LONDON, July 21, 2022 (GLOBE NEWSWIRE) -- The “ Online Travel, 2022 Update – Thematic Research ” report offered by GlobalData Plc provides an overview of the online travel theme and identifies the need for online travel to engage with travelers and succeed in a highly fragmented and saturated marketplace. This report also provides a detailed industry analysis of online travel, discussing how it is being utilized across the travel and tourism value chain.
According to the thematic intelligence report published by GlobalData, the global online travel intermediaries’ market value reached $236.7 billion in 2020 and is expected to grow at a CAGR of more than 15% by 2025. Technology and digitization continue to revolutionize the travel industry as both consumers and companies embrace online travel. Companies have been able to utilize online platforms as a way of enabling transactions, promoting sources of information, as a key marketing tool, and directly communicating with the end-user. In all, the leading players in travel and tourism are those that have embraced digitalization and focused on developing a robust online presence. To differentiate and stay ahead of the competition, the true leaders are those that have recognized the importance of social media and personalization and invested in technologies such as Big Data, artificial intelligence, and travel apps. Airbnb is seen as a leader in this space and has placed personalized and curated experiences at the forefront of its developments.
For more insights on the online travel market forecast, download a sample report
Online Travel Mergers and Acquisitions
As COVID-19 decimated the tourism and travel industry and emerging strains continue to further impact the industry, M&A activity has slowed considerably. Nevertheless, over the period there has been a marked focus on M&A activity involving providers acquiring other businesses that offer similar services to expand their footprints into new or existing territories. Other activity includes the acquisition of technology firms that provide e-commerce services with a personalization focus.
To know more about key online travel M&A transactions, download a sample report
Key Trends Impacting the Online Travel Theme
Technology Trend s : AI and ML are innovative inventions responsible for revolutionizing various industries, including travel and tourism. AI refers to the development of computer systems that can perform tasks and activities that normally require human intelligence. AI has invaded the tourism sector and is being used to gain a competitive advantage in a fragmented, highly saturated market. Machine learning is a subset of AI and is a process of learning from different types of data to make accurate predictions. Machine learning in tourism mainly uses data including statistics, photos, maps, and texts.
Consumer Trend s : One of the biggest trends in the travel and tourism industry that has emerged from the digital revolution is that of personalization. Hence, addressing consumer desire for personalization is now more important than ever as loyalty to a particular brand is increasingly being replaced by travelers’ loyalty to their own preferences.
For more insights on other trends impacting the 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 becoming increasingly accustomed to using third-party suppliers such as OTAs. Companies such as Expedia Group and Booking Holdings are leaders in the OTA space and have largely contributed to the demise of in-store travel agents. OTAs have the added advantage of always being open and accessible for a customer. These firms have pioneered new types of loyalty schemes to divert customers away from the in-store agent due to the benefits booking with an OTA can offer. These sites offer high levels of convenience and their asset-light business models allow them to react quickly to changes in traveler demands. Continuous investment in the latest technologies has paid, and will continue to pay, dividends for OTAs.
Direct Suppliers: Direct suppliers tend to utilize two distribution channels when reaching a customer. A customer can book directly with the supplier or through a travel agent who acts on the supplier’s behalf to engage with the customer and promote the product for sale.
Ancillary Suppliers: Ancillary suppliers refer to the extras that travelers book along with their trips, with the fundamental purpose of providing more enjoyment and satisfaction. In the travel arena, travelers are moving online to book all parts of their trips and ancillary suppliers must adapt to accommodate this. Travel insurance is a prime example of an ancillary product that is booked individually. This ancillary product is now more important than ever, with travelers putting additional research into insurance due to concerns around COVID-19.
For comprehensive insights on the value chain of the online travel theme, download a sample report
Leading Public Companies Associated with the Online Travel Theme
- Booking Holdings
- eDreams ODIGEO
- Expedia Group
- Marriott International
Leading Private Companies Associated with the Online Travel Theme
- Hays Travel
- Intrepid Travel
- Trivago NV
To know more about leading companies associated with the online travel theme, download a sample report
Online Travel Sector Scorecards
At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecards have three screens: a thematic screen, a valuation screen, and a risk screen. Online travel is a theme that impacts the travel and tourism industry. In this report, we focus specifically on the travel intermediary’s sector.
- Thematic screen: Our thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
- Valuation screen: Our valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
- This report provides an overview of online travel.
- It identifies the need for 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 being utilized across the travel and tourism value chain.
- The report highlights travel and tourism companies that are leading 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, using use cases to help you understand how you can adapt and understand this theme.
- Assess the strategies that companies are adopting to succeed in online travel.
- Discover companies that are leading in the space.
- To view real-world trends created by the adoption of online travel from across the travel & tourism space.
- GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
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Online Travel Market Overview
|Market Size 2020||$236.7 billion|
|Forecast Period||2021 to 2025|
|Key Technology Trends||AI and ML, Big Data, Travel Apps, Conversational Platforms, AR and VR, Blockchain and Cryptocurrency, Cybersecurity, Digital COVID-19 Certificates, Sharing Economy, Subscription Economy, and Climate Conscious Options|
|Key Consumer Trends||Personalization, COVID-19 Accelerating Move Towards Online Booking, Experience Economy, Shorter Booking Windows & Longer Stays, Social Media, Livestream Shopping, Influencers and User-Generated Content, Promotion of Virus Prevention and Uncertainty Alleviation, and Domestic Recovery|
|Value Chains||Third Party, Direct Suppliers, and Ancillary 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 |
What was the online travel market size in 2020?
The online travel market size was valued at $236.7 billion in 2020.
What is the online travel market growth rate?
The online travel market is expected to grow at a CAGR of more than 15% from 2021 to 2025.
What are the key technology trends impacting the online travel theme?
The key technology trends impacting the online travel theme are AI and ML, big data, travel apps, conversational platforms, AR and VR, blockchain and cryptocurrency, cybersecurity, digital COVID-19 certificates, sharing economy, subscription economy, and climate conscious options.
What are the key consumer trends impacting the online travel theme?
The key consumer trends impacting the online travel theme are personalization, COVID-19 accelerating move towards online booking, experience economy, shorter booking windows & longer stays, social media, livestream shopping, influencers and user-generated content, promotion of virus prevention and uncertainty alleviation, and domestic recovery.
What are the key value chains in the 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 the online travel theme?
Some of the public companies associated with the online travel theme are Airbnb, Booking Holdings, easyJet, eDreams ODIGEO, Expedia Group, Hilton, Hyatt, MakeMyTrip, Marriott International, and TripAdvisor.
Which are the leading private companies associated with the online travel theme?
The leading private companies associated with the online travel theme are Cleartrip, GAdventures, Hays Travel, Intrepid Travel, Trivago NV, and Vietravel.
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