Online travel agencies IT spending market size to grow by USD 1.73 billion between 2021 and 2026; Amadeus IT Group SA, DirectVision SRL, among others identified as key vendors - Technavio

NEW YORK, March 14, 2023 /PRNewswire/ -- The global online travel agencies IT spending market size is estimated to grow by USD 1.73 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 15.22% during the forecast period. The growth of the market is driven by factors such as increasing internet and smartphone penetration, increasing consolidation of online travel agencies, and differential packaging methods used by vendors. For more insights on the market size (2022 to 2026) - Request a sample report

The growth of the market is driven by the increasing internet and smartphone penetration. Governments in developed and developing countries are taking various initiatives to increase the accessibility of the internet to citizens. In addition, the rising adoption of smartphones has increased the number of internet users. This has encouraged online travel companies to launch innovative and user-friendly mobile applications to attract more customers. Some travel companies are partnering with mobile phone companies to provide special edition apps and offers for customers. All these factors are driving the growth of the market.

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Global Online Travel Agencies IT spending Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (software spending, IT services spending, and hardware spending) and geography (North America, Europe, APAC, South America, and MEA). 

• The growth of the market in the software spending segment will be significant during the forecast period. Many travel enterprises are adopting cloud-based IT solutions to reduce costs, improve flexibility, enhance customer service, and adopt advanced technologies. This is increasing the adoption of spending on software solutions for marketing, selling, serving, and operating functions among enterprises. These factors are driving the growth of the segment.

Geography Overview
By geography, the global online travel agencies IT spending market is segmented into North America, Europe, APAC, South America, and MEA. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online travel agencies IT spending market.

• North America will account for 39% of the market growth during the forecast period. Expanding baby boomer population, increasing significant growth in disposable incomes, and increasing expenditures in leisure and traveling activities are driving the growth of the regional market.

Insights on the market contribution of various segments including country and region wise and forecast market size (2022 to 2026) - Download a Sample Report

Global Online Travel Agencies IT spending Market – Market Dynamics

Leading trends influencing the market 

• The increasing adoption of online payment platforms is the key trend in the market.
• Online payments are increasingly becoming popular among consumers.
• Banks and financial institutions are securing their websites with secure socket layer certificates to benefit their customers.
• Search engines such as Google continuously provide updates to create awareness among online users about the security offered by various websites and web pages.
• All these factors are increasing the number of online transactions worldwide, which is expected to have a positive impact on market growth.

Major challenges hindering the market growth

• Disruptions in travel demand is identified as the major challenge affecting the growth of the market.
• Disruptions in travel happen due to various factors such as increase in airline pricing, hotel pricing, and natural calamities.
• Many customers book tickets and other amenities, and later cancel these services due to various reasons.
• During natural calamities, local governments impose restrictions on traveling.
• Such instances create significant losses to vendors and negatively impact market growth.

Insights on Market Drivers, Trends, & Challenges, and forecast period (2022 to 2026) - Request a sample report!

What are the key data covered in this online travel agencies IT spending market report

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the online travel agencies IT spending market between 2022 and 2026
• Precise estimation of the size of the online travel agencies IT spending market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the online travel agencies IT spending market industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of online travel agencies IT spending market vendors

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Browse through Technavio's Information Technology Market Reports, ToC & LoE

Table of contents:

1. Executive Summary 

  1.1  Market Overview 

  Exhibit 01:  Key Finding 1

  Exhibit 02:  Key Finding 2

  Exhibit 03:  Key Finding 3

  Exhibit 04:  Key Finding 5

  Exhibit 05:  Key Finding 6

  Exhibit 06:  Key Finding 7

  Exhibit 07:  Key Finding 8

2. Market Landscape

  2.1 Market ecosystem 

  2.1.1 Parent Market

  Exhibit 08  Parent market

  Exhibit 09:  Market characteristics

  2.2 Value Chain Analysis 

  Exhibit 10:  Value Chain Analysis: IT consulting and other services

  2.2.1  Inputs

  2.2.2  Operations

  2.2.3  Marketing and sales

  2.2.4  Service

  2.2.5  Support activities

  2.2.6  Innovations

3. Market Sizing 

  3.1 Market definition

  Exhibit 11:  Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 12:  Market segments

