Global Travel Technology Market Set to Reach $14 Billion by 2030 with High Growth in North America and Increasing Demand for Personalized Experiences

Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Travel Technology Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to's offering.

Global Travel Technology Market Poised for Expansion

This analysis covers key industry trends, growth forecasts, and competitive dynamics until 2030. The comprehensive study, spanning more than 150 pages, provides invaluable insights for stakeholders within the travel, tourism, and hospitality sectors. A strong compound annual growth rate (CAGR) of 7.2% from 2024 to 2030 indicates vibrant market health, driven by the evolving preferences of consumers towards online travel booking and the rising demand for customized travel experiences.

Segmentation and Competitive Landscape

Within the report, the market is segmented by type, technology, end use, and region, offering a detailed shipment analysis by value from 2018 to 2030. The findings suggest that airline and hospitality IT solutions, alongside Global Distribution Systems (GDS), will continue to dominate the sector. The integration of advanced technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), Augmented Reality (AR) & Virtual Reality (VR), and Big Data contribute significantly to market growth.

A list of key companies operating in the travel technology space illustrates the competitive nature of the market. These industry leaders are focused on innovation, strategic expansions, and infrastructural developments to optimize service quality and meet growing consumer demands.

Regional Growth Prospects

Among the various global regions analyzed, North America is anticipated to experience the highest growth rate during the forecast period. Factors attributed to this growth include an increase in disposable income and the rapid adoption of digital technology.

  • Travel Technology Market by Type
    1. Airline and Hospitality IT Solutions
    2. Global Distribution System (GDS)
  • Travel Technology Market by Technology
    1. Artificial Intelligence (AI)
    2. Internet of Things (IoT)
    3. Augmented & Virtual Reality (AR & VR)
    4. Big Data
    5. Other Emerging Technologies
  • Travel Technology Market by End Use
    1. Travel Industry
    2. Tourism Industry
    3. Hospitality Industry
  • Travel Technology Market by Region
    1. North America
    2. Europe
    3. Asia Pacific
    4. Rest of the World

The report delves into the facets of customer demand, business strategies, and the overall competitive intensity of the industry. Adapting to the digital transformation and the shifting landscape of consumer preferences will be pivotal for market players maintaining a leading edge.

For stakeholders and businesses looking to understand the trajectory of the travel technology industry, the report provides a solid foundation for informed decision-making and strategic planning.

Market Dynamics and Growth Opportunities

In-depth analysis identifies key factors influencing market dynamics – including industry drivers, challenges, and risks – and uncovers growth opportunities across various regions and segments. The study also showcases emerging trends that are shaping the industry, examining their underpinning reasons and the impact they may have.

Mergers and acquisitions (M&A) activity is highlighted, acknowledging its influence on the sector’s evolution over the past five years. The report is a crucial resource for anyone seeking to comprehend the complex landscape of travel technology and to forecast its future direction.

As the travel technology market is forecasted to grow substantially over the next decade, industry leaders are positioned to capitalize on the technological advancements that are revolutionizing the way the world travels and explores opportunities for growth and innovation.

A selection of companies mentioned in this report includes:

  • mTrip
  • Travelport
  • Tramada Systems
  • Navitaire
  • CRS Technologies
  • Amadeus
  • Sabre

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