Online Travel Booking Market Size, Trends and Insights By Service Type (Vacation Packages, Accommodation Booking, Transportation Booking, Others), By Booking Method (Online Booking, Direct Travel Agency), By Device (Desktop, Mobile), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034
Report Snapshot
Study Period: | 2025-2034 |
Fastest Growing Market: | Asia-Pacific |
Largest Market: | North America |
Major Players
- Booking Holdings Inc.
- Expedia Group
- com Group Limited
- MakeMyTrip Limited
- com International Ltd.
- Others
Reports Description
As per the Online Travel Booking Market analysis conducted by the CMI Team, the global online travel booking market is expected to record a CAGR of 10.5% from 2025 to 2034. In 2025, the market size is projected to reach a valuation of USD 707 Billion. By 2034, the valuation is anticipated to reach USD 1,737 Billion.
Online Travel Booking Industry Overview
The booking of travel by the mode of online platforms is known as “online travel booking.” These services include flights, lodging and hotels, rental cars, tour packages, and many others. A number of variables influence the expansion of the industry, which include growing internet penetration, the use of mobile apps, and the emergence of digital payment methods.
Online travel agencies (OTAs) and direct booking platforms are rising as customers opt for online booking because they offer real-time pricing comparisons and AI-driven personalization. Social media and influencer-driven travel trends have also had a significant impact on the market penetration.
Additionally, developments like virtual reality (VR) tours and AI chatbots have been prompted by the need for flexible travel options, last-minute deals, and seamless user experiences. The growth of the online travel industry globally is also facilitated by rising disposable incomes and growing aspirations for international travel.
Online Travel Booking Market Significant Growth Factors
The online travel booking market trends present significant growth opportunities due to several factors:
- Rising Popularity of International Education: The main factor that influences the online travel booking market is the increasing popularity of international education across the globe. There are a number of students who want to roam around the world and learn a new language who are interested in international education because they want a better education, better job prospects, and an opportunity to learn about different cultures. For instance, according to Homeland Security, there were approximately 1.1 million international students in the United States in 2023–2024 a 7% increase from 2022–2023. Online travel brokers take advantage of this trend by offering customized packages and flexible booking choices to meet the student tarveler demand. Also, foreign colleges have students from all over the world, which increases the need for cross-border travel services and cultural experiences in the online travel booking market.
- Rising Internet and Mobile Penetration: The widespread usage of mobile devices and the internet has been one of the most important things that have influenced the market. More and more people are able to plan and book their trips online since more people have smartphones and access to the internet. To reach more people, many travel companies are spending a lot of money to create an online presence on social networking sites. This is good news for the online travel sector. As of April 2024, 5.44 billion people around the world, or 67.1% of the world’s population, used the internet. 62.6% of the world’s population, or 5.07 billion people, used social media. Also, in the third quarter of 2023, people all around the world spent approximately 60% of their time online on mobile devices. Because the internet is becoming easier to use, travelers can now simply look up destinations, compare prices, and book reservations online. This makes things easier and faster.
Online Travel Booking Market Significant Threats
The online travel booking market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:
- Data Privacy and Cybersecurity Concerns: Data privacy and cybersecurity concerns are one of the main factors that hinder the online travel booking market during the forecast period. A lot of people are hesitant to buy travel-related things online because they are worried about security. Norton research found that 41% of people are hesitant to buy trips online because they are worried about security. Internet travel agencies collect and save Personally Identifiable Information (PII), such as passport numbers, names, addresses, payment information (credit card numbers, digital wallet passwords), and travel arrangements (flights, accommodation, and even culinary or seat preferences). Because of this, hackers often go after travel websites. Many travel websites also rely on payment processors, affiliate networks, and online travel agencies (OTAs), as well as APIs for flights, hotels, and rental cars. Every integration could be weak, which means that data could leak if it isn’t properly protected.
- Global Health Emergencies: The emergence of global health emergencies, similar to the COVID-19 pandemic, remains a significant threat. Such events lead to widespread travel restrictions, cancellations, and a decline in consumer confidence. The uncertainty and fear associated with health crises directly impact the online travel booking market, leading to decreased demand and revenue loss.
