Here are some of the key factors that will fuel number of queries on Kayak’s website in the future, according to financial service provider Trefis: 1. Increasing proportion of mobile queries - Currently, Kayak receives over 15% of its total queries through its mobile platform. In Q3 2012, the company registered an 87% y-o-y increase by processing 56 million queries via its mobile applications. Kayak’s application has been downloaded more than 20 million times over mobile devices so far. The company believes that it has a more loyal mobile user base compared to the PC user base. With a growing adoption of mobile devices around the world, a rising number of users are using these devices to access the web. We expect rising mobile queries to accelerate growth in total queries received by Kayak in the future. 2. Expanding global footprint – Kayak receives about 80% of its revenue from the U.S., and has somewhat struggled to retain its foothold in the international markets. Google’s meta-search initiative is considered to be a growing threat for travel queries received by Kayak as it does not have enough of an international presence to take on Google’s global presence. On the other hand, with the acquisition of Booking.com, Agoda and TravelJigsaw, Priceline has managed to successfully expand its presence in international markets. We feel that leveraging Priceline’s marketing expertise and rapidly expanding global footprint can drive Kayak’s growth in international markets. 3. Threat from Google-ITA – Low dependence on queries from search engines: The acquisition of ITA Software by Google poses threat to Kayak’s role as a travel search product. While the acquisition in general poses a major threat to all travel search companies, the fact that ITA currently contributes approximately 39% to Kayak’s total airfare query results makes the company all the more vulnerable. However, over the last year, kayak has significantly reduced its dependence on ITA for airfare query results, from 60% in November 2011 to approximately 39% at present. Get the full story at Trefis