According to a biennial study on the online travel agency (OTA) market shares in the European hotel industry, Booking.com, one of Booking Holdings' leading travel brands, held the highest market share, at **** percent. That year, Expedia, owned by Expedia Group, held the second-highest market share, at **** percent. What are the leading OTAs worldwide? In 2023, Booking Holdings topped the ranking of the leading online travel agencies worldwide based on revenue, generating over ** billion U.S. dollars. Expedia Group and Airbnb followed in the ranking that year, with revenue of nearly ** billion and ** billion U.S. dollars, respectively. While Booking Holdings also reported the highest market cap of leading online travel companies worldwide in 2023, Airbnb ranked second in that case, ahead of Trip.com Group. How big is the online travel market? As estimated, the online travel market size worldwide amounted to just under *** billion U.S. dollars in 2023. When breaking down travel and tourism's global revenue by sales channels, the prominent role played by online transactions becomes clear, as they accounted for over ********** of travel and tourism's total revenue in 2023.
This statistic shows the share of online travel agency shoppers, by those who book their travel on the OTA website or on the travel suppliers website, in 2014. During the survey, 68 percent of survey respondents indicated that when shop on OTA website, they book their flights on the travel suppliers website.
OTA industry - additional information
Online travel agencies or OTAs are a type of travel websites which enable consumers to plan, search and book travel. These sites can be used for both leisure and business travel, with different platforms offering different types of services. Rentalcars.com, a subsidiary of the Price Line Group, offers customers the chance to book rental cars online 24 hours a day, whereas Booking.com, another Priceline brand, is focused on the accommodation market, and allows travelers to search for and compare prices of hotels by destination and other variables. Other sites such as Expedia.com, a subsidiary of Expedia Inc., markets a variety of travel types including, hotels, flights, rental cars and cruises.
The OTA industry is becoming the largest sector of the travel agency industry. In 2014, the largest travel agency in the world was the OTA conglomerate Expedia Inc. with sales of 50.4 billion U.S. dollars. This was closely followed by another OTA company the Priceline Group with sales of 50.3 billion U.S. dollars. The success of these companies does not seem to be slowing. Expedia, for example, has increased its worldwide revenue by almost one billion U.S. dollars per year for the last two years. The Priceline Group has increased its revenue year on year since 2007, from 1.41 billion U.S. dollars in that year to 9.22 billion U.S. dollars in 2015.
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The Online Travel Agency (OTA) market is a dynamic and rapidly evolving sector, exhibiting significant growth potential. With a 2025 market size of $137,450 million and a Compound Annual Growth Rate (CAGR) of 2.9% from 2025-2033, the industry is poised for continued expansion. Key drivers include the increasing adoption of smartphones and mobile internet access, fueling the growth of mobile booking platforms. Furthermore, the rising preference for personalized travel experiences and the increasing demand for seamless booking processes are significant contributors to market growth. The market segmentation reveals a strong preference for online booking channels, reflecting the convenience and accessibility offered by digital platforms. Within applications, making reservations dominates the market, closely followed by translation services and direction guidance, underscoring the comprehensive nature of OTA services. Factors like economic fluctuations and increasing competition amongst established players like Booking Holdings, Expedia, and Ctrip, along with emerging regional players, represent potential restraints. However, continuous innovation in technology, such as AI-powered travel recommendations and personalized itineraries, is likely to counteract these challenges and further stimulate market growth. The regional distribution of the OTA market shows a strong presence across North America, Europe, and Asia-Pacific, with these regions collectively accounting for the majority of market share. The United States, United Kingdom, China, and India are key contributors to this regional dominance. However, substantial growth opportunities exist in emerging markets within South America, the Middle East & Africa, and Southeast Asia, driven by increasing disposable incomes and rising internet penetration. The forecast period (2025-2033) indicates that strategic investments in enhancing user experience, integrating advanced technologies, and expanding into untapped markets will be crucial for sustaining competitive advantage within this fiercely competitive landscape. The industry's ability to adapt to evolving consumer preferences and technological advancements will ultimately define its future success.
This statistic represents the results of a Statista survey among Americans taken in April 2017 regarding air travel. The survey revealed that ** percent of respondents are familiar with the online travel agency (OTA) expedia.com, at least by name.
