MARKET

Travel industry is recovering rapidly from COVID-19 pandemic and it is expected to fully recover to pre-pandemic level by the end of 2024. Travel platform market is also on the rise. Market capital of online travel platform is expected to grow to $51.25B dollars while the market capital will continue to grow until 2032 with expected size of $126.71B dollars with CAGR of 10.4%.

Proliferation of smart devices, increased access to high-speed internet, increasing number of solo and business travelers are the key factors driving the market growth. Adoption of internet and mobile technology are fueling further growths in the online travel market while user-friendly platform, advanced search tool, tailored recommendation features and many other improvements in market innovation and developments are expediting the market growth.