NEW YORK, March 14, 2023 /PRNewswire/ — The global online travel agencies IT spending market size is estimated to grow by USD 1.73 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 15.22% during the forecast period. The growth of the market is driven by factors such as increasing internet and smartphone penetration, increasing consolidation of online travel agencies, and differential packaging methods used by vendors. For more insights on the market size (2022 to 2026) – Request a sample report
The growth of the market is driven by the increasing internet and smartphone penetration. Governments in developed and developing countries are taking various initiatives to increase the accessibility of the internet to citizens. In addition, the rising adoption of smartphones has increased the number of internet users. This has encouraged online travel companies to launch innovative and user-friendly mobile applications to attract more customers. Some travel companies are partnering with mobile phone companies to provide special edition apps and offers for customers. All these factors are driving the growth of the market.
What’s New
- Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report!
Global Online Travel Agencies IT spending Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (software spending, IT services spending, and hardware spending) and geography (North America, Europe, APAC, South America, and MEA).
- The growth of the market in the software spending segment will be significant during the forecast period. Many travel enterprises are adopting cloud-based IT solutions to reduce costs, improve flexibility, enhance customer service, and adopt advanced technologies. This is increasing the adoption of spending on software solutions for marketing, selling, serving, and operating functions among enterprises. These factors are driving the growth of the segment.
Geography Overview
By geography, the global online travel agencies IT spending market is segmented into North America, Europe, APAC, South America, and MEA. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online travel agencies IT spending market.
- North America will account for 39% of the market growth during the forecast period. Expanding baby boomer population, increasing significant growth in disposable incomes, and increasing expenditures in leisure and traveling activities are driving the growth of the regional market.
Insights on the market contribution of various segments including country and region wise and forecast market size (2022 to 2026) – Download a Sample Report
Global Online Travel Agencies IT spending Market – Market Dynamics
Leading trends influencing the market
- The increasing adoption of online payment platforms is the key trend in the market.
- Online payments are increasingly becoming popular among consumers.
- Banks and financial institutions are securing their websites with secure socket layer certificates to benefit their customers.
- Search engines such as Google continuously provide updates to create awareness among online users about the security offered by various websites and web pages.
- All these factors are increasing the number of online transactions worldwide, which is expected to have a positive impact on market growth.
Major challenges hindering the market growth
- Disruptions in travel demand is identified as the major challenge affecting the growth of the market.
- Disruptions in travel happen due to various factors such as increase in airline pricing, hotel pricing, and natural calamities.
- Many customers book tickets and other amenities, and later cancel these services due to various reasons.
- During natural calamities, local governments impose restrictions on traveling.
- Such instances create significant losses to vendors and negatively impact market growth.
Insights on Market Drivers, Trends, & Challenges, and forecast period (2022 to 2026) – Request a sample report!
What are the key data covered in this online travel agencies IT spending market report
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the online travel agencies IT spending market between 2022 and 2026
- Precise estimation of the size of the online travel agencies IT spending market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the online travel agencies IT spending market industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of online travel agencies IT spending market vendors
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
- The hotel and hospitality management software market is estimated to grow at a CAGR of 6.59% between 2022 and 2027. The size of the market is forecast to increase by USD 1,176.2 million. The reduction in overall operational costs is a major factor driving the hotel and hospitality management software market growth, although factors such as the complications in changeover from the traditional system may impede the market growth.
- The travel and expense management software market size is expected to increase by USD 2.90 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 10.79%. The increasingly mobile workforce is notably driving the travel and expense management software market growth, although factors such as the growing threat from open-source travel and expense management solutions may impede the market growth.
|
Online Travel Agencies IT Spending Market Scope |
|
|
Report Coverage |
Details |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 15.22% |
|
Market growth 2022-2026 |
USD 1.73 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023 (%) |
14.00 |
|
Regional analysis |
North America, Europe, APAC, South America, and MEA |
|
Performing market contribution |
North America at 39% |
|
Key countries |
