The global travel technologies market was valued at around USD 10 billion in 2016 and is expected to surpass USD 14 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global travel technologies market to its enterprise application portfolio. This market analysis discourses the major drivers and key emergent trends and offers a breakdown of key vendors like Amadeus, Sabre, and Travelport.
According to Amit Sharma, a lead analyst for enterprise application research at Technavio, “The excessive use of smartphones phones, tablets, and connected devices for travel related services will augment the evolution of the market. These smart devices are used for travel booking, assistance, social media postings, and blogs. The vendors in the market are providing mobile phone applications that are used to manage travel trips for customers to increase their profitability.”
The companies in the market are investing in application development software and services to offer better consumer experience and easy travel booking options. The adoption of in-app advertisements requires technologies such as Google AdWords and software development initiatives undertaken by vendors will help them introduce suitable offers as per consumer requirements. The monetization of smartphone applications helps companies to offer their apps to customers through various models such as subscription-based, social media-oriented apps, and free apps.
Click here to request a free sample of this report
Emergence of augmented reality
Augmented reality provides real-time information and helps travelers to plan their trips with the help of information gathered from online sources. These technologies aid the travelers to view their lodging and boarding facilities in a hotel and allows them to book hotels as per their preferences. The vendors are developing AR apps with features that are designed to offer convenience to end-users and can be read through mobile devices and augment reality apps.
Increasing adoption of biometrics and wearable technology
The companies are using biometrics and wearable technologies to provide faster and smoother services to consumers. The companies are installing self-service bag drop units and check-in facilities powered by the biometrics technology and embedded cameras at various airports. Wearable technologies can function through pre-installed apps or can be integrated with iOS, Android, and Windows operating systems. This technology has unique features of scanning and sensors technologies, which can be used during the airport check-in process.
Ask an analyst to know more about this report
This research report includes an in-depth analysis and market shares and sizes of the sub-sections and geography. An analysis of the top companies, including their market shares, business summary, key financials, etc. is provided in this study. This market study also offers a detailed analysis of key drivers, challenges, and prospects influencing this market.
A more detailed analysis is accessible in the Technavio report titled, ‘Global Travel Technologies Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Travel Vaccines Market 2016-2020
- Global Travel and Expense Management Software Market 2016-2020
- Global Air Travel Services – Procurement Market Intelligence Report 2016-2020
To read more press releases – click here
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
