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Dublin, March 16, 2023 (GLOBE NEWSWIRE) — The “Travel Technologies: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Travel Technologies estimated at US$5.4 Billion in the year 2022, is projected to reach a revised size of US$10.7 Billion by 2030, growing at a CAGR of 8.8% over the analysis period 2022-2030.
Global Distribution System (GDS), one of the segments analyzed in the report, is projected to record 7.9% CAGR and reach US$7.2 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Airline & Hospitality It Solutions segment is readjusted to a revised 11% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 10.2% CAGR
The Travel Technologies market in the U.S. is estimated at US$1.4 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$2.6 Billion by the year 2030 trailing a CAGR of 10.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.
Select Competitors (Total 83 Featured) –
- Amadeus IT Group, S.A
- Navitaire LLC
- Dolphins Dynamics
- Expedia Group
- Kaptio Travel
- Lemax Ltd
- mTrip
- TravelWorks
- Qtech Software Pvt. Ltd
- Sabre Corporation
- Tramada Systems Pty Ltd
- Travelport Worldwide Ltd.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 382 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $5.4 Billion |
| Forecasted Market Value (USD) by 2030 | $10.7 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- Living with COVID-19: The New Normal
- Stagflation and Risk of Recession: New Challenges Emerge for the Global Market in 2022 & 2023
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
- Travel & Tourism Industry Takes a Hit During COVID-19 Pandemic
- COVID-19 Impact on Travel & Tourism Industry: YoY Change (%) of International Tourist Arrivals by Region for 2020 Vs 2019
- International Tourist Receipts (YoY Change in %) for the Period 2010-2021
- Recovery of International Tourism Industry: % of Respondents Citing a Factor Being Critical for Recovery of Tourism Sector
- COVID-19 Outbreak Proves Disastrous for Tourism-Oriented Countries
- Digitalization Augurs Well for the Market
- With Travel Industry Hit Hard by the Crisis, Impact Significant on Travel Technology Market
- Travel Technology Helps Rescue Travel Industry from Overcoming the Pandemic Blues
- An Introduction to Travel Technology
- Global Market Prospects & Outlook
- GDS Emerges as the Largest Segment
- Competition
- Travel Technologies – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Business Travel Spending Trend: Major Contributor to Growth of Travel Technology Market
- COVID-19 Pandemic Brings Corporate Travel to a Standstill, Impacting Travel Tech Adoption
- Global Business Travel Market Value (in US$ Billion) for the Years 2020 & 2027
- Hotel Industry Embraces Next Generation Technologies Amidst the Changing Working Environment
- Digital Transformation Poised to Enhance Traveler Experience
- Popular Technology Trends Transforming Hospitality & Travel Industry
- Growing Role of Innovative Technologies in Travel Industry
- Pandemic-Led Tech Trends Drive Travel Sector Transformation
- Innovations to Fuel Market Prospects
- Rising Integration of Big Data in Travel Technology Solutions
- Global Big Data and Business Analytics Revenues in US$ Billion for 2020, 2022, 2024 and 2026
- Growing Role of AI and ML in Travel & Tourism Industry
- Blockchain Technology to Radically Transform Travel Industry
- Mobile Devices: The Preferred Mode for Travel Technologies
- Global Shipments of Smartphones (in Million Units) for 2020 through 2025
- Next-Generation 5G Networks to Benefit Travel Technologies
- 5G Smartphone Sales in Million Units: 2019-2022
- Virtual Reality Technology to Transform Tourism Industry with Immersive Experiences
- Augmented Reality Gains Prominence in Travel Industry
- Robotic Process Automation Technology Supports Automation of Repetitive Processes
- Robots to Automate Hospitality Sector
- Biometric Recognition Technologies for Automated Identification and Authentication in Hotels and Payments
- Intelligent Conversational Platforms Emerge as Ideal Solutions for Customer Support in Travel & Tourism Industry
- Rise in Smart Connected Devices Drives Adoption of IoT Technologies in Travel Industry
- Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025
- As Online Travel Booking Market Takes a Hit due to COVID-19, Travel Technologies Market to be Impacted
- Global Online Travel Market Size (in US$ Billion) for the Years 2018, 2022 & 2026
- Latest Technologies Emerge to Address Challenges Confronting the Online Travel Industry
- Global Distribution System Market: An Overview
- Smart Hospitality Gathers Steam
- Urbanization, Consumer Spending Levels Set the Tone for Travel & Tourism Technology Market
- World Urban Population in Thousands: 1950-2050P
- Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
- Challenges Confronting the Travel Technology Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/gk0m8o
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