Travel Apps – Thematic Intelligence

Travel Apps Thematic Intelligence Report Overview

Apps are now expected as a part of a company’s digital offerings. Travel apps have become popular due to the convenience they offer to travelers. Technology has allowed companies to create apps that offer a superior service to travelers, even excelling the online offering of a company.

The travel apps thematic intelligence report provides in-depth insights into the travel apps theme and the emerging trends that will impact the use of these apps in the travel and tourism industry in the coming years. The report further entails a deep-dive analysis of the travel & tourism industry, including several real-life case studies that showcase how destinations and companies have responded to the impact of this theme on their operations. The report also covers value chain insights, key players, and sector scorecard analysis.

Travel Apps – Key Trends

The main trends that will shape the travel apps theme over the next 12 to 24 months are technology trends, consumer trends, and industry trends.

Technology Trends: The key technology trends influencing the travel apps theme are the growing adoption of artificial intelligence (AI), the advent of 5G technology, and growing cybersecurity concerns. For instance, AI has invaded the tourism sector and is being used to gain a competitive advantage in a fragmented, highly saturated market.

Consumer Trends: Growing demand for personalization, increasing use of online booking, and extensive use of social media are a few of the consumer trends impacting the travel apps theme.

Industry Trends: Implementation of loyalty programs within travel apps, growth of subscription models, and the sharing economy are the regulatory trends impacting the travel apps theme.

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Travel Apps – Value Chain Analysis

The travel apps value chain comprises five segments, intermediaries, transportation, lodging, destination, and travel services.

Intermediaries: Leading intermediaries in the travel apps space tend to be the OTAs with the largest sums of capital to be allocated to app development. Leading OTAs in the travel apps theme often create advanced features in their apps which is a product of constant investment in advanced technologies, hiring, and patents. For instance, based on what users have searched in the days leading up to a booking, the Booking.com or Expedia app will suggest personalized offers based on the data gathered from the user’s search history, which informs an AI algorithm.

The Travel Apps Value Chain

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Travel Apps – Leading Companies

A few of the leading public companies associated with travel apps theme:

• Accor
• Airbnb
• American Airlines
• Booking Holdings
• Carnival Corporation

A few of the leading private companies associated with travel apps theme:

• Hopper
• Citymapper
• Curb
• OYO Rooms
• Turo

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Travel Intermediaries Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.

• The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
• The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
• The risk screen ranks companies within a particular sector based on overall investment risk.

The other sector scorecard provided in the report is:

• Rail and road sector scorecard

Travel Intermediaries Sector Scorecard

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Scope

The thematic report provides an overview of the impact travel apps have on the travel sector and seeks to understand some of the contributory factors. The key trends within this theme are split into three categories: technology trends, consumer trends, and industry trends. Several case studies are included to analyze the multiple ways countries and companies have responded to the impact of this theme’s growth and what they are doing to grow with this theme.

Key Highlights

• Globally, travelers are increasingly online and more mobile-savvy than ever before. The online travel market value is expected to increase going forward, according to GlobalData forecasts. By 2026, market value is projected to reach $662.63 billion (CAGR 2023-26: 7.98%) as travelers increasingly switch to online travel intermediaries over in-store travel agents.
• According to GlobalData’s Q4 2023 Consumer Survey, 80% of global respondents stated that ‘time-saving’ is either ‘essential’ or ‘nice to have’ when making a purchase and 83% of global respondents stated that ‘convenience’ is either ‘essential’ or ‘nice to have’ when making a purchasing choice.
• Travel apps allow companies to offer a more convenient service, which often saves both time and money for consumers. When looking specifically at OTAs (online travel agencies), the most successful companies in this sub-sector give little reason for customers to shop elsewhere when purchasing the main services and products that create a domestic or international trip.
• The number of consumers who access the internet via mobile devices is increasing across the globe. When assessing the increase in the number of mobile internet subscribers across G7 nations (an organization of the world’s seven largest so-called ‘advanced’ economies, and therefore important tourism source markets), all countries displayed healthy growth.

Reasons to Buy

• Understand the current travel app trends within the travel landscape today and how these will escalate soon.
• Assess how travel and tourism companies such as tour operators, OTAs, and DMOs are utilizing travel apps to drive revenues.
• Acknowledge the potential pitfalls of using travel by understanding the social, cultural, and environmental effects on the destination.
• Discover recommendations for businesses involved in travel apps.