What Are the Factors Inflecting Online Travel Market in Taiwan?
Inbound Visitors: The numbers of inbound visitors in Taiwan has been on a rise in the period of 2013-2018, wherein the numbers rose from ~ million in the year 2013 to ~ million in the year 2018. This served as a great motivator and would increase the opportunities for online travel companies operating in Taiwan.
Visitor’s Expenditure: It has been observed that the amount of expenditure by visitors in Taiwan has increased over the span of these five years, although at a fluctuating growth rate.
Growing Demand for Long Haul Holidays: The increasing demand for long-duration holidays has shifted the travelers towards online bookings due to the availability of customized packages at reasonable prices.
Internet Penetration: The internet penetration in Taiwan stood at ~% in the year 2017 in Taiwan and has been increasing rapidly in recent years. This is one of the major factors influencing the Taiwan Online Travel Market as a huge proportion of the population can have access to their websites and can cater to a larger target audience.
Fast and Secure Online Payments: The availability of fast and secure online payment gateway has propelled the growth of the online travel market in Taiwan.
How Taiwan Online Travel Market Is Segmented?
By Category
Taiwan online travel market is dominated by an intermediary with the share of ~% in 2018 in terms of gross transaction value due to the easy availability of the number of third-party websites with delighted offers and wide options as company online sales ed to the direct online sales with a share of ~% in 2018.
By Device:
Desktop travel sales accounted for the highest share of ~% in 2018 in terms of gross transaction value owing to the large screen size with a better visual appearance that facilitates the booking as compared to mobile travel sales. However, the share of mobile booking is growing continuously in the market.
How Is the Competitive Landscape of Online Travel Market in Taiwan?
The online travel industry in Taiwan is experiencing a high level of competition owing to the increasing number of third-party travel websites and applications with growing the demand for customization and seamless travel experience in the country. Competition stage was observed to be highly fragmented along with the presence of major players such as Lion Travel Service Co Ltd, Cola Tours Group, EzTravel Co Ltd, South East Travel Service Co Ltd, Agoda Co Pte Ltd, and other players. Some of the major parameters on the basis of which the online travel companies compete in Taiwan include deals & offers, business strategies, unique visitors’ traffic, and partnerships of the company.
Future Outlook and Projections for Taiwan Online Travel Market
Taiwan online travel market is anticipated to increase from TWD ~ million in 2018 to TWD ~ million by the year ending 2023 in terms of gross transaction value at a CAGR of ~ % during the period 2018-2023E owing to growth in internet and smartphone penetration, increasing urban population and solo trips, rapid technological development, rising tourism expenditure, an increasing number of social media users, growth in the third party travel websites and applications in Taiwan. Growing demand for personalized holiday packages coupled with increasing demand for the long-haul holidays will drive the growth of the online travel market in the near future.
Snapshot on Payment Gateways Market in Taiwan
The market for Taiwan online payment gateways in 2018 was valued at TWD ~ million. Several factors such as high internet penetration, international players entering into the Taiwan market, increased urban population and people opting for online payment methods is majorly contributing towards the market size. The use of credit cards has been continuously growing in Taiwan, credit card payments account for ~% of the total payment methods on an e-commerce website. Increase in cross border e-commerce, cyber threat, internet penetration was some of the major factors that impacted the payment gateways market in Taiwan.
Competitive Scenario in Payment Gateways Market
The market is presently in the growth stage with many people starting to opt for online payment methods and moving towards e-commerce companies. The high rate of internet penetration in the country has further enhanced the competition amongst the players competing in the online payment gateways market. The Online Payment Gateways market in Taiwan is mainly dominated by four companies which are ECPay, NewebPay, Pay2Go and Paypal. These companies contributed to the market share of ~%, ~%, ~% and ~% respectively in terms of revenue in 2018.
Key Segments Covered: –
Online Retail Market
By Product Category Type (Apparel and Footwear, Consumer Electronics, Media Products, Beauty and Personal Care, Consumer Appliances, Consumer Health, Personal Accessories, and Eyewear, Food and Drink, Homewares and Home Furnishings, Traditional Toys and Games, Pet Care, Home Improvement & Gardening, Video Games Hardware, Home Care and Other Internet Retailing)
By Type of Device (Mobile and Desktop)
By Gender (Female and Male)
Online Travel Market
By Categories (Intermediary Online Sales and Direct Online Sales)
By Type of Device (Desktop Travel Sales and Mobile Travel Sales)
By Intermediary Online Sales (OTA Online Sales to Residents and Other Travel Intermediaries Online Sales to Residents)
By Intermediaries Corporate Business Online Sales and Intermediaries Leisure Online Sales
By Direct Online Sales to Residents (Airlines Direct Online Sales, Lodging Direct Online Sales, Car Rental Online Sales, and Other Transport Direct Online Sales)
By Intermediary Corporate Business Online Sales (Air Online Sales Only, Lodging Online Sales Only, Car Rental Online Sales Only, Transport Online Sales Only and Other Online Sales Only)
By Intermediary Leisure Online Sales (Package Holidays Online Sales Only, Air Online Sales Only, Lodging Online Sales Only, Cruise Online Sales Only, Car Rental Online Sales Only, Other Transport Online Sales Only and Other Online Sales Only)
Snapshot on Online Payment Gateways Market
Key Target Audience
Online Retail Companies
Third-Party Websites of Online Retail
Online Travel Companies
Online Payment Gateway Platforms
Government Association
Government Agencies
Private Equity and Venture Capitalist Firms
Time Period Captured in the Report:
Historical Period: 2013-2018
Forecast Period: 2018-2023E
Companies Covered:
Taiwan Online Retail Market:
Momoshop (Fubon Group)
PCHome Online
Sea Ltd. (Shopee)
President Chain Store Corp
Apple Inc
Eastern Media International Corp
Rakuten Inc.
A.S. Watson Retail (HK) Ltd.
Far Eastern Department Stores Ltd
Yahoo! Inc.
Taiwan Online Travel Market:
Lion Travel Service Co. Ltd.
Cola Tours Group
Ez Travel Co. Ltd.
South East Travel Service Co. Ltd.
Agoda Co. Pte Ltd.
Taiwan Payment Gateway Market:
ECPay
NewebPay
PayPal
PayDollar (AsiaPay)
Pay2Go
Key Topics Covered in the Report: –
Internet Retailing in Taiwan
Internet Travel Booking in Taiwan
Major Payment Gateway Platform Taiwan
Major Payment Gateway Platform Taiwan
Major Players in Taiwan Online Retail Market
Major Shopping Websites in Taiwan
Online Payment Gateway Taiwan
Payment Service Providers Taiwan
Taiwan Corporate Travel Booking
Taiwan Leisure Travel Bookings
Taiwan Online Travel Agencies
Taiwan Online Travel Market
Major Travel Booking Sites Taiwan
For More Information on the Research Report, refer to below links: –
Taiwan E-Commerce Industry Growth
Related Reports by Ken Research: –
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
