LONDON, June 2, 2022 (GLOBE NEWSWIRE) — According to a Business Research research report on the online travel agent market, the use of chatbot platforms by online travel agents is trending in the travel industry. Gamers are increasingly using chatbot platforms to improve customer experiences. Chatbots are programs that stimulate human conversations using artificial intelligence (AI). Chatbot platforms help players improve the customer experience by adjusting reservations, answering frequently asked questions, and providing instant responses to travelers. According to SITA, the multinational IT company, 14% of the world’s airlines have already started using chatbots to improve customer experiences. Major companies in the online travel agency industry that use AI-powered chatbots include Booking.com, Skyscanner, and Expedia.
For example, in February 2018, Skyscanner, a Scotland-based travel agency, reported millions of unique chatbot interactions. Also, Expedia, an American online shopping company, has partnered with Amazon Alexa to offer a voice search service. This feature serves Expedia customers by solving their travel related inquiries such as reservation details, flight reservations, and other travel related inquiries.
Request A sample from the world Online travel agent Market Report
The global online travel agent market size is expected to grow from $664.42 billion in 2021 to $761.90 billion in 2022 compound annual growth rate (CAGR) 14.7%. The growth in the market is mainly due to companies resuming their operations and adapting to the new normal while recovering from the impact of COVID-19, which earlier led to restrictive containment measures including social distancing, remote work and business closures which led to operational challenges. The size of the online travel reservations market is expected to reach 1002.45 billion dollars in 2026 in A compound annual growth rate of 7.1%.
Technology is expected to be a continuous driver for the growth of the online travel agent market during the forecast period. This sector will benefit from the greater efficiencies offered by technological advances. Many technologies such as big data, machine learning, and predictive analytics are also used to increase efficiency and align business strategies. Big data uses a combination of real-time information, historical trends, and smart algorithms to translate vehicle speeds, weather conditions, and acceleration and deceleration sources for road operators. The adoption of technology will push the online travel agent market forward.
The major players in the online travel agent market are Booking.com and Expedia Inc. Ctrip, TripAdvisor, Trivago, eDreams, Odigeo, Despegar, MakeMyTrip, Lastminute, On the Beach, Alibaba Group Holding Limited, Hostelworld Group, Hotel Urbano Travel, Tourism SA, Fareportal Inc., Trivago GmbH, ThomasCook Group, Priceline Group Inc. , HRS; Agoda and Airbnb Inc. and Hotel.de.
The Global Online Travel Agency market research report is segmented by service type into Vacation, Transportation and Accommodation packages; Through the platform to the desktop based mobile / tablet devices; By category in hotel reservations, tickets, etc.
Asia Pacific he has the largest area in online travel agency market share in 2021. Western Europe It was The second largest area In the online travel agent market. The regions covered in the Online Travel Agent market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Global Online Travel Agent Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026 is one of a series of new reports from Business Research firm that provide overviews of the Online Travel Agent Market, Online Travel Agent Market Analysis and Forecasting Market Size and Whole market growth, segments and geographies of Online Travel Agents, Online Travel Agents Market Trends, Online Travel Agents Market Drivers, Online Travel Agents Market Restrictions, Online Travel Agents Market Leading Revenues, Profiles, Market Shares Over More 1000 industry reports, covering more than 2500 market segments and 60 geographical regions.
The report also provides an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 data sets, extensive secondary research, and exclusive insights from interviews with industry leaders. A team of highly experienced and expert analysts and designers provides market analysis and forecasts. The reports identify top countries and divisions for opportunities and strategies based on market trends and the approaches of leading competitors.
Not the market you are looking for? paying off some sbookmarks Market intelligence reports:
Global Artificial Intelligence Market Report 2022 – By Display (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Others (Image Processing, Speech Recognition)), by End User Industry (Healthcare, Automotive, Agriculture, Retail, Marketing, Communications, Defense, Aerospace, Media and Entertainment) – Market size, trends and global outlook 2022-2026
Global Big Data and Analytics Services Market Report 2022 – By Deployment Mode (Local, Cloud), By Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, Price Analytics, Spatial Analytics, Workforce Analytics, Risk and Credit Analytics, Transportation Analytics), By vertical (Transport & Logistics, BFSI, Travel & Hospitality, Healthcare & Life Sciences, Manufacturing), By Organization Size (SMEs (SMEs, Large Enterprises) – Market Size, Trends, Global Forecast 2022-2026
Travel Arrangement & Reservation Services Global Market Report 2022 – By Type (Travel Agencies, Tour Operators, Conference & Visitor Desks), By Mode Of Travel (Internal Travel, External Travel), By Booking Method (Online, Online) – Market Size, Trends And Forecast Global 2022-2026
Interested in learning more about a business research firm?
Business Research is a market intelligence company that excels in corporate, market and consumer research. It is located globally and has consultants who specialize in a wide range of industries including manufacturing, healthcare, financial services, chemicals and technology.
The most comprehensive database in the world
Business Research’s flagship product, Global Market Model, is a market information platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The global market model covers multi-layered data sets that help its users to assess supply and demand gaps.