The global digital travel sector could be worth $1,091 billion by 2022 as per the forecast by a recent Allied Market Research study. The share of India in this growth is going to be a major factor.
As per the report the above mentioned figure will be attained as more markets are adapting web services and penetration levels in existing markets climbing even further.
The figure represents an 11.1% growth rate between 2016 and 2002.
Allied reports that the direct bookings accounted for around 57% of the market in 2015.
But there is chance of drop in these figures as market share shifts further to intermediaries and travel search engines embracing meta-book models.
Even though air travel will gain a considerable share at the transportation end particularly as sub cities connect to destinations further afield, rail will also make a significant share of web activity.
Even though China may enjoy the major share of attention, in terms of the power and ambitions of its online travel brands, it is India where the fastest growth is expected – up 18.5% over the 2014-2022 periods.
According to Allied, the proliferation of mobile devices “largely supplements the growth of this market”.
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Courtesy: tnooz.com
Author: Anush Mathews
Anush works as QA Lead in Teknokraaft and works with our OTA team.