Market Overview:
The global travel services market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for leisure and business travel, rising disposable income, and technological advancements in the travel industry. The global travel services market is segmented on the basis of type into tour packages, flight bookings, hotel booking services, cruise bookings, rail bookings, car rental services, and others. The tour packages segment is expected to hold the largest share in the global market during the forecast period owing to increased demand for packaged holidays by individual travelers as well as corporations. On the basis of application,the global market is divided into individual travelers and corporations. The individual travelers segment dominates this category with a larger share owing to an increase in outbound tourism by middle-class families across regions such as Asia Pacific and Latin America.
Product Definition:
Travel services are a type of service industry that provides travel-related assistance to individuals and organizations. This may include arranging transportation and accommodation, as well as providing information on destinations. The importance of travel services lies in the fact that they make it easier for people to plan and execute their travel arrangements, which can often be complex.
Tour Packages:
A tour packages is a planned combination of travel and accommodation, wherein the tourists opt to stay in specially designed holiday homes or hotels. The package deal includes all the services associated with travel such as transportation, sightseeing, food & beverage etc., thus making it more convenient for customers.
The major factor responsible for growth of this market is increasing number of people traveling abroad on business trips and leisure trips.
Flight Bookings:
Flight bookings is the process of securing a confirmed seat on a specific flight at an announced departure and arrival time. The travel agent or airline company uses various tools and software to handle the transaction of booking flights.
Online Travel Agency (OTA) - An online marketplace that helps consumers compare multiple airlines, find lowest airfares, read reviews & feedback from other users about various airlines,.
Application Insights:
The corporate segment dominated the global travel services market in 2017, accounting for more than 70.0% share of the overall revenue. The growth of this segment can be attributed to increasing demand for travel packages by companies as a means to promote their products and services globally. Furthermore, an increase in the number of e-commerce portals has led to increased competition among corporations traveling abroad on business trips; thus necessitating them to use online travel agencies that offer convenient and cost-effective solutions while booking hotels and flights across various cities around the world.
The individual traveler segment is expected register significant growth over the forecast period owing to rising disposable income levels among consumers globally coupled with high spending capacity due largely in part by way of luxury consumption habits exhibited mostly by high net worth individuals (HNWI).
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to increasing travel and tourism activities, rising disposable income of consumers, improving air connectivity, and rapid development of online travel services. Moreover, growing popularity of packaged tours especially among corporate clients has contributed significantly to regional growth.
North America is projected to witness significant growth over the forecast period owing to increasing focus on eco-friendly tourism practices by government as well as private agencies in order to attract more travelers from across the globe. Furthermore, rise in number of airline companies serving international routes out of U.S., Canada has also boosted regional demand for travel services globally.
Growth Factors:
- Increasing disposable income of people
- Rising demand for leisure travel and tourism
- Proliferation of online booking platforms and technologies
- Growing popularity of experiential travel over traditional sightseeing tours
- Emergence of budget-friendly travel options like backpacker hostels and couchsurfing
Scope Of The Report
Report Attributes
Report Details
Report Title
Travel Services Market Research Report
By Type
Tour Packages, Flight Bookings, Hotel Booking Services, Cruise Bookings, Rail Bookings, Car Rental Services, Others
By Application
Corporations, Individual Travelers
By Companies
Asia World Enterprise, Carlson Wagonlit Travel, Central America Travel Services, Regency Travel & Tours
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
218
Number of Tables & Figures
153
Customization Available
Yes, the report can be customized as per your need.
Global Travel Services Market Report Segments:
The global Travel Services market is segmented on the basis of:
Types
Tour Packages, Flight Bookings, Hotel Booking Services, Cruise Bookings, Rail Bookings, Car Rental Services, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Corporations, Individual Travelers
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Asia World Enterprise
- Carlson Wagonlit Travel
- Central America Travel Services
- Regency Travel & Tours
Highlights of The Travel Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Tour Packages
- Flight Bookings
- Hotel Booking Services
- Cruise Bookings
- Rail Bookings
- Car Rental Services
- Others
- By Application:
- Corporations
- Individual Travelers
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Travel Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Travel services are a type of business that provide travel-related products and services to customers. These products and services can include airfare, hotel reservations, car rentals, tours, and other activities related to traveling.
Some of the key players operating in the travel services market are Asia World Enterprise, Carlson Wagonlit Travel, Central America Travel Services, Regency Travel & Tours.
The travel services market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Travel Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Travel Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Travel Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Travel Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Travel Services Market Size & Forecast, 2018-2028
4.5.1 Travel Services Market Size and Y-o-Y Growth
4.5.2 Travel Services Market Absolute $ Opportunity
Chapter 5 Global Travel Services Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Travel Services Market Size Forecast by Type
5.2.1 Tour Packages
5.2.2 Flight Bookings
5.2.3 Hotel Booking Services
5.2.4 Cruise Bookings
5.2.5 Rail Bookings
5.2.6 Car Rental Services
5.2.7 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Travel Services Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Travel Services Market Size Forecast by Applications
6.2.1 Corporations
6.2.2 Individual Travelers
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Travel Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Travel Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Travel Services Analysis and Forecast
9.1 Introduction
9.2 North America Travel Services Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Travel Services Market Size Forecast by Type
9.6.1 Tour Packages
9.6.2 Flight Bookings
9.6.3 Hotel Booking Services
9.6.4 Cruise Bookings
9.6.5 Rail Bookings
9.6.6 Car Rental Services
9.6.7 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Travel Services Market Size Forecast by Applications
9.10.1 Corporations
9.10.2 Individual Travelers
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Travel Services Analysis and Forecast
10.1 Introduction
10.2 Europe Travel Services Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Travel Services Market Size Forecast by Type
10.6.1 Tour Packages
10.6.2 Flight Bookings
10.6.3 Hotel Booking Services
10.6.4 Cruise Bookings
10.6.5 Rail Bookings
10.6.6 Car Rental Services
10.6.7 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Travel Services Market Size Forecast by Applications
10.10.1 Corporations
10.10.2 Individual Travelers
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Travel Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Travel Services Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Travel Services Market Size Forecast by Type
11.6.1 Tour Packages
11.6.2 Flight Bookings
11.6.3 Hotel Booking Services
11.6.4 Cruise Bookings
11.6.5 Rail Bookings
11.6.6 Car Rental Services
11.6.7 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Travel Services Market Size Forecast by Applications
11.10.1 Corporations
11.10.2 Individual Travelers
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Travel Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Travel Services Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Travel Services Market Size Forecast by Type
12.6.1 Tour Packages
12.6.2 Flight Bookings
12.6.3 Hotel Booking Services
12.6.4 Cruise Bookings
12.6.5 Rail Bookings
12.6.6 Car Rental Services
12.6.7 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Travel Services Market Size Forecast by Applications
12.10.1 Corporations
12.10.2 Individual Travelers
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Travel Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Travel Services Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Travel Services Market Size Forecast by Type
13.6.1 Tour Packages
13.6.2 Flight Bookings
13.6.3 Hotel Booking Services
13.6.4 Cruise Bookings
13.6.5 Rail Bookings
13.6.6 Car Rental Services
13.6.7 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Travel Services Market Size Forecast by Applications
13.10.1 Corporations
13.10.2 Individual Travelers
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Travel Services Market: Competitive Dashboard
14.2 Global Travel Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Asia World Enterprise
14.3.2 Carlson Wagonlit Travel
14.3.3 Central America Travel Services
14.3.4 Regency Travel & Tours
