Market Size of United Kingdom Online Travel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Online Travel Market Analysis
The United Kingdom has one of the largest travel markets in Europe. U.K. consumers have embraced online channels for travel planning and booking the country is heavily dependent on global travel suppliers and intermediaries and is critically important as an outbound market for Europe and the rest of the world. UK's online travel market is the largest in Europe, and the country's online travel penetration is among the highest in the world. The online travel industry in the United Kingdom has undergone several changes over the last decade, owing to technological advances. The influx of big data and other complementing technologies such as automation and augmented and virtual reality is expected to create opportunities for travel agencies. By incorporating these technologies into their existing platforms and applications they can deliver a better user experience.
Social media platforms have emerged as major influencers and effective marketing platforms for online tour agencies. Travelers use social media platforms to share their travel experiences and post their reviews, helping other customers to choose travel agencies according to their requirements. This trend is expected to increase with the introduction of more social media platforms. The travel sector in United Kingdom has been among the hardest hit industries by COVID-19. Many companies are already shifting focus to 2021 and 2022. The market outlook varies significantly for travel companies depending on their exposure to different holiday types, destinations served and customer demographics. 50% of United Kingdom travelers intend to book via an online travel agency (OTA) after Covid-19. Online Travel Agencies are a critical channel for attracting domestic travelers as the United Kingdom market rebuilds its tourism industry.
UK Online Travel Industry Segmentation
A complete background analysis of the market, including the analysis of market size and forecast, market shares, industry trends, growth drivers, and vendors, is provided. Additionally, the report features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key points in the industry's value chain. The Market is Segmented by service type, booking type, and country. By Service Type, the market is segmented into Transportation, Travel Accommodation, Vacation Packages, and Others. By Booking Type, the market is segmented into Online Travel Agencies and Direct Travel Suppliers. By Platform, the market is segmented into Desktop and Mobile. The report offers Market size and forecasts for United Kingdom Online Travel Market in value (USD Million) for all the above segments.
| Service Type | |
| Transportation | |
| Travel Accommodation | |
| Vacation Packages | |
| Others |
| Booking Type | |
| Online Travel Agencies | |
| Direct Travel Suppliers |
| Platform | |
| Desktop | |
| Mobile |
United Kingdom Online Travel Market Size Summary
The United Kingdom online travel market stands as the largest in Europe, with a significant penetration rate globally. This market has evolved over the past decade, driven by technological advancements such as big data, automation, and augmented and virtual reality, which have opened new avenues for travel agencies to enhance user experiences. Social media has become a pivotal marketing tool, influencing traveler choices and agency selection through shared experiences and reviews. The COVID-19 pandemic severely impacted the travel sector, prompting a shift in focus towards recovery and adaptation. Online Travel Agencies (OTAs) are crucial in attracting domestic travelers as the industry rebuilds, with a notable percentage of UK travelers preferring to book through these platforms post-pandemic.
Tourism in the UK is a vital economic, social, and cultural asset, contributing significantly to employment and growth. The sector's success is intertwined with various industries, including arts, culture, and transportation. The influence of Generation Y and Z is driving demand for personalized, technology-driven travel experiences, facilitated by the rise of mobile devices. These devices enable travelers to research, plan, and book trips independently, with mobile travel apps gaining popularity for their flexibility and connectivity. The market is dominated by major international players, but technological advancements are allowing mid-size and smaller companies to expand their presence. Notable developments include the relaunch of Thomas Cook as an online travel agent and a strategic collaboration between Travomint and Skyscanner, highlighting the ongoing evolution and resilience of the UK online travel market.
United Kingdom Online Travel Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Value Chain Analysis
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1.5 Porters Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 Service Type
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2.1.1 Transportation
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2.1.2 Travel Accommodation
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2.1.3 Vacation Packages
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2.1.4 Others
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2.2 Booking Type
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2.2.1 Online Travel Agencies
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2.2.2 Direct Travel Suppliers
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2.3 Platform
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2.3.1 Desktop
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2.3.2 Mobile
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United Kingdom Online Travel Market Size FAQs
What is the current United Kingdom Online Travel Market size?
The United Kingdom Online Travel Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in United Kingdom Online Travel Market?
Tripadvisor, Booking, Skyscanner, Expedia Group and lastminute.com are the major companies operating in the United Kingdom Online Travel Market.
