Global Travel Technologies Strategic Business Report 2023: Hotel Industry Embraces Next Generation Technologies Amidst the Changing Working Environment


Dublin, March 16, 2023 (GLOBE NEWSWIRE) -- The "Travel Technologies: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

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.

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.

Taking into account the ongoing post pandemic recovery, growth in the Airline & Hospitality It Solutions segment is readjusted to a revised 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

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.

Select Competitors (Total 83 Featured) -

  • Amadeus IT Group, S.A
  • Navitaire LLC
  • Dolphins Dynamics
  • Expedia Group
  • Kaptio Travel
  • Lemax Ltd
  • mTrip
  • TravelWorks
  • Qtech Software Pvt. Ltd
  • Sabre Corporation
  • Tramada Systems Pty Ltd
  • Travelport Worldwide Ltd.

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages382
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$5.4 Billion
Forecasted Market Value (USD) by 2030$10.7 Billion
Compound Annual Growth Rate8.9%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and Looming Global Recession
  • Living with COVID-19: The New Normal
  • Stagflation and Risk of Recession: New Challenges Emerge for the Global Market in 2022 & 2023
  • 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

2. FOCUS ON SELECT PLAYERS

3. 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
  • Global Business Travel Market Value (in US$ Billion) for the Years 2020 & 2027
  • 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
  • 5G Smartphone Sales in Million Units: 2019-2022
  • 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
  • World Urban Population in Thousands: 1950-2050P
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Challenges Confronting the Travel Technology Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/gk0m8o

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

 
Global Market for Travel Technologies

Contact Data