North America Online Travel Market Insights Forecasts to 2033

• The North America Online Travel Market Size was valued at USD 229 Billion in 2023.
• The Market Size is Growing at a CAGR of 10.1% from 2023 to 2033
• The North America Online Travel Market Size is Expected to Reach USD 601 Billion by 2033

The North America Online Travel Market Size is Anticipated to Reach USD 601 Billion by 2033, Growing at a CAGR of 10.1% from 2023 to 2033

Market Overview

Online travel is the process of planning, booking, and managing travel-related services via the Internet. Online travel providers aim to make travel planning and booking easier for travelers. The online travel industry is being propelled by quick and easy flight and hotel bookings, increased customer trust in online payment, and the ability to compare numerous available travel options. Market players are heavily promoting travel services via mobile websites and apps, as it is one of the most popular modes of travel booking, particularly among young professionals. People's exposure to social media sites has increased dramatically since the advent of the internet. Before making a purchase, people browse websites to gather detailed information and review the desired product or service. Also, social media platforms such as Facebook, Twitter, and travel blogs have emerged as popular forums for people to discuss their travel plans. Social media serves as a platform for online travel service providers to advertise their services and special offers for online bookings, propelling the North America online travel market growth.

Report Coverage

This research report categorizes for the North America online travel market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America online travel market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America online travel market.

Driving Factors

Recent market drivers and opportunities highlight the growth potential of the North America online travel market. Technological advancements, personalized travel experiences, and the growing trend toward sustainable and experiential tourism are all key factors propelling the industry forward. These drivers open up new opportunities for expansion, ensuring that the market remains responsive to changing consumer demands and preferences, thereby contributing to its long-term growth and competitiveness. Additionally, the market's growth is primarily driven by the widespread adoption of the internet and mobile technology, which allows travelers to find the best deals online and make informed decisions.

Restraining Factors

Fraud and security breaches are major concerns for online travel platforms. Customers' reluctance to share financial and personal information online may impact adoption and trust rates.

Market Segmentation

The North America online travel market share is classified into age groups and modes of booking

• The 22- 31 years segment is expected to hold the largest market share through the forecast period.

The North America online travel market is segmented by age group into 22-31 years, 32-43 years, 44-56 years, and >56 years. Among these, the 22-31 years segment is expected to hold the largest market share through the forecast period. The 22-31 age group is made up of young people who are just starting out in their careers. When compared to older travelers, younger travelers are more likely to spend more money on travel and visit new places.

• The direct travel suppliers segment is expected to dominate the North America online travel market during the forecast period.       

Based on the mode of booking, the North America online travel market is divided into online travel agencies (OTAs), and direct travel suppliers. Among these, the direct travel suppliers segment is expected to dominate the North America online travel market during the forecast period. Direct travel suppliers are the primary revenue contributors in the product market. However, this segment is increasingly threatened by the growing market share of online travel agencies (OTAs).

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America online travel market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Airbnb
• Expedia
• Travelzoo
• TripAdvisor
• Booking Holdings
• eDreams
• American Express Global Business Travel
• Travel Leaders Group
• JTB Americas Group
• Travel and Transport Inc
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In November 2023, Airbnb acquired the startup Gameplanner.AI in a deal worth $200 million. Gameplanner helps to accelerate some of Airbnb's artificial intelligence initiatives.AI.

Market Segment

This study forecasts revenue at North America, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the North America online travel market based on the below-mentioned segments:

North America Online Travel Market, By Age Group

• 22-31 Years
• 32-43 Years
• 44-56 Years
• >56 Years

North America Online Travel Market, By Mode of Booking

• Online Travel Agencies (OTAs)
• Direct Travel Suppliers