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Online travel bookings market to hit $1.14 trillion by 2023

Online travel bookings market to hit $1.14 trillion by 2023

The Online Travel Bookings Market is expected to reach $1,143.6 billion by 2023, rising at a market growth of 10.8% CAGR during the forecast period.

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The KBV Cardinal Matrix is a visual representation about the key players in the industry. The matrix is designed considering the major strategic developments including Mergers & Acquisitions, product launches, partnership among others and the financial strength of the company in the considered years.

Based on the Analysis presented in the Cardinal matrix, Priceline Group Inc.

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and Expedia, Inc. are the forerunners in the Online Travel Bookings market.

KBV Cardinal Matrix – Online Travel Bookings Market Competition

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Source: KBV Research Analysis, Company Publications and Secondary Research

Companies are doing partnerships and collaborations in order to enhance their market reach in online travel booking market space. For example, Expedia, Inc. has announced a new partnership with Marriott International, Inc., which integrates Expedia’s technology to power Marriott’s own dynamic packaging platform “Vacations by Marriott” on Marriott.com.

Recently, Expedia, Inc., and SilverRail Technologies, Inc. entered into definitive agreement in which Expedia® will acquire a majority stake of SilverRail.

Companies such as TripAdvisor LLC, Fareportal (Cheapoair.Com) and MakeMytrip Limited are some of the key innovators in Online Travel Bookings Market. These companies are following acquisitions as well as collaborating with other industry participants in order to expand their market reach.

The detailed illustration of the recent strategic developments depicted in KBV Cardinal Matrix Chart is discussed in the report.

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