Friday, 26 April 2024
As the number of air travelers has surged since the last few years, it has significantly impacted the airline booking platform market. The airline passenger growth rate is the major tailwind for the growth in the airline booking platform market. The changing economies of developing countries and increasing the purchasing power of customers are positively impacting market growth. During the last 15 years, the global air passenger increased by around 5% year-on-year.
Airline booking platform market in global grew from US$ 3,601.05 Mn in 2018 to US$ 8,852.77 Mn by the year 2027. This represents a CAGR of 10.7% from the year 2019 to 2027.
According to the International Air Transport Association (IATA), the number of air passengers is expected to double between 2016 and 2035. Asia-Pacific is expected to witness the highest growth in air travelers and is significantly contributing to the market growth. This growth is attributed to factors such as changing economies of developing countries, increasing the purchasing power of customers, the boom in the travel & tourism sector, the emergence of low-cost carriers (LCCs), global connectivity of aircraft, changing the face of aviation, and others. Aviation demographics are undergoing substantial changes, generation Y is increasingly spending more time traveling and are expected to be the key customer for airline booking platform.
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The reports cover key developments in the Airline Booking Platform market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Airline Booking Platform market are anticipated to lucrative growth opportunities in the future with the rising demand for Airline Booking Platform market in the global market.
Key Players Influencing the Market
The “Global Airline Booking Platform Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of Airline Booking Platform market with detailed market segmentation by component, deployment type, industry vertical, and geography. The global Airline Booking Platform market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Airline Booking Platform market players and offers key trends and opportunities in the market.
Besides this, the report analyzes factors affecting Airline Booking Platform market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global Airline Booking Platform Market report.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Airline Booking Platform market based on the type and application. It also provides market size and forecast till 2027 for overall Airline Booking Platform market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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