  3.3 Market size 2021 

  3.4 Market outlook: Forecast for 2021 - 2026 

  Exhibit 13:  Global - Market size and forecast 2021 - 2026 ($ million)

  Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 15:  Five forces analysis 2021 - 2026

  4.2 Bargaining power of buyers 

    Exhibit 16: Bargaining power of the buyer

  4.3 Bargaining power of suppliers 

  Exhibit 17: Bargaining power of the supplier

  4.4 Threat of new entrants 

  Exhibit 18: Threat of new entrants

  4.5 Threat of substitutes 

  Exhibit 19: Threat of substitutes

  4.6 Threat of rivalry 

  Exhibit 20: Threat of rivalry

  4.7 Market condition

  Exhibit 21: Market condition - Five forces 2021

5. Market Segmentation by Type

  5.1 Market segments

  Exhibit 22:  TypeMarket share 2021 - 2026 (%)

  5.2 Comparison by  Type 

  Exhibit 23:  Comparison by  Type

  5.3 Software spending - Market size and forecast 2021-2026 

  Exhibit 24:  Software spending  - Market size and forecast 2021-2026 ($ million)

  Exhibit 25:  Software spending - Year-over-year growth 2021-2026 (%)

  5.4 IT services spending - Market size and forecast 2021-2026 

  Exhibit 26: IT services spending - Market size and forecast 2021-2026 ($ million)

  Exhibit 27:  IT services spending - Year-over-year growth 2021-2026 (%)

  5.5 Hardware spending - Market size and forecast 2021-2026 

  Exhibit 28: Hardware spending- Market size and forecast 2021-2026 ($ million)

  Exhibit 29:  Hardware spending Year-over-year growth 2021-2026 (%)

  5.6 Market opportunity by Type 

  Exhibit 30:  Market opportunity by Type

6. Customer landscape 

  Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

  6.1 Overview

  Exhibit 31:  Customer landscape

7. Geographic Landscape 

  7.1 Geographic segmentation

  Exhibit 32:  Market share by geography 2021-2026 (%)

  7.2 Geographic comparison 

  Exhibit 33:  Geographic comparison

  7.3 North America - Market size and forecast 2021-2026 

  Exhibit 34:  North America - Market size and forecast 2021-2026($ million)

  Exhibit 35:  North America - Year-over-year growth 2021-2026 (%)

  7.4 Europe- Market size and forecast 2021-2026 

  Exhibit 36:  Europe - Market size and forecast 2021-2026 ($ million)

  Exhibit 37: Europe - Year-over-year growth 2021-2026(%)

  7.5 APAC- Market size and forecast 2021-2026 

  Exhibit 38:  APAC - Market size and forecast 2021-2026 ($ million)

  Exhibit 39:  APAC- Year-over-year growth 2021-2026 (%)

  7.6 South America - Market size and forecast 2021-2026 

  Exhibit 40:  South America - Market size and forecast 2021-2026 ($ million)

  Exhibit 41:  South America - Year-over-year growth 2021-2026 (%)

  7.7  MEA- Market size and forecast 2021-2026 

  Exhibit 42: MEA  - Market size and forecast 2021-2026 ($ million)

  Exhibit 43:  MEA  - Year-over-year growth 2021-2026 (%)

  7.8 Key leading countries 

  Exhibit 44:  Key leading countries

  7.9 Market opportunity by geography

  Exhibit 45:  Market opportunity by geography ($ million)

