How Has The Online Travel Agent Market Size Evolved Historically?
The online travel agent market has seen considerable growth due to a variety of factors.
• The growth of the online travel agent market size has been consistent over the past few years. It's expected to rise from $899.5 billion in 2024 to $938.15 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.3%.
Several factors have contributed to this growth in the past, including an increase in disposable income and robust economic expansion in emerging markets. Rapid population growth, demographic changes, improved income levels, a surge in e-commerce, a growing trend of solo travel, and technological advancements have also played a significant role.
What is the Forecasted Growth of the Online Travel Agent Market Size?
The online travel agent market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for online travel agents is anticipated to witness robust growth in the forthcoming years, reaching $1193.28 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%.
The expansion predicted during the forecast period can be credited to a swiftly expanding urban population, rise in overall population, altering travel trends, the re-emergence of staycations, accelerated economic development, a boost in smartphone usage, rise in car hire opportunities, advancements in technology, and government initiatives. Key trends to look out for within this period include emphasis on developing new technologies, launching innovative and novel products, offering enticing package deals to solo travelers to boost profits, acquiring customers through direct booking platforms, focusing on enhancing search engine ranking to pull in customers, investment in chatbots for better customer service, and considering acquisitions for a superior user experience and broader customer reach.
What Are The Key Drivers Fueling Growth In The Online Travel Agent Market?
The boom in smartphone usage coupled with expanded internet access is expected to enhance the online tourism sector and travel agency business in the coming era. The rising internet penetration and the escalating number of smartphone users have been pivotal in encouraging consumers to favor online channels when reserving travel tickets and making hotel bookings. For example, DemandSage, an American data reporting and analytics solutions company, reported in December 2023 that 86% of the world's population own a smartphone, equivalent to 6.8 billion users globally. In the United States, a whopping 94.4% of millennials possess a smartphone. Nearly half of the American population spends 5 to 6 hours daily on their smartphones. Therefore, the surge in smartphone usage, coupled with the increasing outreach of the internet, is expected to stimulate an upward trajectory in revenues for the online travel agent market in the upcoming years.
What Is The Segmentation Of The Global 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
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What Emerging Trends Are Shaping The Online Travel Agent Market Landscape?
The extensive efforts by governments worldwide to endorse tourism and establish robust tourism infrastructure, thereby augmenting tourism-related revenue, is a crucial trend fueling the online travel agent market's evolution during this period. For example, in The Budget 2022, the Indian government has assigned an additional INR 2400 crores ($307.12 million) to its Tourism Ministry. This allocation, which is 18.42% greater than that of 2021-22, will be utilized to enhance tourism infrastructure, marketing, and promotion, and to facilitate capacity building. As such, government actions and endeavors to encourage tourism and advance tourism infrastructure are slated to be a significant trend in the online travel agent market in the coming times.
Who Are the Key Players 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 Regional Insights into the Online Travel Agent Market?
Asia-Pacific was the largest region in the online travel agent market in 2024. Western Europe was the second largest region in the global online travel agent market Share. The regions covered in the online travel agent market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
