Online Travel Market Forecast Report 2020 – 2027 – Top Key Players Analysis

1. Online Travel market

2. The GMI Research adds new research on the Online Travel market, a detailed analysis of this business space, including the emerging market trends, competitive landscape, and market size. The report covers various parameters among different segment analysis, the regional growth landscape, and an in-depth study of the industry’s competitive scenario.

3. Key Drivers of the Online Travel market: The expansion in the tourism industry, followed by the increasing penetration of internet usage and smartphone users across different countries, are the major factors that are contributing to the growth of the online travel market size. Moreover, the rising implementation of technological advancements in the online travel industry and the growing use of mobile applications has made the booking for travel more flexible and easier. This factor is further surging the growth of the market. Additionally, rapid urbanization, growing per capita income, economic growth, and changing lifestyle of the customers shifting towards more enhanced services and comfort will further surge the growth of the online travel market share in terms of revenue.

4. Various services offered by the online travel such as secure & easy payment modes, online reviews checking of the hotels and transportation ability, free & easy cancellation is another factor that will have a positive impact on the market’s demand. In addition to this, the growing trust of the customers in the online payment and the launch of the numerous advanced version of mobile applications having better deals are attracting a large number of consumers to opt for online travel services to save their time and money. On the other hand, the increasing concerns related to safety and security during online booking and payment are likely to hamper the growth of the market. With the emergence of the COVID-19 pandemic, the online travel industry has experienced a sharp fall in demand, especially in 2020. The widespread outbreak of the coronavirus at the global level has led to a complete lockdown in several countries and the sealing of the borders. Furthermore, the shutdown of the airline industry and the growing fear of catching coronavirus while traveling has pushed people to stay at their homes will negatively impact the market’s growth. However, the market is anticipated to bounce back in 2021 while growing at a faster rate from 2022 onwards.

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