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LONDON, July 21, 2022 (GLOBE NEWSWIRE) — The “Online Travel, 2022 Update – Thematic Study” report by GlobalData PLC provides an overview of the online travel theme and highlights the importance of online travel to engage with travelers and succeed. It separates. A very fragmented and crowded marketplace. This report provides a detailed industry analysis of online travel, discussing how it is used in the travel and tourism value chain.
According to a Thematic Intelligence report published by GlobalData, the global online travel intermediaries market value reached USD 236.7 billion in 2020 and is expected to grow at a CAGR of over 15% by 2025. Consumers and companies embrace online travel. Companies have been able to use online platforms to enable transactions, promote information sources, act as a key marketing tool and communicate directly with the end user. In general, leading players in travel and tourism have embraced digitalization and are focused on developing a strong online presence. To differentiate and stay ahead of the competition, the true leaders are those who understand the importance of social media and personalization and invest in technologies like big data, artificial intelligence and travel apps. Airbnb is seen as a leader in this space and has placed personalized and tailored experiences at the forefront of developments.
For more insight on Online travel market forecasting, Download a sample report
Online travel Mergers and acquisitions
As Covid-19 continues to wreak havoc on the tourism and travel industry and new tensions continue to further impact the industry, M&A activity has slowed significantly. However, there was a strong focus on M&A activity at the time involving suppliers to expand their footprint into new or existing territories by incorporating other businesses providing similar services. Another activity includes buying technology companies that focus on personalizing e-commerce services.
Learn more about key Online travel M&A transactions; Download a sample report
Key trends affecting Online travel Theme
Technology trendsS: AI and ML are innovations responsible for transforming various industries, including travel and tourism. AI refers to the construction of computer systems that can perform tasks and tasks that normally require human intelligence. AI has invaded the tourism sector and is being used to gain competitive advantage in a fragmented and highly saturated market. Machine learning is a subset of AI and is the process of learning from different types of data to make accurate predictions. Machine learning in tourism mainly uses data including statistics, photos, maps and text.
Consumer TrendS: One of the biggest trends in the travel and tourism industry that has emerged from the digital revolution is personalization. Therefore, addressing consumers’ need for personalization is more important than ever as loyalty to a specific brand grows with travelers’ loyalty to their own preferences.
To gain more insight into other trends affecting Online travel theme, Download a sample report
Online travel Value chains
The online travel value chain consists of three main areas: third party, direct suppliers and ancillary suppliers.
third party: Travelers are getting used to using third-party providers like OTAs. Companies like Expedia Group and Booking Holdings are leaders in the OTA space and have contributed significantly to the demise of in-store travel agents. OTAs have the added benefit of always being open and accessible to the customer. These companies have launched new loyalty schemes to lure customers away from in-store agents because of the benefits of signing up with an OTA. These sites offer great convenience and their property-light business models allow them to respond quickly to changes in traveler needs. Continuous investment in new technologies has paid off and will continue to pay off for OTAs.
Direct suppliers: Direct suppliers use two distribution channels when reaching a customer. A customer can register directly with the supplier or through a travel agent acting on behalf of the supplier to engage with the customer and promote the product for sale.
Auxiliary Providers: Ancillaries refer to the extras that travelers book with their trips with the basic purpose of providing more enjoyment and satisfaction. With the travel platform, travelers are going online to book all parts of their trips and ancillary providers need to adapt to accommodate this. Travel insurance is a prime example of a separately managed ancillary product. This ancillary product is now more important than ever, as travelers are putting more research into insurance due to concerns surrounding Covid-19.
General understanding of the value chain Online travel theme, Download a sample report
The leading public companies associated with Online travel Theme
- Airbnb
- Booking Holdings
- Light jet
- eDreams ODIGEO
- Expedia team
- Hilton
- Hyatt
- MakeMyTrip
- Marriott International
- TripAdvisor
Leading private companies associated with Online travel Theme
- clear journey
- Gadventures
- Hayes trip
- Brave journey
- Trivago NV
- Viatravel
To learn more about the leading companies associated with Online travel theme, Download a sample report
Online travel Sector score cards
At GlobalData, we use a scorecard approach to predict tomorrow’s top companies in each sector. Our sector scorecards have three screens: the thematic screen, the assessment screen and the threat screen. Online travel is a theme affecting the travel and tourism industry. In this report, we will focus specifically on the travel agency sector.
