The Business Research Company’s latest report Online Travel Agent Global Market Report 2020 covers Online Travel Agent market drivers, Online Travel Agent market trends, Online Travel Agent market segments, Online Travel Agent market growth rate, Online Travel Agent market major players, and Online Travel Agent market size. The report provides in-depth analysis of the impact of COVID-19 on the Online Travel Agent industry, along with revised market numbers due to the effects of the coronavirus.
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Online Travel Agent Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global online travel agent market reached a value of nearly $744.7 billion in 2019, having increased at a compound annual growth rate (CAGR) of 7.9% since 2015. The market declined from $744.7 billion in 2019 to $595.8 billion in 2020 at a rate of -20.0%. The decrease is mainly due to COVID-19 pandemic across all countries in the world as most countries went into lockdown with severe travel restrictions. Subsequently, industries such as airlines, railways, hospitality, and tourism all suffered major setbacks. The market is expected to grow at a CAGR of 14.8% from 2021 and reach $902.2 billion in 2023.
The report covers the online travel agent market’s segments-
1) By Service Type: Vacation Packages, Travel, Accommodation.
2) By Platform: Mobile/Tablet Based, Desktop Based.
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