Dublin, March 24, 2022 (GLOBE NEWSWIRE) -- The "Travel Arrangement And Reservation Services Global Market Report 2022 by Type, Mode of Travel, Mode of Booking" report has been added to ResearchAndMarkets.com's offering.
Major companies in the travel arrangement and reservation services market are BCD Travel, Travel Leaders Group, TUI Group, Booking Holdings, Expedia, CWT, Flight Centre Travel Group, TUI Airways, Tripadvisor, Inc. and Shanghai Jin Jiang International Hotels (Group) Company Limited.
The global travel arrangement and reservation services market is expected to grow from $266.34 billion in 2021 to $321.88 billion in 2022 at a compound annual growth rate (CAGR) of 20.9%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $630.38 billion in 2026 at a CAGR of 18.3%.
The travel arrangement and reservation services market consists of sales of travel arrangement and reservation services and related goods by entities (organizations, sole traders and partnerships) that provide travel agency services, arrange and assemble tours or provide other travel arrangement and reservation services.
The main types of travel arrangement and reservation services are travel agencies, tour operators, convention and visitors bureaus, other travel arrangement and reservation services. A travel agency is a company that sells and arranges transportation, lodging, tours, and itineraries for tourists. The different modes of travel include domestic travel, foreign travel and has various booking modes such as online, offline.
Travel agencies and tour operators are increasingly using chat bots to offer personalized travel bookings to customers. A chat bot is an artificial intelligence program that can simulate a conversation with customers through messages or telephone calls and perform tasks such as ticket bookings and hotel reservations.
Chat bots are an alternative to mobile applications and websites that provide personalized recommendations and bookings based on travel preferences and date of travel. For instance, Booking.com allows travellers to book flights and hotels through chat bots on Skype, Facebook Messenger and Slack. Other such chat bots include Dorothy, DoNotPay, Expedia and Air New Zealand's Oscar.
Western Europe was the largest region in the travel arrangement and reservation services market in 2021. Asia Pacific was the second-largest region in the travel arrangement and reservation services market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Scope
Markets Covered:
1) By Type: Travel Agencies; Tour Operators; Convention And Visitors Bureaus; Other Travel Arrangement And Reservation Services
2) By Mode of Travel: Domestic Travel; Foreign Travel
3) By Mode of Booking: Online; Online
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, travel arrangement and reservation services indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- BCD Travel
- Travel Leaders Group
- TUI Group
- Booking Holdings
- Expedia
- CWT
- Flight Centre Travel Group
- TUI Airways
- Tripadvisor Inc.
- Shanghai Jin Jiang International Hotels (Group) Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/6mx8e9
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