Online Travel Booking Platform Market

Online Travel Booking Platform Market - Global
Industry Analysis, Size, Share top players are Thomas
Cook Group Plc., Airbnb Inc., Ctrip.com
The travel booking sector has undergone a huge transformation over the last couple of year
due to technology advancement and internet. Nowadays travelers prefer online booking
platforms to browse, search, and book their tickets. Online travel booking platforms provide
various booking services such as accommodation, travel, customer stay review, rental vehicles,
etc. This platform shows the information of different travel service providers and reviews about
the services they provide. It also allows customers to compare different packages and quality of
the services offered by travel agencies. For travel agencies and travel planners, the platform
helps to maintain the customer data base, their travel history, and their preferences. By
automating the online booking system, this platform saves the time of staff members from
doing manual bookings. Travel agencies are adopting the online platform to increase their
business by offering best services to customers. Authorized travel agents access online booking
platforms anytime and anywhere. This platform makes bookings faster and easier, and
increases customer conversion rate and revenue of the company by making the payment
process hassle free for customers. This system also helps them to manage reservations easily
and systematically. Several travel booking platforms are also giving instant cashbacks on travel
bookings, and offer add-on services when customers book their tickets. This in turn is attracting
the customers to book their tickets online, thus supporting the growth of the market globally.
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Growth in tourism industry coupled with increasing usage of internet and smartphones is
driving the global online travel booking platform market. However, safety related issues with
online booking is a factor which is expected to hinder the growth of the market in the coming
few years. Customers are adopting new trends in payment methods due to increasing
popularity of online travel booking platforms. Through this platform, travel agencies provide
different packages to their customers which helps them to manage their travel plans within
their budgets. Travel companies are expected to introduce advanced versions of online
platforms to maintain their dominance in the global market. Leading companies are expected
to adopt new technology in online platform development to maintain their dominance in the
global online travel booking platform market. Instant booking, cancellation of tickets, refunds,
call center support, etc. are some of the unique services the companies are providing to expand
their customer base and retain the existing customers.
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The online travel booking platform market can be segmented based on service type, platform
type, and geography. Based on service type, the market can be segmented into standalone and
packaged. Standalone services can further be bifurcated into transportation and
accommodation. By platform type, the market can be segmented into mobile based and
desktop/web based. Mobile based application is expected to generate more market share
because of increasing adoption of mobile technology. By geography, the global online travel
booking platform market is segmented into Europe, North America, South America, Asia Pacific,
and Middle East & Africa. North America is expected to be the highest revenue generating
region in the online travel booking platform market because some of the leading companies are
operating in this region. Asia Pacific is expected to be the fastest growing region in the market
because of increasing number of startups and significantly growing adoption of online payment
systems.
Key players operating in the online travel booking platform market includes Thomas Cook
Group Plc., Airbnb Inc., Ctrip.com International Ltd., Booking Holdings Inc., Expedia Inc.,
Priceline Group Inc., TripAdvisor Inc., MakeMytrip Limited, Hostelworld Group, and Fareportal
Inc. These service providers are investing considerably in research & development to use
technologies in their solutions to gain maximum market share in the next few years.
Additionally, these companies engage in partnerships with domestic players to increase their
business and gain market share in all regional markets.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative
insights, historical data, and verifiable projections about market size. The projections featured
in the report have been derived using proven research methodologies and assumptions. By
doing so, the research report serves as a repository of analysis and information for every facet
of the market, including but not limited to: Regional markets, technology, types, and
applications.
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Online Travel Booking Platform Market - Global Industry Analysis, Size, Share top players are Thomas Cook Group Plc., Airbnb Inc., Ctrip.com

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