Dublin, Aug. 06, 2024 (GLOBE NEWSWIRE) -- The "Travel Technologies - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Travel Technologies is estimated at US$5.8 Billion in 2023 and is projected to reach US$10.7 Billion by 2030, growing at a CAGR of 9.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the travel technologies market is driven by several factors. Firstly, the increasing demand for personalized and convenient travel experiences is a major driver, with travelers seeking tailored recommendations and seamless booking processes. Secondly, advancements in AI and machine learning are enabling the development of sophisticated tools that enhance customer service and operational efficiency.
Thirdly, the proliferation of mobile applications and the growing preference for contactless solutions are accelerating the adoption of digital travel tools. Additionally, the availability of big data analytics is empowering travel companies to make data-driven decisions and optimize their offerings. Lastly, the need for real-time information and support during travel is propelling the demand for innovative travel technologies that enhance the overall travel experience.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Travel Technologies Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Travel Technologies Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Global Distribution System (GDS) segment, which is expected to reach US$7.2 Billion by 2030 with a CAGR of a 8.0%. The Airline & Hospitality IT Solutions segment is also set to grow at 11.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.5 Billion in 2023, and China, forecasted to grow at an impressive 10.5% CAGR to reach $2.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Accenture PLC, Amazon Web Services, Inc., Emerging Travel Group, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 382 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $5.8 Billion |
| Forecasted Market Value (USD) by 2030 | $10.7 Billion |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | Global |
MARKET OVERVIEW
- An Introduction to Travel Technology
- Global Market Prospects & Outlook
- GDS Emerges as the Largest Segment
- Competition
- Travel Technologies - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- World Brands
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Business Travel Spending Trend: Major Contributor to Growth of Travel Technology Market
- Hotel Industry Embraces Next Generation Technologies Amidst the Changing Working Environment
- Digital Transformation Poised to Enhance Traveler Experience
- Popular Technology Trends Transforming Hospitality & Travel Industry
- Growing Role of Innovative Technologies in Travel Industry
- Pandemic-Led Tech Trends Drive Travel Sector Transformation
- Innovations to Fuel Market Prospects
- Rising Integration of Big Data in Travel Technology Solutions
- Global Big Data and Business Analytics Revenues in US$ Billion for 2020, 2022, 2024 and 2026
- 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
- Global Shipments of Smartphones (in Million Units) for 2020 through 2025
- 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
- Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025
- As Online Travel Booking Market Takes a Hit due to COVID-19, Travel Technologies Market to be Impacted
- Global Online Travel Market Size (in US$ Billion) for the Years 2018, 2022 & 2026
- 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/r1f3cg
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