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Travel Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

September 2023 | 145 pages | ID: T942208F7E49EN
IMARC Group

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Market Overview:

The global travel technology market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.

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.

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 2023-2028. Our report has categorized the market based on product type and application.

Breakup by Product Type:

Airline & Hospitality IT Solutions
Global Distribution System (GDS)

Breakup by Application:

Travel Industry
Tourism Industry
Hospitality Industry

Breakup by Region:

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.

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

2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
  2.3.1Primary Sources
  2.3.2Secondary Sources
2.4Market Estimation
  2.4.1Bottom-Up Approach
  2.4.2Top-Down Approach
2.5Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1Overview
4.2Key Industry Trends

5 GLOBAL TRAVEL TECHNOLOGY MARKET

5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast

6 MARKET BREAKUP BY PRODUCT TYPE

6.1Airline & Hospitality IT Solutions
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2Global Distribution System (GDS)
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY APPLICATION

7.1Travel Industry
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2Tourism Industry
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3Hospitality Industry
  7.3.1 Market Trends
  7.3.2 Market Forecast

8 MARKET BREAKUP BY REGION

8.1North 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
8.2Asia 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
8.3Europe
  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
8.4Latin 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
8.5Middle East and Africa
  8.5.1 Market Trends
  8.5.2 Market Breakup by Country
  8.5.3 Market Forecast

9 SWOT ANALYSIS

9.1Overview
9.2Strengths
9.3Weaknesses
9.4Opportunities
9.5Threats

10 VALUE CHAIN ANALYSIS

11 PORTERS FIVE FORCES ANALYSIS

11.1Overview
11.2Bargaining Power of Buyers
11.3Bargaining Power of Suppliers
11.4Degree of Competition
11.5Threat of New Entrants
11.6Threat of Substitutes

12 PRICE INDICATORS

13 COMPETITIVE LANDSCAPE

13.1Market Structure
13.2Key Players
13.3Profiles of Key Players
  13.3.1Amadeus IT Group SA
    13.3.1.1 Company Overview
    13.3.1.2 Product Portfolio
    13.3.1.3 Financials
  13.3.2CRS Technologies India Pvt Ltd
    13.3.2.1 Company Overview
    13.3.2.2 Product Portfolio
  13.3.3Lemax
    13.3.3.1 Company Overview
    13.3.3.2 Product Portfolio
  13.3.4mTrip
    13.3.4.1 Company Overview
    13.3.4.2 Product Portfolio
  13.3.5Navitaire LLC
    13.3.5.1 Company Overview
    13.3.5.2 Product Portfolio
  13.3.6Qtech Software Private Limited
    13.3.6.1 Company Overview
    13.3.6.2 Product Portfolio
  13.3.7Sabre Corporation
    13.3.7.1 Company Overview
    13.3.7.2 Product Portfolio
    13.3.7.3 Financials
    13.3.7.4 SWOT Analysis
  13.3.8Tramada Systems Pty Ltd
    13.3.8.1 Company Overview
    13.3.8.2 Product Portfolio
  13.3.9Travelport International Limited
    13.3.9.1 Company Overview
    13.3.9.2 Product Portfolio
    13.3.9.3 Financials

LIST OF TABLES

Table 1: Global: Travel Technology Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Travel Technology Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 3: Global: Travel Technology Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Travel Technology Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Travel Technology Market: Competitive Structure
Table 6: Global: Travel Technology Market: Key Players

LIST OF FIGURES

Figure 1: Global: Travel Technology Market: Major Drivers and Challenges
Figure 2: Global: Travel Technology Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Travel Technology Market: Breakup by Product Type (in %), 2022
Figure 4: Global: Travel Technology Market: Breakup by Application (in %), 2022
Figure 5: Global: Travel Technology Market: Breakup by Region (in %), 2022
Figure 6: Global: Travel Technology Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Global: Travel Technology (Airline & Hospitality IT Solutions) Market: Sales Value (in Million US$), 2017 & 2022
Figure 8: Global: Travel Technology (Airline & Hospitality IT Solutions) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 9: Global: Travel Technology (Global Distribution System) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Travel Technology (Global Distribution System) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Travel Technology (Travel Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Travel Technology (Travel Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Travel Technology (Tourism Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Travel Technology (Tourism Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Travel Technology (Hospitality Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Travel Technology (Hospitality Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: North America: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: North America: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: United States: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: United States: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Canada: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Canada: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Asia Pacific: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Asia Pacific: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: China: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: China: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Japan: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Japan: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: India: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: India: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: South Korea: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: South Korea: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Australia: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Australia: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Indonesia: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Indonesia: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Others: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Others: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Europe: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Europe: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Germany: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Germany: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: France: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: France: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: United Kingdom: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: United Kingdom: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Italy: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Italy: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Spain: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Spain: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Russia: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Russia: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Others: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Others: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Latin America: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Latin America: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Brazil: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Brazil: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Mexico: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Mexico: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Others: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Others: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Middle East and Africa: Travel Technology Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Middle East and Africa: Travel Technology Market Forecast: Sales Value (in Million US$), 2023-2028
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


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