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Online Travel Agent Global Market Report 2020-30: Covid 19 Growth and Change

Region:Global

Product Code:7504

Download Sample Report
Published On

May 2020

Total pages

200

About the Report

Major players in the online travel agent market are Booking.com, Expedia, Inc., Ctrip, TripAdvisor, Trivago, eDreams Odigeo, Despegar, MakeMyTrip, Lastminute, and On the Beach.
 
The global online travel agent market is expected to decline from USD 744.73 billion in 2019 to USD 595.78 billion in 2020 at a compound annual growth rate (CAGR) of -20%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, restriction on cross-border travel and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach USD 820.18 billion in 2023 at CAGR of 11.24%.
 
The online travel agent market consists of sales of travel services through online channels. Online travel agents or agencies are those individuals or companies that have websites that allow consumers to book various travel related services via the internet. Travel agents are engaged in sales of travel services such as flights, buses, vacation packages, hotels, and rental cars via online networks.
 
North America was the largest region in online travel agent market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.
 
In June 2018, Cleartrip, an online travel company based in India announced the acquisition of the Flyin, an online travel company based in Saudi Arabia for an undisclosed amount. This acquisition is expected to help both the companies to obtain large consumer-based and wider outreach along with expanding the presence across the Middle East and North Africa region. Both companies together are expected to contribute 60% of the market share in the future throughout the Middle East. Flyin.com provides internet-based travel services such as booking information, online ticket booking, hotel facilities, and various payment options.
 
The online travel agent market covered in this report is segmented by service type into vacation packages; transportation; accommodation and by platform into mobile/tablets based; desktop based.
 
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. According to the UNWTO estimates, the global international tourist arrivals in 2020 is predicted to fall by 20% to 30% compared to the previous year (2019), which translates into a loss of USD 30-50 billion in travel spending by the international visitors. Thus, the online travel agent market is to record a decline in 2020 owing to the impact of COVID19 across the globe. Moreover, according to Travel Daily Media's new published in September 2018, the Typhoon Mangkhut jolts Hong Kong and China leaving tourism, aviation, and transportation industry at standstill. Therefore, possibilities of natural events are probably to restraint the growth of the tourism industry including the online travel agent market during the coming years.
 
Growing initiatives by the government of various countries to promote tourism and built 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. For instance, according to the Press Information Bureau- Ministry of Tourism, Government of India's report published in July 2019, ministry of tourism is providing financial assistance under National Mission on Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASHAD) and Swadesh Darshan schemes to various state and union territories for the development of tourism-related infrastructure in the country. 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.
 
The surge 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. According to a special report on Digital 2019 published by We Are Social's in January 2019, the number of internet users in 2019 augmented to 4.39 billion than in January 2018, recording a growth of 9% or 366 million users across the globe. Furthermore, 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.

Scope of the Report

Products

1) By Service Type: Vacation Packages; Transportation; Accommodation 2) By Platform: Mobile/Tablets Based; Desktop Based

Companies

Booking.com; Expedia, Inc.; Ctrip; Triadvisor; Trivago; eDreams Odigeo; Despegar; MakeMyTrip; Lastminute; On the Beach; Alibaba Group Holding Limited; Hostelworld Group; Hotel Urbano Travel and Tourism SA; Fareportal, Inc.; Trivago GmbH; ThomasCook Group; Priceline Group Inc.; HRS; Agoda; Airbnb Inc.; Hotel.de

Table of Contents

1. Executive Summary

2. Online Travel Agent Market Characteristics

3. Online Travel Agent Market Size And Growth

3.1. Global Online Travel Agent Historic Market, 2015-2019, USD Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Online Travel Agent Forecast Market, 2019-2023F, 2025F, 2030F, USD Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Online Travel Agent Market Segmentation

4.1. Global Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Vacation Packages

Transportation

Accommodation

4.2. Global Online Travel Agent Market, Segmentation By Platform, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Mobile/Tablets Based

Desktop Based

5. Online Travel Agent Market Regional And Country Analysis

5.1. Global Online Travel Agent Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

5.2. Global Online Travel Agent Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

6. Asia-Pacific Online Travel Agent Market

6.1. Asia-Pacific Online Travel Agent Market Overview

6.2. Asia-Pacific Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

7. China Online Travel Agent Market

7.1. China Online Travel Agent Market Overview

7.2. China Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion

8. India Online Travel Agent Market

8.1. India Online Travel Agent Market Overview

8.2. India Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

9. Japan Online Travel Agent Market

9.1. Japan Online Travel Agent Market Overview

9.2. Japan Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

10. Australia Online Travel Agent Market

10.1. Australia Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

11. Indonesia Online Travel Agent Market

11.1. Indonesia Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

12. South Korea Online Travel Agent Market

12.1. South Korea Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

13. Western Europe Online Travel Agent Market

13.1. Western Europe Online Travel Agent Market Overview

13.2. Western Europe Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

14. UK Online Travel Agent Market

14.1. UK Online Travel Agent Market Overview

14.2. UK Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

15. Germany Online Travel Agent Market

15.1. Germany Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

16. France Online Travel Agent Market

16.3. France Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

17. Eastern Europe Online Travel Agent Market

17.1. Eastern Europe Online Travel Agent Market Overview

17.2. Eastern Europe Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

18. Russia Online Travel Agent Market

18.1. Russia Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

19. North America Online Travel Agent Market

19.1. North America Online Travel Agent Market Overview

19.2. North America Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

20. USA Online Travel Agent Market

20.1. USA Online Travel Agent Market Overview

20.2. USA Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

21. South America Online Travel Agent Market

21.1. South America Online Travel Agent Market Overview

21.2. South America Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

22. Brazil Online Travel Agent Market

22.1. Brazil Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

23. Middle East Online Travel Agent Market

23.1. Middle East Online Travel Agent Market Overview

23.2. Middle East Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

24. Africa Online Travel Agent Market

24.1. Africa Online Travel Agent Market Overview

24.2. Africa Online Travel Agent Market, Segmentation By Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

25. Online Travel Agent Market Competitive Landscape And Company Profiles

25.1. Online Travel Agent Market Competitive Landscape

25.2. Online Travel Agent Market Company Profiles

25.2.1. Booking.com

25.2.1.1. Overview

25.2.1.2. Products and Services

25.2.1.3. Strategy

25.2.1.4. Financial Performance

25.2.2. Expedia, Inc.

25.2.2.1. Overview

25.2.2.2. Products and Services

25.2.2.3. Strategy

25.2.2.4. Financial Performance

25.2.3. Ctrip

25.2.3.1. Overview

25.2.3.2. Products and Services

25.2.3.3. Strategy

25.2.3.4. Financial Performance

25.2.4. Triadvisor

25.2.4.1. Overview

25.2.4.2. Products and Services

25.2.4.3. Strategy

25.2.4.4. Financial Performance

25.2.5. Trivago

25.2.5.1. Overview

25.2.5.2. Products and Services

25.2.5.3. Strategy

25.2.5.4. Financial Performance

26. Key Mergers And Acquisitions In The Online Travel Agent Market

27. Online Travel Agent Market Trends And Strategies

28. Online Travel Agent Market Future Outlook and Potential Analysis

29. Appendix

29.1. Abbreviations

29.2. Currencies

29.3. Research Inquiries

29.4. The Business Research Company

29.5. Copyright And Disclaimer

 

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