As per newly released data by Future Market Insights (FMI), the Itinerary Aggregators market is estimated at USD 27 million in 2023 and is projected to reach USD 55.6 million by 2033, at a CAGR of 7.5% from 2023 to 2033. Itinerary Aggregators market in its parent market (tourism market) is approximate 10% to 15%.
Growing Participation of Travelers in Leisure Activities
Leisure activities such as recreation and active participation in outdoor activities have resulted in unprecedented increases in temporary migration. The tourism industry's expansion has ushered in a brand-new industrial revolution. Day recreation, a category of leisure activities that take place outside of the home and over a short period of time, has also exploded in popularity in Westernized civilizations.
People's leisure time mobility is linked to consumer behavior, such as the usage of lodging and transportation, the purchase of tourist goods, and the use of tourist services. As a result, tourism has become the world's leading and significantly growing economic sector. The rising participation of travelers in activities such as hiking, camping, diving, surfing, and others is expected to boost the growth of the itinerary aggregators sector.
Marketing Strategy of Itinerary Aggregators on Regional Preference
In the post-Covid situation, the government is loosening the pandemic restriction and re-opening national and international borders. The tourism sector is recovering as a result of this effect in every corner of the world. Online aggregators see a huge demand for customized tours from travelers.
The itinerary aggregators try to provide the interface in the local language. This helps travelers to understand the information available on the application more clearly and even helps itinerary aggregators to attract more travelers on their application. In 2014 MakeMyTrip added the Hindi language on their app and website to convey information available on the website in a better and more efficient way. Since then various other companies in India and also in different countries have adapted this strategy to overcome the language barrier.
| Attributes | Details |
|---|---|
| Itinerary Aggregators Market CAGR (2023 to 2033) | 7.5% |
| Itinerary Aggregators Market Size (2023) | USD 27 million |
| Itinerary Aggregators Market Size (2033) | USD 55.6 million |
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Itinerary Aggregators are mobile apps that include all the components of a trip. It has improved travel efficiency by designing marketplaces that help travelers to meet their needs while traveling. People of all ages want to travel and explore new places around the world.
People travel either for leisure or to learn something new or for business work reasons. The travel business benefits from the itinerary aggregator system. It's also advantageous for tourists for a variety of reasons, including the opportunity to plan their trip, learn more about the overview of the tour, and a better understanding of the accommodation and price comparison.
| Countries | Market Share (2022) |
|---|---|
| United States | 3% |
| Germany | 5.8% |
| Japan | 4% |
| Australia | 5% |
Tourism in India contributes one of the leading margins in the GDP. In 2020 the travel and tourism industry of India contributed USD 122,000 million which was 5.1% of India’s overall GDP and is expected to reach USD 512,000 million by 2028. India is expected to have a market CAGR of 6% by 2033.
The tourism industry’s contribution to GDP is expected to increase at an annual growth rate of 10.35% between 2019 and 2028. Hence, the Ministry of Tourism of the Government of India is taking active efforts to promote and enrich the travel and tourism sector in India with infrastructure development, organizing medical and coastal tourism, and providing e-visa facilities.
The government of India has partnered with many other third-party aggregators to promote tourism in India. In 2020, the Ministry of Tourism of India launched the Indian tourism app Dekho Apna Desh with an aim to make people more knowledgeable about the cultural heritage and lesser-known destinations of India. This initiative was intended to help itinerary aggregators garner a greater number of tourists.
As people from around the world as well as in our country are more drawn to learning about, exploring and examining the way of life and religion of spirituality, the tourism sector is increasingly drawn into trips to India. As a result, going forward, this increases the demand for travel aggregators in India like Make My Trip, Yatra, Kesari, Thomas Cook, Veena World, Expedia, and others.
Korean Tourism believes in harmony between tradition and modernity. Travelers in Korea witness a unique balance between old culture and modern culture. The tourist attraction in Korea projects modern values on historic cultural heritage. With this motive and development in technology, Korea is attracting travelers.
For instance, Busan, South Korea's southernmost town, experienced an enormous rise in tourism in the last few years. Busan's diverse landscape of mountains, rivers, beaches, and oceans makes it a phenomenal location for business, pleasure, and pleasure travel.
Thus, tourist growth has been extraordinary. As a result, it is expected Busan is likely to create a great opportunity for travel itinerary aggregators around the world and especially for Korean itinerary aggregators.
Tourism is the most important part of the Australian economy. It contributes mainly to the Australian GDP. Australia tourism is known for the coastal cities and high-profile destinations such as the Great Barrier Reef, the world’s leading reef.
The government is taking effort to develop strategies that attract travelers to visit Australia. This serves as an opportunity for itinerary aggregators for catering to a number of travelers planning to visit Australia.
Besides this, Australia Tourism tied up with 5 airline companies Malaysia Airline, Singapore Airlines, Qantas, Jestar, and Scoot under Yours to Explore campaign. The campaign offered great deals on airline tickets, accommodation, and other rentals. This campaign generated demand for these airline aggregators and also other itinerary aggregators.
According to the analysis, in terms of tour type package tours are mostly preferred by all age groups of tourists as the package tours are more convenient for tourists to book via various channels. Due to this, package tours held a market share of 26% in 2022. Besides this, the tour operators even offer heavy discounts on package tours in order to attract them.
In terms of age group, the number of visitors from age groups 15-25 years, 26-35 years, and 36-45 years is estimated to increase significantly since this cohort is more likely to visit tourist attractions as they are more interested in exploring new places. They place a great emphasis on enthusiasm and interest in traveling, and they frequently travel to new locations.
Apart from that, the government is promoting and developing various tourist attractions in their respective nations for visitor comfort and relaxation.
For example, in 2010 the government of India started Maharaja Express for tourists who want to explore parts of India. The train travels through different parts of India and briefs tourists about the culture, values, and places of India. The train has included accommodation, dining, and all sorts of comfort.
In terms of aggregator’s type, multimodal aggregators are mostly preferred by tourists because tour operators offer a variety of package travel tours, including customization. Initially tour aggregators dominated the market with a share of 27% in 2022. However, Travelers get all the required components of travel at one place making it easy to plan and organize trips accordingly. This is also beneficial for aggregators as they get the opportunity to expand and provide various services from one channel.
Leading players operating globally in the market and are focusing on expansion and new tour launches in order to expand their business globally.
For instance:
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The market in 2023 is valued at USD 27 million.
The market is likely to reach USD 55.6 million by 2033.
The market is expected to register a 7.5% CAGR until 2033.
Technological advances, food aggregators, and tour packaging are key opportunities.
AndesTransit, Skyscanner, and Plum Guide are some key players.
| Market Size (2023) | USD 455,023.4 million |
|---|---|
| Market Projected Size (2033) | USD 1,280,410.5 million |
| Value CAGR (2023 to 2033) | 10.90% |
| Market Estimated Size (2022) | USD 184 Million |
|---|---|
| Market Projected Size (2032) | USD 744.38 Million |
| Market Value-based CAGR (2022 to 2032) | 15% |
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