- Increasing Competition: Intense competition among online travel platforms can lead to price wars, reducing profit margins and affecting the sustainability of businesses. Aggressive pricing strategies and heavy reliance on discounts to attract customers may impact the long-term profitability of market players.
Online Travel Booking Market Opportunities
- Availability of wide range option: Customers can choose from a wide variety of travel options, including flights, hotels, rental cars, and holiday packages, due to online travel booking websites. Customers may read reviews, compare costs, and make well-informed judgments while making vacation plans thanks to this array of possibilities. Customers can easily plan their journeys based on their interests and preferences by customizing their travel itineraries with online travel booking services. This is expected to offer a lucrative opportunity to the online travel booking market expansion.
- Technological Advancements such as Integration of AI: Online travel businesses employ AI to make their customers happier and their operations run more smoothly. One use of AI is chatbots and virtual assistants, which give personalized advice and help people plan their vacations. AI-powered chatbots can handle a wide range of customer questions, from booking hotels and flights to answering frequently asked questions. This not only saves online trip booking businesses time and money, but it also makes the customer experience better by offering quick, accurate replies to questions.
Online Travel Booking Market Category Wise Insights
By Service Type
- Vacation Packages: In the online travel booking market, the vacation packages segment holds a prominent market share over the projected period. Travelers may now create packages in real time using AI-driven recommendations and their preferences thanks to online platforms that offer dynamic packaging. Packages can be customized by travelers to accommodate specialized interests such as wellness, ecotourism, or different cultures. Additionally, businesses that aggressively advertise discounts on holiday packages include Expedia, Booking.com, Trip.com, and MakeMyTrip. Conversions are increased by loyalty programs, email retargeting, and app-only offers.
- Accommodation Booking: The accommodation segment is expected to grow at the fastest rate over the forecast period. Globally, more and more people are making hotel reservations online, which is speeding up market expansion. Furthermore, the market is being driven by the rise in pair vacations over the past century, which has been facilitated by the creation of package vacations geared toward couples and the increased accessibility of international travel. Additionally, it is projected that rising mobile phone penetration, rising internet adoption, and rising travel inclinations will drive the rise. Furthermore, travel to previously unexplored locations has been encouraged and pushed by social media and social networks, which is expected to accelerate industry growth.
- Transportation Booking: This segment is expected to dominate the market during the projected period. The market is expanding due to an increase in online reservations for buses, trains, and airplanes worldwide. Furthermore, the market is primarily driven by global factors such as rising consumer spending, urbanization, broadband accessibility rates in emerging economies, and the desire for travel among the world’s growing affluent class. In addition, the growing popularity of travel for both business and leisure reasons in Asian nations like China and India has increased demand for online travel booking in this area, which will support the industry’s expansion throughout the projection period.
- Others: The “Others” consumer segment, within the Online Travel Booking industry, includes services outside core categories like flights, hotels, and vacation packages. Including car rentals, airport transfers, and cruise bookings. This segment has grown in significance due to changing consumer preferences and diversified travel needs.
By Booking Method
- Online Booking: The category is driven by the increasing number of consumers using online travel agents to book hotels, travel packages, and other services because of the convenience and customized experience. Furthermore, major market participant initiatives like social media advertising and online campaigns are projected to draw in potential clients and encourage them to make their reservations online, which is expected to promote industry expansion. Additionally, the market has been driven by globalization, increased disposable income, and the growing middle class in developing economies in recent years.
- Direct Travel Agency: This segment’s growth is ascribed to the massive trips and travel packages that travel agencies provide while taking into account the comfort and budget of passengers worldwide. People are also urged to buy their holiday packages through online travel agencies since they provide a quick and easy way to book hotels and flights, as well as the opportunity to evaluate other available travel options. Growing consumer trust in online payments is anticipated to fuel business expansion.
By Device
- Desktop: The industry’s growth is being accelerated by the growing use of desktop or web browsing to obtain comprehensive information about travel and hotel reservations. Additionally, using desktop computers makes customers feel more comfortable purchasing larger items like vacation packages and airline tickets. Additionally, these devices have a greater conversion rate than mobile devices—that is, 85% of desktop customers cancel their travel purchase—which could hasten market expansion.
