Travel Technology Market Report: Trends, Forecast and Competitive Analysis to 2030

Travel Technology Market Report: Trends, Forecast and Competitive Analysis to 2030

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 population's 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 population's 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?

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