IDC Forecasts Strong Growth in eCommerce for Travel Industry
FRAMINGHAM, MA – FEBRUARY 23, 2001 – The travel industry and the Internet make a prosperous pair. According to IDC, online sales of airline tickets, car rentals, and hotel reservations make the travel industry one of the strongest ecommerce markets in existence today.
"The ease of substituting one remote channel for another and the lack of need for physical fulfillment make the travel industry ideal for ecommerce," said Joshua Friedman, senior research analyst for IDC’s eTravel program.
The airline industry represents the largest segment of the etravel industry. IDC estimates U.S. online airline ticket sales alone soared past $7 billion last year and will climb to much higher altitudes in the next few years. U.S. online hotel and motel sales were well above $2 billion in 2000, and U.S. online car rentals will pass the billion-dollar mark this year.
The biggest factor in stimulating online travel sales will be Web sites designed to meet consumer needs. "The travel industry must improve its understanding of the consumers' booking habits and change their sites to address consumer sales," Friedman said.
IDC believes strong sales in one segment of the etravel industry will ultimately lead to stronger sales in the other segments.
"There is a synergy among online travel industry components," Friedman said. "Car rental, airline, and hotel online sales will all feed off each other."
IDC’s eTravel research program recently published the following bulletins that cover several aspects of travel ecommerce:
· U.S. Car Rental Online Sales: Market Forecast and Analysis (IDC #B23177)
· U.S. Online Airline Ticket Sales: Market Forecast and Analysis, 1999-2004 (IDC #B22662)
· U.S. Online Airline Ticket Sales: Market Share Driven by Embracing Channel Conflict (IDC #B23237)
· U.S. Hotel and Motel Online Sales: Market Forecast and Analysis, 1999-2004 (IDC #B22982)
· Overview of the Online Travel Market in Asia/Pacific (IDC #B23518)
To purchase any of these bulletins, contact Demetra Georgakopoulos at 1-800-343-4952, extension 4496, or email her at firstname.lastname@example.org.
IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world’s leading IT suppliers, IT organizations, ebusiness companies and the financial community. Additional information can be found at www.idc.com.
IDC is a division of IDG, the world's leading IT media, research and exposition company.
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