Global Travel Technologies Industry

Global Travel Technologies Industry

  • May 2021 •
  • 229 pages •
  • Report ID: 5960337 •
  • Format: PDF
Abstract:

Global Travel Technologies Market to Reach $13.6 Billion by 2027

Amid the COVID-19 crisis, the global market for Travel Technologies estimated at US$8.6 Billion in the year 2020, is projected to reach a revised size of US$13.6 Billion by 2027, growing at aCAGR of 6.8% over the period 2020-2027. Global Distribution System (GDS), one of the segments analyzed in the report, is projected to record 6.1% CAGR and reach US$9.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Airline & Hospitality IT Solutions segment is readjusted to a revised 8.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 8.2% CAGR

The Travel Technologies market in the U.S. is estimated at US$1.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2027 trailing a CAGR of 8.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 6.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR.

Select Competitors (Total 35 Featured)
  • Amadeus IT Group, S.A
  • Navitaire LLC
  • CRS Technologies India Pvt. Ltd
  • Dolphins Dynamics
  • Expedia Group
  • Kaptio Travel
  • Lemax Ltd
  • mTrip
  • PCVoyages 2000, Inc.
  • Qtech Software Pvt. Ltd
  • Sabre Corporation
  • Tramada Systems
  • Travelport Worldwide Ltd.