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Mobile Travel Booking Market By Payment Mode (Debit/Credit Card, UPI, E-Wallets, and Others), Service Type (Transportation, Travel Accommodation, and Vacation Packages) and Age Group (22-31, 32-43, 44-56, and >56): Global Opportunity Analysis and Industry Forecast 2020-2027

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Dec 2020 | 111 Views
 
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Mobile Travel Booking Market Outlook – 2027 

The global market for mobile travel booking is experiencing a significant growth, and is expected to grow in the future, owing rise in adoption of mobile payments and bookings services across the globe. Mobile travel booking is used by consumers to book their travel using smartphones. In addition, with mobile booking features integrated in travel websites, customers can explore various offerings and book directly from their smartphones. It allows customers the convenience of booking their journey from anywhere, rather than going physically to booking offices. 

The global mobile travel booking market is segmented on the basis of payment mode, service type, age group, and region. Based on payment mode, the market is divided into debit/credit card, UPI, e-wallets, and others. In terms of service type, the market is categorized into transportation, travel accommodation, and vacation packages. On the basis of age group, the market is segmented into 22-31, 32-43, 44-56, and >56. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global mobile travel booking industry include MakeMyTrip Pvt. Ltd., Airbnb Inc., HomeAway, trivago, Expedia Inc., Delta Air Lines Inc., Skyscanner Ltd., KAYAK, Cleartrip Pvt. Ltd., and Wego Pte. Ltd. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global mobile travel booking market. 

Top Impacting Factors

Rise in shift from conventional office bookings to quick, faster, easier, and versatile mobile bookings across the globe drives mobile travel booking market growth. In addition, surge in penetration of smartphones in emerging countries of Asia-Pacific fuels growth of the market. However, lack of awareness among developing nations about mobile travel booking and growth in security issues in mobile phones hamper growth of the market. Furthermore, rise in penetration of internet and adoption of advance technologies such as machine learning and artificial intelligence by the travel industry is expected to provide lucrative opportunities for the market. 

Personalized Offerings to Boost Sales

Successful airline and travel brands are collecting preference-based information to effectively engage and address customer needs. In addition, various travel companies are collecting large source of data from various platforms to understand the need of customers to improve their market share as well as profit margin. Furthermore, travel booking companies have added chatbots to their applications to easily answer consumer needs immediately. For instance, in 2018, American Express, acquired a Chatbot company named Mezi, which help travelers by providing travel recommendations and plans at the request of the user.  

Growth in Demand For Mobile Travel Booking Services

Many travelers and individuals across the globe choose mobile as a tool for research and to schedule their trip. Mobile travel bookings have seen a spike in recent years, owing to rise in adoption of mobile travel booking solutions across the globe. MakeMyTrip Limited, a provider of digital travel booking services based in India, has reported that 52% of flight bookings were made with smartphones in 2019. With growth in trend, mobile travel booking providers continue to make the booking system more mobile-friendly. They are developing responsive operating systems to create great user with a pleasant experience on mobile phones and tablets. 

Key Benefits of the Report

  • This study presents analytical depiction of the global mobile travel booking market size along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global mobile travel booking market share.     
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed mobile travel booking market analysis based on the present and future competitive intensity of the market.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2019-2027

Base Year Considered

2019

Forecast Period

2020-2027

Forecast Units

Value ($)

Segments Covered

Payment Mode, Service Type, Age Group, and Region

Regions Covered

North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East & Africa

Companies Covered

Major players analyzed in the report include MakeMyTrip Pvt. Ltd., Airbnb Inc., HomeAway, trivago, Expedia Inc., Delta Air Lines Inc., Skyscanner Ltd., KAYAK, Cleartrip Pvt. Ltd., and Wego Pte. Ltd.


COVID-19 Scenario Analysis

  • In light of the pandemic, different types of restrictions and regulations have been imposed on individuals around the globe. In particular, transport restrictions were heavily implemented to combat transmission of the virus. 
  • Globally, air, sea, road, and rail travel has been suspended for short periods and cross-border travel has been prohibited. Not only did the travel booking industry witness a drop in new bookings, but cancelations and refunds were also reported at a higher rate than ever before.
  • Overall, the corona virus pandemic is expected to have a negative impact on the growth of the mobile travel booking market.

Mobile Travel Booking Market Key Segments

Segments

Sub-Segments

Payment Mode

  • Debit/Credit Card
  • UPI
  • E-Wallets
  • Others

Service Type

  • Transportation
  • Travel Accommodation
  • Vacation Packages

Age

  • 22-31
  • 32-43
  • 44-56
  • >56

 

Questions Answered in the Mobile Travel Booking Market Research Report 

  • Who are the leading market players active in the mobile travel booking market?
  • What would be the detailed impact of COVID-19 on the global mobile travel booking market?
  • How current mobile travel booking market trends would influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the global mobile travel booking market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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