Global Travel Intermediaries Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Platforms like Expedia, Booking.com, and TripAdvisor have gained popularity due to their convenience, extensive offerings, and competitive pricing

• Travel Intermediaries are distribution agents who sell and/or broker travel and tourism-related products and services. They function as intermediaries between suppliers and consumers, purchasing and reselling tourism-related products and services such as package holidays, tickets, tours, housing, vehicle rental, and so on. A B2B tour operator, for example, can offer one-day trips to a travel agent, who then sells them to consumers.
• Nowadays, customers are increasingly seeking customized travel experiences that cater to their requirements. Travel intermediaries assist consumers in planning and booking these experiences, which is fueling industry growth. In addition to that, the rising millennial population is also contributing to the growth of the market as millennials are the largest generation, and they are more inclined than prior generations to travel. Millennials are also more inclined to book their vacation plans using online travel agencies.
• Moreover, modern travelers are moving away from conventional sightseeing tours and are now seeking one-of-a-kind experiential travel opportunities. This shift opens up a lucrative market for travel intermediaries to design and deliver tailored travel experiences that cater to specific interests like adventure travel, eco-tourism, culinary tours, cultural immersion, and wellness retreats. By collaborating with local experts and vendors, intermediaries have the chance to provide their customers with authentic and unforgettable experiences, resulting in increased customer satisfaction and loyalty.
• However, the growth of online platforms and digital technology has posed significant challenges to the travel intermediaries market. The emergence of online booking platforms has granted travelers direct access to a wide range of options, enabling them to independently research, plan, and book their trips without relying on traditional travel intermediaries like travel agencies or tour operators. The convenience, transparency, and cost-effectiveness offered by these online platforms have empowered consumers, reducing their dependence on intermediaries. Additionally, the advancement of digital technology has facilitated the creation of innovative travel-related services, including price comparison websites, travel apps, and virtual assistants, further streamlining the booking process. Consequently, the conventional role of travel intermediaries has been disrupted, resulting in a decline in their market share and posing long-term sustainability challenges in the evolving travel industry.

Market Segmentations

• The Global Travel Intermediaries Market is segmented based on Service Type, Mode of Transport, Mode of Booking, and Geography.
• By Service Type, the market is classified into Vacation Packages, Travel, and Accommodation. Vacation Packages offer travelers a convenient and hassle-free way to plan their trips. Travelers can simply choose a package that fits their budget and interests, and the travel intermediary will handle the rest, including booking flights, hotels, and activities. It saves a lot of time and effort for a traveler.
• By Mode of Booking, the market is classified into Online and Offline. The online segment is growing at the highest CAGR because it is convenient for travelers as it allows them to book their travel arrangements from the comfort of their own homes. They can compare prices and availability from different suppliers, and they can book their travel arrangements without having to wait in line or speak to a travel agent.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Americas has the highest share due to the rising disposable income of the middle-class and having popular tourist destinations in the region.

Recent Development

• MakeMyTrip launched Dynamic Itineraries that allow travelers to customize and buy holiday packages in real time - December 2022.
• Despegar, an online travel company in Latin America acquired TVLX Viagens e Turismo S.A (“Viajanet”), an online travel agency in Brazil, for a total consideration of approximately USD 15 Mn - May 2022.

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of the Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Travel Intermediaries Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Travel Intermediaries Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Travel Intermediaries Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market