Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Travel Technologies market. Market segmentation includes Segment (Global Distribution System (GDS), and Airline & Hospitality IT Solutions).
Over the years, the travel market has become technology-oriented, increasingly leveraging various sophisticated technologies. Travel technology allows agencies to book tours, flights, and transfers, among others. It enables the automation of booking and tracking tours, hotels, and flights, and facilitates a common interface for connecting travel agents and customers. It helps in creating personalized itineraries, obtaining the most relevant schedules and prices, providing users travel advice, and travel insurance management, among others. At present, mobile devices are the highly preferred platform for using travel technologies. Service providers leverage emerging technologies to improve experience of customers and their loyalty. The goal for efficient operation is fueled by the significant growth in travelers and the rise in customer expectations. With growing affordability and rising disposable incomes, air travel has grown exponentially in the last few years, resulting in considerable increase in the number of airlines. The global travel technologies market has been witnessing growth supported by the rising use of technologies such as artificial intelligence (AI) and robotic process automation (RPA). RPA facilitates the automation of certain repetitive processes, which enables in offering improved customer service. Through the automation of the booking process, the technology offers time savings. RPA leverages software bots to function across systems and applications, to carry out repetitive manual and administrative functions and perform decision making. The use of RPS enhances the booking process, as the bots are scalable, flexible, affordable, and reliable. Also, RPA's reporting capabilities facilitate accurate tracking, detection and resolution of errors, which lead to considerable improvement in processes. The market is also witnessing the implementation of Big Data and ML in products, and the potential use of blockchain. The security protocols in blockchain could facilitate seamless and safe travel across borders. However, the market is being hampered by issues related to synchronization by online travel agencies and booking engines. A transition to hosted and SaaS-based systems are likely to offer growth opportunities for the market.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 597. Among this pool, 119 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 24 unique participations, a total of 12 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Key Competitors Covered in the Report -
Amadeus IT Group SA
Dolphin Dynamics Ltd.
ecare Technology Labs Pvt. Ltd.
Experts Travel Services
Fourth Dimension Software
Qtech Software Pvt. Ltd.
Technoheaven Consultancy Pvt., Ltd.
Tramada Systems Pty., Ltd.
Segments Covered in the Report -
Segment (Global Distribution System (GDS), Airline & Hospitality IT Solutions)
Geographies Analyzed in the Report -
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
Rest of Middle East
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.