The Global Tourism based web and mobile application Market was $15.6 Bn in 2019, and it is expected to reach $56 Bn by 2028. It is eventually growing at a commendable high compound annual growth rate CAGR of 30.4% between 2020-2028. However, the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. The Tourism based web and mobile application Market is primarily driven by the rise in awareness of precision farming and surging need for crop yields by increasing population. Moreover, farmers assistance in monitoring the threats like drought conditions are another factor that fuels the market growth in the forecast period.
Global Software Product Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The global Tourism based web and mobile application Market has been segmented into Type, web and mobile. By product, the global Tourism based web and mobile application Market is divided into Hardware, and Software. By stakeholders, the global Tourism based web and mobile application Market is divided into Government, Third Party Travel Agencies, Bloggers, Direct travel agencies and others. By applications, the global Tourism based web and mobile application Market is divided into Accommodation Bookings, Planning Travel, Cab Booking, Route Mapping, Ticket Bookings, and Others. The growth is attributed to high investment by the investors in the startups offering third party access of all above mentioned applications.
By Region, North America is Holding the Major Market Share
The global Tourism based web and mobile application Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America Tourism based web and mobile application Market is holding the largest market share currently and is estimated to show the highest compound annual growth rate in the upcoming forecast period due to the more than 70% users are from this region. The region is far ahead in the development and adoption of innovative technologies in the field of tourism. Asia Pacific market is projected to significant growth over the forecast period due to increasing offers and usage across third party tourism based mobile applications. Major investors across the world are significantly investing in the region for the development of low-cost solutions which can be used in the domestic as well as local sector. The growing population and increasing demand for travelling are also anticipated to trigger the Asia Pacific market growth in the forecast period. Europe region is also expected to witness remarkable growth over the forecast period. LAMEA is also anticipated to show decent growth due to factors such as rising number of expats as well as travelers across these region countries. These factors are expected to boost the market of the Tourism based web and mobile application throughout the forecast period from 2020 to 2026.
Major Players in Global Tourism based web and mobile application Market
Some of the key players in the global Tourism based web and mobile application Market include Booking Holding, Airbnb, Inc., TripAdvisor, Inc., Expedia Group, Recruit Holdings, Uber Technologies, Inc., MakeMyTrip Limited, Oyo Hotels & Homes and IRCTC.
The Global Tourism based web and mobile application Market Has Been Segmented into:
Global Tourism based web and mobile application Market: By Type
Global Tourism based web and mobile application Market: By Stakeholders
Global Tourism based web and mobile application Market: By Applications
Global Tourism based web and mobile application Market: By Purpose
Global Tourism based web and mobile application Market: By Users
Global Tourism based web and mobile application Market: By Region
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