The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreSep 2015
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Over the past 20 years, the rise of online travel has shaken up the travel industry. Today, a new revolution is taking place in travel driven by the rise of the mobile channel. Always-connected travellers use their mobile devices to seek information and services, and make additional bookings, during their trips. The shift of focus from the time of the booking to the travel experience means for travel companies a change to their business models, which now need to incorporate mobile assistance.
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Internet access is becoming increasingly mobile with mobile broadband subscriptions dominating total broadband subscriptions globally in 2014 with a 78% share.
Mobile sales accounted for 12.5% of total online travel bookings made globally in 2014 and are expected to account for 25% of total global online travel bookings by 2019, to eventually account for the majority of global online travel sales.
Online travel agencies (OTAs) was the leading travel category for mobile bookings in 2014. Their leadership in the fast-growing mobile channel translates into a competitive advantage over direct suppliers and traditional intermediaries.
The rise of the mobile channel has changed travel consumer behaviour as always-connected travellers now use their mobile devices to find information and seek customer services, as well as make additional bookings, during their trips.
The shift of focus from the time before the trip to the time during the trip means for travel companies a change to their business models, which need to incorporate mobile travel assistance, services and bookings.
Travel players will be increasingly able to suggest travellers the best things to do for them in the location they are visiting on the basis of their personal preferences, of their exact location, and of the time of the day.
The rise of the mobile channel is expected to have a significant impact on the travel competitive landscape, favouring those players that can respond more effectively to the challenges coming from the new technological developments and consumer behaviour.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.