Boom for the online travel booking market, growing 93% by 2025

The post-pandemic will be the scene of a real boom in the global online travel market: according to Statista, in fact, by 2025, its value will almost double, from 432 to 833 billion dollars. A positive sign also for the European, which should reach 324 billion euros by 2023.

For data integration experts like Stefano Musso, CEO of Primeur, there is a need to continue to focus on data integration to improve services and customer experience, as well as internal business and decision-making processes.

The topic of digitization has become more and more incessant in recent years, specifically affecting the online travel market. Hotel and flight reservations, car rental, everything has become just a click away thanks to the management of an increasing amount of data. Just think that, according to what was recently reported by Statista, if in 2020 the global online travel market was worth around $ 432 billion, in just 5 years by 2025 it will reach $ 833 billion, with an estimated increase of 93%. A disruptive trend that increasingly affects the choices, strategies and investments of major players in the tourism sector: according to the same organization, 65% of global turnover for the entire sector comes from operations and transactions on online channels. A fast-growing sector which, according to an American survey by Research And Markets, will have Asia as the most profitable market, with a growth rate of 6.9%, followed by Africa (5.4%) and the Middle East and North America, which are expected to increase by 4.3% and 4.1% respectively. There are also positive signs for the European market, which, according to PhocusWire, will reach 324 billion euros by 2023. But that’s not all, as more than half of Europeans’ travel bookings have been made. online before the pandemic and on industry platforms will grow by 5% in the years to come. A clear testament to how data integration is an indispensable tool for improving services and customer experience as well as internal operational and decision-making processes, increasing competitive advantage, especially in online travel.

The importance of data integration is also demonstrated by Italian technological excellence appreciated around the world such as Primeur, a multinational company specializing in data integration for over 30 years. “The platforms of the online travel sector are now a complex ecosystem, made up of numerous connections with external complementary services, such as the reservation of complete stays with flights, overnight stays, cars and the purchase of services and experiences on site. . These platforms then find themselves “talking” to a myriad of different systems, with different features and languages, but they must be able to provide a unique user experience. All data movements between one application and another, up to payment management, must take place “behind the scenes” in the experience of those who browse and book: automating and securing operations is essential, especially when there is a large amount of sensitive data and information. This is also what Data Integration is for, making this data travel between the different management, reservation and payment systems, safely, at the right time and in the right format – explained Stefano Musso, CEO of Primeur – The only way to achieve excellent results with a system that is sustainable over time is to adopt a flexible data integration strategy supported by specific software. All of this must clearly comply with GDPR regulations and therefore the traceability, masking and immediate control of all personal data. We have been doing this in Italy and around the world for more than 30 years, in collaboration with the most important Fortune 500 companies. Great satisfaction for an Italian company often preferred to the giants of Silicon Valley ”.

Using big data to help online travel agencies improve their services and processes is a method shared by a study published in Analytics Insight that found that 60% of people who visit a website tend not to to recover. Optimizing data management therefore helps build consumer loyalty. What’s more, according to a StratosJets survey, around 700 million people will make reservations online by 2023, and 83% of American adults prefer the web to traditional travel agencies. But that’s not all, because every year it is estimated that there are more than 148 million reservations and 70% of consumers want to search using smartphones. According to experts, in fact, better data integration would help improve consumers’ online experiences: 99%, in fact, would like to be able to navigate through personalized searches.

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