A 2023 study investigated the potential impact of generative AI investments made by travel suppliers on online travel bookings in the United States. According to the analysis, online travel agencies (OTAs) accounted for nearly ** percent of online travel bookings in the U.S. in 2023. In a scenario based on no travel suppliers' AI investments, the OTA booking share could grow by nearly ** percentage points by 2028, reaching **** percent. On the other hand, a scenario involving significant generative AI investments would increase the share of supplier-direct bookings, making the OTA booking share decline to **** percent in 2028.
This statistic shows the market share of the online travel agencies (OTA) in the U.S. in 2013. The OTA with the largest share of the U.S. market in 2013 was Expedia with 42 percent of the market.
In 2015, only 52 percent of U.S. travelers completed their booking on the OTA site when searching for a hotel, with 49 percent preferring to use the supplier site.
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The global online travel agencies (OTAs) services market size was valued at USD 820 billion in 2023 and is projected to reach USD 1,580 billion by 2032, registering a CAGR of 7.5% during the forecast period. The growth of the OTA market is driven by increasing internet penetration, the proliferation of smartphones, and the rising preference for convenience and efficiency in travel planning and booking. With the rapid advancements in technology and the evolving travel preferences of consumers, the market is poised for substantial expansion in the coming years.
One of the primary growth factors contributing to the expansion of the OTA market is the increasing reliance on digitalization. The advent of high-speed internet and widespread smartphone usage has made it easier for consumers to access travel services online. Additionally, the convenience of comparing prices and services across multiple providers in one platform has bolstered the popularity of OTAs. Travelers today value the ability to customize their travel experiences, and OTAs facilitate this by offering a wide array of choices and user-friendly interfaces.
Another significant growth driver is the rising trend of experiential travel. Modern travelers, particularly millennials and Gen Z, seek unique and personalized travel experiences rather than traditional vacation packages. OTAs have responded to this demand by diversifying their offerings to include local experiences, adventure activities, and custom itineraries. This shift towards personalized travel experiences has been instrumental in boosting the popularity of OTAs, as they provide a platform for exploring and booking these niche travel opportunities.
The expansion of the global tourism industry has also played a crucial role in the growth of the OTA market. With increasing disposable incomes and a growing middle class in emerging economies, there has been a notable surge in international travel. OTAs have capitalized on this trend by expanding their reach and enhancing their services to cater to a global audience. Furthermore, the ease of accessing comprehensive travel information and seamless booking processes offered by OTAs has encouraged more people to travel, thus driving market growth.
From a regional perspective, Asia Pacific is expected to witness the highest growth rate in the OTA market during the forecast period. The rapid economic development, increasing internet penetration, and a burgeoning middle class in countries like China and India are key contributors to this growth. North America and Europe also hold significant market shares, driven by the presence of established OTA players and high travel spending. Meanwhile, Latin America and the Middle East & Africa are emerging as potential markets due to increasing tourism activities and improving digital infrastructure.
The OTA market can be segmented by service type into accommodation booking, transportation booking, vacation packages, and others. Accommodation booking remains the most dominant segment, driven by the constant need for lodging solutions from both leisure and business travelers. OTAs offer a wide range of accommodations, from budget hotels to luxury resorts, catering to diverse traveler preferences. The ability to read reviews, compare prices, and book instantly online has made accommodation booking through OTAs highly popular.
Transportation booking is another critical segment within the OTA market. This includes booking flights, trains, car rentals, and other forms of transportation. The convenience of booking transportation in conjunction with accommodation and other travel services has made OTAs a preferred choice for travelers. The emergence of low-cost carriers and increasing competition among transportation providers have further fueled the growth of this segment, as consumers seek the best deals through OTA platforms.
Vacation packages offered by OTAs have gained traction, especially among families and groups looking for hassle-free travel solutions. These packages often include flights, accommodations, and sometimes activities, providing a comprehensive travel experience. The ability to book an entire trip in one go appeals to many travelers, leading to the steady growth of this segment. OTAs continuously innovate their vacation packages, offering customizable options to cater to the diverse needs of travelers.
