Global Online Travel Agent Market

The travel trailer and camper market consist of sales of travel trailers and campers and related services by entities (organizations, sole traders, and partnerships) that produce travel trailers and campers designed to attach to motor vehicles, pick-up coaches (i.e., campers), and caps (i.e., covers) for mounting on a pick-up truck and/or produce an automobile, utility and light-truck trailers. Travel trailers do not have their motor but are designed to be towed by a motor unit, such as an automobile or a light truck. The main types in the travel trailer and camper market are travel trailer, camper. Camper refers to a person who spends a day in a camp. The travel trailer and camper are used on-road and offroad. The global travel trailer and camper market size is expected to grow from $78.74 billion in 2021 to $88.7 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The global travel trailers and campers market is expected to grow to $137.13 billion in 2026 at a CAGR of 11.5%. Advances in technology are expected to be a continued driver of travel trailer and camper market growth in the forecast period. The global travel trailer and camper industry have experienced many technological advances in the last decade and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles in 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the travel trailer and camper market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the travel trailer and camper market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak harmed businesses throughout 2020 and into 2021.However, it is expected that the travel trailer and camper market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Travel trailer and camper manufacturers are increasingly installing solar panels in travel trailers for the creation of a sustainable environment. A travel trailer traditionally depends on the use of noisy generators for its functioning. Solar panels do not make noise and are ultra-portable, lightweight. Solar panels can be easily mounted on trailers and convert sunlight into power which can be used for the functioning of travel trailers. For instance, Renogy, Go Power and Zamp Solar are examples of companies manufacturing solar panels and related systems for travel trailers and campers. Major companies in the travel trailer and camper market include Thor Industries, Inc, REV Group, Gulf Stream Coach, Inc, Apollo Tourism & Leisure Ltd, Eclipse, Recreational Vehicles Inc, and Fleetwood Corporation Limited. Asia Pacific was the largest region in the travel trailer and camper market in 2020. North America was the second-largest region in the global travel trailer and camper market. The regions covered in the global travel trailer and camper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the travel trailer and camper market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global travel trailer and camper market is segmented - 1) By Type: Travel Trailer, Camper 2) By Application: On Road, Off Road

The credit card market consists of sales of credit card services by entities (organizations, sole traders, and partnerships) that are engaged in storing, processing, and transmitting payment card data. Credit cards are payment cards issued by banks and financial institutions that can be used to borrow funds. Credit cards are mostly used for short-term financing of consumer goods and services. The credit limit is preset depending on the borrower’s credit rating and credit cardholders are charged interest each month by the credit card provider. Only goods and services traded between entities or sold to end consumers are included. The main types of credit cards are reward cards, credit builder cards, travel credit cards, balance transfer cards, and other types. The reward card refers to the card that issues certain rewards for the credit card holder based on the reward points and even offers some special offers that can be claimed based on the points. The various card types are base, signature, and platinum. The different service providers involved are visa, Mastercard, Rupay, and other service providers. The global credit card market size is expected to grow from $99.08 billion in 2021 to $101.98 billion in 2022 at a compound annual growth rate (CAGR) of 2.9%. The global credit cards market size is expected to grow to $106.67 billion in 2026 at a CAGR of 1.1%. The rising demand for credit cards is expected to fuel the growth of the credit card market in the forecast period. The rise in demand for consumer credit and the benefits offered by credit cards encourage individuals to use credit cards. According to TransUnion CIBIL Limited, an India-based credit information company, credit card debts and the number of accounts increased by 40.7% and 29.8% respectively with 44.5 million cards in circulation in 2019. Therefore, the rising demand for credit cards drives the growth of the credit card market. The impact of COVID-19 on a new credit card is expected to hinder the growth of the credit card market. Consumers are dialing back on applying for credit cards and reducing balances as there are fewer chances to spend money due to economic recession. Also, digitally-focused businesses such as Apple, which announced the satisfactory acceptance of its Apple Card, noticed lower spending across the board. According to data from Equifax's Weekly U.S. National, Consumer Credit Trends published in July 2019, general-purpose bank credit card approvals average were around 1.2 million new cards per week until mid-March. The new accounts opened dropped to 672,000 by the week of March 29 and continued to decline to less than 500,000 new cards a week. Therefore, the impact of the COVID-19 recession restrains the growth of the credit card market. The growing technological innovation is a key trend gaining popularity in the credit card market. Major corporations are concentrating on offering digital prepaid card services in emerging economies to attract a large consumer base for a prepaid credit card. For example, in June 2020, in collaboration with the Mastercard alliance, Grab Holdings, Inc., a multinational ride-hailing company based in Singapore, launched a new card to facilitate cashless payments in the Philippines. With the card linked to Grab's prepaid wallet, which includes 53 million global merchants that accept Mastercard, users can pay for anything online. In September 2021, M2P, a company that provides digital infrastructure based in India acquired Wizi for a deal amount of $5 million. With this acquisition, the companies manage the credit card sector and enable the customers with benefits. Wizz is a company that provides credit cards based in India. Major players in the credit card market are Citibank, American Express Company, Mastercard Incorporated, Visa Inc., JPMorgan Chase & Co., Mango Financial Inc., BBVA Compass Bancshares Inc, Total System Services Inc, The PNC Financial Services Group Inc., and Capital One Financial Corporation. Asia Pacific was the largest region in the credit card market in 2021. Western Europe was the second largest region in the global credit card market. The regions covered in the global credit cards market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the credit card market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global credit card market is segmented - 1) By Type: Reward Card, Credit Builder Card, Travel Credit Card, Balance Transfer Card, Others 2) By Card Type: Base, Signature, Platinum 3) By Service Provider: Visa, Matercard, Rupay, Others

