Meet Ur Planet

Main Menu

  • Home
  • Plane boarding
  • Tourist guide
  • Hotel accommodation
  • Travel booking
  • Vacation rentals

Meet Ur Planet

Header Banner

Meet Ur Planet

  • Home
  • Plane boarding
  • Tourist guide
  • Hotel accommodation
  • Travel booking
  • Vacation rentals
Travel booking
Home›Travel booking›As the online travel booking market takes a hit due to COVID-19, the travel technology market will be impacted

As the online travel booking market takes a hit due to COVID-19, the travel technology market will be impacted

By Meg P. Sousa
March 25, 2022
0
0

DUBLIN, March 25, 2022 /PRNewswire/ — The “Travel Technologies – Global Market Trajectory & Analytics” report has been added to from ResearchAndMarkets.com offer.

Research and Markets Logo

Global travel technology market to reach $12.5 billion by 2026

Amid COVID-19 crisis, Global Travel Technology Market Estimated at US$8.6 billion in 2020, is expected to reach a revised size of US$12.5 billion by 2026, growing at a CAGR of 6.8% over the analysis period.

Global Distribution System (GDS), one of the segments analyzed in the report, is expected to register a CAGR of 6.1% and reach US$9.1 billion at the end of the analysis period. After an in-depth analysis of the business implications of the pandemic and the economic crisis it induces, the growth of the IT solutions for airlines and hospitality segment is readjusted to a revised CAGR of 8.4% for the next period. 7 years old.

The US market is estimated at $1.7 billion in 2021, when China is expected to reach $1.9 billion by 2026

The US travel technology market is estimated at US$1.7 billion in the year 2021. Chinathe second largest economy in the world, is expected to reach a projected market size of US$1.9 billion by 2026 with a CAGR of 8.2% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 5.8% and 6.2% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 6.5%.

The COVID-19 outbreak has hit the travel and tourism industry, due to travel restrictions, closures and restrictions imposed in various countries affected by the pandemic. The post COVID-19 period will see significant changes in the way people search for vacations.

The disruption in the travel industry is having a significant impact on players operating in the travel technology market, with revenue hitting new lows in recent months. Although the travel and tourism industry faces risks in the form of cancellations and business disruptions amid the ongoing pandemic, the industry is likely to regain some momentum in times to come, thus providing potential growth opportunities for the travel technology market.

The recovery will be driven primarily by essential travel needs, particularly those related to business travel and personal emergencies. Domestic travel is expected to resume faster than international travel, as already seen in China. This will ensure that funds earmarked for overseas travel will now be for local consumption, boosting local economies.

The market will also benefit from the growing use of technologies such as artificial intelligence (AI) and robotic process automation (RPA). RPA makes it easier to automate some repetitive processes, which helps provide better customer service. By automating the booking process, technology saves time.

RPA leverages software bots to run on all systems and applications, to perform repetitive manual and administrative functions, and to make decisions. Using RPS improves the booking process, as the bots are scalable, flexible, affordable and reliable. In addition, RPA’s reporting capabilities make it easier to accurately track, detect, and resolve errors, resulting in dramatic process improvements.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Overview of the influencer market

  • Global Market Trajectories

  • Impact of the COVID-19 pandemic and a looming global recession

  • Impact of COVID-19 on the travel and tourism industry: growth rate (%) of industry revenue in selected countries for 2020 compared to 2019

  • Impact of COVID-19 on the tourism industry: % change in international tourist arrivals by region for 2019 and the first quarter of 2020

  • COVID-19 proves disastrous for tourism-focused countries

  • Countries with maximum vulnerability to the impact of COVID-19 on the tourism industry: Travel and tourism industry as % of GDP by country for 2019

  • Digitization bodes well for the market

  • With the travel industry hit hard by the crisis, the impact is imminent on the travel technology market

  • An introduction to travel technology

  • Global Travel Technology Market: Growth Prospects and Prospects

  • GDS emerges as the largest segment

  • Competetion

  • Recent market activity

  • Travel technologies – Percentage of market share of the main global competitors in 2022 (E)

  • Competitive Market Presence – Strong/Active/Niche/Trivial for Gamers Worldwide in 2022 (E)

2. FOCUS ON CERTAIN PLAYERS (Total 35 Featured)

3. MARKET TRENDS AND DRIVERS

  • Business Travel Spending Trend: Major Contributor to Travel Technology Market Growth

  • COVID-19 Pandemic Halts Business Travel, Impacting Technology Adoption

  • The hospitality industry will embrace next-generation technologies to operate in a changing work environment

  • Popular Technology Trends Transforming the Hospitality and Travel Industry

  • Growing role of innovative technologies in the travel industry

  • Innovations to fuel market insights

  • Growing integration of big data into travel technology solutions

  • Growing role of AI and ML in the travel and tourism industry

  • Blockchain and AI to radically transform the travel industry

  • Mobile devices: the preferred mode of travel technology

  • Next-generation 5G networks for the benefit of travel technologies

  • Virtual reality technology to transform the tourism industry with immersive experiences

  • Augmented reality is gaining prominence in the travel industry

  • Robotic process automation technology supports automating repetitive processes

  • Biometric recognition technologies for automated identification and authentication in hotels and payments

  • Intelligent conversational platforms emerge as ideal solutions for customer support in the travel and tourism industry

  • Rise of Smart Connected Devices Drives Adoption of IoT Technologies in Travel Industry

  • As the online travel booking market takes a hit due to COVID-19, the travel technology market will be impacted

  • Global Distribution Systems Market: An Overview

  • Smart hospitality is gaining momentum

  • Urbanization and consumer spending levels are driving the travel and tourism technology market

4. GLOBAL MARKET OUTLOOK

III. REGIONAL MARKET ANALYSIS

IV. COMPETETION

For more information about this report visit https://www.researchandmarkets.com/r/k00jed

Media Contact:

Research and Markets
Laura Woodsenior
[email protected]

For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900

US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716

Quote

Quote

View original content: https://www.prnewswire.com/news-releases/global-travel-technologies-market-report-2022-2026-as-online-travel-booking-market-takes-a-hit-due – to-covid-19-travel-technologies-market-to-be-impacted-301510935.html

SOURCE Research and Markets

Related posts:

  1. Latest Updated Report 2030 – Murphy’s Law of Hockey
  2. KLM Holidays: simplified travel booking for Belgian customers
  3. Is travel booking ready to fully embrace artificial intelligence?
  4. Travel booking scams emerge as summer vacation season approaches

Categories

  • Hotel accommodation
  • Plane boarding
  • Tourist guide
  • Travel booking
  • Vacation rentals

Recent Posts

  • Ice Poseidon explains his side of the infamous plane crash that led to Twitch’s ban
  • Beware of Claims of Financial Inclusion Amid Cryptocurrency
  • Why the middle seat passenger should have both armrests on the plane
  • Flip-flops and other clothing items that could get you banned from flying
  • Virginia Court Approved $489 Million in Aid for Victims of Illegal Internet Payday Loans

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • March 2018
  • February 2018
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • January 2017
  • December 2016
  • September 2016
  • April 2016
  • March 2016
  • February 2016
  • November 2015
  • October 2015
  • August 2015
  • July 2015
  • June 2015
  • April 2015
  • June 2014
  • April 2014
  • March 2014
  • August 2013
  • July 2013
  • April 2013
  • September 2012
  • March 2012
  • February 2011
  • June 2009
  • Privacy Policy
  • Terms and Conditions