Dublin, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The "Travel Technologies - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Travel Technologies Market to Reach $10.7 Billion by 2030
The global market for Travel Technologies estimated at US$5.4 Billion in the year 2022, is projected to reach a revised size of US$10.7 Billion by 2030, growing at a CAGR of 8.8% over the analysis period 2022-2030.
The report sheds light on market trends, growth opportunities, and the dynamics influencing the travel technologies industry. It's a valuable resource for businesses operating in or considering entry into this market.
Global Distribution System (GDS), one of the segments analyzed in the report, is projected to record 7.9% CAGR and reach US$7.2 Billion by the end of the analysis period. Growth in the Airline & Hospitality It Solutions segment is estimated at 11% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 10.2% CAGR
This analysis provides an overview of the global travel technologies market, offering insights into annual sales data from 2014 to 2030. It focuses on different geographic regions, including the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
The Travel Technologies market in the U.S. is estimated at US$1.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.6 Billion by the year 2030 trailing a CAGR of 10.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 382 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $5.4 Billion |
| Forecasted Market Value (USD) by 2030 | $10.7 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
- Travel & Tourism Industry Takes a Hit During COVID-19 Pandemic
- COVID-19 Impact on Travel & Tourism Industry: YoY Change (%) of International Tourist Arrivals by Region for 2020 Vs 2019
- International Tourist Receipts (YoY Change in %) for the Period 2010-2021
- Recovery of International Tourism Industry: % of Respondents Citing a Factor Being Critical for Recovery of Tourism Sector
- COVID-19 Outbreak Proves Disastrous for Tourism-Oriented Countries
- Digitalization Augurs Well for the Market
- With Travel Industry Hit Hard by the Crisis, Impact Significant on Travel Technology Market
- Travel Technology Helps Rescue Travel Industry from Overcoming the Pandemic Blues
- An Introduction to Travel Technology
- Global Market Prospects & Outlook
- GDS Emerges as the Largest Segment
- Competition
- Travel Technologies - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- World Brands
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Business Travel Spending Trend: Major Contributor to Growth of Travel Technology Market
- COVID-19 Pandemic Brings Corporate Travel to a Standstill, Impacting Travel Tech Adoption
- Hotel Industry Embraces Next Generation Technologies Amidst the Changing Working Environment
- Digital Transformation Poised to Enhance Traveler Experience
- Popular Technology Trends Transforming Hospitality & Travel Industry
- Growing Role of Innovative Technologies in Travel Industry
- Pandemic-Led Tech Trends Drive Travel Sector Transformation
- Innovations to Fuel Market Prospects
- Rising Integration of Big Data in Travel Technology Solutions
- Growing Role of AI and ML in Travel & Tourism Industry
- Blockchain Technology to Radically Transform Travel Industry
- Mobile Devices: The Preferred Mode for Travel Technologies
- Next-Generation 5G Networks to Benefit Travel Technologies
- Virtual Reality Technology to Transform Tourism Industry with Immersive Experiences
- Augmented Reality Gains Prominence in Travel Industry
- Robotic Process Automation Technology Supports Automation of Repetitive Processes
- Robots to Automate Hospitality Sector
- Biometric Recognition Technologies for Automated Identification and Authentication in Hotels and Payments
- Intelligent Conversational Platforms Emerge as Ideal Solutions for Customer Support in Travel & Tourism Industry
- Rise in Smart Connected Devices Drives Adoption of IoT Technologies in Travel Industry
- As Online Travel Booking Market Takes a Hit due to COVID-19, Travel Technologies Market to be Impacted
- Latest Technologies Emerge to Address Challenges Confronting the Online Travel Industry
- Global Distribution System Market: An Overview
- Smart Hospitality Gathers Steam
- Urbanization, Consumer Spending Levels Set the Tone for Travel & Tourism Technology Market
- Challenges Confronting the Travel Technology Market
FOCUS ON SELECT PLAYERS (Total 83 Featured)
- Accenture PLC
- Amazon Web Services, Inc.
- Emerging Travel Group
- Amadeus IT Group SA
- Fareportal
- BCD Travel
- Booking Holdings Inc.
- Cybage Software Pvt. Ltd.
- Expedia Group
- AltexSoft
- ACL Digital
- American Express Global Business Travel
- eTravos
- Amadeus Hospitality Americas, Inc.
- DerbySoft
For more information about this report visit https://www.researchandmarkets.com/r/hz5sbi
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