Publication Month: Jan 2021 | Report Code: TIPRE00014987 | No. of Pages: 154 | Category: Technology, Media and Telecommunications | Status: Published
Mounting tourism industry globally with positive economic outlook is attributing to the growth of the market. The growth of the tourism sector is influenced by factors such as GDP growth, size of the economy, travel infrastructure development, industry mix, population, and regulatory policies. These factors vary from one country to another and affect the travel investment in that particular country. The tourism industry has spurred stupendously over the years and is at a constant rise. The demand for tourism among every class of society has led to the emergence of various types of tourism, such as roadways tourism, waterways tourism, and aerial tourism, among which roadways tourism has dominated the industry for a long period. Increasing disposable income among the masses in developed as well as developing countries has resulted in rising adoption of tour operators to book their tour by opting fascinating offers. Further, the GDP growth in developing countries such as China and India is expected to offer ample opportunities for the market growth in the coming years. With positive global economic outlook, investments in travel infrastructure, growth in SMEs, huge cross border trade volumes, and stabilizing political conditions, the spending on tourism is expected to increase over the next few years around the globe. With increasing globalization and cross border trade, the spending on tourism is also rising. These factors have positively impacted the growth of the tour operator software market.
The emergence and rapid spread of coronavirus (COVID-19) has paralyzed numerous countries including developed as well as developing. The continuous surge in count of infected patients is threatening several industries across the globe. As of December 2020, United States, India, Brazil, Russia, and France, are some of the worst affected countries in terms confirmed cases and reported deaths. The coronavirus outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Since majority of the countries are exercising lockdowns, which resulted in the negative impact on the travel and tourism sector. The temporary restrictions on the domestic and international travel by the government of different regions, is also showcasing negative trend in the tourism sector. The continuity of the COVID-19 spread, would be severely dangerous for tour operator software market players.
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The increasing integration of artificial intelligence (AI) for the enhancement in the overall process of booking attractive tour package through operators, which is boosting the adoption of tour operator software. The adoption of AI and robotics in the tourism industry is boosting the customer experience and services offered by the tour operator. With the introduction of artificial travel intelligence, the travel arrangements for the passenger is furthered enhanced to meet their expectations. It also offers superior travel services, which are customized, automated, and insightful. The integration of AI permits the tour operators to study the interests and behaviors of the travelers and offer enhanced experience. The AI in the travel and tourism industry focuses majorly on the customer engagement and service, to further boost the travel experience of the travelers. The emerging AI technologies, such as Chatbots, language translators, and virtual reality in the tourism sectors, are positively impacting the travel, tourism, and hospitality industry. Thus, the rising integration of AI is further boosting the tourism sector across the world.
Based on component, the tour operator software market is segmented into software, services. The software segment held the largest market share in 2019.
|Market Size Value in||US$ 574.25 Million in 2020|
|Market Size Value by||US$ 1295.07 Million by 2027|
|Growth rate||CAGR of 12.3% from 2020-2027|
|No. of Pages||154|
|No. of Tables||83|
|No. of Charts & Figures||80|
|Historical data available||Yes|
|Segments covered||Component , Enterprise Size , and Subscription Type and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Players operating in the tour operator software market are mainly focused on the development of advanced and efficient products.
The List of Companies - Tour Operator Software Market