What is Travel Software Market Scope?
Travel software offers users a platform for planning, purchasing, and recording travel expenses. Companies use this software to simplify purchasing decisions, centralize records of employee travel expenses, and control corporate travel budgets. Travel software provides users with a tool for booking and automatically reporting their travel purchases, rather than using individual agents or submitting self-purchased receipts to an expense management product. Moreover, this software improves visibility between managers and employees regarding corporate travel and allows accountants and managers to run reports and reimburse employees.
The Travel Software market study is being classified, by Application (Personal and Corporate) and major geographies with country level break-up.
Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Travel Software market throughout the predicted period.
SAP SE (Germany), Oracle Corporation (United States), TripActions (United States), NetSuite (United States), Lola (United States), Expensify (United States), Chrome River Technologies (United States), Infor (United States), Apptricity Corporation (United States), Ariett (United States) and Vacation Innovations (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Basware (Finland), DATABASIC (United States), Expense 8 (Australia), Sabre Corporation (United States), Fraedom (United Kingdom), Trippeo Technologies (Canada), Insperity (United States), Interpix, (United States), Unit 4 (Netherlands), Nexonia (Canada) and Paychex (United States).
Analyst at AMA have segmented the market study of Global Travel Software market by Type, Application and Region.
On the basis of geography, the market of Travel Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
On 1st October 2020, Vacation Innovations, a leading provider of travel-related products, software, and services has announced its acquisition of Holiday Systems International (HSI), an established travel technology solutions provider and membership platform with a 27-year history of innovation in the travel industry.
On 3rd November 2020, Sabre Corporation has a leading software and technology provider that powers the global travel industry, has announced an enhancement to its agreement with Qantas that will offer agents access to richer information about the airline’s fares, products and services.
Influencing Market Trend
- Growing Demand for Various Features such as Self Booking Application
- Constant Technological Innovations
- Emergence Of Software as a Service
- Growing Number of International Traveler
- Rising Demand for Digitalization in Small Organization across the Globe
- Growing Demand due to Broder Access to the Traveling Portal
- Technological Advancement in the Travel Software
- Lack of Expertise for in Installation with Associated Technique
- The Growing Concern Regarding Privacy and Security Issues
Key Target AudienceTravel Software Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
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