
Travel Apps - Thematic Intelligence
Description
Travel Apps - Thematic Intelligence
Summary
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. Acting as a ‘one-stop shop’, app focused providers such as Booking.com allow customers to book flights and accommodation, rent a car, and arrange attraction experiences all in one place. Additionally, the company provides customers with special ‘mobile-only’ deals to drive app usage and offer value for money. By saving customers time and money through app technology, online providers such as Booking.com increase their chances of creating repeat business, with loyalty programs often being integrated into mobile apps to encourage ongoing engagement.
This thematic research report takes an in-depth look at the theme of Travel Apps and the impact it has on the travel and tourism industry. This report analyzes the players impacted by this theme alongside the contributing trends, negative destination trends, unintended opportunities, and trends that have emerged as a result of Travel Apps. It then dives deep into an industry analysis, presenting several real-life case studies looking at how destinations and companies have responded to the impact of this theme on their operations. Recommendations are then offered for the travel sector, alongside a description of companies mentioned throughout.
Key Highlights
Across all sectors within travel and tourism, the travel apps theme has disrupted, to varying extents, the buyer-seller relationship. From lodging providers to travel service providers, companies have been facing increasing levels of digital disruption. Travel apps are becoming the most convenient way to access products and services thus investment in them has increased. Companies investing in a travel app proposition will be attractive to travelers over those who do not.
As consumers continue to demand easily accessible, yet innovative mobile-first strategies from companies, the travel apps space will continue to develop, and new companies are likely to enter the space if they have not already. With more consumers showing a positive sentiment towards the use of travel apps those players who decide not to enter the space will be at risk of losing customers in the future. Therefore, the power of travel apps must not be underestimated, and companies must invest to stay relevant to the traveler.
Travel apps are mobile applications related to the travel and tourism industry. These apps offer brands and tourists a direct line to each other, offering the customer convenience and the company a front-row seat in travel preferences. As elements of the travel process are increasingly performed on mobile devices, even at the research stage, companies need to be present in the formats that their customers are most familiar with. As a result of this, the importance of omnichannel connectivity is now paramount.
Apps have become increasingly common in everyday life, and there is a myriad of apps for different tasks: from chatting virtually with friends to conducting banking tasks, apps are now expected as part of a company’s digital offerings. Convenience is key and consumers desire all the required information for their trip to be in one place that is easily accessible. Travel firms that invest in a ‘mobile-first’ app strategy are likely to satisfy the demands of the 21st-century traveler. The functionality of these apps is endless. Apps have become a common option for customers to book through.
Who should buy?
CEOs, Senior Executives, and Marketing Executives within travel and tourism should use this report to understand the highly important theme of Travel Apps.
Scope
- This thematic report provides an overview of the impact Travel Apps has on the travel sector and seeks to understand some of the contributory factors.
- The key trends within this theme are split into three categories: consumer trends, enterprise 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.
- Understand the current Travel Apps trends within the travel landscape today and how these will escalate in the near future.
- 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 Apps by understanding the social, cultural, and environmental effects on the destination.
- Discover recommendations for businesses involved in Travel Apps
- GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
- All across the travel and tourism supply chain, now have an opportunity to capitalize on Travel Apps, and there are notable examples of this. Therefore, all should buy this report to fully understand how this theme will continue to be a key theme in the future travel landscape.
Table of Contents
81 Pages
- Executive Summary
- Players
- Thematic Briefing
- Defining the travel apps theme
- Trends
- Consumer trends
- Enterprise trends
- Industry trends
- Industry Analysis
- Market size and growth forecasts
- The number of available apps has grown markedly
- China has several app stores, presenting distribution challenges
- Travel apps only account for a small number of total apps
- Digitally advanced and smart apps are important
- The use of mobile devices to access the internet has grown demand for travel apps
- Case Studies
- TripIt
- Citymapper
- Hopper
- Timeshifter
- Packpoint
- Impact of travel apps on travel and tourism
- Developing an app presence is now essential
- Travel apps have altered the buyer-seller relationship
- Apps that serve a purpose will play a role in better meeting the needs of consumers
- Technology has created powerful apps
- Recommendations
- Continued investment and innovation in apps are critical
- Apps must contain the optimal level of functionality
- Tourism boards should invest in the travel apps theme
- Push notifications could become a powerful market channel if personalized
- Timeline
- Signals
- M&A trends
- Venture financing trends
- Patent trends
- Company filing trends
- Social media trends
- Value Chain
- Intermediaries
- Transportation
- Lodging
- Destination
- Travel services
- Companies
- Public companies
- Private companies
- Sector Scorecards
- Travel Intermediaries sector scorecard
- Who’s who
- Thematic screen
- Valuation screen
- Risk screen
- Rail and Road Transport sector scorecard
- Who’s who
- Thematic screen
- Valuation screen
- Risk screen
- Glossary
- Further Reading
- GlobalData reports
- Our Thematic Research Methodology
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Consumer trends
- Table 2: Enterprise trends
- Table 3: Industry trends
- Table 4: M&A trends
- Table 5: Venture financing trends
- Table 6: Public companies
- Table 7: Private companies
- Table 8: Glossary
- Table 9: GlobalData reports
- List of Figures
- Figure 1: Who are the leading players in the travel apps theme and where do they sit in the value chain?
- Figure 2: The many use cases for travel apps create a range of benefits for the industry and its customers.
- Figure 3: Apple’s App Store and Google Play have experienced a rapid increase in available apps in recent years
- Figure 4: China’s app landscape is dominated by China-based app stores
- Figure 5: Travel apps only accounted for a small number of overall listed apps
- Figure 6: Millennials are more influenced by how digitally advanced or smart a product or service is
- Figure 7: Mobile internet subscribers (million) (G7 nations)
- Figure 8: The travel apps story
- Figure 9: Travel app-related patent publications are trending downwards
- Figure 10: Travel app mentions peaked in 2021
- Figure 11: Trendline chart
- Figure 12: The travel apps value chain
- Figure 13: The travel apps value chain - Intermediaries
- Figure 14: The travel apps value chain - Transportation
- Figure 15: The travel apps value chain - Lodging
- Figure 16: The travel apps value chain - Destination
- Figure 17: The travel apps value chain - Travel services
- Figure 18: Who does what in the travel intermediaries space?
- Figure 19: Thematic screen - Travel Intermediaries sector scorecard
- Figure 20: Valuation screen - Travel Intermediaries sector scorecard
- Figure 21: Risk screen - Travel Intermediaries sector scorecard
- Figure 22: Who does what in the rail and road transport space?
- Figure 23: Thematic screen - Rail and Road Transport sector scorecard
- Figure 24: Valuation screen - Rail and Road Transport sector scorecard
- Figure 25: Risk screen - Rail and Road Transport sector scorecard
- Figure 26: Our five-step approach for generating a sector scorecard
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