Summary of the report – Rising adoption of smartphones is one of the major drivers for the global online booking software market growth as the high adoption of smart phones has increased the demand for mobile-based appointment scheduling solutions, offering companies a new platform of opportunities to develop. mobile solutions and increase their market presence. According to a study, the number of smart phone users in North America was 264.2 million in 2016 and is expected to reach 373.4 million by 2021. Similarly, the number of smart phone users in Asia- Pacific was 2.0 billion in 2016 and is expected to reach 3.1 billion by 2021.
The global online booking software market is estimated to reach US$552.1 million by 2025
Online booking tools, also known as appointment scheduling or reservation tools, allow companies or professionals to manage appointments or reservations. In 2017, the global online reservation software industry introduced $194.3 millioncompared to $175.8 million in 2016. The online reservation software industry is expected to produce $552.1 million turnover per 2025 with a 14.4% CAGR. One of the major drivers of global market growth is the growing internet penetration, especially in emerging markets. For example, 28% of all Indians, according to Coherent Market Insights, used the internet in 2016, and this number is predicted to rise to 59% by 2021. As a result, this increase is due to an increase in Internet use. users.
In 2017, the on-premise segment occupied a dominant position.
The on-site category dominated the online booking software market in 2017, generating revenue of US$114.2 million. During the forecast period, it is expected to grow at a CAGR of 11.6% to reach US$268.6 million. Rising data security concerns are one of the major factors driving the demand for on-premises solutions. This is because on-premises software offers higher levels of data protection than cloud- or web-based solutions.
Online Booking Software Market Split by Product Type and Applications:
According to the study, the global online booking software market is bifurcated into segments on the basis of product type and application. The market share and growth rate of each segment is used to evaluate it. Additionally, the analysts have reviewed the potential areas that could benefit the Online Booking Software market producers in the coming years. Accurate value and volume estimates are provided by regional research, allowing market players to get a complete picture of the Online Booking Software market activity as a whole.
Global Online Booking Software Market, By Deployment Model:
Global Online Booking Software Market, By User Base
Regional Analysis of Online Booking Software Market:
The major manufacturers in the market are mentioned in this section of the report. It helps the reader grasp the tactics and alliances participants are adopting to withstand market competition. The in-depth research offers an important microscopic view of the market. Analysis of the manufacturers’ regional revenues over the forecasted period will enable the reader to locate their geographical footprints.
On the basis of geography, the global market for Online Booking Software Market has been segmented as follows:
North America includes the United States, Canada and Mexico
Europe includes Germany, France, UK, Italy, Spain
South America includes Colombia, Argentina, Nigeria and Chile
Asia Pacific includes Japan, China, Korea, India, Saudi Arabia and Southeast Asia
During the forecast period, Asia-Pacific is expected to have the highest CAGR. The online booking software industry in Asia-Pacific reported US$49.5 million in 2017. With an expected CAGR of 15.9% throughout the forecast period, the online booking software market online in Asia-Pacific is expected to reach US$155.3 million by 2025. Some of the biggest economies driving the market expansion in this region are China, India, and Japan. An increase in the number of startups in this field is expected to accelerate market expansion. For example, India was the third largest startup base in the world in 2016 and is expected to have 10,500 startups by 2020, according to the National Association of Software and Services Companies. Hence, the demand for cloud-based appointment scheduling has increased as new startups have emerged.
The Indian market is expected to grow at the fastest rate in the Asia-Pacific region during the forecast period. The Indian online booking software market generated $11.3 million in revenue in 2017 and is expected to reach $42.2 million by 2025, growing at a CAGR of 18.5% over the forecast period.
During the projected period, it is expected that the cloud-based or web-based category will have the highest CAGR. With a CAGR of 17.6% over the projection period, the segment is expected to grow from sales of US$268.7 million in 2017 to US$283.5 million by 2025. Businesses can cut spending computing using a cloud-based deployment paradigm. Pay-as-you-go is the business model used to provide these services. By encouraging mobile collaboration between employees, these services also help companies achieve economies of scale. Flexibility, communication and reliability within the company are all improved.
Over the projected period, the business user base sector is expected to show the highest CAGR. With a CAGR of 16.0% over the projection period, the business user base segment is expected to generate revenue of US$202.2 million by 2025, from US$63.7 million in 2017.
In conclusion, the Online Booking Software Market report is the reliable source of market research that can dramatically accelerate your business. The research displays economic data including market growth rates, figures, key regions, product values, profits, limits, production, supply, and requirements.
Research methodology :
The market size is determined in terms of value (USD Million) and volume in the Online Booking Software Market report (M Sqm). The market size of the Online Booking Software market and the size of numerous other dependent submarkets in the overall market have both been assessed and validated using top-down and bottom-up methodologies.
Secondary research has been used to identify the major players in the market, and both primary and secondary research have been used to estimate their market shares. Verified secondary sources and primary sources were used to calculate percentages and distributions.
The online booking software market offers customized reports according to your needs. To meet your specific needs, this report can be customized. Contact our sales team who will ensure that you receive a report that meets your specifications.
How we considered the effect of Covid-19 in our report:
The effects of COVID-19 on the market have been monitored in all the data we have listed. This considered both upstream and downstream of the complete supply chain. Additionally, if possible, we will add a COVID-19 update supplement/report to the report in Q3. For more information, contact the sales team.
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