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Press Release:

Global Travel Technology Market to Grow at 7.77% During 2022-2027, Impelled by Significant Growth in Tourism Sector

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Travel Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global travel technology market size reached US$ 8.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2027, exhibiting a growth rate (CAGR) of 7.77% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Travel technology refers to the integration of information and communication technology in the travel, tourism and hospitality industry. It allows organizations to automate various processes, such as booking and tracking flights, hotels, tours and enable a common interface to connect travel agents with the consumers. It also aids in creating customized itineraries, finding the most suitable prices and schedules, converting currency, managing travel insurance and offering travel advice to the user.

 

 
 

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Significant growth in the travel and tourism sector, along with the rising need for automation across industries, is among the key factors driving the market. Furthermore, widespread adoption of artificial intelligence (AI) and SaaS-based models are also providing a boost to the market growth. For instance, organizations are increasingly employing robotic process automation (RPA) to streamline and automatically process applications, manage bookings and paperwork to minimize human errors. Also, AI provides interactive conversational platforms, such as virtual support agents and chatbots, that can directly address the consumer’s requirements, thereby enhancing their overall experience. Additionally, various technological advancements, including the employment of recognition technologies and the integration with the Internet of Things (IoT) and the adoption of smart devices, are also creating a positive impact on the market growth. Various fingerprint and facial recognition systems are employed in hotels and other public spaces to automate check-in, check-out and payment processes. Other factors, including rapid urbanization, increasing consumer expenditure capacities and extensive research and development (R&D) activities, are projected to drive the market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global travel technology market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type and application.

Breakup by Product Type:

 

 
 

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

Breakup by Application:

  • Travel Industry
  • Tourism Industry
  • Hospitality Industry
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Amadeus IT Group SA, CRS Technologies India Pvt Ltd, Lemax, mTrip, Navitaire LLC, Qtech Software Private Limited, Sabre Corporation, Tramada Systems Pty Ltd, Travelport International Limited, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product Type, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amadeus IT Group SA, CRS Technologies India Pvt Ltd, Lemax, mTrip, Navitaire LLC, Qtech Software Private Limited, Sabre Corporation, Tramada Systems Pty Ltd and Travelport International Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Questions Answered in This Report:

  • How has the global travel technology market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What has been the impact of COVID-19 on the global travel technology market?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global travel technology market and who are the key players?
  • What is the degree of competition in the industry?

1   Preface
2   Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Travel Technology Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Product Type
    6.1    Airline & Hospitality IT Solutions
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Global Distribution System (GDS)
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Application
    7.1    Travel Industry
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Tourism Industry
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Hospitality Industry
        7.3.1 Market Trends
        7.3.2 Market Forecast
8   Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9   SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10  Value Chain Analysis
11  Porters Five Forces Analysis
    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12  Price Indicators
13  Competitive Landscape
    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    Amadeus IT Group SA
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio
           13.3.1.3 Financials
        13.3.2    CRS Technologies India Pvt Ltd
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
        13.3.3    Lemax
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio
        13.3.4    mTrip
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio
        13.3.5    Navitaire LLC
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio
        13.3.6    Qtech Software Private Limited
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
        13.3.7    Sabre Corporation
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio
           13.3.7.3 Financials
           13.3.7.4 SWOT Analysis
        13.3.8    Tramada Systems Pty Ltd
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
        13.3.9    Travelport International Limited
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio
           13.3.9.3 Financials

List of Figures

Figure 1: Global: Travel Technology Market: Major Drivers and Challenges
Figure 2: Global: Travel Technology Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Travel Technology Market: Breakup by Product Type (in %), 2021
Figure 4: Global: Travel Technology Market: Breakup by Application (in %), 2021
Figure 5: Global: Travel Technology Market: Breakup by Region (in %), 2021
Figure 6: Global: Travel Technology Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 7: Global: Travel Technology (Airline & Hospitality IT Solutions) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Travel Technology (Airline & Hospitality IT Solutions) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Travel Technology (Global Distribution System) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Travel Technology (Global Distribution System) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Travel Technology (Travel Industry) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Travel Technology (Travel Industry) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Travel Technology (Tourism Industry) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Travel Technology (Tourism Industry) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Travel Technology (Hospitality Industry) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Travel Technology (Hospitality Industry) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: North America: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: North America: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: United States: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: United States: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Canada: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Canada: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Asia Pacific: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Asia Pacific: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: China: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: China: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Japan: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Japan: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: India: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: India: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: South Korea: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: South Korea: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Australia: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Australia: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Indonesia: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Indonesia: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Others: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Others: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Europe: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Europe: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Germany: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Germany: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: France: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: France: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: United Kingdom: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: United Kingdom: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Italy: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Italy: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Spain: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Spain: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Russia: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Russia: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Others: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Others: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Latin America: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Latin America: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Brazil: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Brazil: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Mexico: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Mexico: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Others: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Others: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Middle East and Africa: Travel Technology Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Middle East and Africa: Travel Technology Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Global: Travel Technology Industry: SWOT Analysis
Figure 66: Global: Travel Technology Industry: Value Chain Analysis
Figure 67: Global: Travel Technology Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Travel Technology Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Travel Technology Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 3: Global: Travel Technology Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Travel Technology Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Travel Technology Market: Competitive Structure
Table 6: Global: Travel Technology Market: Key Players


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