About Travel Technologies
Travel technologies are IT solutions used by airline companies, hotels, and OTAs to manage end-to-end travel solutions. IT solutions such as travel network management solution GDS, mobile solution, platform solutions, e-commerce software solution, data management solutions, and digital marketing solutions are primarily implemented in the travel industry.
Technavio’s analysts forecast the global travel technologies market to grow at a CAGR of 8.3% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global travel technologies market for 2017-2021. To calculate the market size, the report considers the revenue generated in the form of incentive payments for air, car, and hotel segments processed through a GDS.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Travel Technologies Market 2017-2021
Technavio recognizes the following companies as the key players in the global travel technologies market: Amadeus, Sabre, and Travelport.
Other Prominent Vendors in the market are: CRS Technologies, Dolphin Dynamics, ecare Technology Labs, Expert Travel Services, Fourth Dimension Software, Lemax, mTrip, PCVoyages 2000, Qtech Software, Technoheaven Consultancy, Toursys Solutions, Tramada Systems, TravelCarma, Trip Solutions, and Web Booking Expert.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increasing adoption of biometrics and wearable technology. In the airline industry, the use of biometrics and wearable technologies will increase in the near future. Biometrics and wearable technologies are helping the airline industry to provide their customers hassle-free airline services. In 2015, Alaska Airlines integrated passengers' fingerprints for check-ins to replace travel documents. The airline customers gave a positive response and were satisfied during their boarding process with the help of biometrics technology. Similarly, in 2015, Air New Zealand installed self-service bag drop units and check-in facilities powered by the biometrics technology and embedded cameras at Auckland Airport.”
According to the report, one driver in market is need to automate travel management systems. Travel automation technologies such as GDSs and e-payment systems automate the operational and transactional processes in travel organizations. Leading vendors such as Sabre and Amadeus have recognized the importance of automation in technology offerings. Automation in a business process in travel and tourism service providers not only helps to minimize the cost but also streamline the routine business process. Manual process and legacy systems have shown inefficiency in managing a large volume of transaction in OTAs. Travel technologies ensure the payment standards and compliance such as payment application data security standard (PA-DSS) protocol.
Further, the report states that one challenge in market is systems integration issues. System integration is a key challenge that many vendors face while deploying travel technology systems such as GDS. Seamless integration of GDS with the IT systems if end-users are required to make the travel technologies interoperable. OTAs are facing problems related to the integration of their websites and apps with their travel service providers such as GDS, airline booking websites, hotel managers, and cab aggregators. System integration issues that arise during the operational process can adversely affect the business of end-users and also damage the reputation of the online booking services providers. Increasing complexity and technical glitches in travel technologies to provide real-time information about travel bookings also affect the reputation of the OTAs. For instance, MakeMyTrip was earlier into flight booking business but later tapped into rail reservation and cab booking services. The addition of services by the OTAs over a period of time requires a high level of technical expertise to integrate different services on one portal.
Amadeus, Sabre, Travelport, CRS Technologies, Dolphin Dynamics, ecare Technology Labs, Expert Travel Services, Fourth Dimension Software, Lemax, mTrip, PCVoyages 2000, Qtech Software, Technoheaven Consultancy, Toursys Solutions, Tramada Systems, TravelCarma, Trip Solutions, Web Booking Expert.