The 'others' segment encompasses a variety of travel-related services such as tr
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The Online Travel Agency Market report segments the industry into Service Type (Transportation, Vacation Packages, Accommodation), Device Platform (Mobile, Desktop), Payment Modes (UPI, E-Wallet, Debit / Credit Card, Others (Vouchers, Discount Codes)), and Geography (North America, Europe, Asia Pacific, South America, Middle East). Get five years of historical data alongside five-year market forecasts.
The combined global revenue of the selected leading online travel agencies (OTAs) increased in 2024 over the previous year. Over the period considered, Booking Holdings reported the highest figure, generating 23.7 billion U.S. dollars in 2024. That year, Expedia Group and Airbnb followed in the ranking, with revenue of around 13.7 billion and 11.1 billion U.S. dollars, respectively. What are the most visited travel websites? In 2025, booking.com, the website of Booking Holdings' flagship brand, topped the ranking of the most visited travel and tourism website worldwide, placing ahead of tripadvisor.com and airbnb.com. When looking at the traffic breakdown of booking.com by country, the United States, Germany, and the United Kingdom accounted for the highest share of website visits that year. How big is the online travel market? As estimated by the Statista Mobility Market Insights, online sales channels in the travel and tourism market worldwide generated roughly 70 percent of total revenue in 2024. That year, travel and tourism market's global revenue, including hotels, package holidays, vacation rentals, camping, and cruises, exceeded 900 billion U.S. dollars.
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The online travel agency (OTA) services market, valued at approximately $X million in 2025 (estimated based on the provided 1988 market size and 8.7% CAGR), is poised for significant growth over the forecast period (2025-2033). Several factors drive this expansion. The increasing adoption of smartphones and convenient access to high-speed internet are fueling online booking habits. Furthermore, the growing preference for personalized travel experiences and the emergence of innovative travel booking platforms offering curated itineraries and AI-powered recommendations are bolstering market growth. The diversification of offerings, including flight, hotel, car rental, and package deals, cater to a broader customer base and enhance revenue streams for OTAs. Competitive pricing strategies and loyalty programs implemented by major players further stimulate market demand. However, challenges remain. Fluctuations in fuel prices, economic downturns affecting consumer spending, and increasing security concerns regarding online transactions could potentially impede growth. Nevertheless, the overall trajectory points towards a robust expansion fueled by technological advancements and evolving consumer preferences. Regional variations significantly impact market performance. North America and Europe currently dominate the market share, driven by high internet penetration and established travel habits. However, the Asia-Pacific region exhibits high growth potential due to rapid economic development, increasing disposable incomes, and rising internet usage in countries like China and India. The market segmentation by application (desktop, mobile, tablet) and booking type (flights, hotels, packages etc.) provides valuable insights for strategic market entry and expansion. The competitive landscape is dominated by established players like Booking Holdings, Expedia, and Trip.com, who continually innovate to maintain their market leadership. The presence of smaller, regional players, however, creates niche opportunities within specific geographic markets or travel segments. The forecast suggests sustained growth, driven by increasing online travel adoption globally.
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The North America online travel market is projected to reach a value of USD 443.38 million by 2033, expanding at a CAGR of 9.80% from 2023 to 2033. The market growth is primarily driven by the increasing adoption of online travel booking platforms, rising disposable income, and growing popularity of leisure travel. Additionally, the convenience and cost-effectiveness offered by online travel agents (OTAs) have further fueled market expansion. Major drivers of the market include the surge in mobile travel bookings, the rise of budget airlines, and the growing popularity of package tours. Holiday package bookings, desktop bookings, and direct bookings are the leading segments in terms of service type, platform, and mode of booking, respectively. The United States holds a dominant position in the North American online travel market and is expected to maintain its dominance throughout the forecast period. Key players in the market include JTB Americas Group, TripAdvisor, Booking Holdings, Expedia, and Airbnb, among others. Recent developments include: In November 2023, Airbnb has acquired a startup called Gameplanner.AI in a deal valued at USD 200 million. Some of Airbnb's AI initiatives will be accelerated by Gameplanner.AI., In July 2023, Tripadvisor has partnered with OpenAI on travel itinerary generator. The AI-powered planning tool will create personalized day-by-day trip itineraries using traveller reviews.. Key drivers for this market are: Rise in Demand for Work-Life Balance, Cost Savings for Both Travelers and Employers. Potential restraints include: Stringent Company Policies, Suitability of Business Travel Destinations. Notable trends are: The Expanding Tourism Industry in the United States is Helping the Market in Recording More Transactions.
