Scope of the Study
The global revenue management system for travel market is expected to grow at a healthy pace during the forecast period, according to the AMA study. High demand for corporate travel across the world, rising demand from booming tourism industry, and rising demand for operational efficiency for travel service providers are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness some decline in the growth in 2020 due to the current pandemic but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The market study is being classified, by Application (Sales Reports, Tariffs Management, Revenue & Expenditure Rates, Sales Limits Management, Data Management and Others) and major geographies with country level break-up.
Accelya Holding World S.L. (Spain), Amadeus IT Group SA (Spain), Atomize (Sweden), AxisRooms (Malaysia), GenX eSolutions (India), Oracle (United States), PriceLabs (United States), RateGain (India), Revfine.com (Netherlands), Sirena-Travel (Russia), SunTec (India) and TrekkSoft (Switzerland) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States, India, Spain Players will contribute to the maximum growth of Global Revenue Management System for Travel market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Revenue Management System for Travel market by Type, Application and Region.
On the basis of geography, the market of Revenue Management System for Travel 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- High Demand for Corporate Travel
- Rising Demand from Booming Tourism Industry
- Rising Demand for Operational Efficiency
- Implementation of Artificial Intelligence in the Revenue Management System
- Short Term Restraint for the Market Due to Shutting Down of Operations & Process of Different Companies Across Different Parts of the World Due to COVID-19 Pandemic
- Opportunities in the Asia Pacific Region Owing to Rising Number of Travelers
- High Cost of Solutions
- Short Term Challenges Due to Stopped Travelling and Transportation Across the World for a Certain Period of Time to Stop the Outspread of COVID-19
Stringent Worldwide Government Regulations Regarding Lockdown of Cities' & States' Operations Leading to Significant Decline in the Growth of the Market in 2020
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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