LONDON, July 21, 2022 (GLOBE NEWSWIRE) — The “Online Travel, 2022 Update – Thematic Research” report offered by GlobalData Plc provides an overview of the online travel theme and identifies the need for online travel to engage with travelers and succeed in a highly fragmented and saturated marketplace. This report also provides a detailed industry analysis of online travel, discussing how it is being utilized across the travel and tourism value chain.
According to the thematic intelligence report published by GlobalData, the global online travel intermediaries’ market value reached $236.7 billion in 2020 and is expected to grow at a CAGR of more than 15% by 2025. Technology and digitization continue to revolutionize the travel industry as both consumers and companies embrace online travel. Companies have been able to utilize online platforms as a way of enabling transactions, promoting sources of information, as a key marketing tool, and directly communicating with the end-user. In all, the leading players in travel and tourism are those that have embraced digitalization and focused on developing a robust online presence. To differentiate and stay ahead of the competition, the true leaders are those that have recognized the importance of social media and personalization and invested in technologies such as Big Data, artificial intelligence, and travel apps. Airbnb is seen as a leader in this space and has placed personalized and curated experiences at the…
