LONDON–(BUSINESS WIRE)–#ConsumerDiscretionary–The agritourism market size is expected to post a CAGR close to 18% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The trend of instant bookings has positively impacted the global agritourism market growth in recent years as such booking processes are associated with minimal or zero wait time. Also, online agritourism sites facilitate real-time booking, which will improve the convenience of booking agricultural tours and contribute to increased customer satisfaction. Moreover, the advent of social media and the effective sharing of customer reviews have contributed to a surge in online bookings.
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As per Technavio, technological advancements will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Agritourism Market: Technological advancements
Technological advancements positively impact the vendors in the global agritourism market as such improvements help to expand their customer base. Technological advances have enabled vendors to enhance their booking portals in terms of design, in a bid to attract customers and expand their customer base.
The owners of agricultural properties, on the other hand, have been investing in smart safety devices and monitoring systems, which can detect intrusion and issue timely alerts. Also, they are investing in technologies, which assist them in securing and streamlining their business operations. The installation of Wi-Fi locks or electronic locks further helps in attracting security-conscious travelers to consider farm stays and other agricultural tourist places as potential accommodation.
“The growth of the travel and tourism industry in Europe is contributing to the growth of the agritourism market in the region. In addition, increased customer awareness, the presence of several established players, and technological advancements will drive the growth of the agritourism market in this region over the coming years,” says a senior analyst at Technavio.
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Agritourism Market: Segmentation Analysis
This market research report segments the agritourism market by type (domestic and international) and geography (APAC, Europe, North America, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The dominance of North America can be attributed to the increased inclination toward experiencing the rural heritage and culture.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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