- Thematic screen: Our thematic screen ranks companies based on overall leadership in the 10 most important themes for their industry, a leading indicator of future performance.
- Review Screen: Our valuation screen ranks our universe of companies within the sector based on selected valuation parameters.
Scope
- This report provides an overview of online travel.
- It identifies the importance of online travel to engage with travelers and succeed in a highly fragmented and saturated marketplace.
- This report provides a detailed industry analysis of online travel, discussing how it is used in the travel and tourism value chain.
- The report highlights leading travel and tourism companies in the online travel theme, such as Booking Holdings, Trip.com Group, Expedia Group, Airbnb, Hilton and easyJet.
Reasons to buy
- Understand the impact of online travel on the tourism industry, use use cases to understand how to adapt and understand this theme.
- Review the strategies companies are adopting to succeed in online travel.
- Find companies that are leading in the space.
- To see real-world trends created by embracing online travel from across the travel and tourism space.
- The GlobalData Theme Research Ecosystem is a single integrated global research platform with an easy-to-use framework for tracking all themes across all companies across all sectors. It has a proven track record of identifying important themes early, enabling companies to make the right investments ahead of the competition and ensuring that overall competitive advantage.
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Online travel Market overview
| Market Size 2020 | 236.7 billion dollars |
| CAGR | > 15% |
| Forecast time | From 2021 to 2025 |
| Key technology trends | AI and ML, Big Data, Travel Apps, Forums, AR and VR, Blockchain and Cryptocurrency, Cybersecurity, Digital Covid-19 Certificates, Sharing Economy, Subscription Economy and Climate Conscious Alternatives |
| Key consumer trends | Personalization, Covid-19 acceleration to online booking, experience economy, short booking windows and long stays, social media, live marketing, influencers and user-generated content, virus prevention and mitigating uncertainty and home recovery |
| Value chains | Third party, direct suppliers and auxiliary suppliers |
| Leading public companies | Airbnb, Booking Holdings, easyJet, eDreams ODIGEO, Expedia Group, Hilton, Hyatt, MakeMyTrip, Marriott International, and TripAdvisor |
| Leading private companies | Cleartrip, GAdventures, Hays Travel, Intrepid Travel, Trivago NV and Vietravel |
Questions to be asked
what was Online travel Market size in 2020?
The size of the online travel market is estimated at $236.7 billion by 2020.
what is this Online travel Market growth rate?
The online travel market is expected to grow at a CAGR of over 15% from 2021 to 2025.
What are the key technology trends affecting the Online travel Theme?
Key technology trends impacting the online travel theme are AI and ML, big data, travel apps, forums, AR and VR, blockchain and cryptocurrency, cyber security, digital covid-19 certificates, sharing economy, subscription economy and climate awareness. They are options.
What are the keys? Consumer trends that affect Online travel Theme?
Key consumer trends impacting online travel themes include personalization, covid-19 acceleration to online booking, experience economy, shorter booking windows and longer stays, social media, live marketing, influencers and user-generated content, virus prevention And they are uncertainty. Sedation, and home recovery.
What are the key value chains in? Online travel Market?
The key value chains in the online travel market can be divided into three segments: third party, direct suppliers and ancillary suppliers.
Which are the leading public companies associated with Online travel Theme?
Some of the public companies related to the theme of online travel are Airbnb, Booking Holdings, easyJet, eDreams ODIGEO, Expedia Group, Hilton, Hyatt, MakeMyTrip, Marriott International and TripAdvisor.
Which are the leading private companies related to Online travel Theme?
Leading private companies associated with the online travel theme are Cleartrip, GAdventures, Hays Travel, Intrepid Travel, Trivago NV and Vietravel.
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