All signs point to a dynamic and highly competitive travel marketplace in 2008 according to the annual travel industry trend list released today by PhoCusWright. Investment from private equity, consolidation among suppliers and new entrants from "Travel 2.0" technology firms will continue to transform the industry, according to the report.Here are the top trends predicted to change the industry in 2008:Mobile Gets ConnectedFinally!: Industry pundits have been touting the promise of mobile travel for years, and 2008 will be the year that promise is realized, according to the report. Consolidation Continues: Consolidation often comes along with periods of travel industry innovation, and 2008 will be a model year for both. Likely consolidation targets include areas where multiple service providers offer undifferentiated services and where growth is stagnating, emerging markets such as India where successful travel startups are likely to be gobbled up by larger fish and niche sectors that require mergers in order to reach critical mass.Social and E-Commerce Approaches Converge: Online social media and e-commerce will convergebut not without a few growing pains. The marketing potential of these networks makes their commercialization inevitable. Metasearch Comes of Age: Just when some had started to question whether metasearch would ever live up to the hype, 2008 may see this technology getting the jolt it needs to go mainstream. Innovative new entrants such as Farecast and the planned merger of Kayak and Sidestep are likely to provide the increased press and consolidated consumer power that metasearch needs, according to the report.Media-Based Pricing Shakes Things Up: PhoCusWright wondered in previous years why online travel agencies didn't adapt their business models in order to capitalize on all their search traffic. In late 2007, Expedia took a bold first step, announcing a new pricing model that blends transaction pricing with media pricing. Other online travel agencies will be watching Expedia's business model experimentation closelydon't be surprised to see a second online travel agency making a similar move in the coming year, according to the report.