Travel Technology Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021-2026

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Travel Technology Market Overview

The global Travel Technology Market is estimated to surpass $12 billion mark by 2026 growing at an estimated CAGR of more than 7.7% during the forecast period 2021 to 2026. New technologies are helping to get us from Point A to Point B more efficiently than ever before. Innovative transportation tech, such as autonomous vehicles and e-bikes, is helping travellers get to wherever we want to go; no matter if it’s just down the block, across the country or a few hundred miles into outer space. Due to Covid-19, The value of contactless payments and the distribution of digital services has been advanced by social distancing. The increasing adoption and anticipation of contactless systems, forcing all firms to adapt to practice, is illustrated by customer behaviour. As the hotel industry braces for the return of travellers, the industry needs to identify modern customer contact points in order to digitise procedures and offer more confidence while offering more insight in the guest journey.

Report Coverage

The report: “Travel Technology Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Travel Technology Market.
By Type: Transportation (Airlines, Cruises, Road, Rail), Hospitality (Hotels, Rented Accommodations)
By Solution Type: Booking and Search, Itinerary Management, Travel Management and Accounting, Comparison and Others 
By Deployment Model: Web-Based Only, Web and Mobile Based
By Pricing Model: One Time Payment and Subscription
By Technology: AI, IoT, AR and VR, Big Data and Others
By End Users: Travel Agencies, Transportation Companies, Corporations and Hotels
By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa).

Key Takeaways

  • Throughway of graphic overlays, personnel in the tourism industry can significantly improve consumer loyalty by supplying consumers with useful knowledge or even great entertainment. For instance, mobile applications can be used to increase photography through filters and effects.  
  • Each travel operator, hotel or transport company handles all kinds of sensitive data on their customers, as well as their own staff and suppliers. The consequences of organisations experiencing online data breaches are now higher than ever before.
  • Within the list of core tech innovations, recognition technology is highly important due to its ability to eliminate friction from sales and make transactions smoother. Fingerprint identification, facial recognition, retina scanning and various other biometric markers are part of the technology itself.

Travel Technology Market Segment Analysis - By Type

Transportation segment held the highest market share in 2020 and it is anticipated to witness significant market growth during the forecast period 2021-2026 with a CAGR of 8.23%. The market growth is attributed to factors such as growing adoption of IoT and automation technologies to enhance technological optimization for offering better customer experience. Additionally, growing government initiatives and PPP models for smart transportation, rising urban population and high demographic rates also benefits the market growth. While the move to e-commerce and the growth of mobile commerce has fuelled the anticipation of contactless payments, Covid-19's social distancing has increased acceptance with many retail stores only accepting contactless or card payments. Mastercard analysis showed that 79 per cent of users use contactless payments to ensure protection and cleanliness, with 72 per cent reporting that they will continue to use contactless payment solutions with pace even though a pandemic fades,  marking as one of the key strength to the market growth.

Travel Technology Market Segment Analysis - By Technology

IoT and Big Data are the major technologies adopted for travel automation technology. Big data is a fact of life in modern tourism management, and nearly all businesses that are successful use their own data collection techniques. Improving personalization is one of the largest applications of this data, with travel firms using the details they obtain to make precise changes to their products, thereby leading to business growth. Another useful application of data is the study of actual market results. In particular, hotel owners may use big data for revenue regulatory purposes, leveraging historic occupancy rates and other past indicators to help forecast demand levels. When demand is predictable, pricing and advertising tactics can also be tailored to deliver better services to consumers. The Internet of Things (IoT), which includes internet-based interoperability between everyday devices that enables them to both transmit and receive data, is one of the most exciting new developments in travel technology. People are already witnessing evidence of its position in the travel and tourism industry and this will expand further in the years ahead. In hotel rooms, for instance, IoT technology can be used to provide guests with a system that connects to everything from lighting, heaters and air conditioning, allowing everything to be operated from one location. In the meantime, baggage cases can be mounted in airports with sensors that warn travellers as they walk by. Smart technology smarter airports is also one such arena for deployment of Internet of Things (IOT). All these benefits and growing applications owing to the technological advancements contribute to the upliftment of the market growth.

