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Online Travel Market – Global Opportunities & Forecast, 2020-2027

The major factors accelerating the growth of the global online travel market include the rising tourism industry, coupled with the growing penetration of internet usage and smartphone users across numerous countries. In addition to this, the growing implementation of technological advancements in the online travel industry and the increasing use of mobile applications has made the booking to travel more flexible and easier. <br><br>Visit: https://www.gmiresearch.com/report/online-travel-market/

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Online Travel Market – Global Opportunities & Forecast, 2020-2027

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  1. Report Title Online Travel Market – Global Opportunities & Forecast, 2020- 2027 GMI Research GMI Research See the Future Insights 1

  2. GMI Research market report focuses on providing an overview of the industry through detailed market segmentation. The report has information related to the overview and scope of the market followed by the key drivers, restraints, and emerging trends in the market. This report is especially designed to include both qualitative and quantitative aspects of the industry in each region and country included in the study. List of Significant Manufacturers in the Online Travel Market include: •Booking Holdings Inc. •Expedia Group •Trip.com Group Limited •TripAdvisor LLC •Hurb •Hostelworld Group •CheapOair.Com •Thomas Cook Group plc •Trivago •MakeMyTrip Pvt. Ltd. Online Travel Market Drivers and Restraints: The major factors accelerating the growth of the global online travel market include the rising tourism industry, coupled with the growing penetration of internet usage and smartphone users across numerous countries. In addition to this, the growing implementation of technological advancements in the online travel industry and the increasing use of mobile applications has made the booking to travel more flexible and easier. This factor is further propelling the growth of the global online travel market. Moreover, growing per capita income, rapid urbanization, economic growth, and shifting lifestyle of the customers shifting towards more improved services and comfort will positively influence the growth of the market. Various services provided by online travel, including online reviews checking of the hotels and transportation ability, secure & easy payment modes, free & easy cancellation, is a factor bolstering the demand for online travel among the customers 2

  3. across the world. The rising trust of the customers in online payment and the introduction of the numerous advanced versions of mobile applications having better deals are the factors boosting the growth of the global online travel market. On the other hand, the factors that are hindering the growth of the global online travel market include growing concerns regarding safety and security during online booking and payment. With the outbreak of the COVID-19 pandemic, the online travel industry has experienced a sharp fall in demand, particularly in 2020. The widespread emergence of the coronavirus worldwide has resulted in complete lockdown in various countries and sealing the borders. In addition to this, the shutdown of the airline industry and the rising fear of catching coronavirus while traveling has pushed people to stay at their homes. All these factors have negatively influenced the growth of the market. However, the market is expected to bounce back in 2021 while growing at a significant rate from 2022 onwards. Segmentation: Online Travel Market Online Travel Market: By Mode of Booking •Direct Travel Suppliers •Online Travel Agencies (OTAs) Online Travel Market: By Types of Platform •Desktop •Mobile Online Travel Market: By Services Type •Travel Accommodation •Transportation •Vacation Packages Online Travel Market: By Age Group •22-31 •32-43 •44-56 •>56 3

  4. Online Travel Market: By Region •North America oUnited States of America oCanada •Asia Pacific oChina oJapan oIndia oRest of APAC •Europe oUnited Kingdom oGermany oFrance oSpain oRest of Europe •RoW oBrazil oSouth Africa oSaudi Arabia oUAE oRest of the world (remaining countries of the LAMEA region) About GMI Research GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst uses a tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on the niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries. Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon 4

  5. India Magazine in 2018, we at GMI Research look forward to help businesses stay ahead of the curve. 5

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