Online Travel Bookings Market Competition Analysis

The KBV Cardinal Matrix is a visual representation about the key players in the industry. The matrix is designed considering the major strategic developments including Mergers & Acquisitions, product launches, partnership among others and the financial strength of the company in the considered years. The Online Travel Bookings Market is expected to reach $1,143.6 billion by 2023, rising at a market growth of 10.8% CAGR during the forecast period. Based on the Analysis presented in the Cardinal matrix, Priceline Group Inc. and Expedia, Inc. are the forerunners in the Online Travel Bookings market.

KBV Cardinal Matrix – Online Travel Bookings Market Competition

Source: KBV Research Analysis, Company Publications and Secondary Research

Companies are doing partnerships and collaborations in order to enhance their market reach in online travel booking market space. For example, Expedia, Inc. has announced a new partnership with Marriott International, Inc., which integrates Expedia’s technology to power Marriott’s own dynamic packaging platform "Vacations by Marriott" on Marriott.com. Recently, Expedia, Inc., and SilverRail Technologies, Inc. entered into definitive agreement in which Expedia® will acquire a majority stake of SilverRail.

The Online Travel Bookings Market is expected to attain a market size of $1,143.6 billion by 2023, growing at a CAGR of 10.8% during the forecast period. Online travel providers seek to make the process of travel planning and bookings simple and easy for customers. The online travel market is majorly driven by factors such as quick and convenient flight and hotel bookings, safer online payment methods, availability of multiple choices and comparison options. Leading players in the market are focused on offering travel services through different platform such as mobile websites and apps to attract young and professional crowd.

The level of internet adoption has steeply risen due to the widespread acceptance of online travel market. The online travel market would witness growth due to rising disposable incomes in the masses within the emerging regions, easy comparison of travel options, and others.

Based on Service Types, the market is segmented into Transportation, Accommodation, and Others. Based on Mode of Bookings, the market is segmented into Online Travel Agencies and Direct Travel Facilitators. Based on Platform Types, the market is segmented into Mobile Based and Desktop Based. Based on Age Groups, the market is segmented into 30-45, 46 – 56, 20 – 30, and 57 & above. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa.

Companies such as TripAdvisor LLC, Fareportal (Cheapoair.Com) and MakeMytrip Limited are some of the key innovators in Online Travel Bookings Market. These companies are following acquisitions as well as collaborating with other industry participants in order to expand their market reach. The detailed illustration of the recent strategic developments depicted in KBV Cardinal Matrix Chart is discussed in the report.

For more insights – https://kbvresearch.com/news/online-travel-bookings-market/

Related Reports:

North America Online Travel Bookings Market (2017-2023)

Europe Online Travel Bookings Market (2017-2023)

Asia Pacific Online Travel Bookings Market (2017-2023)

LAMEA Online Travel Bookings Market (2017-2023)

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