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%.
Travel technology is an extended branch of information and communication technology dealing with tourism and hospitality industry. Travel technology helps and guides the agencies to book flights, tours, and other travel facilities. The airline industry is the most used end-user for this technology as it mostly was referring to computer reservation systems. According to the analyst, increase in business travel expenditure, and usage of social media and big data analytics influences size of Travel technology market growth. However, synchronization issues by booking agencies and online travel agencies are going to hamper the growth of the market. The agencies are leaning towards SaaS-based and hosted solutions which is holding a major growth opportunity for Travel technology market.
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The latest research on the Global 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, and competitive landscape. In addition, the analysis includes critical information on the Travel Technology Market status of the main market players, major trends, and future market development opportunities.
Leading Key Players Covered Travel Technology Market: –
- CRS Technologies
- Qtech Software
- Tramada Systems
- PcVoyages 2000
- Lemax and other major players.
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The Report Will Contains A Crucial Chapter
- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- Price Trend Analysis
- Investment Analysis
- Company Profiling and Competitive Positioning
- Industry Value Chain Analysis
- Market Dynamics and Factors
- Porter’s Five Forces Analysis
- Pestle Analysis
- SWOT Analysis
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Segmentation of Travel Technology Market: –
- Airline & Hospitality IT Solutions
- Global Distribution System (GDS)
- Travel Industry
- Tourism Industry
- Hospitality Industry
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., 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, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
COVID-19 Impact on The Travel Technology Market
Travel and tourism industry are that was hit by the pandemic majorly and is still recovering from the impact. Due to the lockdown restrictions, all the flights, trains and travel facilities were shut for the safety concerns and due to the impact of corona virus. Hence, there was a negative impact on the travel technology market and the companies are still reeling from the impact.
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