- Mobile: The growing global use and penetration of mobile devices and the internet is responsible for this segment expansion. Furthermore, the industry is expanding due to the busy schedules of young and working consumers as well as the existence of reliable online booking services. Marketplace platforms’ rapid and simple travel and hotel bookings, as well as mobile applications’ wide range of services, are responsible for the segment’s expansion. Additionally, during the projected period, travel booking companies are driving the category growth by releasing rapid, user-friendly, and mobile-friendly applications for smartphones.
Report Scope
Feature of the Report | Details |
Market Size in 2025 | USD 707 Billion |
Projected Market Size in 2034 | USD 1,737 Billion |
Market Size in 2024 | USD 640 Billion |
CAGR Growth Rate | 10.5% CAGR |
Base Year | 2024 |
Forecast Period | 2025-2034 |
Key Segment | By Service Type, Booking Method, Device and Region |
Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Online Travel Booking Market Regional Analysis
The online travel booking market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: This region captures a significant market share over the forecast period. With a sizable population of tech-savvy consumers, North America has a highly developed and technologically sophisticated economy. Due to the region’s high smartphone prevalence and extensive internet connectivity, online travel booking is made possible. Furthermore, North America’s market domination is a result of consumers’ familiarity with and usage of internet platforms for a variety of transactions, including reservations for travel. Furthermore, the industry’s expansion is aided by the existence of significant market players in the area. Additionally, in order to make online booking platforms more individualized and user-friendly, these market leaders are investing more and more in them.
- Europe: European online travel booking is rising due to growing incomes throughout the continent, better business conditions in European nations, and government programs encouraging travel and tourism. Furthermore, because Europeans enjoy the feeling of discovering new places, there is a huge demand for travel tourism. Additionally, it is anticipated that the rise in independent/solo traveler numbers and the expansion of online travel agencies in this area will support the expansion throughout the evaluation period.
- Asia-Pacific: In Asia-Pacific, Online Travel Booking has a fast-growing market associated with increased urbanization, increased purchasing power, and a surge in recreational activities. Also, there is strong penetration of smartphones and increasing investment in 5G internet infrastructure. For instance, as per secondary analysis, in India there are around 650 million users of smartphones. Furthermore, the rising income level of the population drives the industry expansion.
- LAMEA: LAMEA’s online travel booking marketplace is emerging gradually as online travel booking is embraced as a convenient option in Latin America, the Middle East, and Africa. Although the technology is still quite young, growing disposable income and urbanization generate demand and penetration. Furthermore, the increasing investment in advanced technology flourishes the industry expansion.
Online Travel Booking Market Key Developments
In recent years, the online travel booking market has experienced a number of crucial changes as the players in the market strive to grow their geographical footprint and improve their services and profits by using synergies.
- In February 2024, leading online travel agency Expedia Group announced the release of “Ask the Expert,” a new AI-powered personal travel assistant that will provide personalized trip suggestions based on customer preferences and previous reservations. This invention represents a major step forward for consumer experience and personalization in the online travel booking business.
These important changes facilitated the companies’ ability to widen their portfolios, to bolster their competitiveness, and to exploit the possibilities for growth available in the online travel booking market. This phenomenon is likely to persist since most companies are struggling to outperform their rivals in the market.
Online Travel Booking Market Competitive Landscape
The online travel booking market is highly competitive, with a large number of service providers globally. Some of the key players in the market include:
- Airbnb
- Expedia
- Booking Holding
- Trip Advisor Inc.
- com Group Ltd.
- MakeMyTrip Limited
- Hostelworld Group PLC (HSW)
- Trivago N.V
- Despegar com Corp.
- Lastminute com Group
- Others
These companies implement a series of techniques in order to penetrate into the market, such as innovations, mergers and acquisitions, and collaboration.
To attract consumers across the globe, established and emerging businesses are broadening their service portfolios by making innovative packages. Furthermore, to raise their market shares and stay relevant in the online travel booking sector, major market players rely on strategies including the introduction of new services and company expansion.
Additionally, the availability of multiple sorts is the primary reason why online travel booking services are becoming more and more popular worldwide. Also, companies are leveraging AI and machine learning to offer personalized recommendations, optimize pricing, and enhance customer service. Moreover, with over 65% of travel bookings made via mobile devices in 2023, platforms are focusing on mobile-first strategies.