8. Drivers, Challenges, and Trends 

  8.1 Market drivers 

  8.1.1  Increasing Internet and smartphone penetration

  8.1.2  Increasing consolidation of online travel agencies

  8.1.3  Differential packaging methods used by vendors

  8.2 Market challenges 

  8.2.1  Disruptions in travel demand

  8.2.2  Global economic slowdown

  8.2.3  Threat from offline travel agencies

  Exhibit 46:  Impact of drivers and challenges

  8.3 Market trends 

  8.3.1  Increasing adoption of online payment platforms

  8.3.2  Expansion of low-cost carriers

  8.3.3  Dynamic cost-effective IT solutions

9. Vendor Landscape 

  9.1 Overview

  Exhibit 47:  Vendor landscape

  9.2 Landscape disruption 

  Exhibit 48:  Landscape disruption

  Exhibit 49: Industry Risk

  9.3 Competitive Scenario 

10. Vendor Analysis 

  10.1 Vendors covered 

  Exhibit 50: Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 51: Market positioning of vendors

  10.3  Amadeus IT Group SA 

  Exhibit 52:  Amadeus IT Group SA - Overview

  Exhibit 53:  Amadeus IT Group SA - Business segments

  Exhibit 54:  Amadeus IT Group SA - Key offerings

  Exhibit 55:  Amadeus IT Group SA - Segment focus

  10.4  DirectVision SRL 

  Exhibit 56:  DirectVision SRL - Overview

  Exhibit 57:  DirectVision SRL - Product and service

  Exhibit 58:  DirectVision SRL - Key offerings

  10.5  Fourth Dimension 

  Exhibit 59:  Fourth Dimension - Overview

  Exhibit 60:  Fourth Dimension - Product and service

  Exhibit 61:  Fourth Dimension - Key offerings

  10.6  mTrip 

  Exhibit 62:  mTrip - Overview

  Exhibit 63:  mTrip - Product and service

  Exhibit 64:  mTrip - Key offerings

  10.7  Oracle Corp. 

  Exhibit 65:  Oracle Corp. - Overview

  Exhibit 66:  Oracle Corp. - Business segments

  Exhibit 67:  Oracle Corp. - Key offerings

  Exhibit 68:  Oracle Corp. - Segment focus

  10.8  Pc Voyages 2000 Inc. 

  Exhibit 69:  Pc Voyages 2000 Inc. - Overview

  Exhibit 70:  Pc Voyages 2000 Inc. - Product and service

  Exhibit 71:  Pc Voyages 2000 Inc. - Key offerings

  10.9  Sabre GLBL Inc.

  Exhibit 72:  Sabre GLBL Inc. - Overview

  Exhibit 73:  Sabre GLBL Inc. - Business segments

  Exhibit 74:  Sabre GLBL Inc. - Key offerings

  Exhibit 75:  Sabre GLBL Inc. - Segment focus

  10.10  Tramada Systems Pty Ltd. 

  Exhibit 76:  Tramada Systems Pty Ltd. - Overview

  Exhibit 77:  Tramada Systems Pty Ltd. - Product and service

  Exhibit 78:  Tramada Systems Pty Ltd. - Key offerings

  10.11  TravelCarma 

  Exhibit 79:  TravelCarma - Overview

  Exhibit 80:  TravelCarma - Product and service

  Exhibit 81:  TravelCarma - Key offerings

  10.12  TravelSoft Corp.

  Exhibit 82:  TravelSoft Corp. - Overview

  Exhibit 83:  TravelSoft Corp. - Product and service

  Exhibit 84:  TravelSoft Corp. - Key offerings

11. Appendix 

  11.1 Scope of the report 

  11.1.1 Market definition

  11.1.2 Objectives

  11.1.3 Notes and caveats

  11.2 Currency conversion rates for US$ 

  Exhibit 85: Currency conversion rates for US$

  11.3 Research Methodology 

  Exhibit 86: Research Methodology

  Exhibit 87: Validation techniques employed for market sizing

  Exhibit 88: Information sources

  11.4 List of abbreviations 

  Exhibit 89: List of abbreviations

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