The global tourism industry is surging at a rapid pace with rising demand for online booking tools by the corporates. Online Booking Tool is a type of reservation system used by the corporates to book or compare the complete tourism package service, which can be adjusted depending upon the business requirements. This tool gives precise estimates related to the price of the entire tour and aids the firm to recognize new investment funds openings along with the performance benchmarks against the comparative organizations.
The global market is expected to witness lucrative growth due the growing digital travel market, escalating sovereign investors, accelerating economic growth and improvisation in the payment process. The market is trending with the rising virtual European hotel reservations, intensifying preference for cloud computing software, escalating business travel spending and emergence of innovative technologies. However, there are some growth hindering factors in the industry such as stringent regulations and data infrastructure security concern.
Regionally, Asia Pacific held the leading position in the market as a result of the growing popularity of virtual tools and the growing business travel trips by the corporates in the key revenue contributing areas including Australia, China, Japan and India.
The report “Global Online Booking Tool Market: Industry Analysis & Outlook (2018-2022)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. Key players i.e. SAP SE (SAP Concur), Expedia Group, Inc., Sabre Corporation (GetThere) and Amadeus IT Group SA are being profiled along with their respective financials and growth strategies.