Online Market Analysis
Online Marketing Place for Hospitality Services Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
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.
Online Marketing Place for Hospitality Services Market Taxonomy
On the basis of type of platform, the global online marketing place for hospitality services market is classified into:
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.
On the basis of service type, the global online marketing place for hospitality services market is classified into:
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.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to: