"The Report Global Travel
Technologies Market 2017-2021 provides information on pricing, market
analysis, shares, forecast, and company profiles for key industry
participants. - MarketResearchReports.biz"
MarketResearchReports.biz
has recently announced the addition of a detailed market research
report analyzing the global market for travel technologies to its
research report portfolio. The report, titled “Global
Travel Technologies Market 2017-2021,”
states that the market will exhibit a promising 8% CAGR over the
period between 2017 and 2021.
The
rising demand to automate travel management systems will be the key
factor driving the market over the said period. Some of the major
factors attributable to the rising demand for automated travel
management systems are the need to minimize operation costs in the
highly competitive global travel industry, need for streamlining
expansive business operations and processes, and rising awareness
regarding the benefits of automated tracking systems.
Owing
to these factors, an increasing number of travel and tourism service
providers are using travel automation technologies such as e-payment
systems and global distribution system. The rising use of wearable
technologies and biometrics is also expected to drive the global
market for travel technologies in the next few years.
The
global market for travel technologies has been segmented on the basis
of product type into airline and hospitality IT solutions and the
global distribution system (GDS). Of these, the segment of global
distribution system accounted for the dominant share in the global
market in 2016 and is expected to retain dominance through the
forecast period as well. One of the key factors encouraging the
increased use of GDSs by travel agents is the pressing need to
automate reservation process so as to improve productivity.
From
a geographical perspective, the travel technologies market is
examined in the report for regions such as Americas (North and South
America), Asia Pacific (APAC), and Europe, Middle East, and Africa
(EMEA). Of these, the EMEA segment accounted for the maximum share in
the global market in 2016 and is expected to retain dominance
throughout the forecast period. The presence of a highly fragmented
hotel market in Eastern Europe and the lower penetration of online
travel agencies in the overall region are some of the key factors
attributable to EMEA’s dominance in the global travel technologies
market.
The
global market for travel technologies features a diversified and
highly competitive market owing to the presence of a large number of
domestic and international players. The level of competition is
becoming more intense in the market as many companies have started
offering cloud-based property management software solutions.
View Report @
http://www.marketresearchreports.biz/pressrelease/3814
Some
of the key players operating in the global travel technologies market
are Travelport, Amadeus, Sabre, Expert Travel Services, Dolphin
Dynamics, CRS Technologies, ecare Technology Labs, Technoheaven
Consultancy, Fourth Dimension Software, mTrip, Lemax, Trip Solutions,
PCVoyages 2000, Toursys Solutions, Qtech Software, Tramada Systems,
Web Booking Expert, and TravelCarma.
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