Global Online Travel Agent Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

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.

Global Online Travel Agent Market Size And Drivers:

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 online travel agent market is expected to reach $833.52 billion in 2025 at a CAGR of 10%. 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.

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Trends In The Global Online Travel Agent Market

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.

Global Online Travel Agent Market Segments:
The global online travel agent market is further segmented –
By Service Type: Vacation Packages, Transportation, Accommodation
By Platform: Mobile/Tablets Based, Desktop Based
By Category: Hotel Bookings, Tickets, Others
By Geography: The global online travel agent market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Online Travel Agent Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides online travel agent market overviews, analyzes and forecasts market size and growth for the global online travel agent market, online travel agent market share, online travel agent market players, online travel agent market segments and geographies, online travel agent market’s leading competitors’ revenues, profiles and market shares. The online travel agent market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.