US, Canada, China, Germany, the UK, Canada, Mexico, Italy, Spain, India, Japan, Australia, and South Korea |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Amadeus IT Group SA, DirectVision SRL, Fourth Dimension, mTrip, Oracle Corp., Pc Voyages 2000 Inc., Sabre GLBL Inc., Tramada Systems Pty Ltd., TravelCarma, and TravelSoft Corp. |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse through Technavio’s Information Technology Market Reports, ToC & LoE
Table of contents:
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent Market
Exhibit 08 Parent market
Exhibit 09: Market characteristics
2.2 Value Chain Analysis
Exhibit 10: Value Chain Analysis: IT consulting and other services
2.2.1 Inputs
2.2.2 Operations
2.2.3 Marketing and sales
2.2.4 Service
2.2.5 Support activities
2.2.6 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 – 2026
Exhibit 13: Global – Market size and forecast 2021 – 2026 ($ million)
Exhibit 14: Global market: Year-over-year growth 2021 – 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 – 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of the buyer
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of the supplier
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition – Five forces 2021
5. Market Segmentation by Type
5.1 Market segments
Exhibit 22: TypeMarket share 2021 – 2026 (%)
5.2 Comparison by Type
Exhibit 23: Comparison by Type
5.3 Software spending – Market size and forecast 2021-2026
Exhibit 24: Software spending – Market size and forecast 2021-2026 ($ million)
Exhibit 25: Software spending – Year-over-year growth 2021-2026 (%)
5.4 IT services spending – Market size and forecast 2021-2026
Exhibit 26: IT services spending – Market size and forecast 2021-2026 ($ million)
Exhibit 27: IT services spending – Year-over-year growth 2021-2026 (%)
5.5 Hardware spending – Market size and forecast 2021-2026
Exhibit 28: Hardware spending- Market size and forecast 2021-2026 ($ million)
Exhibit 29: Hardware spending Year-over-year growth 2021-2026 (%)
5.6 Market opportunity by Type
Exhibit 30: Market opportunity by Type
6. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
6.1 Overview
Exhibit 31: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 32: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 33: Geographic comparison
7.3 North America – Market size and forecast 2021-2026
Exhibit 34: North America – Market size and forecast 2021-2026($ million)
Exhibit 35: North America – Year-over-year growth 2021-2026 (%)
7.4 Europe– Market size and forecast 2021-2026
Exhibit 36: Europe – Market size and forecast 2021-2026 ($ million)
Exhibit 37: Europe – Year-over-year growth 2021-2026(%)
7.5 APAC- Market size and forecast 2021-2026
Exhibit 38: APAC – Market size and forecast 2021-2026 ($ million)
Exhibit 39: APAC- Year-over-year growth 2021-2026 (%)
7.6 South America – Market size and forecast 2021-2026
Exhibit 40: South America – Market size and forecast 2021-2026 ($ million)
Exhibit 41: South America – Year-over-year growth 2021-2026 (%)
7.7 MEA- Market size and forecast 2021-2026
Exhibit 42: MEA – Market size and forecast 2021-2026 ($ million)
Exhibit 43: MEA – Year-over-year growth 2021-2026 (%)
7.8 Key leading countries
Exhibit 44: Key leading countries
7.9 Market opportunity by geography
Exhibit 45: Market opportunity by geography ($ million)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increasing Internet and smartphone penetration
8.1.2 Increasing consolidation of online travel agencies
8.1.3 Differential packaging methods used by vendors
8.2 Market challenges
8.2.1 Disruptions in travel demand
8.2.2 Global economic slowdown
8.2.3 Threat from offline travel agencies
Exhibit 46: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increasing adoption of online payment platforms
8.3.2 Expansion of low-cost carriers
8.3.3 Dynamic cost-effective IT solutions
9. Vendor Landscape
9.1 Overview
Exhibit 47: Vendor landscape
9.2 Landscape disruption
Exhibit 48: Landscape disruption
Exhibit 49: Industry Risk
9.3 Competitive Scenario
10. Vendor Analysis
10.1 Vendors covered
Exhibit 50: Vendors covered
10.2 Market positioning of vendors
Exhibit 51: Market positioning of vendors
10.3 Amadeus IT Group SA
Exhibit 52: Amadeus IT Group SA – Overview
Exhibit 53: Amadeus IT Group SA – Business segments
Exhibit 54: Amadeus IT Group SA – Key offerings
Exhibit 55: Amadeus IT Group SA – Segment focus
10.4 DirectVision SRL
Exhibit 56: DirectVision SRL – Overview
Exhibit 57: DirectVision SRL – Product and service
Exhibit 58: DirectVision SRL – Key offerings
10.5 Fourth Dimension
Exhibit 59: Fourth Dimension – Overview
Exhibit 60: Fourth Dimension – Product and service
Exhibit 61: Fourth Dimension – Key offerings
10.6 mTrip
Exhibit 62: mTrip – Overview
Exhibit 63: mTrip – Product and service
Exhibit 64: mTrip – Key offerings
10.7 Oracle Corp.
Exhibit 65: Oracle Corp. – Overview
Exhibit 66: Oracle Corp. – Business segments
Exhibit 67: Oracle Corp. – Key offerings
Exhibit 68: Oracle Corp. – Segment focus
10.8 Pc Voyages 2000 Inc.
Exhibit 69: Pc Voyages 2000 Inc. – Overview
Exhibit 70: Pc Voyages 2000 Inc. – Product and service
Exhibit 71: Pc Voyages 2000 Inc. – Key offerings
10.9 Sabre GLBL Inc.
Exhibit 72: Sabre GLBL Inc. – Overview
Exhibit 73: Sabre GLBL Inc. – Business segments
Exhibit 74: Sabre GLBL Inc. – Key offerings
Exhibit 75: Sabre GLBL Inc. – Segment focus
10.10 Tramada Systems Pty Ltd.
Exhibit 76: Tramada Systems Pty Ltd. – Overview
Exhibit 77: Tramada Systems Pty Ltd. – Product and service
Exhibit 78: Tramada Systems Pty Ltd. – Key offerings
10.11 TravelCarma
Exhibit 79: TravelCarma – Overview
Exhibit 80: TravelCarma – Product and service
Exhibit 81: TravelCarma – Key offerings
10.12 TravelSoft Corp.
Exhibit 82: TravelSoft Corp. – Overview
Exhibit 83: TravelSoft Corp. – Product and service
Exhibit 84: TravelSoft Corp. – Key offerings
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 85: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 86: Research Methodology
Exhibit 87: Validation techniques employed for market sizing
Exhibit 88: Information sources
11.4 List of abbreviations
Exhibit 89: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
