Global Online Travel Agency (OTA) Market Overview:
An online travel agency (OTA) is a web-based marketplace that allows consumers to research and book travel products and services such as hotels, flights, cars, tours, cruises, activities, and more directly with travel suppliers. Every day, millions of travellers around the world use OTAs to plan their leisure and business travel. OTAs provide access to your potential guests in locations and volumes that would be difficult for you to reach through your own marketing efforts. Furthermore, OTAs provide market insights and tools for targeting travellers, securing and processing bookings, communicating with guests, and managing reviews. The increase in disposable income of people in emerging markets, as well as the ease of comparing a variety of travel options online, are expected to fuel market growth.
Growth Drivers
- Rise in Internet Penetration and Innovative Mobile Apps
- Increase in International and Domestic Tourism
Roadblocks
- Stringent Government Regulations Related to Sustainable Tourism
- High Cost of Online Booking Charge
Opportunities
- Rising Opportunities in Emerging Economies
Challenges
- High Competition among Established Players
- Fluctuations in Demand Share due to Enforcement of Stringent Lockdown Measures
Competitive Landscape:
The demand for online travel agency (OTA) is increasing with each passing day. The businesses in this industry facing major competition with leading players of the market that includes Hotels.com, Agoda, Despegar, Expedia Group, Booking Holdings Inc. and others. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such as technological development, resource utilization to enhance their market position. The market leaders such as Hotels.com, Agoda, Despegar, Expedia Group, Booking Holdings Inc. and others demonstrate a market-defining vision of how online travel agency (OTA) solutions can help top-line business executives achieve their business objectives. Leaders have the ability to execute against that vision through both products and services. They have demonstrated solid business results in the form of revenue and earnings.
Some of the key players profiled in the report are Hotels.com (United States), Agoda (Singapore), Despegar (Argentina), Expedia Group (United States), Booking Holdings Inc. (United States), Trip.com (China), MakeMyTrip (India), American Express Global Business Travel (United States), Rakuten (Japan), TripAdvisor (United States), Trivago N.V. (Germany), Thomas Cook Group (United Kingdom) and Airbnb Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like eDreams ODIGEO (Spain), lastminute.com (United Kingdom), Hostelworld Group (Ireland) and Fareportal (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Online Travel Agency (OTA) market by 2027.
Considering Market by , the sub-segment i.e. will boost the Online Travel Agency (OTA) market.Latest Market Insights:
In May 2021 American Express Global Business Travel had announced the acquisition of Egencia. GBT will further continue to invest in the Egencia brand and technology as part of the world's leading business travel platform. GBT and Egencia will offer comprehensive technology and customer solutions across all segments of business travel. Combining Egencia with GBT's Supply MarketPlace, one of the most comprehensive sources of content and experiences for business travellers, would provide customers with more options and suppliers with greater access to business travellers. Meanwhile, with both the Egencia platform and GBT's Neo Technology Group, the company would be well-positioned to develop the best solutions for the future of business travel.
What Can be Explored with the Online Travel Agency (OTA) Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Online Travel Agency (OTA) Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Online Travel Agency (OTA)
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online Travel Agency (OTA) market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Online Travel Agency (OTA) market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Travel Agents/Brokers and End-use industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):
1. What is the growth rate predicted for the Global Online Travel Agency (OTA) Market?The Online Travel Agency (OTA) market is expected to see a CAGR of
% during projected year 2021 to 2027.
2. Who are the top performing companies in Online Travel Agency (OTA) Market?
Top performing companies in the Global Online Travel Agency (OTA) market are Hotels.com (United States), Agoda (Singapore), Despegar (Argentina), Expedia Group (United States), Booking Holdings Inc. (United States), Trip.com (China), MakeMyTrip (India), American Express Global Business Travel (United States), Rakuten (Japan), TripAdvisor (United States), Trivago N.V. (Germany), Thomas Cook Group (United Kingdom) and Airbnb Inc. (United States), to name a few.
3. What trending factors would impact Online Travel Agency (OTA) Market growth most?
"Emergence of AI Chabot’s" is seen as one of major influencing trends for Online Travel Agency (OTA) Market during projected period 2021-2027.