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Travel Technology Trends and Forecast
The future of the global travel technology market looks promising with opportunities in the travel, tourism, and hospitality applications. The global travel technology market is expected to reach an estimated $14.0 billion by 2030 with a CAGR of 7.2% from 2024 to 2030. The major drivers for this market are increasing popularity of online travel booking and rising demand for personalized travel experiences.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Travel Technology by Segment
The study includes a forecast for the global travel technology by type, technology, end use, and region.
Travel Technology Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Airline and Hospitality IT Solutions
• Global Distribution System (GDS)
Travel Technology Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
• AI
• IoT
• AR & VR
• Big Data
• Others
Travel Technology Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Travel Industry
• Tourism Industry
• Hospitality Industry
Travel Technology Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Travel Technology Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies travel technology companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the travel technology companies profiled in this report include-
• mTrip
• Travelport
• Tramada Systems
• Navitaire
• CRS Technologies
• Amadeus
• Sabre
• PcVoyages 2000
• Qtech Software
• Lemax
Travel Technology Market Insights
Lucintel forecasts that global distribution system (GDS) will remain the larger segment due to its wide usage by a large number of travel agencies and travel suppliers.
North America is expected to witness highest growth over the forecast period due to rising populationÄX%$%Xs disposable incomes and rapid digitization in the region.
Features of the Global Travel Technology Market
Market Size Estimates: Travel technology market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Travel technology market size by type, technology, end use, and region in terms of value ($B).
Regional Analysis: Travel technology market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, technologies, end uses, and regions for the travel technology market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the travel technology market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the travel technology market size?
Answer: The global travel technology market is expected to reach an estimated $14.0 billion by 2030.
Q2. What is the growth forecast for travel technology market?
Answer: The global travel technology market is expected to grow with a CAGR of 7.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the travel technology market?
Answer: The major drivers for this market are increasing popularity of online travel booking and rising demand for personalized travel experiences.
Q4. What are the major segments for travel technology market?
Answer: The future of the travel technology market looks promising with opportunities in the travel industry, tourism industry, and hospitality industry markets.
Q5. Who are the key travel technology market companies?
Answer: Some of the key travel technology companies are as follows:
• mTrip
• Travelport
• Tramada Systems
• Navitaire
• CRS Technologies
• Amadeus
• Sabre
• PcVoyages 2000
• Qtech Software
• Lemax
Q6. Which travel technology market segment will be the largest in future?
Answer: Lucintel forecasts that global distribution system (GDS) will remain the larger segment due to its wide usage by a large number of travel agencies and travel suppliers.
Q7. In travel technology market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to rising populationÄX%$%Xs disposable incomes and rapid digitization in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the travel technology market by type (airline and hospitality IT solutions and global distribution system (GDS)), technology (AI, IoT, AR & VR, big data, and others), end use (travel industry, tourism industry, and hospitality industry), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Travel Technology Market, Travel Technology Market Size, Travel Technology Market Growth, Travel Technology Market Analysis, Travel Technology Market Report, Travel Technology Market Share, Travel Technology Market Trends, Travel Technology Market Forecast, Travel Technology Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Travel Technology Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Travel Technology Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Travel Technology Market by Type
3.3.1: Airline and Hospitality IT Solutions
3.3.2: Global Distribution System (GDS)
3.4: Global Travel Technology Market by Technology
3.4.1: AI
3.4.2: IoT
3.4.3: AR & VR
3.4.4: Big Data
3.4.5: Others
3.5: Global Travel Technology Market by End Use
3.5.1: Travel Industry
3.5.2: Tourism Industry
3.5.3: Hospitality Industry
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Travel Technology Market by Region
4.2: North American Travel Technology Market
4.2.2: North American Travel Technology Market by End Use: Travel Industry, Tourism Industry, and Hospitality Industry
4.3: European Travel Technology Market
4.3.1: European Travel Technology Market by Type: Airline and Hospitality IT Solutions and Global Distribution System (GDS)
4.3.2: European Travel Technology Market by End Use: Travel Industry, Tourism Industry, and Hospitality Industry
4.4: APAC Travel Technology Market
4.4.1: APAC Travel Technology Market by Type: Airline and Hospitality IT Solutions and Global Distribution System (GDS)
4.4.2: APAC Travel Technology Market by End Use: Travel Industry, Tourism Industry, and Hospitality Industry
4.5: ROW Travel Technology Market
4.5.1: ROW Travel Technology Market by Type: Airline and Hospitality IT Solutions and Global Distribution System (GDS)
4.5.2: ROW Travel Technology Market by End Use: Travel Industry, Tourism Industry, and Hospitality Industry
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Travel Technology Market by Type
6.1.2: Growth Opportunities for the Global Travel Technology Market by Technology
6.1.3: Growth Opportunities for the Global Travel Technology Market by End Use
6.1.4: Growth Opportunities for the Global Travel Technology Market by Region
6.2: Emerging Trends in the Global Travel Technology Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Travel Technology Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Travel Technology Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: mTrip
7.2: Travelport
7.3: Tramada Systems
7.4: Navitaire
7.5: CRS Technologies
7.6: Amadeus
7.7: Sabre
7.8: PcVoyages 2000
7.9: Qtech Software
7.10: Lemax
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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