Astute Analytica released the latest report on the Online Travel Agency Market study, which will provide all the most recent market trends, which has been announced. The study also contributes to a quick estimation of the market’s size, which is expected to expand significantly over the envisioned period of time. Furthermore, new technological developments and mechanical improvements are justified when demand for this service/item increases globally.
The online travel agency market accounted US$ 850 billion in 2019. After the COVID-19 outbreak, the tourism industry has been severely affected and the annual revenue of the OTA market has been reduced by around 25% to USD 638.5 billion in 2020. The market is expected to see a positive recovery and response to after-effects of COVID-19 impact. The Online Travel Agency market is expected to generate revenue around USD 911.45 million by 2031 at a CAGR of 16.98% for the forecast period 2023-2031.
The Online Travel Agency Market research report will also provide a slice of the action for big partners who act as global-scale transformers. The major item contributions, key differentiators, income share, market size, market status, and techniques will all be taken into account in this subjective and quantitative analysis. The research will also discuss significant agreements, partnerships, and international organizations that are about to transform certain market segments on a global basis.
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The research thoroughly analyzes pricing, gross revenue (Mn), entry-level storage specs, and company profiles in a separate section with the top major players.
Leading Competitors
The major players in the market are Expedia Inc., Booking Holdings Inc., Ctrip.com International Ltd, Trivago, Tripadvisor, Makemytrip Pvt. Ltd, Thomas Cook Group PLC among others. To sustain the competitive environment, various online travel agencies are collaborating with hotel groups and transportation companies to provide affordable services to the customers. For instance, in 2018, Cleartrip acquired Flyin to gain a competitive edge and increase its customer base in the Middle East and Africa region.
The Online Travel Agency Marketsize section provides market revenue, taking into account both the market’s historical growth and future projections. The report also includes a variety of company profiles that are creating waves in their respective industries or have the potential to do so. Their profiles include the players’ market sizes, significant product launches, strategies, and other information.
The report details the overall market sales produced over time by a specific company. By factoring in product sales over a period and dividing them by the industry’s total sales over the same period, experts in the field determine to share.
The research examines the size of the global market now and its growth rates over five years. It also includes many kinds of segmentation, including geographic segmentation (North America, Europe, Asia-Pacific, etc.). Detailed market segment information aids in performance monitoring and crucial decision-making for expansion and profitability.
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Segmentation Analysis
- By Business Model
- Mega Online Travel Retailers
- Digital Tour Operators
- Mobile Travel Retailers
- Travel Marketplaces
- By Platform
- Mobile
- Desktop
- By Product/ Services
- Transportation
- Flights
- Cabs
- Hotels
- Cruises
- Activities
- Packages (End-to-end)
- Documentation
- Transportation
- By Customer Segment
- Corporate
- Personal (Individuals, groups, families)
- Students/ Professionals
- Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Rest of the world
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