According to a new market research report published by Credence Research “Global Mobile Travel Booking Market (Service Type (Accommodation Booking, Transportation Booking, Others)) Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the mobile travel booking market was valued at US$ 858.0 Mn in 2018 and is set to grow with a CAGR of 12.2% during the forecast period.
The global mobile travel booking market is driven by increasing adoption of the mobile apps for wide range of applications among the consumers. Since the rise of the smartphones, mobile apps market has evolved significantly. The convenience and the features offered by the mobile apps are the primary factor augmenting its demand in the market. The mobile apps has emerged as a vital tools for accessing wide array of application, such as payments, gaming, education, and travelling, as it provides direct access to the services with single click. Technological advancement, changing customer demands along with the increasing penetration of internet services are the major forces supporting the adoption of the mobile apps among consumers. Furthermore, the organizations are also leveraging on the mobile apps to expand their customer base and increase their footprint. This rise of the mobile apps is presenting myriad opportunities for the growth of the mobile travel booking market.
Transportation booking will become the most lucrative application of the mobile travel booking market during the forecast period. The increasing adoption of the mobile apps for booking the flight, bus and train tickets are the primary factor driving the market growth. The mobile apps provide the consumer the convenience and flexibility to book the tickets anytime anywhere. Moreover, the market players also offer attractive discounts and cash back offers to customers to gain the customer loyalty. Additionally, the increasing collaboration activities between the transportation service providers and the mobile ticketing apps platform developers is also driving the market.
Asia Pacific is expected to grow at the highest CAGR during the forecast period. The large number of the smartphone users and internet users in the region is driving the market growth. Asia Pacific is the home of more than 50% of the smartphone users across the globe, and the number is further estimated to grow significantly in the future. The availability of the low cost smartphone along with rising disposable income of the population in the region is backing the increasing adoption of the smartphone in the region. Moreover, the supportive government initiatives for the promotion of the delivery of the government services via internet is accelerating the market growth.
The key players in the Mobile Travel Bookings market space are Hostelworld Group, MakeMyTrip Limited, Expedia Inc., Ctrip.Com International, Priceline Group Inc., Hotel Urbano Travel, CheapOair.Com, Trivago GmbH, Thomas Cook Group Plc., Trip Advisor LLC, and Tourism SA.
Browse the full report at https://www.credenceresearch.com/report/mobile-travel-booking-market
The Global Mobile Travel Booking Market is Segmented into:
|Segmentation||By Service Type Segment (2017–2027; US$ Mn)|
|By Geography Segment (2017–2027; US|