Global Travel Technology Solutions Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at xx % through 2020 to 2027, reaching US$ XX Mn. The report has covered Country market trends with a competitive landscape.
Global Travel Technology Solutions Market Overview:
Travel technology is an application of information and communication technology in the tourism and hospitality sectors which enables agencies to book flights, tours, transfers and more.The travel solution develops tools and technologies to allow companies to exploit the vast resources of the internet.The travel companies earn more on the increased bookings from the solutions provider. Increased adoption of hosted solutions and Software as a Service (SaaS) is expected to fuel demand for travel technology solutions during the forecast era.For instance, TravelCarmaoffers seamless API integration with all the Global Distribution Systems (GDS) via XML API.
TravelCarma offers a seamless XML API interface which can monitor entire third-party inventory from a single window instead of logging into different systems and shuffling through multiple screens to access live fares.The travel technology solutionsmarket is dignified to witness a beneficial growth in the forecasted years owing to the increased in corporate travel spending with the growing adoption of social media platforms and big data analytics.
The companies are now using travel technology solutionsto minimize costs on modern IP telephony systems.The adoption of artificial intelligence in travel technology solutions is expected to generate market opportunities for travel technology solutions companies to provide innovative solutions based on AI technology to evaluate and enhance decision-making.AI offers digital conversation tools, such as virtual service agents and chatbots, which can directly address the needs of users, thereby improving their overall experience. For instance, Amadeus is a multinational supplier of IT solutions and global delivery networks that provides travel suppliers and travel agencies software solutions for quest, pricing, ticketing, booking and other real-time travel processes. Amadeus provides products in the fields of analytics and intelligence, revenue strategy, customer strategy and payment products.
Based on type,travel technology solutions market is segmented by Global Distribution System (GDS), Airline & Hospitality IT Solutions and Others. Global Distribution System (GDS) dominated travel technology solutions market due to the high frequency band used by airline industry which deals to a large extent with online booking systems. Based on End-User,commercialis the leading segmentto dominate the market during the forecast period due to the rising number of SMEs and to provide better customer service pushing to the market growth.The key drivers are growing fast track digital data and enable to achieve insight into user behaviorwhich motivates market development.
The travel technology solutions market in North America is anticipated to account for the highest revenue share contribution and projected to maintain its dominance in the target market during the forecast period. The attributing factor is due to the presence of major players with theadvance technologies. The Asia Pacific region is projected to register the fastest growth rate in the target market due tosurge in penetration of smartphones and digitalizing the infrastructurein the region.
Global Travel Technology Solutions Market Competitive Landscape:
Travel Technology Solutions Market
The objective of the report is to present a comprehensive analysis of the Global Travel Technology Solutions Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Travel Technology Solutions Market dynamics, structure by analyzing the market segments and projects the Global Travel Technology Solutions Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global Travel Technology Solutions Market make the report investor’s guide.
Scope of Global Travel Technology Solutions Market:
Global Travel Technology Solutions Market, By Type
• Global Distribution System (GDS)
• Airline & Hospitality IT Solutions
Global Travel Technology Solutions Market, By End-User
Global Travel Technology Solutions Market, by Region
• North America
• ME & Africa
• Latin America
Global Travel Technology Solutions Market Key Players
• SABRE GLBL INC.
• CRS TECHNOLOGIES INDIA PVT LTD
• Qtech Software Pvt.Ltd
• Tramada Systems
• Lemax Ltd.
• Expedia, Inc.
• IGT Solutions Pvt. Ltd
• Trawex Technologies Pvt Ltd.
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