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U.S. Heritage Tourism Market size is expected to be around USD 196.4 Billion by 2034, from USD 128.9 Billion in 2024, at a CAGR of 4.3%.
This statistic represents the results of a Statista survey among Americans taken in April 2017 regarding air travel. The survey revealed that some ** percent of respondents had used expedia.com to compare fares.
Latin America seems to be a competitive market for online travel companies. In 2019, Argentina-based Despegar.com held the largest share of the online travel market in the region, with less than ** percent. Brazilian CVC and U.S. American Booking.com followed in the list that year, with a combined share of ** percent. Airbnb, a C2C based rental application, held a market share of ***** percent in Latin America that same year.
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US Solo Travel Market size is expected to be worth around USD 311.6 Billion by 2034, from USD 95.1 Billion in 2024, at a CAGR of 12.6%.
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The digitalization of the travel and tourism industry is experiencing robust growth, driven by increasing smartphone penetration, rising internet usage, and a preference for online booking platforms. This transformation is reshaping how travelers plan and book trips, impacting businesses across the sector. Let's assume a 2025 market size of $250 billion for the digitalization of the travel and tourism industry, based on the significant market share of online travel agencies (OTAs) and the substantial investment in digital travel technologies. With a Compound Annual Growth Rate (CAGR) of 12% projected for the forecast period (2025-2033), this market is poised for substantial expansion. This growth is fueled by several key factors, including the increasing adoption of dynamic pricing software, personalized travel recommendations powered by AI, and the continued rise of mobile-first booking experiences. The market segmentation reflects this dynamic landscape, with significant contributions from travel search and booking engines, dynamic pricing solutions, and a diverse range of other digital travel tools. The geographical distribution showcases strong growth across all regions, with North America and Asia-Pacific leading in market share due to their large consumer bases and advanced digital infrastructure. The continuous evolution of technology continues to propel this growth. Innovations such as virtual and augmented reality experiences are enhancing customer engagement, while blockchain technology is improving security and transparency in transactions. However, challenges remain, including cybersecurity threats, data privacy concerns, and the need for consistent digital infrastructure development across all regions. Furthermore, the increasing competition among established players and new entrants necessitates a continuous focus on innovation and customer-centric approaches. Addressing these challenges and capitalizing on emerging trends will be crucial for businesses to thrive in this rapidly evolving digital travel landscape. The projected market size in 2033, based on the 12% CAGR, will likely surpass $800 billion, illustrating the immense potential for growth in this dynamic sector.
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The global travel accommodation market, currently experiencing robust growth with a CAGR exceeding 11%, is projected to reach substantial value by 2033. Driven by increasing disposable incomes, a rising global middle class, and the persistent popularity of leisure and business travel, this market demonstrates significant potential. Key growth drivers include the proliferation of online travel agencies (OTAs) offering diverse booking options, the increasing adoption of mobile booking applications providing convenience and accessibility, and the expanding range of accommodation choices, from budget-friendly hostels to luxury resorts. Furthermore, the integration of technology, such as AI-powered recommendation engines and personalized travel itineraries, enhances the customer experience and fuels market expansion. While challenges exist, such as economic fluctuations impacting travel spending and potential disruptions from geopolitical events, the long-term outlook remains positive, fueled by the enduring human desire for exploration and new experiences. The market segmentation reveals a dynamic landscape. Mobile applications are gaining significant traction, surpassing website bookings in many regions due to their convenience and widespread smartphone penetration. Third-party online travel portals dominate the booking mode segment, leveraging their extensive networks and marketing reach. However, direct bookings via captive portals are steadily increasing as hotels and accommodation providers invest in their own branding and online platforms to enhance customer loyalty and reduce reliance on OTAs. Regional variations exist, with North America and Europe currently holding the largest market shares, though the Asia-Pacific region is anticipated to witness the most significant growth in the coming years, fueled by the rapid economic development and increasing tourism in countries like China and India. Competition amongst major players like Booking.com, Expedia, Airbnb, and others remains intense, necessitating continuous innovation and strategic expansion to maintain market share. Recent developments include: On March 29, 2022, Accor partnered with D-EDGE to provide the next-generation CRS to their hotels worldwide. Accor hotels will progressively and seamlessly switch from the TARS to the D-EDGE CRS. The unique connectivity provided by D-EDGE, compared to any other system, will power all Accor hotels to maximize their distribution., On November 10, 2021, Agoda announced the expansion of its advertising solutions to help partners tap into the platform's audience of travelers, as well as rebranding its advertising business to Agoda Media Solutions to align with its latest offerings.. Notable trends are: Rising Internet Usage Pushing Customers Towards Online Accommodation in France..