Travel Technology Market Segment Analysis - By Geography

Geographically, APAC region is anticipated to witness significant market growth during the forecast period 2021-2026 with a CAGR of 8.23%. This market growth is attributed to factors including rapid economic growth, increasing spending of the middle-class population, increasing focus on creating new experiences, surging urban population, and others. With a rise in disposable income, people are willing to invest more on travel and tourism which were historically considered to be luxury. Furthermore, widespread adoption of SaaS-based models are providing a boost to market growth. For instance, organizations are increasingly employing robotic process automation (RPA) to streamline and automatically process applications, manage bookings and paperwork to minimize human errors.

Travel Technology Market Drivers

Rise of Voice Search & Voice Control

In terms of technological developments in the travel industry, smartphones, smart speakers and AI assistants have all contributed to improve the importance of voice search. In particular, voice search is being used by a growing range of travel clients to locate and book plane tickets, hotel rooms and travel experiences. Therefore, designing the website with voice search in mind is important, so that the organisation can capitalise on this trend. In addition to this, voice control also plays an increasing role in real travel encounters as well. Voice-controlled machines can be used inside hotel rooms to monitor lighting and ventilation in rooms or to access visitor information without the need to talk to a staff member. This is also expected to continue to spread into other parts of the travel business as well.

Deployment of Contactless Payment

The reluctance to accept contactless payments is another significant type of travel technology. It would make it much faster for travel agencies to accept transactions, even in cases where consumers do not have access to cash or a credit or debit card. Since it is a time-saver, it will also boost the client experience. Contactless payment availability began as a convenience, but in the aftermath of the coronavirus pandemic, it has arisen as a core part of travel marketing. Some are hesitant to treat cash as travellers are worried about the transmission of the virus. The team members of the enterprises will also be secured by using contactless payments as often as possible. It is anticipated that the prominence of this technology on a large scale in the years ahead offers a growth opportunity for the market.

Travel Technology Market Challenges

Cybersecurity Issues with Travel Technology

For those in travel management positions, cybersecurity is a significant focus field, and enterprises in the sector are more at risk of cyber threats and often more vulnerable to data breaches of other kinds. Travel firms are a big focus because they recruit a lot of people and have access to an array of consumer information. Phishing attacks, unauthorised access, financial fraud are some of the main challenges in this field, while modern dependence on data still puts enterprises at risk of human error caused by their own employees too. This entails investment in training in cybersecurity and numerous hardware and technological technologies in order to keep the enterprise and business safe. Each travel operator, hotel or transport company handles all kinds of sensitive data on their customers, as well as their own staff and suppliers. The consequences of organisations experiencing online data breaches are now higher than ever before.. Thus, data security issues act as constraint to the market growth. It is, therefore, important to keep up with the latest regulations and to comply with data protection laws. 

Travel Technology Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Travel Technology Market. Amadeus IT, mTrip, Lemax, CRS Technologies, Navitaire, Sabre Corp., Qtech Software, Tramada Systems, Travelport International and others are considered to be the key players of the Travel Technology Market.

Acquisitions/Technology Launches/Partnerships

  • In July 2019, Ford Motor Company and Volkswagen AG revealed that through a strategic partnership with Argo AI, they are collaborating on autonomous vehicle technologies in the U.S. and Europe in a synergistic effort to stay successful in the evolving transportation environment.
  • In October 2021, Travel Tech Asia has been organised by ITB Asia team and is co-located with ITB Asia and MICE Show Asia, making it part of the biggest travel trade show in Asia Pacific.


