December 2nd, 2022
The Global Travel Technology market was valued at USD 8.44 billion in 2021 and is expected to reach USD 17.91 billion by the year 2028, at a CAGR of 11.35%.
Travel technology is an extended branch of information and communication technology dealing with tourism and hospitality industry. Travel technology helps and guides the agencies to book flights, tours, and other travel facilities. The airline industry is the most used end-user for this technology as it mostly was referring to computer reservation systems. The global Travel Technology equipment market report by IMR provides a comprehensive analysis of the vendor landscape, regional growth opportunities, and the successful product launches by leading players. The market is fragmented by the presence of several regional and international players.
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Travel technology is an extended branch of information and communication technology dealing with tourism and hospitality industry. Travel technology helps and guides the agencies to book flights, tours, and other travel facilities. The airline industry is the most used end-user for this technology as it mostly was referring to computer reservation systems. According to the analyst, increase in business travel expenditure, and usage of social media and big data analytics influences size of Travel technology market growth. However, synchronization issues by booking agencies and online travel agencies are going to hamper the growth of the market. The agencies are leaning towards SaaS-based and hosted solutions which is holding a major growth opportunity for Travel technology market. The “Travel Technology Market” Report provides insightful data on business strategies, top industry trends, growth opportunities, and challenges of top key players. The Travel Technology market report covers market size, share, and growth outlook in terms of CAGR status and revenue estimations. Furthermore, the research report gives details on the import-export scenario, supply-demand scenario, and SWOT analysis over the forecast period.
The Major Players in the Travel Technology Market Include:
Amadeus,Navitaire,Sabre,Travelport,CRS Technologies,mTrip,Qtech Software,Tramada Systems,PcVoyages 2000,Lemax
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Segmentations in the Travel Technology Market Study
The Travel Technology market is segmented as below:
Airline & Hospitality IT Solutions,Global Distribution System (GDS)
By Application :
Travel Industry,Tourism Industry,Hospitality Industry
Geographic Segment Covered in the Report
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
· Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of South America)
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Knowing market share in the base year provides you an idea of the competition and size of the suppliers. It reflects the market's fragmentation, accumulation, dominance, and amalgamation features. The Competitive Scenario provides an outlook study of the suppliers' various industry growth plans. This section's news provides vital insights at various stages while keeping up with the industry and engaging players in the economic discussion. Merger & Acquisition, Collaboration, Partnership, Agreement, Investment & Funding, New Product Launch & Enhancement, Recognition, Rewards & Expansion are the categories that the competitive scenario represents. All of the research data collected helps the vendor identify market gaps as well as competitor weaknesses and strengths, helping them to better their service and product.
Travel Technology Market 2022-2028: Key Highlights
· CAGR of the market during the forecast period 2022-2028
· Detailed information on factors that will assist Travel Technology market growth during the next five years
· Estimation of the Travel Technology market size and its contribution to the parent market
· Predictions on upcoming trends and changes in consumer behavior
· The growth of the Travel Technology market
· Analysis of the market's competitive landscape and detailed information on vendors
· Comprehensive details of factors that will challenge the growth of Travel Technology market vendors
Reasons to Purchase this Market Report:
· Market forecast analysis through recent trends and SWOT analysis
· Travel Technology Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
· Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
· Travel Technology Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
· Competitive environment related to the Travel Technology market share for key players, along with new projects and strategies that players have adopted over the past five years
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