Thematic Intelligence: Travel Apps (2024)

Thematic Intelligence: Travel Apps (2024)

Summary

This thematic report provides an overview of the impact travel apps has on the travel sector and seeks to understand some of the contributory factors. The key trends within this theme are split into three categories: consumer trends, enterprise trends, and industry trends. Several case studies are included to analyze the multiple ways countries and companies have responded to the impact of this theme’s growth and what they are doing to grow with this theme.

This thematic research report takes an in-depth look at the theme of travel apps and the impact it has on the travel and tourism industry. This report analyzes the players impacted by this theme alongside the contributing trends, destination trends, unintended opportunities, and trends that have emerged as a result of travel apps. It then dives deep into an industry analysis, presenting several real-life case studies looking at how companies have responded to the impact of this theme on their operations. Recommendations are also offered for the travel sector, alongside a description of companies mentioned throughout. This report focus is on travel apps.

Key Highlights

• Globally, travelers are increasingly online and more mobile savvy than ever before. The online travel market value is expected to increase going forward, according to GlobalData forecasts. By 2026, market value is projected to reach $662.63 billion (CAGR 2023-26: 7.98%) as travelers increasingly switch to online travel intermediaries over in-store travel agents.
• According to GlobalData’s Q4 2023 Consumer Survey, 80% of global respondents stated that ‘time saving’ is either ‘essential’ or ‘nice to have’ when making a purchase and 83% of global respondents stated that ‘convenience’ is either ‘essential’ or ‘nice to have’ when making a purchasing choice.
• Travel apps allow companies to offer a more convenient service, which often saves both time and money for consumers. When looking specifically at OTAs (online travel agencies), the most successful companies in this sub-sector give little reason for customers to shop elsewhere when purchasing the main services and products that create a domestic or international trip.
• The number of consumers who access the internet via mobile devices is increasing across the globe. When assessing the increase in the number of mobile internet subscribers across G7 nations (an organization of the world's seven largest so called ‘advanced’ economies, and therefore important tourism source markets), all countries displayed healthy growth.

Scope

• This thematic report provides an overview of the impact travel apps has on the travel sector and seeks to understand some of the contributory factors. The key trends within this theme are split into three categories: technology trends, consumer trends, and industry trends. Several case studies are included to analyze the multiple ways countries and companies have responded to the impact of this theme’s growth and what they are doing to grow with this theme.

Reasons to Buy

• Understand the current travel apps trends within the travel landscape today and how these will escalate in the near future.
• Assess how travel and tourism companies such as tour operators, OTAs and DMOs are utilizing travel apps to drive revenues.
• Acknowledge the potential pitfalls of using travel by understanding the social, cultural, and environmental effects on the destination.
• Discover recommendations for businesses involved in travel apps.
• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage. All across the travel and tourism supply chain, now have an opportunity to capitalize on travel apps, and there are notable examples of this. Therefore, all should buy this report to fully understand how this theme will continue to be a key theme in the future travel landscape.