Europe Online Travel Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 89.22 Billion |
| Market Size (2029) | USD 131.94 Billion |
| CAGR (2024 - 2029) | 8.14 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Online Travel Market Analysis
The Europe Online Travel Market size is estimated at USD 89.22 billion in 2024, and is expected to reach USD 131.94 billion by 2029, growing at a CAGR of 8.14% during the forecast period (2024-2029).
Online bookings are advancing faster than the overall market, with most of the growth coming from suppliers' and OTAs' mobile platforms. In Europe, a focus on tourism is seen as one of the key pillars for job growth and inclusive growth. Social media platforms have emerged as a prominent marketing opportunity for online travel companies in recent years. Given the large-scale use of social media by consumers, their preferences and interests are easily tracked, which helps travel companies target those that are likely to opt for travel experiences and who can also afford travel packages. These factors offer online travel companies highly comprehensive insights into customer wants and behaviours.
With the emergence of the COVID-19 pandemic, Europe's online travel industry experienced a sharp fall in demand, especially in 2020. The worldwide spread of the coronavirus resulted in complete lockdown and border closures in a number of countries. Moreover, the shutdown of the airline industry and the increasing fear of catching the coronavirus while traveling pushed people to stay at home. All these factors negatively impacted the growth of the market. However, the market bounced back in 2021 while growing at a significant rate from 2022 onward.
Europe Online Travel Market Trends
Shift towards Mobile Phones for Travel Booking
Over the last few years, it has been observed that an increasing number of consumers are moving away from using desktop computers and instead using their mobile devices to research and book travel. Booking via smartphones is gaining more traction in the market as smartphone penetration rises and customers get more used to paying online. The industry has undergone a number of changes over the past decade due to advances in technology. Online travel agents' service models offer a variety of services through a single platform. The travel booking process has undergone a dramatic shift from physical booking to web booking and is now a mobile platform.
Online Travel Market in Germany Growing Steadily
Germany, with its strong economy and high consumer confidence, is Europe's largest travel market. While the majority of Germans still book travel offline, online and mobile bookings are growing quickly. Germany's online travel market has grown more slowly than some other European countries due to the popularity of offline distribution and the leading role of tour operators. The growth of digital booking, now fueled by mobile, will continue to outpace the overall market. Despite relatively low online travel penetration, German travellers have been quick to adopt mobile technology. High smartphone penetration and the growing availability of 5G devices will drive the adoption of new types of customer interactions throughout the travel journey, including emerging features such as voice-based services and augmented reality.
Europe Online Travel Industry Overview
The report covers major international players operating in the European online travel market. In terms of market share, a few of the major players currently dominate the market. However, with technological advancement and product innovation, midsize to smaller companies are increasing their market presence. It has major players Booking.com, eDreams, Lastminute.com, Expedia and HRS
Europe Online Travel Market Leaders
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Booking.com
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eDreams
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Lastminute.com
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Expedia
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HRS
*Disclaimer: Major Players sorted in no particular order
Europe Online Travel Market News
- 15th November 2022: Booking.com, the leading digital travel platform, announced a series of new features for accommodation, car rental, and flights, to mark the one-year anniversary of its sustainability program launched in 2021.
- July 27, 2022: Booking.com launched the Ultimate Pride Amsterdam Experience to celebrate the 25th edition of the iconic Canal Parade.
- May 2022: lastminute.com, Europe's travel-tech leader, launched its first physical gift card, which will be available at a number of the UK's major retailers, like Morrisons, Tesco, and Amazon.
- 2nd February 2022: eDreams ODIGEO, Europe's largest online travel company, the second largest in terms of flights globally, and one of the largest European e-commerce businesses, announced that they have signed a New Distribution Capability (NDC) agreement with British Airways and Iberia, both part of IAG, one of the world's leading airline groups.
