About Online Travel Agency (OTA)
An online travel agency (OTA) is a web-based marketplace that allows consumers to research and book travel products and services such as hotels, flights, cars, tours, cruises, activities, and more directly with travel suppliers. Every day, millions of travellers around the world use OTAs to plan their leisure and business travel. OTAs provide access to your potential guests in locations and volumes that would be difficult for you to reach through your own marketing efforts. Furthermore, OTAs provide market insights and tools for targeting travellers, securing and processing bookings, communicating with guests, and managing reviews. The increase in disposable income of people in emerging markets, as well as the ease of comparing a variety of travel options online, are expected to fuel market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for online travel agency (OTA) is increasing with each passing day. The businesses in this industry facing major competition with leading players of the market that includes Hotels.com, Agoda, Despegar, Expedia Group, Booking Holdings Inc. and others. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such as technological development, resource utilization to enhance their market position. The market leaders such as Hotels.com, Agoda, Despegar, Expedia Group, Booking Holdings Inc. and others demonstrate a market-defining vision of how online travel agency (OTA) solutions can help top-line business executives achieve their business objectives. Leaders have the ability to execute against that vision through both products and services. They have demonstrated solid business results in the form of revenue and earnings. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Online Travel Agency (OTA) market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hotels.com (United States), Agoda (Singapore), Despegar (Argentina), Expedia Group (United States), Booking Holdings Inc. (United States), Trip.com (China), MakeMyTrip (India), American Express Global Business Travel (United States), Rakuten (Japan), TripAdvisor (United States), Trivago N.V. (Germany), Thomas Cook Group (United Kingdom) and Airbnb Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are eDreams ODIGEO (Spain), lastminute.com (United Kingdom), Hostelworld Group (Ireland) and Fareportal (United States).
Segmentation Overview
AMA Research has segmented the market of Global Online Travel Agency (OTA) market by Type (Merchant Model and Agency Model) and Region.
On the basis of geography, the market of Online Travel Agency (OTA) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Online Travel Agency (OTA) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Emergence of AI Chabot’s
Market Growth Drivers:
Rise in Internet Penetration and Innovative Mobile Apps and Increase in International and Domestic Tourism
Challenges:
High Competition among Established Players and Fluctuations in Demand Share Due to Enforcement of Stringent Lockdown Measures
Restraints:
Stringent Government Regulations Related to Sustainable Tourism and High Cost of Online Booking Charge
Opportunities:
Rising Opportunities in Emerging Economies
Market Leaders and their expansionary development strategies
In May 2021 American Express Global Business Travel had announced the acquisition of Egencia. GBT will further continue to invest in the Egencia brand and technology as part of the world's leading business travel platform. GBT and Egencia will offer comprehensive technology and customer solutions across all segments of business travel. Combining Egencia with GBT's Supply MarketPlace, one of the most comprehensive sources of content and experiences for business travellers, would provide customers with more options and suppliers with greater access to business travellers. Meanwhile, with both the Egencia platform and GBT's Neo Technology Group, the company would be well-positioned to develop the best solutions for the future of business travel.
In May 2022, Despegar acquired Viajanet, a prominent Brazilian online travel agency (OTA). This acquisition aimed to expand Despegar's reach in the Brazilian market, enhance its product offerings, and also offer a more comprehensive range of travel products and services to customers,
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Travel Agents/Brokers and End-use industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.