Online Travel Booking Market Size, Share, Trends, And Growth 2032

Global Online Travel Booking Market Size

The global Online Travel Booking market size was worth around USD 563.76 billion in 2023 and is predicted to grow to around USD 1967.79 billion by 2032 with a compound annual growth rate (CAGR) of roughly 14.90% between 2024 and 2032. 

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The report offers a valuation and analysis of the Online Travel Booking market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on value (USD Billion).

Global Online Travel Booking Market: Overview

Online travel booking helps customers as well as travel agents for booking flights, holiday tours, and hotels or restaurants. In addition to this, booking travel tickets online helps the customer to display their travel requirements like Place or Location of departure, date of departure, Time of Departure, Return Date, and Travel class. Moreover, online travel booking activities have become very swift due to the onset of the internet and have reduced the queues at the railway counters in recent years.

Online travel booking service is accessible twenty-four by seven via online browsers, websites, etc. and helps in saving time and efforts of consumers to book any sort of travel service. Currently, market players are engaged in offering travel services through mobile apps and websites, as it is one of the majorly preferred media for travel bookings, especially among young professionals. The process of online travel booking is quick and easy which is driving the global online travel booking market.

Furthermore, current times have witnessed more online booking due to real-time transactions as well as good internet speed with the launching of 4G as well as 5G infrastructure. Apparently, rise in the online travel booking activities can be credited to a rise in customer stays, tourism, medical tourism, and car rental activities.

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Global Online Travel Booking Market: Growth Drivers

Automating booking helps in saving time for the staff and this will proliferate the expansion of the online travel booking industry over the estimated timeline. Furthermore, travel agents are carrying out online booking to not only expand their business but offer the best services to the consumers. Such moves will further steer the market size in the years to come. With speedy & hassle-free online travel booking activities, the conversion rate of the end-users has surged and this has resulted in massive revenue for the travel industry in the current years.

Furthermore, an increase in smartphones as well as iPhones & tablets will prompt the expansion of the online travel booking industry over the forthcoming years. With the rise in online payment options, the market is likely to gain traction in the forthcoming years. Nevertheless, safety-related issues pertaining to online travel booking transactions can decimate the proliferation of the business in the foreseeable future.

Growing digitization and globalization globally coupled with the rising adoption of online payment is anticipated to further drive the online travel booking market over the forecast timeframe. Increasing penetration of internet, the rising disposable income of people in emerging countries and ease of comparing various travel options online is predicted to drive the online travel booking market in the future. Industry players are constantly introducing novel travel and vacation package deals to assist tourists in making proper travel decisions according to their spending capabilities, such as affordable packages for international destinations, discount on car rentals, cash back on international flights, etc. It is also simple for tourists to modify or cancel reservations online, instead of calling the hotels or airlines and waiting for a customer service representative to aid through the process of cancellation.

Global Online Travel Booking Market: Segmentation

By on service type, the online travel booking market is segmented into transportation booking, accommodation booking, and others.

By mode of booking, the market is segmented into online and direct agency.

By platform, the market is segmented into desktop and mobile.

Online Travel Booking Market: Report Scope

Global Online Travel Booking Market: Regional Analysis

North American Market To Continue Dominance During Forecast Timeline

The expansion of the industry in the North American Zone over the forecast timeline is credited to factors like the presence of strong IT infrastructure, a rise in the number of persons traveling via train, and the presence of key players in the online travel booking business. Apart from this, a rise in internet penetration, as well as smartphone & laptop use in the countries like Canada and the U.S., will further promulgate the elevation of the market in the North American sub-continent over the forecast timespan.

Key Market Players & Competitive Landscape

Key participants impacting the business growth are

• Hostelworld Group
• CheapOair.Com.
• MakeMyTrip Limited
• Tourism SA
• Priceline Group Inc.
• Hotel Urbano Travel
• Expedia, Inc.
• Trip Advisor LLC
• Trivago GmbH
• Ctrip.Com International, Ltd.
• Thomas Cook Group Plc.

This report segments the global online travel booking market into:

Global Online Travel Booking Market: Service Type Analysis

• Transportation Booking
• Accommodation Booking
• Others

Global Online Travel Booking Market: Mode of Booking Analysis

• Online
• Direct Agency

Global Online Travel Booking Market: Platform Analysis

• Desktop
• Mobile

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa