DUBLIN, May 7, 2021 /PRNewswire/ — The “Mobile Travel Booking Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029” report has been added to ResearchAndMarkets.com’s offering.
Increasing smartphone penetration is driving the mobile travel booking market
Globally, the mobile travel booking market is expected to grow with a CAGR of 12.2% during the forecast period from 2021 to 2029, starting from US$ 1,067.3 Mn in 2020.
The growth of the market is attributed to the increasing adoption of the smartphone across the globe. The number of the smartphone users worldwide has significantly increases over the past five years. The number of smartphones has increased from 1.57 Bn in 2014 to 2.53 Bn in 2018. This increase is mainly driven by the decline in the price of the smartphones and increasing competition among the market players.
Moreover, the launch of new smartphones with the upgraded features and advance technologies is further augmenting the demand of the smartphones. Moreover, the rapid advancement in the technology along with the rise in the disposable incomes of the population across the emerging economies is further accelerating the adoption of the mobile travel booking market.
Additionally, the public private partnership in the transportation space to provide better traveling experience to the customer is further propelling the adoption of the mobile travel booking solutions.
Accommodation booking are dominating the mobile travel bookings market
Accommodation booking accounts for majority share in the mobile travel booking market. The increasing adoption of the digitalization among the hospitality sector is supporting the growth of the market. The competition in the hospitality sector has increase significantly. As a result, the customers have multiple options to choose.
Therefore, the organization started to focus on enhancing the customer experience to gain customer loyalty and reduce the churn rate. Hence, the organization is moving towards more customer centric business models to provide service to the customers on their choice of medium. This is encouraging the adoption of the mobile travel booking solutions among the hospitality sector.
North America is leading the mobile travel bookings market
North America is leading the mobile travel bookings market with over 40% share in the revenue in 2020. The market is driven by the growing adoption of the internet services in the region. North America is the home of more than 320 million internet users across the globe. The internet penetration rate in the region is one of the highest worldwide with more than 89% population across the region has access to the internet services. Moreover, the increasing numbers of the smartphone users in the region are also propelling the demand for the mobile travel booking market.
The major players in the mobile travel bookings market are CheapOair.Com, Ctrip.Com International Ltd., Expedia, Inc., Hostelworld Group, Hotel Urbano Travel, MakeMyTrip Limited, Priceline Group Inc., Thomas Cook Group Plc., Tourism SA, Trip Advisor LLC, and Trivago GmbH.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2021 to 2029.
Key Topics Covered:
Chapter 1 Preface
1.1 Report Scope and Description
1.2 Research Scope
1.3 Research Methodology
1.4 Market Segmentation
Chapter 2 Executive Summary
2.1 Market Snapshot: Global MTB Market
2.1.1 Global MTB Market, by Service Type, 2020 (US$ Mn)
2.1.2 Global MTB Market, by Geography, 2020 (US$ Mn)
Chapter 3 Market Dynamics
3.2 Market Dynamics
3.3 Attractive Investment Proposition, by Geography, 2020
3.4 Market Positioning of Key MTB Vendors, 2020
Chapter 4 Global Mobile Travel Booking (MTB) Market, by Service Type
4.1.1 Global MTB Market Value Share, by Service Type, 2020 & 2029 (Value, %)
4.2 Accommodation Booking
4.3 Travel Booking
Chapter 5 North America Mobile Travel Booking (MTB) Market Analysis, 2019- 2029 (US$ Mn)
5.2 North America MTB Market Analysis, by Service Type, 2019- 2029 (US$ Mn)
5.2.1 Market Analysis
5.3 North America MTB Market, by Country, 2019- 2029 (US$ Mn)
5.3.1 Market Analysis
Chapter 6 Europe Mobile Travel Booking (MTB) Market Analysis, 2019- 2029 (US$ Mn)
6.2 Europe MTB Market Analysis, by Service Type, 2019- 2029 (US$ Mn)
6.2.1 Market Analysis
6.3 Europe MTB Market, by Country, 2019- 2029 (US$ Mn)
6.3.1 Market Analysis
Chapter 7 Asia Pacific Mobile Travel Booking (MTB) Market Analysis, 2019- 2029 (US$ Mn)
7.2 Asia Pacific MTB Market Analysis, by Service Type, 2019- 2029 (US$ Mn)
7.2.1 Market Analysis
7.3 Asia Pacific MTB Market, by Country, 2019- 2029 (US$ Mn)
7.3.1 Market Analysis
Chapter 8 Rest of the World (RoW) Mobile Travel Booking (MTB) Market Analysis, 2019- 2029 (US$ Mn)
8.2 RoW MTB Market Analysis, by Service Type, 2019- 2029 (US$ Mn)
8.2.1 Market Analysis
Chapter 9 Company Profiles
- Hostelworld Group
- MakeMyTrip Limited
- Expedia Inc.
- Ctrip.Com International
- Priceline Group Inc.
- Hotel Urbano Travel
- Trivago GmbH
- Thomas Cook Group Plc.
- Trip Advisor LLC
- Tourism SA.
For more information about this report visit https://www.researchandmarkets.com/r/w2uej0
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