The Itinerary Aggregators market is estimated at USD 21 billion in 2022 and is projected to reach USD 37 billion by 2032, at a CAGR of 6.6% from 2022 to 2032. Itinerary Aggregators market in its parent market (tourism market) is approximately ~ 10%-15%.
The itinerary aggregators are getting leverage in tourism industry. With increase in technological developments itinerary aggregators are offering customized tours. As a result, itinerary aggregators are providing transparency in terms of all the necessary information such as trip plan, price comparison, service options and alternatives, etc.
The aggregators promote their services by offering various deals to the tourist as they travel for various reasons for work if a corporate traveler, for fun and leisure at exotic locations or to better understand and discovery of new culture and religion. It helps to save time and the deals offered by the aggregators help to save money.
Furthermore, the popular events are expected to elevate the itinerary aggregator market. For example, EXPO 2020 was a World Expo that took place in Dubai, United Arab Emirates, from October 1, 2021 to March 31, 2022.
The event was based to promote Opportunity, Mobility and Sustainability. Despite of covid-19 effect more than 24 million traveler visited to the Expo within a span of 6 months. This benefited travel itinerary aggregators as there were an increase in demand for flight bookings and hotel booking by the travelers visiting the event in Dubai.
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The upcoming sport events such as Summer Paralympic games 2024, Olympic games 2024, FIFA World Cup 2022 & 2026, FIFA Women’s World Cup 2023, ICC World Cup 2023, other events like EXPO, carnivals, festivals, campaigns from various countries are expected to rise the demands for itinerary aggregators.
As such, the itinerary aggregators market is estimated to expand at a CAGR of over 6.6% throughout the forecast period of 2022-2032, to be valued at US$ 37 billion by the end of 2032.
Key Takeaways from the Itinerary Aggregators Market Study
- Itinerary aggregators are accounted for the majority of the market in tourism industry. In post pandemic situation travellers want to explore and discover new places, want to travel various parts of the world. Therefore, there may be a rise in demand for these itinerary aggregator apps in the market.
- There is an expected growth of 20.0% CAGR in itinerary aggregators market in APAC region from 2022 to 2023. The vast development in Asia Pacific countries like India, Malaysia, Singapore, South Korea, and China will attract tourism and will generate demand for the domestic as well as for international itinerary aggregators.
- In terms of aggregators type the multimodal aggregators will continue to gain demand from all the age groups through 2032 as travellers find multimodal easy and convenient.
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Impact of COVID-19 on the Market
The COVID-19 pandemic had a detrimental effect on the tourism industry in fiscal year 2020. International tourist arrivals (overnight tourists), declined by 70% in year 2020 compared to the year 2019 according to the United Nations World Tourism Organization (UNWTO).
The Asia-Pacific area, which was the first to be affected by the disease, witnessed an arrival reduction of 84% in year 2020. Regional tourism is growing in certain major economies, like China and Russia, even while demand for international travel is still on the wane. Although often only to a limited extent, domestic tourism is aiding in the revival of a number of regions. Hence the itinerary aggregator market was affected by 78% due to the impact of covid-19 pandemic.
Who is winning?
Leading companies of Itinerary Aggregators market are focused on aggressive promotional strategies, advertisements, and new product launches that have driven sales growth of itinerary aggregators market globally.
Major players present in the itinerary aggregators market are Booking Holdings Inc., Tongcheng Travel Holdings ltd, TripAdvisor Inc., Make My Trip Ltd., Expedia Group Inc., TUI AG, RedBus, Skyscanner, Airbnb, Hilton Worldwide Holdings Inc. are some of the top itinerary aggregators among others.
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Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the itinerary aggregator market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the itinerary aggregators market based on aggregators Type (Flight Aggregators, Cruise Aggregators, Train Aggregators, Intermodal / Multimodal Aggregators and others (Car rentals Aggregators, Bus Aggregators,)), Tourist Type (Domestic & International) Tour Type (Independent Traveller, Tour Group, Package Traveller) Consumer Orientation (Men, Women & Children) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 66-75 Years) across seven major regions.
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