The hospital daily cash benefit insurance market consists of sales of hospital daily cash benefit insurance by entities that are engaged in directly underwriting daily hospital cash plans that provide a lump sum amount in case of hospitalization and this amount can be used as per the liberty of the insured. The main types of hospital daily cash benefit insurance are a rider, standalone cover, and part of health insurance. The rider refers to the hospital cash rider that provides a fixed benefit to the holder. The various terms of coverage include lifetime coverage, term insurance. The different benefits included are emergency admission, accident, medical treatment, surgery. The service providers involved are public and private. The global hospital daily cash benefit insurance market size is expected to grow from $36.15 billion in 2021 to $41.58 billion in 2022 at a compound annual growth rate (CAGR) of 15%. The global hospital daily cash benefit insurance market size is then expected to grow to $62.16 billion in 2026 at a CAGR of 10.6%. Rising out of the pocket health care expenditure is expected to drive the hospital's daily cash benefit insurance market. Out-of-pocket payments (OOPs) are direct payments made by individuals to healthcare providers at the time of service use. According to the Centers for Medicare and Medicaid Services (CMS) report on National Health Expenditures 2020, the expenditure grew to $4.1 trillion in 2020 and accounted for a GDP of 19.7%. During hospitalization, out-of-pocket hospital expenses include user fees, medicines, diagnostics, procedure charges, transportation, informal charges, and others that have to be borne by the insured. The hospital's daily cash benefit insurance provides a certain fixed amount to the insured during their hospital stay, which the person is free to use as per his/her need. Hence, an increase in out of the pocket health care expenditure aids in the growth of the hospital's daily cash benefit insurance market. The inability to cover the complete medical treatment expenses is anticipated to hinder the hospital's daily cash benefit insurance market’s growth. Hospital cash plans only provide a daily allowance through hospitalization instead, a health insurance plan provides more comprehensive coverage. On average, the hospital's daily cash benefit insurance provides the insured with an amount ranging from $100 to $3000 per day which is not sufficient for the complete coverage of the treatment making it a supplement to the health insurance plans. This scenario is likely to act as a hindrance to the growth of the market. Companies are collaborating with digital payment platforms for providing hospital daily cash benefits to provide a simple and hassle-free claim process to policyholders for faster reimbursement. For instance, in July 2020, ICICI Lombard partnered with Phone Pe for offering hospital daily cash benefits to phone pe users. Similarly, in October 2019, Religare Partnered with Ola and started the OlaMoney-Religare Hospicash Policy which offers the policyholder to avail the compensation of $70 per day of hospital cash for plans above $7000. In January 2020, HDFC, an Indian-based provider of housing finance with a presence in banking, life and general insurance, asset management, venture capital, real estate, education, deposits, and educational loans, acquired a majority stake in Apollo Munich health insurance for $334 million. Through this acquisition, Apollo Munich health insurance is renamed HDFC ERGO health insurance to improve customer service experience with a wider range of products and a network of 10000+ cashless hospitals. Apollo Munich health insurance is an India-based company formed by the collaboration between Apollo Hospitals and Munich which offers services such as life, health, accident, and travel insurance. Major players in the hospital daily cash benefit insurance market are Cigna Corporation, AIA Insurance Group, UnitedHealth Group Inc., Allianz SE, Zurich Insurance Group Ltd., Express Scripts Holding Company, AXA, Aviva plc, Aetna Inc., and Apollo Munich Health Insurance. North America was the largest region in the hospital daily cash benefit insurance market in 2021. Asia Pacific was the second largest market in global hospital daily cash benefit insurance market. The regions covered in the global hospital daily cash benefit insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the hospital daily cash benefit insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global hospital daily cash benefit insurance market is segmented - 1) By Type of Plan: Rider, Standalone Cover, Part of Health Insurance 2) By Term of Coverage: Lifetime Coverage, Term Insurance 3) By Benefit: Emergency Admission, Accident, Medical Treatment, Surgery 4) By Service Provider: Public, Private

