Global Online Travel Booking Service Market
Dublin, Sept. 15, 2022 (GLOBE NEWSWIRE) — The “Online Travel Booking Service Market Size, Share & Trends Analysis Report by Service Type (Vacation Packages, Transportation Booking), by Booking Method, by Device, by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global online travel booking service market size is expected to reach USD 1.13 trillion by 2030., expanding at a CAGR of 9.0% from 2022 to 2030. Rising spending on travel, increased number of travelers in recent years due to falling travel-related costs, rising incomes, and a growing range of available tourist activities across the globe are accelerating the market growth.
Moreover, there is a rise in the online booking of vacation tours, couple travel, and adventure tourism due to the rising popularity of online travel booking over traditional booking services all over the world, as it offers various services like reliable transport, personalized service, versatility, and capacity to assist economies.
The online booking method segment is expected to expand at the highest CAGR during the forecast period. Constantly changing consumer expenditure behavior and an increasing number of visitors and travelers choosing to book their tours and packages directly through online channels are driving the segment.
Additionally, significant actions taken by market participants, including online campaigns and social media advertising, are anticipated to draw potential clients and encourage them to book their tour packages through online booking channels, which is expected to accelerate the industry growth during the projection period.
The mobile device segment is foreseen to witness tremendous growth during the forecast years. The increasing penetration of the internet and smartphones across the globe is a major factor driving the market.
Moreover, the growing popularity of online travel agencies for travel