Description :
Travel and tourism is one of the largest and fastest growing industries , as there has been a surge in the number of travelers in the recent years , for various reasons such as recreation , enjoyment , relaxation , and business among others . In the year 2014 , this increase in number of travelers and their travel spent accounted for nearly 10 % of the global GDP . To cater this potential target audience , market players have adopted various approaches , the most effective being the internet .
Online travel services have gained popularity among travelers as it enables them to avail a number of services such as booking flight tickets , hotels , holiday packages , and car rentals using their phone or computer anytime and anywhere . Online travel services can be availed either through online travel agencies ( OTAs ) or direct travel suppliers . According to market analysis , online travel bookings witnessed a growth of nearly 12.1 % in 2015 and the rate has been growing steadily .
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Online travel services offer convenient usage of debit & credit cards and a platform to compare prices , features , and services of online travel products , which has led to the escalation in adoption of these services . Moreover , customers tend to rely on websites review to avail the best online travel deals . Hectic lifestyle , rise in disposable income , and increased spending power has encouraged people to plan holiday trips at frequent intervals , thus , driving the online travel market growth . Also , entry of established ecommerce players such as Alibaba ( online travel site Alitrip ), in online travel market , is intensifying the market competition .
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The market is categorized by mode of booking , types of platform , types of services , age group and geography . By mode of booking , the online travel market comprises online travel agencies ( OTAs ) and direct travel suppliers . Based on types of platform , the market is subsegmented into mobile and desktop . By types of services , it is sub-segmented by transportation , travel accommodation , and travel packages . Based on age group , the market is bifurcated into 22-31 , 32-43 , 44-56 , and > 56 . By geography , the market is broadly segmented into North America , Europe , Asia-Pacific , and LAMEA . Key players profiled in the report are Expedia , Inc ., Priceline Group Inc ., TripAdvisor LLC , Ctrip . com International , Ltd ., Hostelworld Group , Hotel Urbano Travel and Tourism SA , Cheapoair . Com . Trivago GmbH , Thomas Cook Group Plc , and MakeMyTrip Limited .
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