DUBLIN–(BUSINESS WIRE)–The “Mobile Travel Booking Market By Application, By Payment Mode, By Tourism Type: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
Mobile Travel Booking Market is expected to reach a value of $612.5 billion by 2031, growing at a CAGR of 10.7% during 2022-2031
Rise in disposable income and middle-class population is a key driver for the growth of mobile travel booking market. As more people have access to disposable income, they are more likely to spend it on travel and tourism, leading to an increase in demand for travel-related services.
Moreover, the growth of the middle-class population in terms of disposable income has led to an increase in the number of people who can afford to travel. This has led to a surge in travel bookings, with more people using online booking platforms, including mobile travel booking apps and mobile-optimized websites, to plan and book their trips. In addition, growth in global travel and tourism industry and increase in penetration of smartphones & internet connectivity are major driving factors for the market growth.
However, lack of trust in mobile travel booking platforms is a major factor that hampers the growth of the market as many travelers are hesitant to book travel through mobile devices due to concerns about the security of their personal and financial information, as well as other issues such as inaccurate information, hidden fees, and poor customer service.
Contrarily, rise in awareness among consumers pertaining to mobile travel booking applications is likely to continue in the coming years. With the increase in popularity of smartphones and mobile devices, more consumers have become aware of the convenience and flexibility offered by mobile travel booking applications, which is expected to provide an opportunity to scale up mobile travel booking market during the forecast period.
The report analyzes the profiles of key players operating in the mobile travel booking market such as Airbnb, Inc., Booking.com, Cleartrip Pvt. Ltd., Expedia, Inc., Hostelworld.com Limited, Laterooms, MAKEMYTRIP PVT. LTD., Skyscanner Ltd, Trip.com and Tripadvisor.
These players have adopted various strategies such as partnership, product launch, and acquisition to increase their market penetration and strengthen their position in the mobile travel booking industry.
Market Dynamics
Drivers
- Increasing penetration of smartphones and internet connectivity
- Growth in global travel and tourism industry
- Rise in disposable income and middle-class population
Restraints
- Competition from traditional travel agents
- Lack of trust in mobile travel booking platforms
Opportunities
- Technological advancement in the field of tourism and travel
- Rise in awareness among consumers pertaining to mobile travel booking applications
Key Market Players
- Airbnb, Inc.
- Booking.com
- Cleartrip Pvt. Ltd.
- Hostelworld.com Limited
- Laterooms
- Expedia, inc.
- MAKEMYTRIP PVT. LTD.
- Skyscanner Ltd
- TripAdvisor LLC
- Trip.com
Key Topics Covered:
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: MOBILE TRAVEL BOOKING MARKET, BY APPLICATION
4.1. Overview
4.1.1. Market size and forecast
4.2. Vacation Packages
4.3. Accommodation Booking
4.4. Transportation Booking
CHAPTER 5: MOBILE TRAVEL BOOKING MARKET, BY PAYMENT MODE
5.1. Overview
5.1.1. Market size and forecast
5.2. Debit/Credit Card
5.3. UPI
5.4. E-Wallets
CHAPTER 6: MOBILE TRAVEL BOOKING MARKET, BY TOURISM TYPE
6.1. Overview
6.1.1. Market size and forecast
6.2. Domestic
6.3. International
CHAPTER 7: MOBILE TRAVEL BOOKING MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021
For more information about this report visit https://www.researchandmarkets.com/r/upn4kq
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