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According to Cognitive Market Research, the global OTA Transmission Platform Market size will be USD 115.9 million in 2025. It will expand at a compound annual growth rate (CAGR) of 4.50% from 2025 to 2033.
North America held the major market share for more than 40% of the global revenue with a market size of USD 42.88 million in 2025 and will grow at a compound annual growth rate (CAGR) of 3.3% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 33.61 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 27.82 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 4.40 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.8% from 2025 to 2033.
Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 4.64 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 2.55 million in 2025 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2025 to 2033.
Automotive OTA category is the fastest growing segment of the OTA Transmission Platform industry
Market Dynamics of OTA Transmission Platform Market
Key Drivers for OTA Transmission Platform Market
Growing consumers' preference for streaming services to Boost Market Growth
Throughout the projected period, the growth of 5G networks is anticipated to support market expansion. In comparison to earlier mobile network generations, 5G networks offer significantly faster data transfer speeds. For processing large data, such as software upgrades, system patches, and new features, this enhanced bandwidth makes it possible for OTA updates to be transmitted more quickly and efficiently. By ensuring that OTA updates are distributed to numerous devices without any delays or connectivity issues, this enhances the user experience in general. More connected devices can be supported by 5G networks. This feature is essential for situations when OTA updates need to be effectively distributed to a large number of devices, like smart cities, industrial IoT applications, and extensive automotive deployments. According to a 2023 article on the U.S. Department of Commerce's National Telecommunications and Information Administration website, 5.9 billion 5G connections are expected worldwide by the end of 2027.
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Rising demand for electric vehicles to Boost Market Growth
The rising demand for electric vehicles is expected to propel the OTA transmission platform marker's growth during the predicted period. Approximately 14 million new electric vehicles were registered globally in 2023, according to a 2024 article on the International Energy Agency's (IEA) website. Software plays a key role in controlling several aspects of electric cars, such as energy efficiency, battery management, and autonomous driving. OTA platforms ensure that electric cars are up to date with the latest technology and performance improvements by enabling manufacturers to deliver updates and adjustments to these systems without requiring physical interaction. The market for OTA transmission platforms is expanding as a result of manufacturers' continuous efforts to improve EV software's performance, range, and user experience. These advancements may be quickly distributed thanks to OTA transmission platforms. These improvements don't require drivers to go to service facilities, and they can assist increase vehicle efficiency and the entire driving experience. OTA updates have the ability to improve battery performance, fix possible problems, and include new algorithms to increase energy efficiency.
Restraint Factor for the OTA Transmission Platform Market
Growing difficulty to link platforms Will Limit Market Growth
The wide range of technologies and standards used by different broadcasting and streaming devices makes it difficult to link platforms within the ...
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Having a forecasted market value of USD 601.8 million by 2025, the industry is anticipated to grow substantially to an estimated value of USD 2,300 million by 2035, depicting a strong CAGR of 14.4% during the period.
Metrics | Values |
---|---|
Industry Size (2025E) | USD 601.8 million |
Industry Value (2035F) | USD 2,300 million |
CAGR (2025 to 2035) | 14.4% |
Country-wise Analysis
Country | CAGR (2025 to 2035) |
---|---|
USA | 9.2% |
UK | 8.5% |
France | 7.8% |
Germany | 8.1% |
Italy | 7.5% |
South Korea | 9% |
Japan | 7.3% |
China | 10.5% |
Australia | 8% |
New Zealand | 7.6% |
Competitive Outlook
Company Name | Estimated Market Share (%) |
---|---|
Booking Holdings | 38.7% |
Expedia Group | 23.3% |
Airbnb | 17.9% |
Trip.com Group | 11.4% |
TripAdvisor | 5% |
Other Companies | 3.7% |
Online Travel Agencies IT spending Market Size 2024-2028
The online travel agencies IT spending market size is forecast to increase by USD 2.66 billion at a CAGR of 17.19% between 2023 and 2028.
