"Increasing smartphone penetration is driving the mobile travel booking market"

Globally, the mobile travel booking market is expected to grow with a CAGR of 12.2% during the forecast period from 2019 to 2027, starting from US$ 858.0 Mn in 2018. The growth of the market is attributed to the increasing adoption of the smartphone across the globe. The number of the smartphone users worldwide has significantly increases over the past five years. The number of smartphones has increased from 1.57 Bn in 2014 to 2.53 Bn in 2018. This increase is mainly driven by the decline in the price of the smartphones and increasing competition among the market players.

Moreover, the launch of new smartphones with the upgraded features and advance technologies is further augmenting the demand of the smartphones. Moreover, the rapid advancement in the technology along with the rise in the disposable incomes of the population across the emerging economies is further accelerating the adoption of the mobile travel booking market. Additionally, the public private partnership in the transportation space to provide better traveling experience to the customer is further propelling the adoption of the mobile travel booking solutions.

"Accommodation booking are dominating the mobile travel bookings market"

Accommodation booking accounts for majority share in the mobile travel booking market. The increasing adoption of the digitalization among the hospitality sector is supporting the growth of the market. The competition in the hospitality sector has increase significantly. As a result, the customers have multiple options to choose. Therefore, the organization started to focus on enhancing the customer experience to gain customer loyalty and reduce the churn rate. Hence, the organization is moving towards more customer centric business models to provide service to the customers on their choice of medium. This is encouraging the adoption of the mobile travel booking solutions among the hospitality sector.

"North America is leading the mobile travel bookings market"

North America is leading the mobile travel bookings market with over 40% share in the revenue in 2018. The market is driven by the growing adoption of the internet services in the region. North America is the home of more than 320 million internet users across the globe. The internet penetration rate in the region is one of the highest worldwide with more than 89% population across the region has access to the internet services. Moreover, the increasing numbers of the smartphone users in the region are also propelling the demand for the mobile travel booking market.

The major players in the mobile travel bookings market are CheapOair.Com, Ctrip.Com International Ltd., Expedia, Inc., Hostelworld Group, Hotel Urbano Travel, MakeMyTrip Limited, Priceline Group Inc., Thomas Cook Group Plc., Tourism SA, Trip Advisor LLC, and Trivago GmbH.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Mobile Travel Booking market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Mobile Travel Booking market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Mobile Travel Booking market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Mobile Travel Booking market?
• Which is the largest regional market for Mobile Travel Booking market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Mobile Travel Booking market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Mobile Travel Booking market worldwide?