The Online Travel Booking Market is segmented as follows:
By Service Type
- Vacation Packages
- Accommodation Booking
- Transportation Booking
- Others
By Booking Method
- Online Booking
- Direct Travel Agency
By Device
- Desktop
- Mobile
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Online Travel Booking Market, (2025 – 2034) (USD Billion)
- 2.2 Global Online Travel Booking Market: snapshot
- Chapter 3. Global Online Travel Booking Market – Industry Analysis
- 3.1 Online Travel Booking Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increasing penetration of smartphones
- 3.2.2 The travel and tourism sector is growing.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Service Type
- 3.7.2 Market attractiveness analysis By Booking Method
- 3.7.3 Market attractiveness analysis By Device
- Chapter 4. Global Online Travel Booking Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Online Travel Booking Market: company market share, 2024
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Online Travel Booking Market – Service Type Analysis
- 5.1 Global Online Travel Booking Market overview: By Service Type
- 5.1.1 Global Online Travel Booking Market share, By Service Type, 2024 and 2034
- 5.2 Vacation Packages
- 5.2.1 Global Online Travel Booking Market by Vacation Packages, 2025 – 2034 (USD Billion)
- 5.3 Accommodation Booking
- 5.3.1 Global Online Travel Booking Market by Accommodation Booking, 2025 – 2034 (USD Billion)
- 5.4 Transportation Booking
- 5.4.1 Global Online Travel Booking Market by Transportation Booking, 2025 – 2034 (USD Billion)
- 5.5 Others
- 5.5.1 Global Online Travel Booking Market by Others, 2025 – 2034 (USD Billion)
- 5.1 Global Online Travel Booking Market overview: By Service Type
- Chapter 6. Global Online Travel Booking Market – Booking Method Analysis
- 6.1 Global Online Travel Booking Market overview: By Booking Method
- 6.1.1 Global Online Travel Booking Market share, By Booking Method, 2024 and 2034
- 6.2 Online Booking
- 6.2.1 Global Online Travel Booking Market by Online Booking, 2025 – 2034 (USD Billion)
- 6.3 Direct Travel Agency
- 6.3.1 Global Online Travel Booking Market by Direct Travel Agency, 2025 – 2034 (USD Billion)
- 6.1 Global Online Travel Booking Market overview: By Booking Method
- Chapter 7. Global Online Travel Booking Market – Device Analysis
- 7.1 Global Online Travel Booking Market overview: By Device
- 7.1.1 Global Online Travel Booking Market share, By Device, 2024 and 2034
- 7.2 Desktop
- 7.2.1 Global Online Travel Booking Market by Desktop, 2025 – 2034 (USD Billion)
- 7.3 Mobile
- 7.3.1 Global Online Travel Booking Market by Mobile, 2025 – 2034 (USD Billion)
- 7.1 Global Online Travel Booking Market overview: By Device
- Chapter 8. Online Travel Booking Market – Regional Analysis
- 8.1 Global Online Travel Booking Market Regional Overview
- 8.2 Global Online Travel Booking Market Share, by Region, 2024 & 2034 (USD Billion)
- 8.3. North America
- 8.3.1 North America Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.3.1.1 North America Online Travel Booking Market, by Country, 2025 – 2034 (USD Billion)
- 8.3.1 North America Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.4 North America Online Travel Booking Market, by Service Type, 2025 – 2034
- 8.4.1 North America Online Travel Booking Market, by Service Type, 2025 – 2034 (USD Billion)
- 8.5 North America Online Travel Booking Market, by Booking Method, 2025 – 2034
- 8.5.1 North America Online Travel Booking Market, by Booking Method, 2025 – 2034 (USD Billion)
- 8.6 North America Online Travel Booking Market, by Device, 2025 – 2034
- 8.6.1 North America Online Travel Booking Market, by Device, 2025 – 2034 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.7.1.1 Europe Online Travel Booking Market, by Country, 2025 – 2034 (USD Billion)
- 8.7.1 Europe Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.8 Europe Online Travel Booking Market, by Service Type, 2025 – 2034
- 8.8.1 Europe Online Travel Booking Market, by Service Type, 2025 – 2034 (USD Billion)
- 8.9 Europe Online Travel Booking Market, by Booking Method, 2025 – 2034
- 8.9.1 Europe Online Travel Booking Market, by Booking Method, 2025 – 2034 (USD Billion)