Online travel agencies (OTAs) have witnessed significant IT spending in recent years, driven by various trends and challenges. The adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML) is on the rise, enabling personalized recommendations and streamlined operations. Furthermore, the increasing popularity of augmented reality (AR) and virtual reality (VR) technologies In the travel industry offers interactive experiences for customers. However, the market is also facing challenges related to data security and privacy concerns, necessitating strong IT infrastructure and compliance with regulations. Blockchain technology is another emerging trend, providing secure and transparent transactions. Smartphones continue to dominate the travel booking landscape, necessitating mobile optimization and responsive design.
Data analytics plays a crucial role in gaining insights into customer behavior and preferences, enabling targeted marketing and improved customer experience. In the future, the travel industry may see the integration of metaverse and virtual travel experiences, offering unique and interactive ways to plan and book trips. Overall, OTAs must invest in IT solutions that cater to these trends and challenges to remain competitive and provide superior customer experiences.
What will be the Size of the Online Travel Agencies IT spending Market During the Forecast Period?
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The market continues to evolve, driven by the need for software development, website optimization, and mobile application optimization to enhance user experience. Cybersecurity measures and data analytics tools are essential investments to safeguard customer information and personalize recommendations. IT services spending also includes hardware investments for data centers and cloud infrastructure. Customer relationship management systems, artificial intelligence, and machine learning enable real-time bookings and personalized travel packages. Digital transformation In the travel industry is accelerating, with the integration of metaverse technologies, real-time data analytics, and advanced AI for transportation and accommodation booking. Social media integration and adventure travel packages are popular trends, while online payments and blockchain technology ensure secure transactions. Overall, the market is growing strongly, with a focus on comprehensive travel management solutions and continuous innovation.
How is this Online Travel Agencies IT spending Industry segmented and which is the largest segment?
The online travel agencies IT spending industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Type
Software spending
IT services spending
Hardware spending
End-user
Large enterprises
Small
medium enterprises (SMEs)
Geography
North America
Canada
US
Europe
Germany
UK
APAC
China
South America
Middle East and Africa
By Type Insights
The software spending segment is estimated to witness significant growth during the forecast period.
Online travel agencies invest significantly in IT solutions to enhance their offerings, improve customer experience, and drive business growth. Software spending is a crucial component of this IT budget, encompassing advanced booking engines, website optimization, mobile application optimization, cybersecurity measures, data analytics tools, IT services, hardware, customer relationship management, artificial intelligence, machine learning, metaverse, VR experiences, blockchain-based solutions, and more. The implementation of sophisticated booking engines is a major factor fueling this spending trend, as these platforms enable real-time bookings, personalized recommendations, comprehensive travel management, and digital transformation.
Additionally, online travel agencies prioritize data security, real-time data analytics, mobile accessibility, and advanced AI to deliver contactless travel solutions and virtual experiences. The travel technology landscape is continually evolving, with online travel agencies leveraging IT investments to offer travel services such as flights, accommodations, rental cars, and vacation packages, as well as transportation booking, accommodation booking, social media, adventure travel, online payments, social media advertising, and travel experiences.
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The software spen
According to a biennial study on the online travel agency (OTA) market shares in the European hotel industry, Booking.com, one of Booking Holdings' leading travel brands, held the highest market share, at **** percent. That year, Expedia, owned by Expedia Group, held the second-highest market share, at **** percent. What are the leading OTAs worldwide? In 2023, Booking Holdings topped the ranking of the leading online travel agencies worldwide based on revenue, generating over ** billion U.S. dollars. Expedia Group and Airbnb followed in the ranking that year, with revenue of nearly ** billion and ** billion U.S. dollars, respectively. While Booking Holdings also reported the highest market cap of leading online travel companies worldwide in 2023, Airbnb ranked second in that case, ahead of Trip.com Group. How big is the online travel market? As estimated, the online travel market size worldwide amounted to just under *** billion U.S. dollars in 2023. When breaking down travel and tourism's global revenue by sales channels, the prominent role played by online transactions becomes clear, as they accounted for over ********** of travel and tourism's total revenue in 2023.