Europe Online Travel Market Size
|Study Period:||2019- 2028|
*Disclaimer: Major Players sorted in no particular order
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Europe Online Travel Market Analysis
Europe Online Travel Market is expected to achieve a CAGR of 8% during the forecast period due to the increasing use of the online channel in the region along with increasing preference from business travellers. Online bookings are advancing faster than the overall market, with most of the growth coming from suppliers' and OTAs' mobile platforms. In Europe, a focus on tourism is seen as one of the key pillars for job growth and inclusive growth. Social media platforms have emerged as a prominent marketing opportunity for online travel companies in recent years. Given the large-scale use of social media by consumers, their preferences and interests are easily tracked, which helps travel companies target those that are likely to opt for travel experiences and who can also afford travel packages. These factors offer online travel companies highly comprehensive insights into customer wants and behaviours.
With the emergence of the COVID-19 pandemic, Europe's online travel industry experienced a sharp fall in demand, especially in 2020. The worldwide spread of the coronavirus resulted in complete lockdown and border closures in a number of countries. Moreover, the shutdown of the airline industry and the increasing fear of catching the coronavirus while traveling pushed people to stay at home. All these factors negatively impacted the growth of the market. However, the market bounced back in 2021 while growing at a significant rate from 2022 onward.
Europe Online Travel Industry Segmentation
Online travel is the type of travel that is booked online through a website or a mobile application that has a specialty in making the travel arrangements, such as flight tickets, car rentals, and packages. A complete background analysis of the market, including the analysis of market size and forecast, industry trends, growth drivers, and leading players, is provided in the report. Additionally, the report features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key stakeholders in the industry’s value chain. The market is segmented by service type (transportation, travel accommodations, vacation packages, and others), booking type (online travel agencies, direct travel suppliers), platform (desktop, mobile), and country (United Kingdom, Germany, France, Italy, and Rest of Europe). The report offers market size and forecast values for the European Online Travel Market in USD billion for the above segments.
|Other Service Types|
|Online Travel Agencies|
|Direct Travel Suppliers|
|Rest of Europe|
Europe Online Travel Market Trends
This section covers the major market trends shaping the Europe Online Travel Market according to our research experts:
Shift towards Mobile Phones for Travel Booking
Over the last few years, it has been observed that an increasing number of consumers are moving away from using desktop computers and instead using their mobile devices to research and book travel. Booking via smartphones is gaining more traction in the market as smartphone penetration rises and customers get more used to paying online. The industry has undergone a number of changes over the past decade due to advances in technology. Online travel agents' service models offer a variety of services through a single platform. The travel booking process has undergone a dramatic shift from physical booking to web booking and is now a mobile platform.
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Online Travel Market in Germany Growing Steadily
Germany, with its strong economy and high consumer confidence, is Europe’s largest travel market. While the majority of Germans still book travel offline, online and mobile bookings are growing quickly. Germany’s online travel market has grown more slowly than some other European countries due to the popularity of offline distribution and the leading role of tour operators. The growth of digital booking, now fueled by mobile, will continue to outpace the overall market. Despite relatively low online travel penetration, German travellers have been quick to adopt mobile technology. High smartphone penetration and the growing availability of 5G devices will drive the adoption of new types of customer interactions throughout the travel journey, including emerging features such as voice-based services and augmented reality.
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Europe Online Travel Industry Overview
The report covers major international players operating in the European online travel market. In terms of market share, a few of the major players currently dominate the market. However, with technological advancement and product innovation, midsize to smaller companies are increasing their market presence. It has major players Booking.com, eDreams, Lastminute.com, Expedia and HRS
Europe Online Travel Market Leaders
*Disclaimer: Major Players sorted in no particular order
Europe Online Travel Market News
- 15th November 2022: Booking.com, the leading digital travel platform, announced a series of new features for accommodation, car rental, and flights, to mark the one-year anniversary of its sustainability program launched in 2021.
- July 27, 2022: Booking.com launched the Ultimate Pride Amsterdam Experience to celebrate the 25th edition of the iconic Canal Parade.
- May 2022: lastminute.com, Europe’s travel-tech leader, launched its first physical gift card, which will be available at a number of the UK’s major retailers, like Morrisons, Tesco, and Amazon.
- 2nd February 2022: eDreams ODIGEO, Europe’s largest online travel company, the second largest in terms of flights globally, and one of the largest European e-commerce businesses, announced that they have signed a New Distribution Capability (NDC) agreement with British Airways and Iberia, both part of IAG, one of the world’s leading airline groups.
Europe Online Travel Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on impact of technology in the Market
4.5 Porters Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Service Type
5.1.2 Travel Accommodation
5.1.3 Vacation Packages
5.1.4 Other Service Types
5.2 Booking Type
5.2.1 Online Travel Agencies
5.2.2 Direct Travel Suppliers
5.4.1 United Kingdom
5.4.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.11 Unique Villas
6.2.12 Hostelworld Group Plc
6.2.14 TUI AG*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Europe Online Travel Market Research FAQs
What is the study period of this market?
The Europe Online Travel Market is studied from 2019 - 2028.
What is the growth rate of Europe Online Travel Market?
The Europe Online Travel Market is growing at a CAGR of 8% over the next 5 years.
Who are the key players in Europe Online Travel Market?
Booking.com, eDreams, Lastminute.com, Expedia, HRS are the major companies operating in Europe Online Travel Market.
Europe Online Travel Industry Report
Statistics for the 2023 Europe Online Travel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Online Travel analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.