Yahoo Finance Global Online Airline Booking Market Report 2024-2030: Convenience and Competitive Pricing, Digitalization, Integration of GDS Fueling Growth
Global Online Airline Booking Market
Dublin, April 26, 2024 (GLOBE NEWSWIRE) -- The "Global Online Airline Booking Market by Booking Type (Direct Booking, Third-Party Booking), Platform Type (Desktop/Laptop, Mobile Devices), Customer Type, Trip Type - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Online Airline Booking Market size was estimated at USD 5.57 billion in 2023, USD 6.13 billion in 2024 and is expected to reach USD 11.13 billion by 2030, growing at a CAGR of 10.38%.
Rising demand for air travel by consumers coupled with the expansion of airlines across the globe accelerated demand for online airline booking. Additionally, more people have access to the Internet, thus expanding the potential customer base for online bookings. Competitive pricing strategies and exclusive online promotions continue to attract customers.
However, system downtimes and glitches can lead to booking failures and loss of customer trust. Data privacy and security issues can deter users from online transactions, which impacts the adoption of online airline booking platforms. Furthermore, the integration of Global Distribution Systems (GDS) to get real-time information poses significant opportunities for market growth. Ongoing innovation in AI & blockchain technology assists booking platforms to streamline their operations.
Booking Type: Rising preference for direct booking due to transparency and trust
Direct booking refers to the purchase of airline tickets directly from the airline's own platforms, whether it's through their official website or mobile app. Consumers often prefer direct bookings for the clarity and trust factor associated with dealing directly with the airline. This method eliminates hidden fees sometimes present in third-party processes. Third-party booking includes bookings made through websites and apps other than those owned by the airlines, such as travel agencies or aggregators. Customers opt for third-party sites for the convenience of comparing various airlines, schedules, and prices all in one place.
Trip Type: One-way travel is widely favored by the people relocating to a new city or country
One-way travel refers to flights booked from one location to another without a scheduled return journey. This type of booking is favored by travelers with uncertain return dates and people relocating to a new city or country. Round-trip travel includes bookings where the traveler departs and returns to the original departure point. Round-trip travel choice is commonly preferred by vacationers planning short to medium-term getaways and business travelers attending predefined meetings or conferences.
Regional Insights
In North America, particularly in the United States and Canada, there is a high penetration of internet usage and technological adoption, making online airline bookings highly prevalent among consumers. Customers in these regions prioritize convenience, pricing transparency, and the availability of multiple options. Ongoing investments have been directed towards enhancing cybersecurity and integrating artificial intelligence to personalize travel experiences. The EU has seen sustained growth in the online airline booking sector due to the mobility of labor and the extensive intra-European travel. Low-cost carriers often drive the market, with platforms offering comparative pricing and bundled travel options becoming particularly popular.
GDPR compliance and consumer data protection are pivotal, influencing the operational strategies of online booking platforms. The Middle East has shown rapid technology adoption, with a significant boom in both luxury and budget travel sectors. The region has increasingly adopted new technologies such as virtual reality (VR) to enhance user experience in online bookings. Investments are frequently channeled into improving user interfaces on mobile platforms, reflecting a high mobile usage rate.
Africa's online airline booking landscape is evolving with the rising internet penetration and smartphone availability. In the APAC, the online airline booking market is one of the most robust, driven by giant tech companies that integrate travel services into broader e-commerce and social media platforms. Digital payment systems are highly adopted, making online transactions smoother. Countries across the region introduce efficiency and high customer service standards, focusing on speedy and seamless booking processes.
Recent Developments
Priceline Becomes Breeze Airways' Inaugural OTA Partner, Enhancing Online Airline Booking Options
Priceline partnered with Breeze Airways, marking its debut as the airline's first-ever Online Travel Agency (OTA) partner. This collaboration aims to expand booking options for travelers by integrating Breeze Airways' budget-friendly and convenient flight services into Priceline's extensive travel platform. The partnership is positioned to enhance customer experience by offering a more diverse range of air travel options, thereby facilitating an increase in both market reach for Breeze Airways and service variety on Priceline's platform. [Published On: 2024-03-25]
Maersk Introduces Innovative Digital Platform for Enhanced Air Freight Booking
Maersk unveiled a cutting-edge digital solution to simplify its customers' air freight booking process. This strategic enhancement leverages advanced technology to offer a streamlined, user-friendly platform that significantly reduces the complexity and time associated with air cargo reservations. The initiative aligns with Maersk's commitment to improving operational efficiency and customer service by integrating digital tools that facilitate smoother transactions and more predictable supply chain management. [Published On: 2024-02-12]
ASMALLWORLD AG Expands Portfolio with Acquisition of Online Flight Booking Platform JetBeds.com
ASMALLWORLD AG acquired JetBeds.com, an online platform specializing in the booking of commercial airline flights. This acquisition is part of ASMALLWORLD's ongoing efforts to enhance its value proposition to its members by integrating travel services directly within its social network. JetBeds.com is recognized for providing a user-friendly interface and competitive pricing, making it a valuable addition to ASMALLWORLD AG's existing portfolio.
Key Attributes:
Report Attribute | Details |
No. of Pages | 198 |
Forecast Period | 2024 - 2030 |
Estimated Market Value (USD) in 2024 | $6.13 Billion |
Forecasted Market Value (USD) by 2030 | $11.13 Billion |
Compound Annual Growth Rate | 10.4% |
Market Dynamics
Drivers
Rising Demand for Air Travel Across the Globe Coupled With Airline Expansion
Increase in Trend of Online Booking Due to Convenience and Competitive Pricing
Emerging Focus on Digitalization With Improvements in It Infrastructure and Mobile Technology
Restraints
System Downtimes and Glitches on Booking Platforms
Opportunities
Ongoing Innovation in AI & Blockchain Technology
Integration of Global Distribution Systems (GDS) to Get Real-Time Information
Challenges
Data Privacy and Security Issues Associated With Online Airline Booking Platforms
Market Segmentation Analysis
Booking Type: Rising Preference for Direct Booking Due to Transparency and Trust
Trip Type: One-Way Travel Widely Favored by the People Relocating to a New City or Country
Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Regulatory Framework Analysis
Company Profiles
AirAsia Com Travel Sdn Bhd
Booking Holdings Inc.
Cleartrip Pvt. Ltd.
eSky.pl S.A
Expedia Group, Inc.
Fareportal, Inc.
Fly.com, Inc.
Go Global Travel Ltd.
Go Travel UN Limited
Google LLC
Hopper Inc.
Hotwire, Inc.
ibibo Group Pvt. Ltd.
Kiwi.com s.r.o.
Le Travenues Technology Limited
lm group
MakeMyTrip Ltd.
Momentum Travel Group Inc.
OZMOSYS, Inc.
Travix International B.V.
Trip.com Group Limited
Tripadvisor LLC
Vacaciones eDreams S.L.U
Wego Pte Ltd.
Yatra Online Private Limited
Market Segmentation & Coverage
Booking Type
Direct Booking
Third-Party Booking
Platform Type
Desktop/Laptop
Mobile Devices
Customer Type
Business Travelers
Leisure Travelers
Trip Type
One-way Travel
Round Trip
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/5ka8l5
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