Global Online Travel Booking Platform Market to Reach US$983.2 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Online Travel Booking Platform estimated at US$517.8 Billion in the year 2020, is projected to reach a revised size of US$983.2 Billion by 2027, growing at a CAGR of 9.6% over the period 2020-2027.Desktop/Laptop, one of the segments analyzed in the report, is projected to grow at a 9.2% CAGR to reach US$618.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mobile/Tablet segment is readjusted to a revised 10.3% CAGR for the next 7-year period. This segment currently accounts for a 35.5% share of the global Online Travel Booking Platform market.
The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 9% CAGR for the Period of 2020-2027
The Online Travel Booking Platform market in the U.S. is estimated at US$153.5 Billion in the year 2020. The country currently accounts for a 29.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$170.5 Billion in the year 2027 trailing a CAGR of 9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 7.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.8% CAGR while Rest of European market (as defined in the study) will reach US$170.5 Billion by the year 2027.We bring years of research experience to this 7th edition of our report. The 173-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Airbnb Inc.
- Booking Holdings Inc.
- Ctrip.com International Ltd.
- Expedia Group
- Thomas Cook Ltd.