Driving Vacation Market By Tour Type (Customized Road Tour, Fixed Departure Tour), By Traveler type (Solo, Group, Others), By Mode of booking (Online travel agency, Direct travel agents): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global driving vacation market was valued at $121,200.0 million in 2021, and is projected to reach $513,254.0 million by 2031, registering a CAGR of 15.7% from 2022 to 2031.
Driving vacations include extensive road trips that can be taken either independently or with a driver. In other words, a driving vacation is when a person travels outside of their usual environment and explores locations that interest them personally. Online travel service providers make travel planning easy and road trip hassle free. OTAs invest millions of dollars each year to attract customers from all over the world to their online travel markets. Their investment on television and internet advertising, sponsorships and billboards, social media and other marketing platforms enables hotels and travel agencies to engage hard-to-reach travelers they could not afford to reach otherwise. Additionally, the adoption of web-based hotel and ticket booking as well as the use of AI and IoT to improve booking operation efficiency are expected to bolster the growth of the driving vacation market. Booking a trip takes only minutes rather than hours because the Internet allows customers to communicate quickly with the travel partners of the agencies.
Growth in in the consumer spending and desire to explore unique location has led to emergence of new destination in the country. The driving vacation market witnesses growth due to three reasons:
People were under lockdown well over 2 years due to COVID-19 and have missed out on exploring and enjoying side seeing for that time period. Thus as the restriction are being lifted people are moving out of their houses and traveling to tourist places.
There is an increase spending capabilities and desire to explore unique location has led to emergence of new destination in the country.
People are now trying to enjoy the route which they take rather than visiting just the destinations for vacation. For example, the route 76 in US is quite famous for bike riders and Spiti Valley in India is also an iconic location that is recommended to be explore by road for its scenic beauty.
Furthermore, People are now trying to avoid crowded places and are much more interested to visit to locations that are remote, untouched, and not easily accessible to all. COVID-19 pandemic has impacted all the industries globally. The driving vacation industry has been hit hard all over the world, impacting its associated sectors such as travel agencies, hospitality, tour operators, and all kinds of transportation services.
The global driving vacation market is categorized into tour type, traveler type, mode of booking and region. By tour type, it is classified into customized road tour and fixed departure tour. On the basis of traveler type, it is fragmented into solo, group and others. By mode of booking, the market is segmented into online travel agency and direct travel agents. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Switzerland, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia and Rest of Asia-Pacific). LAMEA (UAE, South Africa, Saudi Arabia, Brazil, Turkey and Rest of LAMEA)
The key players profiled in this report include Alamo, Adventures overland, American Express Travel, Expedia group Inc., The hertz corporation, JTB Americas ltd., Priceline (booking holding Inc., Scott Dunn ltd., SOTC travel, Thomas Cook India Pvt. Ltd, Tourradar, Travel leader group, Travelsphere, Triumph Expedition Pvt. Ltd., Undiscovered mountains, Wexas Travel Management, World travel Inc., Butterfield & Robinson, Wild frontiers travel and Audley travel.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the driving vacation market analysis from 2021 to 2031 to identify the prevailing driving vacation market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the driving vacation market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global driving vacation market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Tour Type
Customized Road Tour
Fixed Departure Tour
By Traveler type
Solo
Group
Others
By Mode of booking
Online travel agency
Direct travel agents
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Switzerland
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
UAE
South Africa
Saudi Arabia
Brazil
Turkey
Rest of LAMEA
Key Market Players
Alamo
Adventures overland
TourRadar
Expedia Group Inc.
JTB AMERICAS, LTD
SCOTT DUNN LTD
SOTC travel
THOMAS COOK INDIA LTD
travelsphere
wexas travel management
Triumph expedition pvt. Ltd
Undiscovered mountains
AMERICAN EXPRESS TRAVEL
World travel inc
BUTTERFIELD & ROBINSON
the hertz corporation
travel leaders group
PRICELINE (BOOKING HOLDINGS INC.)
wild frontiers travel.com
Audley Travel
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