Travel technology is an extension of information and communication technology dealing with tourism and hospitality sectors. This technology enables agencies to book flights, tours, transfers, and others. It was majorly related with the airline industry that mostly dealt with computer reservation systems. Currently, the mobile devices are the most preferred medium to use travel technologies.
Increase in business travel expenditure, and usage of social media and big data analytics drives the market growth. However, synchronization issues by booking engines and online travel agencies (OTAs) restrain this growth. A shift towards SaaS-based and hosted solutions presents a major opportunity for market expansion.
The global travel technology market is segmented based on product and region. On the basis of product, it is bifurcated into airline & hospitality IT solutions and global distribution system (GDS). Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market are Amadeus Navitaire, Sabre, Travelport, CRS Technologies, mTrip, Qtech Software, Tramada Systems, PcVoyages 2000, and Lemax.
- The study provides an in-depth analysis of the global travel technology market and current & future trends to elucidate the imminent investment pockets.
- Information about the key drivers, restrains, and opportunities and their impact analysis on the market size are provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2017 to 2023 is provided to determine the market potential.
Travel Technology Market Key Segments:
- Airline & Hospitality IT Solutions
- Global Distribution System (GDS)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled In The Report
- CRS Technologies
- Qtech Software
- Tramada Systems
- PcVoyages 2000