Revolutionizing The Travel Industry: AI And Mobile Usher In New Era Of Online Travel Market Growth

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Online Travel Market Insights 2024" report has been added to ResearchAndMarkets.com's offering.

Global Online Travel Market Insights 2024 reveals that AI and Mobile Drive Global Online Travel Market to Over €1 Trillion by 2032

Digital Platforms to Lead Global Travel Growth

The shift towards digital travel booking platforms, particularly Online Travel Agencies (OTAs), continues to accelerate. The global online travel market is expected to grow at a CAGR of over +10% from 2024 to 2032, reaching a market value exceeding EUR 1 trillion by 2032.

Mobile Devices Drive Online Travel Shift

Mobile devices are key drivers in online travel, accounting for over 65% of traffic to travel websites in 2023. With the rise of mobile-first consumers, travel companies must adapt their platforms for mobile bookings.

AI and Personalization Elevate Travel Experience

AI is transforming the travel industry by providing personalized recommendations and optimizing customer interactions. In 2024, about 20% of travelers in South Korea and Germany used AI tools for planning their trips. The role of AI is set to expand, enhancing customer experiences by simplifying booking processes and offering tailored options.

Questions Covered:

• What are the key drivers of growth in the global online travel market through 2032?
• What is the expected value of the global OTA market by 2027?
• How are social media platforms impacting the travel booking journey?
• Which country was the largest contributor to the global OTA market in 2023?
• What trends are emerging in consumer behavior regarding online travel bookings?

Company Coverage:

• Hilton
• Google Flights
• Kayak
• Airbnb
• Viator
• GetYourGuide

Key Topics Covered:

1. Key Takeaways

2. Management Summary

3. Global Online Travel Market Insights

• Overview of Online Travel Market And Trends, October 2024
• Overview of Online Travel Market And Trends, October 2024
• Online Travel Market Size, in USD billion, 2023 & 2024e & 2032f
• Share of Online Travel Bookings Making Up Total Travel Bookings, in %, 2023 & 2026f
• CAGR of Online Travel Market Bookings, in %, 2023-2026f
• Online Travel Market Size, in USD trillion, 2023 & 2027f
• Online Travel Agency Market Value, in USD trillion, 2023 & 2027f
• Online Travel Agency Market Expenditure, in USD billion, 2023 & 2027f
• Breakdown of Online Travel Agency Market Value, by Domestic vs International Trips, in %, 2023 & 2027f
• Online Travel Agency Market Value, by Domestic vs International Trips, in USD billion, 2023 & 2027f
• Share of the U.S. Contributing to Online Travel Agency Market Value, in %, 2023
• Share of Online Travel Consumers Who Are Always/Frequently Influenced by Digital Advancements of a Travel Service Or Product, in %, 2023
• Share of OTA's Making Up the Total Travel Market, in %, 2024e
• Share of Travelers Who Find It Important to Have the Option to Book Their Entire Trip Online, in %, June 2024
• Share of Travelers Who Feel That It Is Important to Be Able to Book Their Entire Trip Online, by Generation, in % of Travelers, 2023e
• Number of "Hilton" Hotel Check-Ins Through App, in millions, June 2022 & June 2023
• Share of Travelers Who Want to Use a Digital Hotel Room Key, in %, June 2024
• Share of Travelers Who Appreciate Travel Apps That Reduce the Friction And Stress of Travel, in %, 2023e
• Share of Travelers Who Appreciate Travel Apps That Reduce the Friction And Stress of Travel, by Generation, in % of Travelers, 2023e
• Share of Travelers Who Find the Ability to Utilize Personal Devices Seamlessly While Traveling Important, in %, 2023e
• Share of Travelers Who Find the Ability to Utilize Personal Devices Seamlessly With On-Property Technology Important, by Generation, in % of Travelers, 2023e
• Share of Internet Users Who Visited Travel Websites And Used Travel Apps, in %, Q3 2023
• Share of Internet Users Who Use the Internet to Research Places And Travel, in %, Q3 2023
• Share of Internet Users Who Use the Internet to Research Places And Travel, by Age, in % of Internet Users, Q3 2023
• Top Sources of Trip Inspiration, in % of Travelers, February 2024
• Top Origins of Social Media Travel Inspiration, in % of Travelers, February 2024
• Share of Travelers Who State That Search Engine Results Play A Key Part In Their Trip Planning Journey, in %, February 2024
• Year-on-Year Growth of Online Bookings From Global Air Travel Providers, by Region, in % of Year-on-Year Growth, Q1 2024
• Share of Travelers Who Have Used AI And Found It Helpful When Planning for Travel, by Country, in % of Travelers, Q1 2024
• AI Use Cases in Travel, in % of Travelers, October 2023
• Share of Travelers Who Are Curious to Use AI When Planning a Trip, in %, October 2023
• Top 5 Resources Used in the 45 Days Leading Up To Booking Travel, in % of Travelers, April 2023
• Average Time Travelers Spent With Resources Used on the Path to Travel Purchase, in Minutes, April 2023
• Top 5 Use Cases of Social Media in the Path to Travel Purchase, in % of Travelers, April 2023
• Share of Frustration Experienced by Users During Sessions, by Industry, in %, October 2023
• Frustration Factors Experienced While Visiting Travel & Hospitality Websites, in % of Website Visitors, October 2023
• Internet Traffic Change, by Industry, in % of Year-on-Year Change, Q4 2023
• Breakdown of Travel & Hospitality Websites Traffic, by Device, in %, 2022 & 2023
• Breakdown of Travel & Hospitality Websites Traffic, by Marketing Channel, in %, 2022 & 2023
• Breakdown of Paid vs Unpaid Travel & Hospitality Websites Traffic, by Device, in %, December 2023
• Breakdown of New vs Returning Travel & Hospitality Websites Traffic, by Device, in %, December 2023
• Scroll Rate of Travel & Hospitality Websites, by Device, in %, December 2023

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