Report Details:
15 Companies Covered
111 Pages
Players Adopt Strategies to Appease Travellers as COVID-19 Hits Online Travel Market. Rising Global Tourism and Digitalization to Drive the Online Travel Market at a CAGR of 4.8% during the Forecast Period 2025 to 2035
Market Research Future (MRFR) has published a cooked research report on the “Global Online Travel Market” that contains information from 2018 to 2035. The Online Travel Market is estimated to register a CAGR of 4.8% during the forecast period of 2025 to 2035.
MRFR recognizes the following companies as the key players in the Global Online Travel Market — Expedia Inc (US), Booking Holdings Inc (US), TripAdvisor Inc (US), Thomas Cook Group PLC (UK), MakeMyTrip Pvt Ltd (India), Airbnb Inc (US), FlixMobility GmbH (Germany), Ryanair DAC (Ireland), Alibaba Group Holding Limited (China), and eDreams ODIGEO SA (Luxembourg).
Market Highlights
The Global Online Travel Market is projected to grow from USD 658.38 billion in 2024 to USD 1105.03 billion by 2035, registering a CAGR of 4.8% during the forecast period.
This growth is primarily driven by rising disposable incomes, advancements in digital technologies, and favorable government initiatives promoting tourism worldwide. The growing preference for online travel bookings, supported by improved mobile applications and digital payment infrastructure, is significantly transforming the travel and tourism ecosystem.
Mobile and tablet-based platforms accounted for more than 52% of the market share in 2021, indicating the growing influence of smartphones on travel planning and bookings. Moreover, the Asia-Pacific region continues to lead in terms of growth potential, attributed to the rising middle-class population, increased internet penetration, and higher spending power.
Segment Analysis
Based into Platform Type, the Online Travel Market, based on platform type, is segmented into Mobile/Tablets-Based and Desktop-Based. The Mobile/Tablets-Based segment held the majority share in 2021, contributing approximately 52–55% of market revenue. The rise in smartphone adoption, availability of easy-to-use travel apps, and increasing digital literacy are key factors boosting this segment’s growth.
Based on the mode of booking, the market is segmented into Online Travel Agencies (OTAs) and Direct Travel Facilitators. Online Travel Agencies dominated the market in 2021 and are projected to remain the fastest-growing segment through 2030. The surge in preference for customized travel experiences and competitive deals offered by OTAs such as Expedia, Booking.com, and MakeMyTrip continues to drive this segment.
Based on service type, the market is segmented into Transportation, Accommodation, and Vacation Packages. Transportation services accounted for the largest market share in 2021, propelled by increasing demand for air travel, low-cost carriers, and intercity mobility services. Meanwhile, vacation packages are witnessing notable traction as consumers seek integrated travel experiences.
Regional Analysis
The Asia-Pacific Online Travel Market was valued at USD 451.93 billion in 2021 and is projected to expand significantly by 2035. Growth in this region is driven by increasing disposable incomes, urbanization, and government tourism initiatives in countries like China, India, Japan, and Australia. The rise of digital payment ecosystems and mobile-based travel apps also contributes to the market’s strong performance.
Europe remains the second-largest market due to increasing income levels, improved business travel infrastructure, and strong government tourism promotion campaigns. Countries such as Germany, the UK, and Italy are major contributors, with a growing number of independent and solo travelers boosting online bookings.
The North American Online Travel Market is expanding rapidly, supported by high digital engagement and a robust tourism ecosystem. The United States leads the regional market, while Canada is emerging as a popular destination due to immigration-driven travel and study-abroad programs.
Regions such as the Middle East, Africa, and Latin America are gradually witnessing increased participation in online travel bookings due to the development of tourism infrastructure, digital platforms, and government initiatives to promote travel and hospitality.
Key Findings of the Study
- The Global Online Travel Market is expected to reach USD 1105.03 billion by 2035, growing at a CAGR of 4.8% during 2025–2035.
- Asia-Pacific accounted for the fastest-growing market, driven by rising income levels and mobile travel app adoption.
- Mobile/Tablets-Based platforms held the largest market share, while Online Travel Agencies (OTAs) are the most preferred mode of booking.
- Transportation services remained the dominant segment in 2024.
- Key players such as Expedia, Booking Holdings, Airbnb, TripAdvisor, MakeMyTrip, and Thomas Cook Group are focusing on app development, AI-based travel recommendations, and sustainable travel solutions to enhance user engagement.
