The Route Aggregators Market is estimated at $21 billion in 2022 and should reach $37 billion by 2032, at a CAGR of 6.6% from 2022 to 2032. The market for route aggregators in its parent market (tourism market) is approximately ~10%-15%.
Itinerary aggregators are gaining influence in the tourism industry. With the increase in technological developments, route aggregators offer personalized tours. As a result, route aggregators provide transparency in terms of all necessary information such as travel plan, price comparison, service options and alternatives, etc.
The aggregators promote their services by offering various offers to the tourist when traveling for various reasons of work whether he is a business traveler, for pleasure and leisure in exotic places or for better understand and discover new cultures and religions. This saves time and the offers offered by aggregators saves money.
Additionally, popular events are expected to elevate the route aggregator market. For example, EXPO 2020 was a World Expo that took place in Dubai, United Arab Emirates from October 1, 2021 to March 31, 2022.
The event was based on promoting opportunity, mobility and sustainability. Despite the covid-19 effect, more than 24 million travelers visited the Expo in the space of 6 months. This has benefited travel itinerary aggregators as there has been an increase in demand for flight bookings and hotel bookings by travelers visiting the event in Dubai.
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Upcoming sporting events such as Summer Paralympic Games 2024, Olympic Games 2024, FIFA World Cup 2022 and 2026, FIFA Women’s World Cup 2023, ICC World Cup 2023, other events like EXPO, carnivals, festivals, campaigns of various countries are expected to increase the demands of route aggregators.
As such, the route aggregator market is expected to grow at a CAGR of over 6.6% throughout the forecast period of 2022-2032, to be valued at $37 billion by the end of 2032.
Key Findings from the Route Aggregators Market Research
- Itinerary aggregators account for the majority of the tourism industry market. In a post-pandemic situation, travelers want to explore and discover new places, want to travel to different parts of the world. Hence, there may be an increase in demand for these route aggregation apps in the market.
- The route aggregator market is predicted to grow by 20.0% CAGR in the APAC region from 2022 to 2023. The vast development in the Asia-Pacific countries like India, Malaysia, Singapore, South Korea and China will attract tourism and generate demand for the domestic market. as well as for international route aggregators.
- In terms of type of aggregators, multimodal aggregators will continue to increase demand from all age groups through 2032 as travelers find multimodal easy and convenient.
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Impact of COVID-19 on the market
The COVID-19 pandemic had a detrimental effect on the tourism industry in fiscal year 2020. International tourist arrivals (overnight tourists) decreased by 70% in 2020 compared to the year 2019 according to the United Nations World Tourism Organization (UNWTO).
The Asia-Pacific region, which was the first to be affected by the disease, saw an 84% reduction in arrivals in 2020. Regional tourism is growing in some major economies, such as China and Russia, even if the demand for international travel is still on the decline. Even if it is often only limited, domestic tourism contributes to the renewal of a certain number of regions. Consequently, the route aggregator market has been affected by 78% due to the impact of the covid-19 pandemic.
Who wins?
Leading companies in the Route Aggregators Market are focusing on aggressive promotional strategies, advertisements, and new product launches that have boosted the sales growth of the global Route Aggregators Market.
The major players present in the itinerary aggregator market are Booking Holdings Inc., Tongcheng Travel Holdings ltd, TripAdvisor Inc., Make My Trip Ltd., Expedia Group Inc., TUI AG, RedBus, Skyscanner, Airbnb, Hilton Worldwide Holdings Inc. of the best route aggregators, among others.
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Get more valuable insights
Future Market Insights, in its new offering, provides an unbiased analysis of the Route Aggregators market, showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2032.
The study discloses compelling information about the Route Aggregators market based on the type of aggregators (flight aggregators, cruise aggregators, train aggregators, intermodal/multimodal aggregators and others (car rental aggregators, bus)), Type of tourism (domestic and international) Type of tour (Independent traveller, tour group, package traveler) Orientation towards consumers (men, women and children) Age group (15-25 years old, 26- 35 years old, 36-45 years old, 46-55 years old, 66-75 years old) in seven major Regions.
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