The global mobile travel market is worth US$ 343.3 Million as of now and expected to reach US$ 1,486.7 Million by the year 2033 at a robust CAGR of 15.8% between 2023 and 2033.
The 21st century has witnessed alteration in societal dynamics like never before. With smartphones being an indispensable part of the lives, travel & tourism sector is slated to witness exponentiation going forward.
The present-day smartphones are abreast with various user-friendly, essential applications enabling travel. Paper maps are the thing of past. The travellers are more into using mobile devices equipped with GPS; which help in precise navigation. As such, booking a hotel, trip, or car is comfortable and simple as smartphones let users browse through the information within no time.
The travel agencies are also modifying their marketing communications along with implementation of technological advancements. Almost all the airline businesses and hotels have integrated their services in a smart app for capitalizing on the rapidly expanding travel and tourism sector.
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Lower data charges is one of the factors influencing the mobile travel market. In the last few years, the mobile travel landscape did undergo a major overhaul due to budget-friendly and easy-to-use smartphones.
Mobiles have also helped in apprising people about the tourist destinations unknown till date. Various public and private partners have also come up with tourism promotion activities, which is fostering the mobile travel market. MakeMyTrip has confirmed that a sizable percentage of the flights was booked in the last few years using smartphones.
Those travelling for healthcare and businesses run short of time when it comes to visiting the offices physically to get a booking. As such, the geo-localized mobile applications come to the rescue. They signify tedious and complex processes and render the much-required relief. These apps also help in averting rigid, long registration procedures for reducing efforts and time involved. Another advantage is that of certain apps offering travel insurance along with the tickets. Bulk booking helps in availing discounts as well.
At the same time, the fact that various terrorist attacks have plundered travel and tourism industry at the global scale. The tourists also give a second through regarding these tourist destinations. This factor may restrain the mobile travel market in the years to come. Plus, the likelihood of the apps getting hung on innumerable people trying to access them can’t be ruled out; especially during the festive times. This could go against the mobile travel market as even a bit of delay could cost the user his/her desired ticket.
Future Market Insights has entailed these findings with future prospects in its latest market study entitled ‘Mobile Travel Market’. The team of analysts and consultants is there to execute through its eagle’s eye view across macros and micros.
“Availability of better internet services through smartphones is expected to catalyze the mobile travel market going forward”, says an analyst from Future Market Insights.
Key Takeaways from Mobile Travel Market
North America holds the largest market share, followed by Europe and the Asia-Pacific. This could be credited to smartphones penetrating the regions at an alarming rate.
Competitive Travel
The key players in the mobile travel market include TUI Group, Elong Inc., AirGorilla, LLC, MakeMyTrip Pvt. Ltd., Hays Travel Ltd., Airbnb Inc., Expedia Inc., Trivago, HomeAway, Cleartrip Pvt. Ltd., KAYAK, Skyscanner Ltd., and likewise.
What does the Report travel through?
- The research study is based on age (under 18, 18-25, 26-35, 36-45, 46-55, and over 55), by visit purpose (leisure travel, business travel, education-employment-pilgrimage, and visiting friends & relatives), by demographics (female, male, and kids), by service type (transportation, travel accommodation, and vacation packages), and by tourism type (international and domestic).
- With extensive mobile penetration, the global mobile travel market is expected to grow voraciously in the next few years.
Mobile Travel Market by Category
By Age:
- Under 18
- 18-25
- 26-35
- 36-45
- 46-55
- Over 55
By Visit Purpose:
- Business Travel
- Leisure Travel
- Education-Employment-Pilgrimage
- Visiting Friends & Relatives
By Demographic:
- Male
- Female
- Kids
By Service Type:
- Transportation
- Travel Accommodation
- Vacation Packages
By Tourism Type:
- Domestic
- International
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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