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1. Travel Technology Market - Overview
        1.1 Definitions and Scope
2. Travel Technology Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Travel Technology Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Travel Technology Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Travel Technology Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Travel Technology Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Travel Technology Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Travel Technology Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
            8.3.1 Airline And Hospitality It Solution
            8.3.2 Global Distribution System
9. Travel Technology Market - By Type (Market Size -$Million / $Billion)
10. Travel Technology - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. Travel Technology- By Geography (Market Size -$Million / $Billion)
        11.1 Travel Technology Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Travel Technology- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Travel Technology- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Travel Technology - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Travel Technology - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Travel Technology Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Travel Technology Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Travel Technology Market - Key Company List by Country Premium
15. Travel Technology Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Amadeus
        15.3 Cr Technology
        15.4 Lemax
        15.5 Mtrip
        15.6 Navitaire
        15.7 Otech Software
        15.8 Pcvoyages 2000
        15.9 Sabre
        15.10 Tramada System
        15.11 Travelport
        15.12 Company 11
        15.13 Company 12 & More
*Financials would be provided on a best efforts basis for private companies
16. Travel Technology Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Travel Technology Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Travel Technology Market, By Product Market 2019-2024 ($M)
1.1 Airline And Hospitality It Solution Market 2019-2024 ($M) - Global Industry Research
1.2 Global Distribution System Market 2019-2024 ($M) - Global Industry Research
2.Global Travel Technology Market, By Product Market 2019-2024 (Volume/Units)
2.1 Airline And Hospitality It Solution Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Global Distribution System Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Travel Technology Market, By Product Market 2019-2024 ($M)
3.1 Airline And Hospitality It Solution Market 2019-2024 ($M) - Regional Industry Research
3.2 Global Distribution System Market 2019-2024 ($M) - Regional Industry Research
4.South America Travel Technology Market, By Product Market 2019-2024 ($M)
4.1 Airline And Hospitality It Solution Market 2019-2024 ($M) - Regional Industry Research
4.2 Global Distribution System Market 2019-2024 ($M) - Regional Industry Research
5.Europe Travel Technology Market, By Product Market 2019-2024 ($M)
5.1 Airline And Hospitality It Solution Market 2019-2024 ($M) - Regional Industry Research
5.2 Global Distribution System Market 2019-2024 ($M) - Regional Industry Research
6.APAC Travel Technology Market, By Product Market 2019-2024 ($M)
6.1 Airline And Hospitality It Solution Market 2019-2024 ($M) - Regional Industry Research
6.2 Global Distribution System Market 2019-2024 ($M) - Regional Industry Research
7.MENA Travel Technology Market, By Product Market 2019-2024 ($M)
7.1 Airline And Hospitality It Solution Market 2019-2024 ($M) - Regional Industry Research
7.2 Global Distribution System Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Travel Technology Market Revenue, 2019-2024 ($M)
2.Canada Travel Technology Market Revenue, 2019-2024 ($M)
3.Mexico Travel Technology Market Revenue, 2019-2024 ($M)
4.Brazil Travel Technology Market Revenue, 2019-2024 ($M)
5.Argentina Travel Technology Market Revenue, 2019-2024 ($M)
6.Peru Travel Technology Market Revenue, 2019-2024 ($M)
7.Colombia Travel Technology Market Revenue, 2019-2024 ($M)
8.Chile Travel Technology Market Revenue, 2019-2024 ($M)
9.Rest of South America Travel Technology Market Revenue, 2019-2024 ($M)
10.UK Travel Technology Market Revenue, 2019-2024 ($M)
11.Germany Travel Technology Market Revenue, 2019-2024 ($M)
12.France Travel Technology Market Revenue, 2019-2024 ($M)
13.Italy Travel Technology Market Revenue, 2019-2024 ($M)
14.Spain Travel Technology Market Revenue, 2019-2024 ($M)
15.Rest of Europe Travel Technology Market Revenue, 2019-2024 ($M)
16.China Travel Technology Market Revenue, 2019-2024 ($M)
17.India Travel Technology Market Revenue, 2019-2024 ($M)
18.Japan Travel Technology Market Revenue, 2019-2024 ($M)
19.South Korea Travel Technology Market Revenue, 2019-2024 ($M)
20.South Africa Travel Technology Market Revenue, 2019-2024 ($M)
21.North America Travel Technology By Application
22.South America Travel Technology By Application
23.Europe Travel Technology By Application
24.APAC Travel Technology By Application
25.MENA Travel Technology By Application
26.Amadeus, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Navitaire, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Sabre, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Travelport, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Cr Technology, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Mtrip, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Otech Software, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Tramada System, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Pcvoyages 2000, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Lemax, Sales /Revenue, 2015-2018 ($Mn/$Bn)