LONDON--(BUSINESS WIRE)--The global online travel booking platform market is expected to register a CAGR of over 11% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the increasing internet and smartphone penetration. The rapid technological advances have led to the increased internet and smartphone penetration across the globe in the past decade. Mobile plays an important role in the global online travel booking platform market. The internet connectivity has become a necessity at home, office, and even in public places.
This market research report on the global online travel booking platform market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing adoption of online payment platforms as one of the key emerging trends in the global online travel booking platform market:
Global online travel booking platform market: Increasing adoption of online payment platforms
The security related to the online transactions is one of the major challenges that restrict the growth of the global online travel booking platform market. However, with advances in the security certification and the increasing number of certified ethical hackers, the online transactions are becoming secure and popular. The adoption of online payment platforms has been increasing over the past few years.
“The government organizations and banking, financial services and insurance require data security while conducting online transactions. To ensure the security of online payments, there are several stringent regulations that prevent identity and data thefts. In addition, there is a growth in the number of secure-socket layer certificates among financial institutions and banking sector that help to secure the websites and benefit the customers and organizations,” says a senior analyst at Technavio for research on enterprise application.
Global online travel booking platform market: Segmentation and analysis
This market research report segments the global online travel booking platform market based on type (packages and direct) and key regions (the Americas, APAC, and EMEA).
The packages segment held the largest market share in 2017, accounting for nearly 58% of the market. This segment is expected to dominate the global market throughout the forecast period.
The Americas held the highest share of the global online travel booking platform market in 2017, accounting for a market share of more than 45%. This region is anticipated to lead the global market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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