Online Marketing Place for Hospitality Services Market to Grow Exponentially over 2025
Online marketing place for hospitality service is a platform that offers web services to the hospitality industry in order to provide services to customers at a global level. The increasing adoption of digitalization in the hospitality industry has provided the facility of hotel visibility along with their services at a global level. The key factors driving growth of the global online marketing place for hospitality service market are the increasing demand for fast and convenient hotel and flight bookings, adoptability of online payment system, and availability of various alternative options for traveling and hotel bookings. In today’s worlds, the increasing popularity of various applications and mobile-friendly websites for travel and hotel bookings, particularly among young professionals, has increased the market of online marketing place for hospitality services. The market players in this market are majorly providing their services through mobile apps or websites. Moreover, the increasing footprint of tourists in various countries has increased the demand for online marketing place for hospitality services. According to Coherent Market Insights, around 77.5 million tourists visited the United States in 2015, from around 75 million in 2014.
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The desktop platform holds a dominant position in the global online marketing place for hospitality services market, whereas, the mobile platform is expected to grow with the largest CAGR over the forecast period, owing to increasing popularity of mobile apps and mobile-based websites. In addition to this, the increasing number of smart phone users is a major factor providing swift growth to the mobile platform of this market. According to Coherent Market Insights, approx. 1.86 billion smart phone users were globally present in 2015, which rose up to 2.1 billion in 2016, and is estimated to hit 2.87 billion in 2020.
Online Marketing Place for Hospitality Services Market Outlook – North America holds the largest market of the global online marketing place for hospitality services.
On the basis of geography, global online marketing place for hospitality services market is classified into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds a dominant position in the global online marketing place for hospitality services market in 2016 and is estimated to retain its dominance throughout the forecast period. Due to high dominance of advanced technologies in the North American countries, the market of online marketing place for hospitality services has gained traction. In addition to this, the Asia Pacific online marketing place for hospitality services market is estimated to grow with the largest share during the forecasted period. India and China are the major countries driving the online marketing place for hospitality services market in Asia Pacific. The increasing internet penetration in the Asia Pacific region, plays a major role for growth of the online marketing place for hospitality services market. According to Coherent Market Insights, approx. 706 million internet users were present in China, which rose up to 721 million in 2016. . Similarly in India, the number of internet users rose up from354 in 2015 to 462 million in2016. In addition to this, the rising disposable income and increasing number of middle class families in Asia Pacific countries have accelerated growth of the online marketing place for hospitality services market.
Key Companies of the Global Online Marketing Place for Hospitality Services Market
Hotwire, Hotels, Orbitz, Expedia, Travelocity, MoreHotels4Less, Agoda, Priceline, Booking, and OneTravel are some of the key companies of the global online marketing place for hospitality services market.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies and potential absolute dollar opportunity.
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