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Online Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global online travel market reached a value of US$ 407.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 843.52 Billion by 2027, exhibiting a growth rate (CAGR) of 11.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Online travel agencies (OTAs) enable tourists to research and book travel services, including hotel accommodations, flights, cars, tours, and cruises, after comparing the prices, offers, discounts and access reviews. They can reduce the response time from organizations to customers with rapid online data transmission, which enhances the booking experience of the travelers. At present, hotels across the globe are relying on OTAs to obtain more visibility and increase their overall sales and profitability. 

 

 
 

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Online Travel Market Trends:

The thriving travel and tourism industry on account of the decreasing airline fares and favorable governmental policies represents one of the key factors propelling the growth of the market. OTAs offer market insights and tools for targeting tourists, securing and processing bookings, communicating with guests, and managing reviews. Moreover, leading players are focusing on aggressive promotional activities using online and television (TV) advertising, billboards and sponsorships, social media, and other marketing channels. This, coupled with the increasing sales of laptops, tablets, and smartphones, is positively influencing the market. Besides this, the Internet provides virtual representations like 3D interactive tours to convey a clear impression of the travel destinations, thereby allowing an indirect experience that surpasses the possibilities of conventional travel agents. As a result, the traditional booking method through travel agents has evolved into a fast-paced, last-minute booking approach facilitated by information and communication technologies (ICTs). This, along with the rising popularity of solo travel, is creating a positive outlook for the market. Other factors, such as rapid advancements in communication and transportation and the increasing number of business travelers worldwide, are projected to facilitate the growth of the market in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global online travel market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service type, platform, mode of booking and age group.

Breakup by Service Type:

 

 
 

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  • Transportation
  • Travel Accommodation
  • Vacation Packages
     

Breakup by Platform:

  • Mobile
  • Desktop
     

Breakup by Mode of Booking:

  • Online Travel Agencies (OTAs)
  • Direct Travel Suppliers
     

Breakup by Age Group:

  • 22-31 Years
  • 32-43 Years
  • 44-56 Years
  • Above 56 Years
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Expedia Group Inc., Fareportal Inc., Hostelworld Group plc, HRS, Hurb, MakeMyTrip Pvt. Ltd., priceline.com LLC (Booking Holdings Inc.), Thomas Cook India Ltd. (Fairfax Financial Holdings Limited), Tripadvisor Inc. and Yatra.com.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Service Type, Platform, Mode of Booking, Age Group, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Expedia Group Inc., Fareportal Inc., Hostelworld Group plc, HRS, Hurb, MakeMyTrip Pvt. Ltd., priceline.com LLC (Booking Holdings Inc.), Thomas Cook India Ltd. (Fairfax Financial Holdings Limited), Tripadvisor Inc. and Yatra.com.
Customization Scope 10% Free Customization
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Online Travel Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Service Type
    6.1    Transportation
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Travel Accommodation
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Vacation Packages
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Platform
    7.1    Mobile
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Desktop
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Mode of Booking
    8.1    Online Travel Agencies (OTAs)
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Direct Travel Suppliers
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Age Group
    9.1    22-31 Years
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    32-43 Years
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    44-56 Years
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Above 56 Years
        9.4.1 Market Trends
        9.4.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Expedia Group Inc.
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Fareportal Inc.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
        15.3.3    Hostelworld Group plc
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
        15.3.4    HRS
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5    Hurb
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
        15.3.6    MakeMyTrip Pvt. Ltd.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
        15.3.7    priceline.com LLC (Booking Holdings Inc.)
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
        15.3.8    Thomas Cook India Ltd. (Fairfax Financial Holdings Limited)
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
        15.3.9    Tripadvisor Inc.
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials
        15.3.10    Yatra.com
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio

List of Figures

Figure 1: Global: Online Travel Market: Major Drivers and Challenges
Figure 2: Global: Online Travel Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Online Travel Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Online Travel Market: Breakup by Service Type (in %), 2021
Figure 5: Global: Online Travel Market: Breakup by Platform (in %), 2021
Figure 6: Global: Online Travel Market: Breakup by Mode of Booking (in %), 2021
Figure 7: Global: Online Travel Market: Breakup by Age Group (in %), 2021
Figure 8: Global: Online Travel Market: Breakup by Region (in %), 2021
Figure 9: Global: Online Travel (Transportation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Online Travel (Transportation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Online Travel (Travel Accommodation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Online Travel (Travel Accommodation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Online Travel (Vacation Packages) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Online Travel (Vacation Packages) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Online Travel (Mobile) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Online Travel (Mobile) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Online Travel (Desktop) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Online Travel (Desktop) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Online Travel (Online Travel Agencies (OTAs)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Online Travel (Online Travel Agencies (OTAs)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Online Travel (Direct Travel Suppliers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Online Travel (Direct Travel Suppliers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Online Travel (22-31 Years) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Online Travel (22-31 Years) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Online Travel (32-43 Years) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Online Travel (32-43 Years) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Online Travel (44-56 Years) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Online Travel (44-56 Years) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Online Travel (Above 56 Years) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Online Travel (Above 56 Years) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: North America: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: North America: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: United States: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: United States: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Canada: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Canada: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Asia-Pacific: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Asia-Pacific: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: China: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: China: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Japan: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Japan: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: India: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: India: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: South Korea: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: South Korea: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Australia: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Australia: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Indonesia: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Indonesia: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Others: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Europe: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Europe: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Germany: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Germany: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: France: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: France: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: United Kingdom: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: United Kingdom: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Italy: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Italy: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Spain: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Spain: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Russia: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Russia: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Others: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Latin America: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Latin America: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Brazil: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Brazil: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Mexico: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Mexico: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Others: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Others: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Middle East and Africa: Online Travel Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Middle East and Africa: Online Travel Market: Breakup by Country (in %), 2021
Figure 79: Middle East and Africa: Online Travel Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Global: Online Travel Industry: SWOT Analysis
Figure 81: Global: Online Travel Industry: Value Chain Analysis
Figure 82: Global: Online Travel Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Online Travel Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Online Travel Market Forecast: Breakup by Service Type (in Million US$), 2022-2027
Table 3: Global: Online Travel Market Forecast: Breakup by Platform (in Million US$), 2022-2027
Table 4: Global: Online Travel Market Forecast: Breakup by Mode of Booking (in Million US$), 2022-2027
Table 5: Global: Online Travel Market Forecast: Breakup by Age Group (in Million US$), 2022-2027
Table 6: Global: Online Travel Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Online Travel Market: Competitive Structure
Table 8: Global: Online Travel Market: Key Players


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Key Questions Answered in This Report

The global online travel market was valued at US$ 407.1 Billion in 2021.

We expect the global online travel market to exhibit a CAGR of 11.70% during 2022-2027.

The expanding travel and tourism industry, along with the rising utilization of online travel agencies across numerous hotels to ensure more visibility and increase their overall sales and profitability, is currently catalyzing the global online travel market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary restrictions on national and international travel activities, thereby limiting the overall demand for online travel.

Based on the service type, the global online travel market has been segmented into transportation, travel accommodation, and vacation packages. Among these, travel accommodation holds the majority of the total market share.

Based on the platform, the global online travel market can be divided into mobile and desktop, where desktop currently exhibits a clear dominance in the market.

Based on the mode of booking, the global online travel market has been categorized into Online Travel Agencies (OTAs) and direct travel suppliers. Currently, direct travel suppliers account for the majority of the global market share.

Based on the age group, the global online travel market can be segregated into 22-31 years, 32-43 years, 44-56 years, and above 56 years. Among these, 32-43 years age group currently holds the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global online travel market include Expedia Group Inc., Fareportal Inc., Hostelworld Group plc, HRS, Hurb, MakeMyTrip Pvt. Ltd., priceline.com LLC (Booking Holdings Inc.), Thomas Cook India Ltd. (Fairfax Financial Holdings Limited), Tripadvisor Inc., and Yatra.com.

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