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The online travel agencies IT spending market share is expected to increase by USD 1.73 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.22%.
This online travel agencies IT spending market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers online travel agencies IT spending market segmentation by type (software spending, IT services spending, and hardware spending) and geography (North America, Europe, APAC, South America, and MEA). The online travel agencies IT spending market report also offers information on several market vendors, including 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. among others.
Download the Free Report Sample to Unlock the Online Travel Agencies IT Spending Market Size for the Forecast Period and Other Important Statistics
The increasing internet and smartphone penetration is notably driving the online travel agencies IT spending market growth, although factors such as disruptions in travel demand may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the online travel agencies IT spending industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Online Travel Agencies IT Spending Market Driver
The increasing internet and smartphone penetration is one of the key drivers supporting the online travel agencies IT spending market growth. Rapid technological advances increased the internet and smartphone penetration globally in the past decade, which played a vital role in the global online travel market size. Internet connectivity has become necessary in homes, offices, or public places. The governments of various countries, such as China, India, and others, provide free Wi-Fi networks for their citizens. With the evolution of smartphones and free Wi-Fi services, the use of the internet through mobile phones has been increasing significantly over the past decade. However, many key players in the market are trying to provide their mobile applications pre-loaded in the phones during sales, which are increasing the reach of their mobile applications. Moreover, travel companies are partnering with mobile phone companies to manufacture special edition apps and offers for certain models or brands. Such factors will drive market growth during the forecast period.
Key Online Travel Agencies IT Spending Market Trend
Increasing adoption of online payment platforms is another factor supporting the online travel agencies IT spending market growth. There is growth in the number of secure socket layer certificates among financial institutions and the banking sector, which helps secure websites and benefits customers and organizations. Companies such as Google are providing various updates to create awareness among end-users about the security offered by various websites and web pages. For instance, Google warns about unsecured pages whenever users log on to such pages. The web pages, which are not certified, come under the unsecured category. These certificates provide security to customers, which, in turn, increase the adoption of online platforms. Hence, online payments are getting popular, and the demand will increase during the forecast period. This, in turn, will increase the demand for the global online travel agencies IT spending market during the forecast period
Key Online Travel Agencies IT Spending Market Challenge
Disruptions in travel demand is one of the factors hindering the online travel agencies IT spending market growth. According to the weather conditions and other features, the price of the travel, stay, and food varies from place to place. Hence, it becomes difficult for vendors to offer efficient online travel booking services across multiple locations. Customers may book tickets and other amenities well in advance, which may later lead to cancelation due to various reasons. For instance, in 2020, most countries imposed lockdown globally due to COVID-19, which resulted in the cancelation of flights, travel bookings, hotel stays, and transfer facilities. Vendors across the world faced heavy losses due to such disruptions. These sudden disruptions adversely affect vendors in the market, as companies are liable to provide a refund for customers. Other disruptions, such as airline prices or government regulations, restrict travel to certain countries. Hence, managing losses due to disruptions becomes a significant challenge for vendors across the world.
This online travel agencies IT spending market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the online travel agencies IT spending market as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the online travel agencies IT spending market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the online travel agencies IT spending market encompasses successful business strategies deployed by the key vendors. The online travel agencies IT spending market is fragmented and the vendors are deploying growth strategies such as low-pricing and strengthening the local customer base to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The online travel agencies IT spending market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the online travel agencies IT spending market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the IT consulting and other services market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
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39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for online travel agencies IT spending market in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.
The growing baby boomer population will facilitate the online travel agencies IT spending market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 adversely impacted the aviation, tourism, and travel industries in 2020. However, the market's revenue growth is expected to recover slowly during the forecast period due to the increasing efforts by governments to support the economy and the growing control over the spread of the disease. The implementation of vaccination drives in H1 2021 has led to an increase in the demand for domestic and international travel, which will drive the growth of the market in North America during the forecast period.
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The online travel agencies IT spending market share growth by the software spending segment will be significant during the forecast period. Several hospitality and airline companies are moving to the cloud-based deployment of their IT infrastructure to reduce costs, improve the flexibility of their service, expand their service area, enhance customer experience, and adopt advanced technologies. Hence, airline and hospitality IT solutions are delivered through the software-as-a-service (SaaS) and hosted delivery models. The end-users of such solutions include airline companies, hotels, and other travel suppliers. The use of airline IT solutions improves the marketing, selling, serving, and operating functions of airline companies. Such solutions will drive the software spending segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the online travel agencies IT spending market size and actionable market insights on post COVID-19 impact on each segment.
Online Travel Booking Platform market - The market share is expected to increase by USD 943.60 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.64%.
IT Spending market by Audit Firms market - The market share is expected to increase by USD 3.14 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.52%.
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Online Travel Agencies IT Spending Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.22% |
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Market growth 2022-2026 |
$ 1.73 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
14.00 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 39% |
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Key consumer countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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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. |
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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, Market condition analysis for the forecast period |
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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. |
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***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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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