- 8.10 Europe Online Travel Booking Market, by Device, 2025 – 2034
- 8.10.1 Europe Online Travel Booking Market, by Device, 2025 – 2034 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.11.1.1 Asia Pacific Online Travel Booking Market, by Country, 2025 – 2034 (USD Billion)
- 8.11.1 Asia Pacific Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.12 Asia Pacific Online Travel Booking Market, by Service Type, 2025 – 2034
- 8.12.1 Asia Pacific Online Travel Booking Market, by Service Type, 2025 – 2034 (USD Billion)
- 8.13 Asia Pacific Online Travel Booking Market, by Booking Method, 2025 – 2034
- 8.13.1 Asia Pacific Online Travel Booking Market, by Booking Method, 2025 – 2034 (USD Billion)
- 8.14 Asia Pacific Online Travel Booking Market, by Device, 2025 – 2034
- 8.14.1 Asia Pacific Online Travel Booking Market, by Device, 2025 – 2034 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.15.1.1 Latin America Online Travel Booking Market, by Country, 2025 – 2034 (USD Billion)
- 8.15.1 Latin America Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.16 Latin America Online Travel Booking Market, by Service Type, 2025 – 2034
- 8.16.1 Latin America Online Travel Booking Market, by Service Type, 2025 – 2034 (USD Billion)
- 8.17 Latin America Online Travel Booking Market, by Booking Method, 2025 – 2034
- 8.17.1 Latin America Online Travel Booking Market, by Booking Method, 2025 – 2034 (USD Billion)
- 8.18 Latin America Online Travel Booking Market, by Device, 2025 – 2034
- 8.18.1 Latin America Online Travel Booking Market, by Device, 2025 – 2034 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Online Travel Booking Market, by Country, 2025 – 2034 (USD Billion)
- 8.19.1 The Middle-East and Africa Online Travel Booking Market, 2025 – 2034 (USD Billion)
- 8.20 The Middle-East and Africa Online Travel Booking Market, by Service Type, 2025 – 2034
- 8.20.1 The Middle-East and Africa Online Travel Booking Market, by Service Type, 2025 – 2034 (USD Billion)
- 8.21 The Middle-East and Africa Online Travel Booking Market, by Booking Method, 2025 – 2034
- 8.21.1 The Middle-East and Africa Online Travel Booking Market, by Booking Method, 2025 – 2034 (USD Billion)
- 8.22 The Middle-East and Africa Online Travel Booking Market, by Device, 2025 – 2034
- 8.22.1 The Middle-East and Africa Online Travel Booking Market, by Device, 2025 – 2034 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Airbnb
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Expedia
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Booking Holding
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Trip Advisor Inc.
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Trip.com Group Ltd.
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 MakeMyTrip Limited
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Hostelworld Group PLC (HSW)
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Trivago N.V
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Despegar com Corp.
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Lastminute com Group
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Others.
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.1 Airbnb
List Of Figures
Figures No 1 to 24
List Of Tables
Tables No 1 to 77
Prominent Player
- Airbnb
- Expedia
- Booking Holding
- Trip Advisor Inc.
- Trip.com Group Ltd.
- MakeMyTrip Limited
- Hostelworld Group PLC (HSW)
- Trivago N.V
- Despegar com Corp.
- Lastminute com Group
- Others
FAQs
The market is expected to record a CAGR of 10.5% during the forecast period, growing from USD 640 billion in 2024.
We anticipate the market to reach US$ 1737 billion by 2034, growing at a CAGR of 10.5% from 2025 to 2034.
North America is expected to dominate the market during the forecast period.
The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
The major players are Airbnb, Expedia, Booking Holding, TripAdvisor Inc., Trip.com Group Ltd., MakeMyTrip Limited, Hostelworld Group PLC (HSW), Lastminute.com Group, Trivago N.V and Despegar.com, Corp.
The drivers for market growth are increasing smartphone penetration and a growing travel and tourism sector.
Dependency on the internet and privacy and cybersecurity concerns pose a major challenge to the growth of the online travel booking market.