UK Online Travel Market Size
| 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 |
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 Market Trends
This section covers the major market trends shaping the UK Online Travel Market according to our research experts:
Tourism is Driving the Online Travel Market in United Kingdom
Tourism is an economic, social, and cultural asset. The sector is a major contributor to jobs and growth in the UK, indirectly employing 4 million people. The UK has world class museums and attractions, breath taking and diverse natural landscapes, a thriving cultural and arts sector, a world-famous festival scene, unrivalled expertise in staging and organising business and sporting events, a renowned heritage offer, great transport connections, first-class food, and drink and much more. If the tourism sector is successful, then many other sectors like arts, culture, hospitality, air, maritime, rail, coach, and business travel are successful too. Tourism is driving the United Kingdom online travel market. Driven by the increasing impact of Generation Y and Generation Z on the United Kingdom tourist market, the demand for technologically manufactured personal experiences is increasing. The rise of mobile devices such as smart phones and tablets has boosted the need among these young generations for private personalisation of their experiences along all phases of the customer journey.
Shift Towards Mobile Phones for Travel Booking
Consumers can use a mobile device to search and book travel all without the traditional gatekeeper travel agent. Travelers today are online and mobile-savvy more than ever before. 45% of UK travelers feel comfortable researching, planning, and booking trips to new destinations using only their mobile. New generations of mobile devices are so powerful that they can be used for any purpose and will be able to predict travelers' needs and solve problems in real-time. Mobile travel apps are gradually gaining pace in the market and are preferred by travelers to make their travel arrangements. Apps infused with various features are being developed to remain connected to travelers throughout their journey and to assist them whenever required. Travel apps offer flexibility to travelers, thus, becoming an important differentiating factor for the consumers while choosing a travel company.
UK Online Travel Industry Overview
The report covers major international players operating in the United Kingdom online travel market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
UK Online Travel Market Leaders
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Tripadvisor
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Booking
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Skyscanner
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Expedia Group
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lastminute.com
*Disclaimer: Major Players sorted in no particular order
UK Online Travel Market News
In September 2020, Thomas Cook, a major United Kingdom travel company that collapsed in 2019, has been relaunched as an online travel agent. The relaunch is backed by Fosun Tourism Group, the Chinese conglomerate that bought the Thomas Cook brand. The relaunch comes as the travel industry faces the worst tourism crisis since records began. The website features tens of thousands of hotels, as well as flights, transfers, and other add-ons, for customers to tailor trips, which will be protected by Atol, the government-run financial protection scheme operated by the Civil Aviation Authority (CAA).
In November 2020, Travomint, a venture of SNVA Travel Tech Pvt. Ltd has announced its association with online travel agency giant, Skyscanner. The strategic marketing collaboration signed by Travomint will herald a new approach towards providing services and affordable pricing for their customers. Through this collaboration, the users of Travomint will be able to enjoy various services provided by Skyscanner including comparing the prices and amenities regarding upcoming flight bookings and hotel pricing.
UK 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 Industry Value Chain Analysis
4.5 Porters Five Force 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
5.1 Service Type
5.1.1 Transportation
5.1.2 Travel Accommodation
5.1.3 Vacation Packages
5.1.4 Others
5.2 Booking Type
5.2.1 Online Travel Agencies
5.2.2 Direct Travel Suppliers
5.3 Platform
5.3.1 Desktop
5.3.2 Mobile
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Tripadvisor
6.2.2 Booking
6.2.3 Skyscanner
6.2.4 Airbnb
6.2.5 Expedia Group
6.2.6 Trivago
6.2.7 Thomas Cook Group
6.2.8 lastminute.com
6.2.9 Hotels.com
6.2.10 Jet2holidays
6.2.11 Dream World Travel*
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. DISCLAIMER
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 |
UK Online Travel Market Research 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.
What years does this United Kingdom Online Travel Market cover?
The report covers the United Kingdom Online Travel Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Online Travel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the major trends shaping the UK Online Travel Market?
The major trends shaping the UK Online Travel Market are a) Growing popularity of online travel booking channels b) Rising demand for personalized travel experiences c) Technological advancements like AI and virtual reality
How is the UK Online Travel Market segmented?
The UK Online Travel Market is segmented by a) Service Type: Transportation, Travel Accommodation, Vacation Packages b) Booking Type: Online Travel Agencies, Direct Travel Suppliers c) Platform: Desktop, Mobile
United Kingdom Online Travel Industry Report
The United Kingdom's online travel market has experienced significant growth, driven by technological advancements and evolving consumer behaviors. Top travel companies in the UK have embraced digital platforms for travel planning and booking, leveraging technologies like big data, automation, augmented and virtual reality, and social media to enhance the user experience. This has led to personalized travel options across transportation, accommodation, and vacation packages. The UK travel industry is witnessing a shift towards mobile bookings, with many travelers preferring to use their mobile devices. The market's segmentation by service type, booking type, and platform showcases its adaptability. Opportunities for growth include integrating immersive technologies, targeting environmentally conscious travelers, and leveraging social media for marketing. Despite challenges such as security concerns and competition from direct bookings, the market's strengths like high internet penetration and diverse online platforms position it for sustained growth. 糖心vlog传媒鈩� Industry Reports provide a comprehensive analysis of the UK Online Travel market's share, size, and revenue growth rate, offering an insightful forecast and historical overview. Get a sample of this industry analysis as a free report PDF download.
