Online Travel, 2022 Update - Thematic Research
Summary
Technology and digitization continue to revolutionize the travel industry as both consumers and companies embrace online travel. Companies have been able to utilize online platforms as a way of enabling transactions, promoting sources of information, as a key marketing tool, and to directly communicate with the end-user. COVID-19 has only accelerated the need for an online presence as the pandemic revealed the need to reduce physical contact and led to greater adoption of digital technologies for everyday tasks. The leading players in travel and tourism are those which have embraced digitalization and focused on developing a robust online presence. To differentiate and stay ahead of the competition, the true leaders are those which have recognized the importance of social media, and personalization and invested in technologies such as big data, artificial intelligence, and travel apps. The most innovative and pioneering companies will have a workforce with a diverse and distinct set of skills to stay ahead in the online travel space.
This thematic research report takes an in-depth look at online travel. Firstly, the players section identifies some of the leading companies in online travel and categorizes their position in the value chain. After a thematic briefing, a trends section is then provided which describes both enterprise and consumer trends. An industry analysis is then provided which delves into market growth and forecast, globally and for the world’s largest online travel markets. In addition, use cases of the leading companies within the online travel theme are described and analyzed. Following this is a mergers and acquisitions section which features online travel partnerships. After a timeline which tells the story of the development of online travel in tourism and beyond, a value chain analysis is provided which looks at key industry leaders and laggards. Finally, the leading companies in the online travel theme are outlined, along with their competitive position and sector scorecards are delivered, showing how the different companies in each tourism sector compare in the theme of online travel.
“Within the online travel industry, there has been an increasing focus on personalization by online market players as loyalty to a particular brand is being replaced by a traveler's loyalty to their own preferences. In addition, social media has become a strategic channel for marketing and customer service. Perhaps the demarking feature of online travel is the integration and use of the latest technologies, to the extent that some travel brands such as Airbnb and Trip.com refer to themselves primarily as technology companies. With this, big data, travel apps, artificial intelligence and machine learning play a major role in online travel companies’ strategies, with leading players investing heavily in these areas.
Key Highlights
Companies Mentioned
Booking Holdings
Expedia Group
Trip.com Group
eDreams ODIGEO
Airbnb
easyJet
Ryanair
Winding Tree
Thomas Cook
Hilton
TripAdvisor
Hyatt
Lastminute.com
MakeMyTrip
Marriott International
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