Online Accommodation Booking Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Online Accommodation Booking Market Analysis
The market is expected to grow steadily in the future by increasing its share in the overall lodging market. It is anticipated by industry experts that by 2022, about 50% of the hotel booking revenues are to be derived online with an even higher share for short term rentals. The majority of the online accommodation market is presently controlled by several online intermediaries, such as online travel agencies (OTAs). The world's top two OTAs, Booking Holdings Inc., and Expedia Group Inc., together accounted for nearly 1 trillion room nights booked in 2017, according to company data. Direct suppliers, such as hotels, are recognizing the need to rack up their loyalty programs and highlight experiences in order to respond to the OTA threat. A group of market players that challenge both OTAs and hotels in the online category is peer-to-peer accommodation sharing platforms such as that of Airbnb which appeal to younger travelers especially. In the USA, the number of Airbnb users is projected to expand by more than 10 million between 2017 and 2022, and in the UK close to one in three individuals made reservations from specialized peer-to-peer platforms and apps. Recently, the prominent market trend which is on the rise of the mobile channel. The trend is especially pronounced in Latin America, where a double-digit share of mobile Internet users in Mexico and Argentina booked travel lodging on a mobile device according to the consumer surveys.
Online Accommodation Booking Market Trends
This section covers the major market trends shaping the Online Accommodation Booking Market according to our research experts:
Increasing Internet Penetration has Huge Impact on the Market
Ecommerce is growing at an unprecedented rate in the entire world. People from every age right from children to the old get excited to shop online from numerous e-stores. Online shopping provides much more joy as compared to physical shopping stores. The reason being simple as there are a lot of websites and apps focusing on e-commerce. Thus, it has gotten easy to find anything one-store that one decides to buy immediately. Future suggests that it is expected to see unprecedented growth of the e-commerce that will further increase like never before with all the present technologies. The rate of online shopping is growing beyond measure and this is driving e-commerce owners crazy to keep their solid place in the online race. Thus, the online accommodation is gaining pace on similar lines across various regions in the world.
Sustainable Booking Practices are on the Rise to Encourage Eco-friendly Tourism
Eco-friendly accommodation bookings are mostly preferred in the global market with about 70% of the global travelers choosing to go the green way. Hotels are increasingly under pressure to react to the environmental changes and are actively informing customers about the factors that were making difference to meet the Climate Change challenges. Sustainable accommodation is the new trend observed across the globe. Many people are choosing to give back to the planet while enriching their travel and holiday stay experiences with sustainable hotels and their environmentally friendly business practices.
Online Accommodation Booking Industry Overview
Global Online Accommodation Market is fairly fragmented with a large number of established local players in each region across the globe. Few of the major players profiled in the global industry include Airbnb, Expedia, Tripadvisor, Trip.com Group Ltd., etc. Presently, TripAdvisor is considered to be one of the most influential travel and accommodation booking portals online. TripAdvisor claims 80% of all travelers will spend around four weeks researching a destination, taking the time to read reviews and hunting for unique travel tips to make their trip even better before booking. Studies suggest that more than 90% of travelers are influenced by traveler's reviews online, which makes TripAdvisor still leading the way in the entire market.
Online Accommodation Booking Market Leaders
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Expedia Group Inc.
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Booking Holdings Inc.
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Airbnb Inc.
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Tripadvisor Inc.
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Traveloka Indonesia PT
*Disclaimer: Major Players sorted in no particular order
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Online Accommodation Booking Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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2.1 Analysis Methodology
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2.2 Research Phases
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS AND INSIGHTS
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4.1 Current Market Scenario
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4.2 Market Dynamics
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4.2.1 Drivers
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4.2.2 Restraints
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4.2.3 Opportunities
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4.3 Industry Attractiveness -Porter's Five Forces Analysis
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4.4 Value Chain / Supply Chain Analysis
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4.5 Industry Policies and Regulations
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4.6 Insights on the various offers given while booking online accommodation
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4.7 Insights on the price distribution of various stakeholders in the online booking systems
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4.8 Technological Advancements in the information systems management
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4.9 Advertising Strategies Implemented by the Market Players
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4.10 Insights on the Innovative Strategies to sell the products
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5. MARKET SEGMENTATION
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5.1 By Platform
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5.1.1 Mobile Application
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5.1.2 Website
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5.2 By Mode of Booking
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5.2.1 Third party online portals
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5.2.2 Direct / captive portals
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5.3 By Geographical Region
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5.3.1 North America
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5.3.1.1 US
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5.3.1.2 Canada
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5.3.1.3 Rest of North America
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5.3.2 Asia Pacific
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5.3.2.1 China
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5.3.2.2 India
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5.3.2.3 South Korea
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5.3.2.4 Japan
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5.3.2.5 Rest of APAC
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5.3.3 Europe
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5.3.3.1 United Kingdom
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5.3.3.2 Italy
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5.3.3.3 Germany
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5.3.3.4 France
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5.3.3.5 Spain
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5.3.3.6 Rest of Europe
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5.3.4 Latin America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of Latin America
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5.3.5 Middle East and Africa
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5.3.5.1 United Arab Emirates
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5.3.5.2 Saudi Arabia
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5.3.5.3 South Africa
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5.3.5.4 Rest of Middle East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Market Concentration Overview
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6.2 Company Profiles
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6.2.1 Expedia Group Inc.
