Online Travel Booking Service Market Share, Trends, Growth Drivers, Size, Business Challenges, Opportunities and Future Competition till 2024-30

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Quick Overview of Online Travel Booking Service Market

As indicated in the most recent market research report published by MarkNtel Advisors on ‘Online Travel Booking Service Market’ the report offers a detailed evaluation of the market, featuring insights into the industry. It encompasses regional and competitor analysis, as well as recent advancements in the industry.

Online Travel Booking Service Industry Size & Future Growth Potential

The Global Online Travel Booking Service Market size is estimated to grow at a CAGR of around 11.70% during the forecast period, i.e., 2024-30. The factors that can be attributed to the growth of online travel booking services have been the increase in tourism across the globe mainly in the Middle East, North America & Europe. According to the World Tourism Organization, in 2021, Europe welcomed around 304.8 million tourists, an increase of approximately 27% as compared to 2020.

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Global Online Travel Booking Service Market Opportunity:

Surge in Wellness and Medical Tourism to Elevate the Requirement for Online Travel Booking Services – In recent years, medical tourism in countries like Japan, India, Spain, the UK, etc., has significantly increased due to the prevalence of world-class amenities and doctors in these countries. In addition, several countries like the US, Germany, and others have some of the most expensive healthcare systems. As a result, the citizens residing in these countries seek to travel to other countries for treatment to minimize medical treatment costs.

According to the International Trade Administration, in 2021, almost 3% of Americans travel overseas to countries like; Malaysia, Mexico, India, etc., for medical treatment. Owing to this surge in medical tourism, several travel booking service platforms such as Booking Med Travel, Medical Tourism.com, etc., have started offering facilities as per the patient’s medical needs. These platforms help the consumers to compare the prices & packages of different healthcare providers and ensure the booking of medical treatment procedures and other facilities. As a result, the consumer preferably opts for these solutions.

Hence, the surging medical tourism is posing an opportunity for online travel platforms to offer patients & their acquaintances suitable packages, consequently surging the demand for the Online Travel Booking Service Market in foreseen years.

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A Detailed Evaluation of Online Travel Booking Service Industry Segmentation

An in-depth evaluation of a market offers accurate data for a particular industry to help the analyst make smart strategic investment choices. Forecasts for the industry are included for the Global/Regional/National levels in the report. This market study analyzes market trends for the year 2024-2030 for each market category.

By Type
1. Vacation Package- Market Size & Forecast 2019-2030F, USD Million
2. Transportation- Market Size & Forecast 2019-2030F, USD Million
  1. Airline- Market Size & Forecast 2019-2030F, USD Million
  2. Trains- Market Size & Forecast 2019-2030F, USD Million
  3. Buses- Market Size & Forecast 2019-2030F, USD Million
  4. Cabs- Market Size & Forecast 2019-2030F, USD Million
3. Accommodation- Market Size & Forecast 2019-2030F, USD Million
  1. Hotel- Market Size & Forecast 2019-2030F, USD Million
  2. Hostel & Resorts- Market Size & Forecast 2019-2030F, USD Million
  3. Vacation Rentals- Market Size & Forecast 2019-2030F, USD Million
  4. Others (Camping & Recreation Vehicle, Timeshare Rentals, etc.) – Market Size & Forecast 2019-2030F, USD Million
4. Others (Travel Insurance Booking, Event & Attraction Booking, etc.) – Market Size & Forecast 2019-2030F, USD Million
By Booking Method
1. Direct Online Booking- Market Size & Forecast 2019-2030F, USD Million
2. Online Travel Agencies (OTAs)- Market Size & Forecast 2019-2030F, USD Million
By Platform
1. Third Party Online Portals- Market Size & Forecast 2019-2030F, USD Million
  1. Mobile Application- Market Size & Forecast 2019-2030F, USD Million
  2. Websites – Market Size & Forecast 2019-2030F, USD Million
2. Direct Portals- Market Size & Forecast 2019-2030F, USD Million
  1. Mobile Application- Market Size & Forecast 2019-2030F, USD Million
  2. Websites – Market Size & Forecast 2019-2030F, USD Million
By End Users
1. Leisure Travelers- Market Size & Forecast 2019-2030F, USD Million
2. Business Travelers- Market Size & Forecast 2019-2030F, USD Million
3. Medical and Wellness Travelers- Market Size & Forecast 2019-2030F, USD Million
By Age Group
1. Generation Z (Age 18-24) – Market Size & Forecast 2019-2030F, USD Million
2. Millennials (Ages 25-40) – Market Size & Forecast 2019-2030F, USD Million
3. Generation X (Ages 41-56) – Market Size & Forecast 2019-2030F, USD Million
4. Baby Boomers (Ages 57-75) – Market Size & Forecast 2019-2030F, USD Million
By Region
1. North America
2. South America
3. Europe
4. The Middle East & Africa
5. Asia-Pacific

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A detailed Analysis of Prominent Companies in the Online Travel Booking Service Market as per MarkNel Advisors

The latest report by MarkNtel Advisors states that the top leading players of the Online Travel Booking Service Market are:

Airbnb Inc., Expedia Inc., Booking Holdings Inc., Trip Advisor LLC, Trip.com Travel Singapore Pte. Ltd., Makemytrip Pvt Ltd., Hostelworld.com Limited, Trivago N.V., Despegar.com, Corp., Lastminute.com NV, Traveloka, CorporateFlights.com, Cleartrip Pvt. Ltd., Thomas Cook Ltd., KoreaTravelEasy Inc., Others (Yatra Online Limited, Fareportal, etc.)

Some Key Highlights of the Market Discussed in this Report

Historical performance of the industry
Future market projections
Market Insights & Growth Drivers
SWOT Analysis (Strength, Opportunities, Weaknesses, & Threats)

A Few Questions Answered in the Online Travel Booking Service Market Analysis Report

What should be the entry strategies, economic impact mitigation strategies, and marketing channels for the Online Travel Booking Service Industry?
What is the value of the Online Travel Booking Service Market? In 2030, how much will be the worth of the industry?
What are the general market trends/opportunities for Online Travel Booking Service Industry? Will the market demand rise or decline in the forecasted period?
What is the estimated demand for several product categories? What are the expected and industrial uses?

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