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.
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.
Players operating in the tour operator software market are mainly focused on the development of advanced and efficient products.
The regional trends and factors influencing the Tour Operator Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Tour Operator Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 574.25 Million |
| Market Size by 2027 | US$ 1,295.07 Million |
| Global CAGR (2020 - 2027) | 12.3% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Tour Operator Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Tour Operator Software Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Tour Operator Software 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, drive the adoption of the tour operator software.
The tour operator software market is led by large enterprise segment with highest share and is expected to dominate in the forecast period. Organizations with more than 50 employees are classified as large enterprises. These enterprises have their clients across several regions as well as account for high market shares, technical knowledge, as well as effective business strategies. These large enterprises invest a significant amount in innovative and latest technologies to operate their business effectively. The benefits conferred by tour operator software for large enterprise are MS texting and live chat for sales, support & ops teams; B2B booking platform for travel agents; and reservation, accounting and marketing for travel agencies.
With the presence of several scenic destinations in the developing economies, there is growth in the tourism sector along with the adoption of tour operator software in these economies. For instance, Nepal is leveraging the tourism sector owing to the presence of Himalayan and Mt. Everest ranges. Nepal tourism offers robust services for Dolpo Trek, Simikot Trek, and to sightsee various hidden valleys in Nepal. Additionally, India’s Goa Tourism Development Corporation (GTDC) announced its plan to have a heli-tours, and the project was commissioned by the Government recently. Therefore, these tourism developments boost the adoption of tour operator software, which facilitates tour operators to offer attractive tour packages to these places. It is anticipated that the introduction of tour operator software will be adding another attraction to the adventure tourism portfolio in the developing economies. This anticipated to offer ample growth opportunities for the global tour operator software market players.