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6.2.2 Booking Holdings Inc.
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6.2.3 Trip.com Group Ltd.
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6.2.4 Airbnb Inc.
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6.2.5 Tripadvisor Inc.
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6.2.6 Oravel Stays Pvt Ltd
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6.2.7 Traveloka Indonesia PT
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6.2.8 HRS GmbH
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6.2.9 Hotelbeds Group SL
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6.2.10 Hostelworld Group
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6.2.11 Agoda
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6.2.12 Intercontinental Hotels Group
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- *List Not Exhaustive
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7. Investment Opportunities in the market
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8. Future of the market
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9. Appendix
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9.1 Growth of the tourists in a particular geography in the past few years
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9.2 Tourism industry growth in various regions of the world
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9.3 Increase in the per capita income of important countries in each geographical region
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10. Disclaimer and About us
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11. INVESTMENT ANALYSIS
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11.1 Recent Mergers and Acquisitions
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12. Future Of Global Online Accomodation Booking Market
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13. DISCLAIMER
Online Accommodation Booking Industry Segmentation
A complete background analysis of the Global Online Accommodation Booking Market, which includes an assessment of the national accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and market overview is covered in the report.
| By Platform | |
| Mobile Application | |
| Website |
| By Mode of Booking | |
| Third party online portals | |
| Direct / captive portals |
| By Geographical Region | ||||||||
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Online Accommodation Booking Market Research FAQs
What is the current Online Accommodation Booking Market size?
The Online Accommodation Booking Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Online Accommodation Booking Market?
Expedia Group Inc., Booking Holdings Inc., Airbnb Inc., Tripadvisor Inc. and Traveloka Indonesia PT are the major companies operating in the Online Accommodation Booking Market.
Which is the fastest growing region in Online Accommodation Booking Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Online Accommodation Booking Market?
In 2024, the North America accounts for the largest market share in Online Accommodation Booking Market.
What years does this Online Accommodation Booking Market cover?
The report covers the Online Accommodation Booking Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Online Accommodation Booking Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key factors driving the growth of the Online Accommodation Booking Market?
The key factors driving the growth of the Online Accommodation Booking Market are a) Increasing use of mobile applications and websites for booking travel b) Growing travel and tourism industry c) Growth of cloud-based booking platforms
Online Accommodation Booking Industry Report
The global online accommodation booking market is experiencing significant growth, driven by increased internet penetration and the rise of mobile and website bookings. This market encompasses both traditional on-premise and innovative cloud-based platforms, which cater to various applications. The market is segmented by platform, including mobile applications and websites, and by mode of booking, such as third-party online portals and direct/captive portals.
Covering key regions like North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, the market's expansion is notable. A shift towards digital channels, sustainable booking practices, and eco-friendly tourism is influencing market trends and consumer behavior. The competitive landscape features major players employing strategies like mergers and acquisitions, focusing on innovation and customer-centric solutions to maintain their edge.
The industry is poised for growth, with an increase in market size and market share expected as it evolves. Comprehensive insights into the global market are available, highlighting industry trends, market segmentation, and growth potential. Market research and market analysis provide valuable information, with industry reports offering detailed industry analysis and market forecast.
The market outlook is positive, with market leaders driving the industry forward. Industry research and market data reveal significant market growth, supported by industry statistics and industry trends. The market review and market predictions indicate a promising future, with a focus on market value and market overview.
For those seeking more information, industry reports and report examples provide detailed insights, while industry research companies offer further industry information. A free PDF sample of the industry analysis is available, providing a comprehensive overview of the market.
