Travel technology is an extension of information and communication technology dealing with tourism and hospitality sectors. This technology enables agencies to book flights, tours, transfers, and others.
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It was majorly related with the airline industry that mostly dealt with computer reservation systems. Currently, the mobile devices are the most preferred medium to use travel technologies.
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Increase in business travel expenditure, and usage of social media and big data analytics drives the market growth. However, synchronization issues by booking engines and online travel agencies (OTAs) restrain this growth.
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A shift towards SaaS-based and hosted solutions presents a major opportunity for market expansion.
The global travel technology market is segmented based on product and region. On the basis of product, it is bifurcated into airline & hospitality IT solutions and global distribution system (GDS).
Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market are Amadeus Navitaire, Sabre, Travelport, CRS Technologies, mTrip, Qtech Software, Tramada Systems, PcVoyages 2000, and Lemax.
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