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Online Travel Market Size 2020 Industry Recent Developments, Emerging Trends, Growth, Progression Status, Latest Technology, and Forecast Research Report 2030

In a recent published report, Kenneth Research has updated the Market report for Online Travel Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Online Travel Market Products.

Download Sample of This Strategic Report: –https://www.kennethresearch.com/sample-request-10081690

According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Indian online travel market is growing at a steady rate due to increase in awareness coupled with confidence among the customers to make online transactions. The Indian customer is aware about online travel portals and is ready to pay for the convenience and better service. Today, the online travel industry is the driving force in the e-commerce segment and its importance is likely to increase in the future. Various offers and deals from the OTAs have made the market very lucrative for the customers, thus driving competition.

The report begins with an introduction to the e-commerce market in India and offers information regarding the market size and growth. It also gives a break-up of the revenue for the e-commerce market. It goes on to explain the market structure of the e-commerce market and also provides an overview of the factors which drive this market. In the market overview section the structure of the online travel market is explained. Market size, growth and the break-up of the revenue generated is also provided for the online travel market. Increasing share of online travel market as well as the prevailing commission structure has been highlighted. Porter’s five forces analysis gives an overall picture of the online travel industry and helps to understand the major influencers. The business model explains the role of global distribution systems and their role in the online travel industry. This section also explains the various incentives provided by the OTA’s to attract more customers and the operational edge OTAs have over the traditional tour operators.

Drivers include factors such as proliferation of the internet, especially broadband, which has increased online traffic considerably. Rising disposable income has also acted as a driver for online travel portals. Indian railways online portal has proved to be extremely efficient and user friendly, instilling confidence among people to book tickets online. Other drivers identified include rise in low cost airlines which has paved a way to travel by air for the large middle class segment in India thus increasing traffic to these online portals. Secure payment mechanisms have given people the desired confidence to carry out transactions online. On the other hand tremendous rise in medical tourism has led to influx of foreign travelers to India which again gives rise to increased traffic. Challenges identified include stiff competition coupled with low margin and high operating costs which has caused profit margins to shrink. In addition, limited awareness about portals adds to the woes. Trends identified are emergence of value added services among various OTAs including discount vouchers to woo customers and gather a large market share. Emergence of corporate packages is another trend identified. Many OTAs are following a hybrid model constituting online and offline stores to penetrate the market even further. OTAs are also moving towards better technology so as to cater to the increased traffic and offer a user friendly experience to its clients. They are also becoming more responsible and addressing customer queries and complaints swiftly through social media interfaces. It has been identified that OTAs are also a means of information verification and cross checking among customers. One more trend identified includes an increase in PE/VC investments in this sector.

Download Sample of This Strategic Report: –https://www.kennethresearch.com/sample-request-10081690

The competition section begins with an overview of the competitive nature of the market drawing comparisons across players based on pages viewed per session as well as average loading time, ranking them based on presence. Operational segments for each of the players have also been highlighted. It also offers a bubble chart where the relative positions of the players are depicted with respect to their revenue, net profit and market capitalization. It also includes profiles of the major players in the market along with their financials. Key ratios and list of important contact persons are also listed. Key geographic areas and major business segments are also included. Key developments that have taken place in the market have been identified. The last section deals with the strategic recommendations where the critical success factors important to this industry have been depicted.

The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of Online Travel Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Playes
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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About Kenneth Research:

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Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.

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