Online Travel Agency Market By Type (B2C and B2B), By Application (Hotels, Rent a Car, Flights, and Ticketing), Industry Trends, Estimation & Forecast, 2023-2030

Market Overview

Online travel agencies are e-platforms that assist customers in booking hotel accommodation, travel vehicles, flights, and other such necessary arrangements. Travellers then do not have to worry about long queues and seat availability once they reach their destination. The travel agencies offer a plethora of services that aim to enrich the experience of travellers during their stay, ensuring possibilities of repetitive use of the services for various destinations.

Market Dynamics

The ease of convenience in online bookings and payment, high penetration of internet connectivity in emerging countries, and rise in mobile apps for availing quick services are the primary factors driving the market growth. Travellers can easily avail better offers and promotional incentives on such ticketing and booking platforms regularly, which would help them create cost-effective travel plans. The availability of booking services through mobile and desktop apps have generated additional customer interest as it increases the accessibility of services to a broader consumer base. The increasing number of customers getting access to proper internet connectivity would also influence high traffic on such websites, propelling the market growth prospects. However, instances of security breaches and privacy issues might hamper the market growth. The rising cases of phishing attacks on vulnerable travel websites with the malicious intention of personal data and information theft might also inhibit the growth prospects of the market. The incorporation of data analytics into online travel platforms and marketing media initiatives on social media sites would provide lucrative opportunities for the market in the coming years. The use of automated and virtual technologies with a significantly large dataset would help the online travel agencies to strategize accordingly and target demand-rich areas for continued business expansion.
 
Market Segmentation

The global Online Travel Agency market is mainly classified based on Type and Application. Type is further segmented into B2C and B2B. By Application, the market is divided into Hotels, Rent a Car, Flights, and Ticketing.
The B2B segment by Type would hold a substantial share in terms of overall market value owing to the continued business collaborations and financial agreements between online travel agencies and several service providers that fulfil all requirements of the travellers in real-time.

In terms of Application, the Rent a Car segment is poised to witness high growth during the forecast period owing to the continued customer interest in self-driven cars, and rise in travelling over short distances for leisure activities.

Regional Analysis

Based on geography, the global Online Travel Agency market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

The region of North America would hold a significant share in terms of overall value during the forecast period owing to the frequent online bookings of holiday destinations by customers using efficient payment methods and aggressive marketing initiatives undertaken by the regional companies over social media sites.

Competitive landscape

The Online Travel Agency market is highly fragmented, with several global and local companies offering cost-effective services to the customers, along with several financial incentives and service add-ons. The continued entry of new players into the market and expansion of services portfolio for global players would further intensify the market competitiveness.

Key players operating in the Online Travel Agency industry include Booking Holdings, CheapOair, Ctrip, eDreams Odigeo, Expedia, FlixMobility GmbH, Hostelworld Group, HRS Group, HURB Co S/A, MakeMyTrip Limited, Ryanair DAC, TBO Group, Thomas Cook Group plc, Travelgenio, TripAdvisor LLC, Trivago N.V., Tuniu Corporation, and Webjet.

Covid-19 Analysis

The current restrictions on travel and ban on interstate movement in major countries of the world would have a severe, long-lasting effect on the Online Travel Agency market, with companies poised to lose significant revenue and income streams before the market goes back to normal. It would take substantial time before the continued spread of the virus on a worldwide scale can be diminished, and till then the travel restrictions would be in place. The elimination of all forms of travel has been touted as the primary measure to contain the spread of the virus, which would hurt the interests of online travel agencies. Meanwhile, the companies would have to adopt several cost-cutting initiatives and continue to depend on federal financial packages to survive the period of uncertainty, with job cuts and service closures prominently featuring as initiatives to divert from bankruptcy. The uncertainty in customer perception towards air and ground travel once restrictions are lifted would further hinder the business interests of the companies. The key players would have to rethink strategies and set revised objectives once all forms of travel resume, with the market scenario expected to return to normalcy from 2022 onwards.

