Growth of China's Online Travel Market Decelerated in Q3 2017Source:iResearch
January 05,20183:01 PM
Thanks to the peak season for travel, the GMV of China’s online travel market reached 209.6 billion Yuan in Q3 2017, rising 18.9% from the preceding quarter, and the YoY growth dropped significantly to 24.0% compared with 34.9% in Q3 2016, which was the lowest over the past two years. iResearch holds the opinion that as the head space is divided by oligopoly enterprises, there will be less development room for the other companies. As a result, the growth of the market will slow down.
The revenue of China’s online travel agencies (OTAs) hit 165.5 billion Yuan in Q3 2017, up 26.1% from the corresponding period of the previous year, but far less than the YoY growth of 39.2% in Q3 2016 and 51.5% in Q3 2015. and China’s OTA market maintained the YoY growth between 26% and 28% from Q1 to Q3 2017. iReseach believes that the explosive period for China’s OTA market has gone, and with further expanding and development of non-OTA companies in different segments of online travel market, the OTA market will enter into a period of steady development.
The data from mUserTracker, an mobile internet measuring product launched by iResearch, the online travel market can be divided into three echelons by monthly active devices. 12306, Ctrip and Qunar with over 40 million monthly active devices were ranked in the first echelon for a long period of time. The second echelon mainly include Tuniu, LY, Fliggy, Gaotieguanjia and other online travel enterprises and ticket-booking enterprises, with over 5 million monthly active devices, and the third echelon mainly include lvmama, eLong, Umetrip and other enterprises with less than 5 million monthly active devices.
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