The Online Travel Agency (OTA) Market is growing rapidly, with new players entering the space all the time. This is good news for consumers, as it means more choice and more competition. However, it can also be a bit overwhelming.
One of the major factors driving the growth of the market is the increasing adoption of mobile devices and the availability of high-speed internet. With the increasing number of people using mobile devices for booking travel tickets, there has been a rise in the number of online travel agencies (OTA) that provide mobile applications and websites for ticket bookings. In addition, with the increasing competition in the market, OTAs are offering various deals and discounts to attract customers.
Online Travel Agency (OTA) Market Competitive Landscape
Major Players in Online Travel Agency (OTA) market are:
- eDreams Odigeo
- Booking Holdings
- Lastminute Group
- Seera Group
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Online Travel Agency (OTA) Market Segmentation
Most important types of Online Travel Agency (OTA) products covered in this report are:
Most widely used downstream fields of Online Travel Agency (OTA) market covered in this report are:
The global online travel agency market is segmented on the basis of type, mode of booking, and geography.
On the basis of type, the market is classified into air tickets, hotel rooms, and packages. The air tickets segment includes scheduled/chartered flights and low-cost carrier (LCC) flights. The hotel rooms segment comprises online booking and offline booking. The packages segment covers leisure travel and business travel. Based on mode of booking, the market is divided into mobile application bookings, desktop bookings, and call center bookings.
Geographically, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand , ASEAN countries ,and Rest of Asia-Pacific ), Latin America (Brazil ,Argentina , Colombia ,and Rest of Latin America ),and Middle East & Africa (GCC countries , Turkey , Iran ,Israel & South Africa ).
Online Travel Agency (OTA) Market Report Scope
This report aims to provide a comprehensive presentation of the global market for Online Travel Agency (OTA), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Online Travel Agency (OTA).
The Online Travel Agency (OTA) market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2021 as the base year, with history and forecast data for the period from 2017 to 2028. This report segments the global Online Travel Agency (OTA) market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Online Travel Agency (OTA) market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
Online Travel Agency (OTA) Market Drivers
OTA’s have become a popular option for travelers in recent years as they offer a convenient way to research and book travel plans online. There are several factors that have contributed to the growth of the OTA market, including:
1) The rise of online bookings: With more travelers booking their travel plans online, it’s no surprise that OTAs have become a popular option. According to Phocuswright, 66% of global travelers booked at least one of their trips online in 2017, and this number is expected to grow in the years to come.
2) The growth of mobile bookings: Mobile bookings are another driver of OTA growth, as they offer travelers even more convenience and flexibility. According to eMarketer, 43% of global travelers used a mobile device to book travel in 2017, and this number is expected to reach 54% by 2021.
3) The increase in competitive pressure: As the OTA market has grown, so has the level of competition within it. This increase in competition has led OTAs to offer lower prices and more value-added services to attract and retain customers.
Online Travel Agency (OTA) Market Restraints
There are several key restraints that are currently limiting the growth of the online travel agency market. Firstly, airlines and hotel chains are increasingly direct-selling to consumers through their own websites and apps, bypassing OTAs entirely. This is particularly prevalent in North America, where airlines have been quick to adopt new technologies and distribution channels. Secondly, the high level of fragmentation within the OTA market makes it difficult for any one player to gain a significant competitive advantage. With so many options available to consumers, it can be hard for any one OTA to stand out from the crowd.
Finally, OTAs are also facing stiff competition from traditional travel agents, who are becoming more savvy about using online tools to reach their customers. While OTAs may have an edge when it comes to technology and convenience, travel agents still have strong relationships with their clients and often offer more personalized service.
Online Travel Agency (OTA) Industry Market Covid-19 Impact
The novel coronavirus (COVID-19) pandemic has had a significant impact on the online travel agency (OTA) industry. The outbreak of COVID-19 has led to a sharp decline in global travel demand, as people have been advised to avoid non-essential travel and large gatherings. This has resulted in a drop in bookings for OTAs, as well as cancellations and changes to existing bookings.
Many OTAs have responded to the crisis by offering flexible cancellation policies, waived change fees, and other incentives to encourage customers to rebook their travel plans. Some OTAs have also launched new products and services specifically designed for customers affected by the pandemic, such as virtual tours and virtual reality experiences.
Despite the challenges posed by COVID-19, the OTA industry is expected to rebound in 2021 as global travel demand begins to recover.
Online Travel Agency (OTA) Industry Market Table of Content
Global Online Travel Agency (OTA) Industry Market Research Report
1 Online Travel Agency (OTA) Introduction and Market Overview
2 Industry Chain Analysis
3 Global Online Travel Agency (OTA) Market, by Type
4 Online Travel Agency (OTA) Market, by Application
5 Global Online Travel Agency (OTA) Production, Value ($) by Region (2017-2022)
6 Global Online Travel Agency (OTA) Production, Consumption, Export, Import by Regions (2017-2022)
7 Global Online Travel Agency (OTA) Market Status and SWOT Analysis by Regions
8 Competitive Landscape
9 Global Online Travel Agency (OTA) Market Analysis and Forecast by Type and Application
10 Online Travel Agency (OTA) Market Analysis and Forecast by Region
11 New Project Feasibility Analysis
12 Research Finding and Conclusion
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