Online Travel Agency Market Key Segments

By Type
• B2C
• B2B

By Application
• Hotels
• Rent a Car
• Flights
• Ticketing

Key Global Online Travel Agency Industry Players

• Booking Holdings
• CheapOair
• Ctrip
• eDreams Odigeo
• Expedia
• FlixMobility GmbH
• Hostelworld Group
• HRS Group
• HURB Co S/A
• MakeMyTrip Limited
• Ryanair DAC
• TBO Group
• Thomas Cook Group plc
• Travelgenio
• TripAdvisor LLC
• Trivago N.V.
• Tuniu Corporation
• Webjet

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Online Travel Agency Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Ease of convenience in online bookings and payment
3.3.2. High penetration of internet connectivity in emerging countries
3.3.3. Rise in mobile apps for availing quick services
3.4. Restraints
3.4.1. Instances of security breach and privacy issues
3.5. Opportunity
3.5.1. Incorporation of data analytics into online travel platforms
3.5.2. Marketing media initiatives on social media sites
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. B2C
4.2.1. Market Size & Forecast
4.3. B2B
4.3.1. Market Size & Forecast

5. Application Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Hotels
5.2.1. Market Size & Forecast
5.3. Rent a Car
5.3.1. Market Size & Forecast
5.4. Flights
5.4.1. Market Size & Forecast
5.5. Ticketing
5.5.1. Market Size & Forecast

6. Online Travel Agency Market Regional Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. North America Online Travel Agency Market
6.2.1. North America Market Size & Forecast, By Country
6.2.2. North America Market Size & Forecast, By Type
6.2.3. North America Market Size & Forecast, By Application
6.2.4. U.S.
6.2.4.1. Market Size and Forecast
6.2.5. Canada
6.2.5.1. Market Size and Forecast
6.2.6. Mexico
6.2.6.1. Market Size and Forecast
6.3. Europe Online Travel Agency Market
6.3.1. Europe Market Size & Forecast, By Country
6.3.2. Europe Market Size & Forecast, By Type
6.3.3. Europe Market Size & Forecast, By Application
6.3.4. Germany
6.3.4.1. Market Size and Forecast
6.3.5. France
6.3.5.1. Market Size and Forecast
6.3.6. UK
6.3.6.1. Market Size and Forecast
6.3.7. Italy
6.3.7.1. Market Size and Forecast
6.3.8. Russia
6.3.8.1. Market Size and Forecast
6.3.9. Rest of Europe
6.3.9.1. Market Size and Forecast
6.4. Asia-Pacific Online Travel Agency Market
6.4.1. Asia-Pacific Market Size & Forecast, By Country
6.4.2. Asia-Pacific Market Size & Forecast, By Type
6.4.3. Asia-Pacific Market Size & Forecast, By Application
6.4.4. Japan
6.4.4.1. Market Size and Forecast
6.4.5. China
6.4.5.1. Market Size and Forecast
6.4.6. Australia
6.4.6.1. Market Size and Forecast
6.4.7. India
6.4.7.1. Market Size and Forecast
6.4.8. South Korea
6.4.8.1. Market Size and Forecast
6.4.9. Rest of Asia-Pacific
6.4.9.1. Market Size and Forecast
6.5. South America Online Travel Agency Market
6.5.1. South America Market Size & Forecast, By Country
6.5.2. South America Market Size & Forecast, By Type
6.5.3. South America Market Size & Forecast, By Application
6.5.4. Brazil
6.5.4.1. Market Size and Forecast
6.5.5. Argentina
6.5.5.1. Market Size and Forecast
6.5.6. Rest of South America
6.5.6.1. Market Size and Forecast
6.6. Middle East & Africa Online Travel Agency Market
6.6.1. Middle East & Africa Market Size & Forecast, By Country
6.6.2. Middle East & Africa Market Size & Forecast, By Type
6.6.3. Middle East & Africa Market Size & Forecast, By Application
6.6.4. GCC Countries
6.6.4.1. Market Size and Forecast
6.6.5. Egypt
6.6.5.1. Market Size and Forecast
6.6.6. South Africa
6.6.6.1. Market Size and Forecast
6.6.7. Rest of Middle East & Africa
6.6.7.1. Market Size and Forecast

7. Company Profile
7.1. Booking Holdings
7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
7.1.2. Booking Holdings Product Category, Application, and Specification
7.1.3. Booking Holdings Financial Performance (2016-2018)
7.1.4. Main Business/Business Overview
7.2. CheapOair
7.3. Ctrip
7.4. eDreams Odigeo
7.5. Expedia
7.6. FlixMobility GmbH
7.7. Hostelworld Group
7.8. HRS Group
7.9. HURB Co S/A
7.10. MakeMyTrip Limited
7.11. Ryanair DAC
7.12. TBO Group
7.13. Thomas Cook Group plc
7.14. Travelgenio
7.15. TripAdvisor LLC
7.16. Trivago N.V.
7.17. Tuniu Corporation
7.18. Webjet