Travel - North America
North America- The Travel market in North America is set to experience significant growth in the coming years.
- According to projections, the total revenue of the market is expected to reach US$468.40m by 2022.
- This indicates a promising future for the industry in the region.
- Furthermore, the Travel market is anticipated to maintain a steady annual growth rate of 11.81% from 2022 to 2027.
- As a result, the market volume is projected to reach US$941.00m by 2027.
- This demonstrates the potential for continued expansion and development within the industry.
- When examining the various revenue streams within the Travel market, it is estimated that in-app purchase (IAP) revenue will reach US$22.98m in 2022.
- Additionally, paid app revenue is expected to reach US$23.23m in the same year.
- These figures highlight the increasing trend of consumers utilizing mobile applications within the travel sector.
- Advertising revenue is also projected to contribute significantly to the overall revenue of the Travel market.
- It is forecasted to reach US$422.10m in 2022.
- This emphasizes the importance of advertising strategies in capturing the attention of potential customers within the industry.
- Moreover, the number of downloads within the Travel market is expected to reach 91.21m downloads in 2022.
- This showcases the growing popularity of travel-related applications among consumers.
- Currently, the average revenue per download is estimated to be US$5.13, reflecting the potential profitability of each customer.
- On a global scale, it is worth noting that United States generates the highest revenue within the Travel market.
- In 2022, the projected revenue for the United States alone is US$444.90m.
- This highlights the country's dominant position in the industry and its significant contribution to the overall market revenue.
- Overall, the Travel market in North America is poised for substantial growth in the coming years.
- With promising revenue projections and a strong presence United States, the industry is set to thrive in this region.
- Key regions:
- Germany,
- South Korea,
- United States,
- Europe,
- Asia
Definition:
The Travel market contains apps that make it easier to book trips and accommodations. For example, the Booking.com and Airbnb apps allow users to reserve hotels or apartments through a few simple clicks and provide numerous recommendations, photos, and customer reviews. Major airlines such as United Airlines also have their own apps that streamline the process of booking flights and offer points and rewards for travel.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
