NEW YORK, Oct. 26, 2021 /PRNewswire/ -- The travel technologies market size is set to grow by USD 1.56 billion from 2021 to 2025, according to Technavio. The report offers an analysis of the various factors including drivers, trends, and opportunities influencing the market growth.
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The adoption of robotic process automation (RPA) and the increased application of artificial intelligence in the travel industry will be key factors accelerating the market growth. The use of these applications offers cost-effective options for travel programs and minimizes cost as well as boosts revenue. However, factors such as cybersecurity will challenge the growth of the travel technologies market participants.
Travel Technologies Market 2021-2025: Segmentation
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Travel Technologies Market 2021-2025: Vendor Analysis and Scope
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Amadeus IT Group SA, CRS Technologies India Pvt. Ltd., Dolphins Dynamics Ltd., ecare Technology Labs Pvt. Ltd., Expedia Group Inc., Lemax Ltd., Sabre Corp., Technoheaven, Tramada Systems Pty Ltd., and Travel Technology Consulting Inc. are some of the major market participants. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The report also covers the following areas:
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Travel Technologies Market 2021-2025: Key Highlights
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Travel Technologies Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4% |
Market growth 2021-2025 |
USD 1.56 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.79 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, UK, China, Germany, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Amadeus IT Group SA, CRS Technologies India Pvt. Ltd., Dolphins Dynamics Ltd., ecare Technology Labs Pvt. Ltd., Expedia Group Inc., Lemax Ltd., Sabre Corp., Technoheaven, Tramada Systems Pty Ltd., and Travel Technology Consulting Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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