Market Trends of Europe Online Travel Industry
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.
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.
