08-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Tour Operator Software Market By Deployment (Cloud-Based and On-Premise) and By Application (Workflow Automation, Third-Party Integration, Itinerary Management, Customer Management, and Accommodation Booking): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026”. According to the report, the global tour operator software market is anticipated to be valued at approximately USD 500 Million in 2020 and is projected to hit the revenue of around USD 1,200 Million by 2026, at a CAGR of around 12% between 2021 and 2026.
Tour operator software assists the firms in the tourism sector to expand their business in a cost-effective manner. It helps the firms in providing proficient online booking services to the customers. It is a type of customer relationship management software that enhances the customer service relations of the firm and develops the interaction of the firm with the potential customers along with assisting in inflating the business growth of the firm.
Browse the full “Tour Operator Software Market: By Deployment Mode (Cloud Based and On-Premises), By Enterprise Size (Large Enterprises and Small & Medium Enterprises (SMEs)), By Subscription Type (One-Time Subscription, Monthly Subscription, and Annual Subscription), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/tour-operator-software-market
Moreover, it handles back-office operations, bookings, and accounting functionalities of the firm. It also aids the firm in effectively handling the inventory and group travel along with helping the organization to generate a tourism or travel business package.
The growing acceptance of IoT technology to steer market growth
Rise in the acceptance internet of things by the firms involved in the tourist activities is likely to impel the growth rate of the tour operator software industry over the forecast timeline.
Furthermore, the introduction of new technologies in the traveling & tourism sector is likely to drive the market demand over the forecast period. Apart from this, low operational costs and the growing importance of tourist activities will propel the growth of the tour operator software industry over the forecast timeline. Nonetheless, using of conventional methods for maintaining the itineraries and need for customer engagement & retention activities will pose a threat to the growth of the market over the forecast timeline.
Cloud-based segment to contribute massively towards the overall market growth
The growth of the cloud-based segment is due to the ability of the cloud-based computing technology to raise the capacity, increase functionality, and append new services on demand without incurring extra infrastructural costs.
Work automation segment to dominate the application landscape in terms of revenue
The growth of the segment is due to its utilization in enhancing routine business activities. Apart from this, workflow automation allows the teams to allocate more time on the key work and lesser time on the procedures supporting them. In addition, the firms that produce workflow automation possess enhanced work efficiency, save time & revenue, and reduce the probability of occurrence of errors in business functions or processes.
Europe to contribute major revenue share of the overall market by 2026
The growth of the market in the region is due to the presence of strong IT base having highly skilled professionals offering software that fulfill the customer demand across both the local and global regions. Countries like the UK, Italy, and Germany are likely to be the key regional revenue pockets.
Key players involved in the tour operator software industry include Checkfront, Inc., Dolphin Dynamics, Globe Track, eMinds, Lemax Ltd., Orioly, ResRequest, Rezdy, SAN Tourism Software Group, Thasa Technologies (Pty) Ltd., Tourplan, Tourwriter, Travelogic, Trawex, TrekkSoft, and ViaTour Software.
This report segments the tour operator software market as follows:
Global Tour Operator Software Market: By Deployment Segment Analysis
Global Tour Operator Software Market: By Application Segment Analysis
- Workflow Automation
- Customer Management
- Itinerary Management
- Third-Party Integration
- Accommodation Booking
Global Tour Operator Software Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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