Global Industry Analysis and Forecast 2023 – 2029- Report By Introspective Market Research

Market Overview:

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%.

Information and communication technology’s branch that deals with the travel and leisure sectors is known as travel technology. Booking flights, excursions, and other travel amenities is made easier and more efficient by travel technology. The airline business, which primarily used computerized reservation systems, is the end-user of this technology that is most frequently used. An increase in business travel expenditure and usage of social media and big data analytics influences the size of the Travel technology market growth. New technologies are helping to get us from Point A to Point B more efficiently than ever before. Innovative transportation techs, such as autonomous vehicles and e-bikes, are helping travelers get to wherever they want to go; no matter if it’s just down the block, across the country, or a few hundred miles into outer space.

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The Report Will Include A Major Chapter

• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis

Market Dynamics and Factors:      

An increase in business travel expenditure and the growing adoption of social media platforms and Big Data analytics solutions drives the growth of the travel technology solutions market. Increasing adoption of hosted solutions and Software as a Service (SaaS) is expected to boost the demand for travel technology solutions during the forecast period. The adoption of artificial intelligence in travel technology solutions is anticipated to create business opportunities for travel technology solutions companies to provide advanced solutions based on AI technology to analyze and improve the decision-making process.

In terms of technological developments in the travel industry, smartphones, smart speakers and AI assistants have all contributed to improving the importance of voice search. In particular, voice search is being used by a growing range of travel clients to locate and book plane tickets, hotel rooms, and travel experiences. Therefore, designing the website with voice search in mind is important, so that the organization can capitalize on this trend. In addition to this, voice control also plays an increasing role in real travel encounters as well. Voice-controlled machines can be used inside hotel rooms to monitor lighting and ventilation in rooms or to access visitor information without the need to talk to a staff member. This is also expected to continue to spread into other parts of the travel business as well.

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Top Key Players Covered In The Travel Technology Market:

• Amadeus (Spain)
• Navitaire (UK)
• Sabre (US)
• Travelport (UK)
• CRS Technologies (Canada)
• mTrip (Morocco)
• Qtech Software (India)
• Tramada Systems (Australia)
• Sabre GLBL Inc. (US)
• PcVoyages 2000 (US), and Other Major Players.

Travel Technology Market Report Highlight:

• By Type, the Airline & Hospitality IT Solutions segment is anticipated to lead the growth of the Travel Technology market in the forecasted timeframe. The travel and hospitality industry is one of the flag bearers for digital evolution; from reservations, booking, and payments to track. Using the new wave of innovation, we at ACL Digital focus on enhancing the ease of travel, streamlining the business processes for our partners in travel enterprises (Airlines, Hotels, OTAs, and Travel eCommerce portals), leveraging the latest Design and Digital technologies.
• By Application, the travel industry segment is expected to have the highest share of the Travel Technology market over the projected period. the travel industry is concerned with providing services related to travel from one location to another. This includes services that are directly related to the travel itself, such as transportation, but also includes services related to catering to travelers’ needs and wants after they have arrived at their destination.
• The North American region is expected to have the highest share of the Travel Technology market over the projected period. due to the increasing adoption of advanced travel technology solutions by travel agencies and companies to minimize travel expenditure and the growing demand for the application of real-time changes in travel plans.

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Key Industry Development:

In June 2021, mTrip is partnering up with Daon, to integrate the exciting VeriFLY digital wallet into their mobile app solutions. This leading digital health passport provides travelers with resources and tools to ensure that they are meeting their COVID-19 safety requirements. Features like health questionnaires and diagnostic lab test results, equip travelers with real-time verifications for the health and COVID-related credentials they need.

In December 2020, Qtech Announced expanding its technology portfolio through acquisitions and partnerships and investing in Big Data, AI, and Data Science. That’s where the big data solutions offered by Hotelmize come into play.

Travel Technology Market Segmentation:

By Type

• Airline & Hospitality IT Solutions
• Global Distribution System (GDS)

By Application

• Travel Industry
• Tourism Industry
• Hospitality Industry

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For this report, Introspective Market Research has segmented the Travel Technology Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)

North America

Europe

• Germany
• UK
• France
• Italy
• Russia
• Spain
• Rest Of Europe

Asia Pacific

• China
• India
• Japan
• Singapore
• Australia
• New-Zealand
• Rest of APAC

Middle East & Africa

• Turkey
• Saudi Arabia
• Qatar
• UAE
• Israel
• South Africa

South America

• Brazil
• Argentina
• Rest of SA

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Table of Content:

Chapter 1: Introduction

 1.1 Research Objectives

1.2 Research Methodology

1.3 Research Process

1.4 Scope and Coverage

1.4.1 Market Definition

1.4.2 Key Questions Answered

1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment

3.1 By Type

3.2 By Application

Chapter 4: Market Landscape

 4.1 Porter’s Five Forces Analysis

4.1.1 Bargaining Power of Supplier

4.1.2 Threat of New Entrants

4.1.3 Threat of Substitutes

4.1.4 Competitive Rivalry

4.1.5 Bargaining Power Among Buyers

 4.2 Industry Value Chain Analysis

4.3 Market Dynamics

4.3.1 Drivers

4.3.2 Restraints

4.3.3 Opportunities

4.5.4 Challenges

 4.4 Pestle Analysis

4.5 Technological Roadmap

4.6 Regulatory Landscape

4.7 SWOT Analysis

4.8 Price Trend Analysis

4.9 Patent Analysis

4.10 Analysis of the Impact of Covid-19

4.10.1 Impact on the Overall Market

4.10.2 Impact on the Supply Chain

4.10.3 Impact on the Key Manufacturers

4.10.4 Impact on the Pricing

Chapter 5: Travel Technology Market by Type

5.1 Travel Technology Market Overview Snapshot and Growth Engine

5.2 Travel Technology Market Overview

5.3 Airline & Hospitality IT Solutions

5.3.1 Introduction and Market Overview

5.3.2 Historic and Forecasted Market Size (2016-2028F)

5.3.3 Key Market Trends, Growth Factors and Opportunities

5.3.4 Airline & Hospitality IT Solutions: Grographic Segmentation

5.4 Global Distribution System (GDS)

5.4.1 Introduction and Market Overview

5.4.2 Historic and Forecasted Market Size (2016-2028F)

5.4.3 Key Market Trends, Growth Factors and Opportunities

5.4.4 Global Distribution System (GDS): Grographic Segmentation

Chapter 6: Travel Technology Market by Application

 6.1 Travel Technology Market Overview Snapshot and Growth Engine

6.2 Travel Technology Market Overview

6.3 Travel Industry

  6.3.1 Introduction and Market Overview

6.3.2 Historic and Forecasted Market Size (2016-2028F)

6.3.3 Key Market Trends, Growth Factors and Opportunities

6.3.4 Travel Industry: Grographic Segmentation

6.4 Tourism Industry

6.4.1 Introduction and Market Overview

6.4.2 Historic and Forecasted Market Size (2016-2028F)

6.4.3 Key Market Trends, Growth Factors and Opportunities

6.4.4 Tourism Industry: Grographic Segmentation

6.5 Hospitality Industry

6.5.1 Introduction and Market Overview

6.5.2 Historic and Forecasted Market Size (2016-2028F)

6.5.3 Key Market Trends, Growth Factors and Opportunities

6.5.4 Hospitality Industry: Grographic Segmentation

Chapter 7: Company Profiles and Competitive Analysis

Continued…

Scope of the Report:

The latest research on the Travel Technology market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Travel Technology industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Travel Technology market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.

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