Dxtravela, Decolar.Com, Submarino Viagens, Viajanet, Exodus Travels, Say Hueque Argentina Journeys, Almosafer, Contiki, Flyin, Holiday Me, Hoojoozat, Luxury Gold, Musafir, Peregrine Adventures, Rehlat, Tajawal, Trafalgar, Trexperience
What are the top industry trends projected to impact the online travel agent market?
Growing initiatives by the government of various countries to promote tourism and built strong tourism infrastructure 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. For instance, according to The Budget 2022, the Government of India allocated an additional amount of INR 2400 crores ($307.12 million) to the Ministry of Tourism. This budget is 18.42% higher than 2021-22, and it will be used by the Ministry of Tourism for developing tourism infrastructure, marketing and promotion, and capacity building. Therefore, the government initiatives and steps to promote tourism and develop tourism infrastructure are to act as a key trend in the online travel agent market over the period.
What are the major regional insights for the online travel agent market, and which region holds the top position?
The countries covered in the online travel agent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
What Does The Online Travel Agent Market Report 2025 Offer?
The online travel agent market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Online travel agents or agencies are individuals or companies with websites that allow consumers to book various travel-related services via the internet. Online travel agents invest in marketing and advertising to attract potential international customers.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3991
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
