Global Travel Technology Market Opportunity, Trends and Forecast 2015-2019 – Key Vendors are Amadeus, Navitaire, Sabre & Travelport

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Posted Under : Technology

  • Posted by :Thomas
  • Date : Oct 12, 2015

The global travel technology market to grow at a CAGR of 7.9% over the period 2014-2019. Technology is seeping in the travel industry; globally, online travel sales has increased to more than $600 billion in 2014, which constitutes nearly one-third of the total travel sales. One of the fourth most such applications is flight tracking. Earlier, travel technology was related with computer reservation systems (CRS) of the airlines industry, but now it broadly includes the tourism sector along with its subset the hospitality industry. Mobile devices are becoming the most preferred medium for using travel technology. Along with this, the usage of big data analytics and social media is becoming the latest trend in adopting the travel technology. 

Many travel suppliers are focusing on developing in-house applications and software for their business processes, as constantly changing business models require flexible and scalable technology. Increased cost efficiency and reduced IT budgets have compelled many travel suppliers to outsource services to third-party solution providers for key technologies. As a result, they have started using monthly fee subscriptions associated with software as a service (SaaS) and hosted solutions.

Key vendors:-