MarkNtel Advisors recently published a report, titled, ” Global Online Travel Booking Service Market Online Travel Booking Service Market Share, Size, Report – By Type (Vacation Package, Transportation [Airline, Trains, Buses, Cabs], Accommodation [Hotel, Hostel & Resorts, Vacation Rentals, Others (Camping & Recreation Vehicle, Timeshare Rentals, etc.)], Others [Travel Insurance Booking, Event & Attraction Booking, etc.]), By Booking Method (Direct Online Booking, Online Travel Agencies [OTAs]), By Platform (Third Party Online Portals [Mobile Application, Websites], Direct Portals [Mobile Application, Websites]),Other. As per as the report 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.
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Global Online Travel Booking Service Market Challenge:
Technical Glitches in the Travel Booking Applications Posing Challenges – Online Travel market platforms such as Trivago, Goibibo, etc., are made up of complex systems, software, and hardware interacting, which interact with the users. Therefore, with a sudden surge in traffic during the holiday or peak booking season, the servers become overloaded, slowing down the system and resulting in technical glitches. For instance, in 2022, MYAirline, a flight booking application, faced technical glitches due to high traffic on their website & mobile application. These technical glitches, downtime, or system failures lead to issues with bookings, payment processing, or access to information.
Moreover, these technical issues or errors within the booking system often lead to ticket cancellations & financial repercussions. Therefore, to avoid inconvenience in booking, payment processing issues, or unexpected ticket cancellations, consumers opt for traditional ticket booking rather than opting for travel booking applications, restraining market growth.
Leading Companies in Global Online Travel Booking Service Market:
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.).
Global Online Travel Booking Service Market Segmentation:
By Type
-Vacation Package- Market Size & Forecast 2019-2030F, USD Million
-Transportation- Market Size & Forecast 2019-2030F, USD Million
-Airline- Market Size & Forecast 2019-2030F, USD Million
-Trains- Market Size & Forecast 2019-2030F, USD Million
-Buses- Market Size & Forecast 2019-2030F, USD Million
-Cabs- Market Size & Forecast 2019-2030F, USD Million
-Accommodation- Market Size & Forecast 2019-2030F, USD Million
-Hotel- Market Size & Forecast 2019-2030F, USD Million
-Hostel & Resorts- Market Size & Forecast 2019-2030F, USD Million
-Vacation Rentals- Market Size & Forecast 2019-2030F, USD Million
-Others (Camping & Recreation Vehicle, Timeshare Rentals, etc.) – Market Size & Forecast 2019-2030F, USD Million
-Others (Travel Insurance Booking, Event & Attraction Booking, etc.) – Market Size & Forecast 2019-2030F, USD Million
By Booking Method
-Direct Online Booking- Market Size & Forecast 2019-2030F, USD Million
-Online Travel Agencies (OTAs)- Market Size & Forecast 2019-2030F, USD Million
By Platform
-Third Party Online Portals- Market Size & Forecast 2019-2030F, USD Million
-Mobile Application- Market Size & Forecast 2019-2030F, USD Million
-Websites – Market Size & Forecast 2019-2030F, USD Million
-Direct Portals- Market Size & Forecast 2019-2030F, USD Million
-Mobile Application- Market Size & Forecast 2019-2030F, USD Million
-Websites – Market Size & Forecast 2019-2030F, USD Million
By End Users
-Leisure Travelers- Market Size & Forecast 2019-2030F, USD Million
-Business Travelers- Market Size & Forecast 2019-2030F, USD Million
-Medical and Wellness Travelers- Market Size & Forecast 2019-2030F, USD Million
By Age Group
-Generation Z (Age 18-24) – Market Size & Forecast 2019-2030F, USD Million
-Millennials (Ages 25-40) – Market Size & Forecast 2019-2030F, USD Million
-Generation X (Ages 41-56) – Market Size & Forecast 2019-2030F, USD Million
-Baby Boomers (Ages 57-75) – Market Size & Forecast 2019-2030F, USD Million
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By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
Key questions answered in the Global Online Travel Booking Service Market are:
•What is Global Online Travel Booking Service Market?
•What was the market size in 2023?
•What is the growth rate of the Global Online Travel Booking Service Market?
•Which are the factors expected to drive the market growth?
•What are the different segments of the Global Online Travel Booking Service Market?
•What segments are covered in the Market?
•Who are the key players in the Global Online Travel Booking Service Market?
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