Europe Online Travel Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Insights on impact of technology in the Market
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4.5 Porters Five Forces Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 Service Type
- 5.1.1 Transportation
- 5.1.2 Travel Accommodation
- 5.1.3 Vacation Packages
- 5.1.4 Other Service Types
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5.2 Booking Type
- 5.2.1 Online Travel Agencies
- 5.2.2 Direct Travel Suppliers
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5.3 Platform
- 5.3.1 Desktop
- 5.3.2 Mobile
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5.4 Country
- 5.4.1 United Kingdom
- 5.4.2 Germany
- 5.4.3 France
- 5.4.4 Italy
- 5.4.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Booking.com
- 6.2.2 Expedia
- 6.2.3 HRS
- 6.2.4 Orbitz
- 6.2.5 Agoda
- 6.2.6 DER.com
- 6.2.7 ZenHotels.com
- 6.2.8 eDreams
- 6.2.9 lastminute.com
- 6.2.10 Opodo
- 6.2.11 Unique Villas
- 6.2.12 Hostelworld Group Plc
- 6.2.13 Airbnb
- 6.2.14 TUI AG*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityEurope Online Travel Industry Segmentation
Online travel is the type of travel that is booked online through a website or a mobile application that has a specialty in making the travel arrangements, such as flight tickets, car rentals, and packages. A complete background analysis of the market, including the analysis of market size and forecast, industry trends, growth drivers, and leading players, is provided in the report. Additionally, the report features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key stakeholders in the industry's value chain.
The market is segmented by service type, by booking type, by platform, and by country. By service type, the market is segmented into transportation, travel accommodations, vacation packages, and others. By booking type, the market is segmented into online travel agencies, direct travel suppliers. By platform, the market is segmented into desktop, mobile, and by country, the market is segmented into United Kingdom, Germany, France, Italy, and Rest of Europe. The report offers market size and forecast values for the European Online Travel Market in USD for the above segments.
| Service Type | Transportation |
| Travel Accommodation | |
| Vacation Packages | |
| Other Service Types | |
| Booking Type | Online Travel Agencies |
| Direct Travel Suppliers | |
| Platform | Desktop |
| Mobile | |
| Country | United Kingdom |
| Germany | |
| France | |
| Italy | |
| Rest of Europe |
Europe Online Travel Market Research FAQs
How big is the Europe Online Travel Market?
The Europe Online Travel Market size is expected to reach USD 89.22 billion in 2024 and grow at a CAGR of 8.14% to reach USD 131.94 billion by 2029.
What is the current Europe Online Travel Market size?
In 2024, the Europe Online Travel Market size is expected to reach USD 89.22 billion.
Who are the key players in Europe Online Travel Market?
Booking.com, eDreams, Lastminute.com, Expedia and HRS are the major companies operating in the Europe Online Travel Market.
What years does this Europe Online Travel Market cover, and what was the market size in 2023?
In 2023, the Europe Online Travel Market size was estimated at USD 81.96 billion. The report covers the Europe Online Travel Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Online Travel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key trends shaping the Europe Online Travel Market?
The key trends shaping the Europe Online Travel Market are a) Adoption of digital technologies for streamlining operations b) Rise of sustainable and responsible tourism practices c) Increasing popularity of multi-destination travel itineraries
Europe Online Travel Industry Report
The Europe Online Travel Market is poised for significant growth, driven by a strong digital infrastructure and high internet penetration that facilitates the widespread use of online travel planning and booking services. Europe online travel companies are increasingly focusing on niche segments like solo travel, wellness tourism, and adventure travel, offering specialized experiences and curated content to meet diverse consumer preferences. These platforms emphasize localization by providing multilingual services to cater to various local markets, thereby enhancing accessibility for non-English-speaking users.
A notable trend in the market is the shift towards mobile bookings, reflecting the growing preference for smartphones over desktops for travel arrangements. Social media platforms play a crucial role in marketing, allowing companies to gain deep insights into consumer preferences and behaviors. The market blends traditional charm with modern convenience, offering a range of options from luxury accommodations to immersive local experiences.
The industry size is expected to witness substantial growth, with market leaders playing a pivotal role in shaping market trends. Detailed market analysis and industry reports highlight the market growth and provide a comprehensive market overview. The market forecast indicates a positive outlook, with market segmentation offering insights into various service types, booking types, and platforms. Industry research and market data are essential for understanding the market value and industry statistics.
Industry analysis reveals that the market report provides valuable insights into market share, market research, and market trends. The industry report offers an industry overview and market predictions, helping stakeholders make informed decisions. The market review and industry outlook suggest that the market is set to thrive, driven by innovation and consumer demand for personalized travel experiences.
For detailed industry information and market segmentation, refer to industry reports by Mordor Intelligence™, which include historical overviews and are available as free report PDFs. These reports provide a comprehensive market review and industry sales data, essential for understanding the market dynamics and growth rate. The report example and research companies offer additional insights into the market outlook and industry trends, ensuring stakeholders stay informed about market developments.
