The rising demand for air travel continuously has led several countries to witness an increase in the number of airline booking platforms in recent years. The increasing demand for air travel has also forced the adoption of technologically advanced platforms to book various travel services such as ticket booking, car rentals, hotel reservations, and many more. The abrupt growth of the commercial aviation sector is majorly attributed to the tremendous rise in the number of air travelers, both business and leisure passengers. Also, the airlines are monetizing towards the improvement of their added services. The growth in the number of air travelers is noticed since the last few years; it has significantly impacted the airline booking platform market. The rise in the growth rate of airline passengers is the primary reason for the growth in the airline booking platform market. The diverse economies of developing countries, as well as the rising purchasing power of individuals, are positively impacting market growth. Since the last 15 years, the air passenger count is increased by 5% year-on-year globally. As per the International Air Transport Association (IATA), the number of air passenger is anticipated to get double between the year 2016 and 2035.
The market for airline booking platform globally is segmented on the basis of type into OTA and ticket comparison engine. The Airline booking platform market is further segmented by application into international and domestic airline booking. The global airline booking platform market is classified based on the geography into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
Digital transformation has been one of the major areas of focus for many organizations for years. Apart from bringing marginal efficacy, digital technology is bringing disruption in various sectors. Many industries, including airlines, are leveraging digital technologies to gather new business opportunities. The International Air Transport Association (IATA) encourages aviation stakeholders to bring digital transformation in their businesses, which helps them provide effortless experience to their customers while optimizing safety and efficiency. The aviation and travel industry is a vanguard in terms of digitalization of operations, thereby transforming the travel experience for people. The technology trends are uniting to redefine business models in the aviation and travel ecosystem.
The airline booking platform market has been segmented based on type into OTA and travel comparison engine. Several travel agencies and private agents are adopting advanced and innovative travel technology tools such as mobile apps to attract and serve customers globally. The continuous adoption of advanced mobility solutions and travel technology, agencies focusing on online ticket booking software, to make it easier for the end customers as well as sub-agencies to search and enjoy all the deals/offers online. Increasing air travel globally is one of the primary drivers for the adoption of airline booking platforms.
The airline booking platform market has been segmented on the basis of application into international ticket booking and domestic ticket booking. In the current scenario, the airline booking platform market in the developing countries is flourishing rapidly, owing to the growing purchasing power among the individuals. The domestic ticket booking segment of the airline booking platform market is gaining remarkable prominence due to the fact that the passengers are increasingly inclining towards the spending on their leisure time away from their busy daily schedule.
The regional trends and factors influencing the Airline Booking Platform Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Airline Booking Platform Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 4.15 Billion |
| Market Size by 2027 | US$ 10.3 Billion |
| Global CAGR (2019 - 2027) | 12.04% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Airline Booking Platform Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Airline Booking Platform Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
Players operating in the Airline booking platform market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the airline booking platform market. A few developments by key players of the airline booking platform market are:
Airline booking platform Market – by Type
Airline booking platform Market – by Application
Airline booking platform Market – by Geography
Airline Booking Platform Market – Company Profiles
The List of Companies
Europe is home to one of the largest aviation sectors in the world. Similar to North America, the most preferred mode of transportation in Europe for domestic as well as international conveyance is air travel. The airlines in the European countries, irrespective of full service or low-cost airlines, are facing extreme pressure in terms of passenger volume. This is influencing the companies to procure a high number of aircraft. Moreover, the strong economy of Europe and higher individual disposable incomes lay a robust platform for the business of the aerospace industry. Almost more than half of the metropolitan population in Western Europe opts for air transportation.
Domestic airline booking is growing with an astonishing pace across the globe. Domestic bookings are made to travel within the countries in different cities, which includes business trips, personal trips, tours to explore different cities, and many more. The growing GDP of various developing countries is one of the reasons for the adoption of domestic airline booking through OTAs and ticket comparison engines.
High penetration of the internet and increased preference towards online booking provides an opportunity for market growth. Also, the growing tourism sector coupled with the presence of low-cost carriers is influencing the growth of the market.