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. The main types of services in online travel agent are vacation packages, transportation and accommodation. A package tour, package vacation, or package holiday is a combination of transportation and lodging advertised and offered by a tour operator. The different platforms include mobile/tablets based, desktop based and is available in various categories such as hotel bookings, tickets, others. The global online travel agent market size is expected to grow from $664.42 billion in 2021 to $761.90 billion in 2022 at a compound annual growth rate (CAGR) of 14.7%. The growth in the market 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 $1002.45 billion in 2026 at a CAGR of 7.1%. 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. For instance, according to a special report on Digital 2020 published by We Are Social’s in January 2020, the number of internet users in 2020 augmented to 4.54 billion than in January 2019, recording a growth of 7% or 298 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. Rising possibilities of uncertain events such as COVID-19 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 $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 COVID-19 across the globe. Moreover, according to Travel Daily Media news, 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. In January 2020, Despegar, a Latin America based online travel company acquired Best Day Travel Group for USD 136 million. This acquisition allows Despegar to increase revenues by 25%, further strengthening its market position as the leading travel agency both in Mexico and Latin America. Best Day Travel Group is a Mexico based online travel agency. 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, 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. and Hotel.de. Asia Pacific was the largest region in the online travel agent market in 2021. Western Europe was the second largest region in the online travel agent market. The regions covered in the online travel agent market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the online travel agent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global online travel agent market is segmented - 1) By Service Type: Vacation Packages, Transportation, Accommodation 2) By Platform: Mobile/Tablets Based, Desktop Based 3) By Category: Hotel Bookings, Tickets, Others

The travel arrangement and reservation services market consists of sales of travel arrangement and reservation services and related goods by entities (organizations, sole traders and partnerships) that provide travel agency services, arrange and assemble tours or provide other travel arrangement and reservation services. The main types of travel arrangement and reservation services are travel agencies, tour operators, convention and visitors bureaus, other travel arrangement and reservation services. A travel agency is a company that sells and arranges transportation, lodging, tours, and itineraries for tourists. The different modes of travel include domestic travel, foreign travel and has various booking modes such as online, offline. The global travel arrangement and reservation services market size is expected to grow from $266.34 billion in 2021 to $321.88 billion in 2022 at a compound annual growth rate (CAGR) of 20.9%. The growth in the market is mainly due to the companies rearranging their operations and 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 travel arrangement and reservation services market is expected to reach $630.38 billion in 2026 at a CAGR of 18.3%. Travel agencies and tour operators are increasingly using chat bots to offer personalized travel bookings to customers. A chat bot is an artificial intelligence program that can simulate a conversation with customers through messages or telephone calls and perform tasks such as ticket bookings and hotel reservations. Chat bots are an alternative to mobile applications and websites that provide personalized recommendations and bookings based on travel preferences and date of travel. For instance, Booking.com allows travellers to book flights and hotels through chat bots on Skype, Facebook Messenger and Slack. Other such chat bots include Dorothy, DoNotPay, Expedia and Air New Zealand’s Oscar. Major companies in the travel arrangement and reservation services market are BCD Travel, Travel Leaders Group, TUI Group, Booking Holdings, Expedia, CWT, Flight Centre Travel Group, TUI Airways, Tripadvisor, Inc. and Shanghai Jin Jiang International Hotels (Group) Company Limited. Western Europe was the largest region in the travel arrangement and reservation services market in 2021. Asia Pacific was the second-largest region in the travel arrangement and reservation services market. The regions covered in the travel arrangement and reservation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the travel arrangement and reservation services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global travel arrangement and reservation services market is segmented - 1) By Type: Travel Agencies, Tour Operators, Convention and Visitors Bureaus, Other Travel Arrangement and Reservation Services 2) By Mode of Travel: Domestic Travel, Foreign Travel 3) By Mode of Booking: Online, Online