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
- PCVoyages 2000, Inc.
- Qtech Software Pvt. Ltd
- Sabre Corporation
- Tramada Systems
- Travelport Worldwide Ltd.