DUBLIN, Sept. 11, 2020 /PRNewswire/ — The “Online Travel Agent Global Market Report 2020-30: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com’s offering.
The global online travel agent market is expected to decline from $744.73 billion in 2019 to $595.78 billion in 2020 at a compound annual growth rate (CAGR) of -20%.
The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, restriction on cross-border travel and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $820.18 billion in 2023 at CAGR of 11.24%.
Rising possibilities of uncertain events such as COVID-19 outbreak or natural calamities is projected to limit the growth of the tourism industry and online travel agents. According to the UNWTO estimates, the global international tourist arrivals in 2020 is predicted to fall by 20% to 30% compared to the previous year (2019), which translates into a loss of $30-50 billion in travel spending by the international visitors.
Thus, the online travel agent market is to record a decline in 2020 owing to the impact of COVID-19 across the globe. Moreover, according to Travel Daily Media’s new published in September 2018, the Typhoon Mangkhut jolts Hong Kong and China leaving tourism, aviation, and transportation industry at standstill. Therefore, possibilities of natural events are probably expected to restrain the growth of the tourism industry including the online travel agent market during the coming years.
Growing initiatives by the government of various countries to promote tourism and built strong tourism infrastructure in order to boost the revenues generated from the tourism industry is a major trend propelling the growth of the online travel agent market during the period.
North America was the largest region in online travel agent market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.
Major players in the online travel agent market are Booking.com, Expedia, Inc., Ctrip, TripAdvisor, Trivago, eDreams Odigeo, Despegar, MakeMyTrip, Lastminute, and On the Beach.
Key Topics Covered:
1. Executive Summary
2. Online Travel Agent Market Characteristics
3. Online Travel Agent Market Size and Growth
3.1. Global Online Travel Agent Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Online Travel Agent Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Online Travel Agent Market Segmentation
4.1. Global Online Travel Agent Market, Segmentation by Service Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Vacation Packages
- Transportation
- Accommodation
4.2. Global Online Travel Agent Market, Segmentation by Platform, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Mobile/Tablets Based
- Desktop Based
5. Online Travel Agent Market Regional and Country Analysis
5.1. Global Online Travel Agent Market, Split by Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Online Travel Agent Market, Split by Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Online Travel Agent Market
7. China Online Travel Agent Market
8. India Online Travel Agent Market
9. Japan Online Travel Agent Market
10. Australia Online Travel Agent Market
11. Indonesia Online Travel Agent Market
12. South Korea Online Travel Agent Market
13. Western Europe Online Travel Agent Market
14. UK Online Travel Agent Market
15. Germany Online Travel Agent Market
16. France Online Travel Agent Market
17. Eastern Europe Online Travel Agent Market
18. Russia Online Travel Agent Market
19. North America Online Travel Agent Market
20. USA Online Travel Agent Market
21. South America Online Travel Agent Market
22. Brazil Online Travel Agent Market
23. Middle East Online Travel Agent Market
24. Africa Online Travel Agent Market
25. Online Travel Agent Market Competitive Landscape and Company Profiles
25.1. Online Travel Agent Market Competitive Landscape
25.2. Online Travel Agent Market Company Profiles
25.2.1. Booking.com
25.2.2. Expedia, Inc.
25.2.3. Ctrip
25.2.4. Triadvisor
25.2.5. Trivago
26. Key Mergers and Acquisitions in the Online Travel Agent Market
27. Online Travel Agent Market Trends and Strategies
28. Online Travel Agent Market Future Outlook and Potential Analysis
Companies Mentioned
- Booking.com
- Expedia, Inc.
- Ctrip
- Triadvisor
- Trivago
- eDreams Odigeo
- Despegar
- MakeMyTrip
- Lastminute
- On the Beach
- Alibaba Group Holding Limited
- Hostelworld Group
- Hotel Urbano Travel and Tourism SA
- Fareportal, Inc.
- Trivago GmbH
- ThomasCook Group
- Priceline Group Inc.
- HRS
- Agoda
- Airbnb Inc.
- Hotel.de
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