Travel Management Systems Market – By Deployment (Cloud Based & On Premise), By Application (Manufacturing, Aerospace, Logistics, Healthcare, Energy & Others), By Component (Solutions & Services) & By Region – Sizing Global Industry, Growth, Trend, Opportunity and Forecast (2021-2027)
The Travel Management System Market report covers an in-depth analysis of market dynamics, business models, segmental / regional analysis, and respective market shares and strategies adopted by the major market players operating in the market. world. It involves in-depth analysis of factors influencing the global market and market statistics indicating market share / growth analysis by region and segment. The study of the report will present one of the most comprehensive analysis of the market, capturing all aspects of the Travel Management Systems industry.
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Travel Management System Industry Outlook
The Travel Management Systems market is expected to register a CAGR of 12.4% during the forecast period (2021-2027). The emergence of machine learning and predictive analytics and the increase in the number of business applications are the key factors that are expected to drive the growth of the travel management market. Travel management system software is expected to be adopted in various end-use industries due to the growing need to track and manage expenses in organizations.
Dynamics of Travel Management System Industry
- End-use industries focus on lowering costs and operating expenses by installing travel management system software, which is one of the major growth factors in the global market.
- The increasing penetration of smartphones has driven the adoption of travel management system software across the world.
- Advances in technology have resulted in a decrease in duplicate entries, which was a major challenge in traditional systems. This factor is expected to fuel the growth of the travel management systems market.
- Companies are facing challenges in installing cloud-based travel management software which is expected to hamper the growth of the global market.
- Data security is expected to hamper the growth of the travel management systems market.
Impact of COVID-19 on the Travel Management Systems Market
The global impacts of COVID-19 are significantly affecting the travel management systems market. COVID-19 is expected to significantly influence the supply chain and the service industry. The changes in regulatory policies and the significant impacts on the transportation industry can have substantial consequences on the growth of the Travel Management Systems Market.
Scope of the report
The report presents the global Travel Management System market research based on deployment, end-use industry, and components.
On the basis of deployment, the Travel Management System market has been segmented into –
On the basis of end use industry, the Travel Management System market has been segmented into –
- Health care
On the basis of component, the Travel Management Systems market has been segmented into –
Travel Management Systems Market: Regional Outlook
Based on the region, the global travel management systems market has been segmented into five geographic regions namely, North America, Asia-Pacific, Europe, South America, Middle East and Africa. In 2020, North America held the largest share of the global travel management systems market, followed by Europe and Asia-Pacific. Europe is also estimated to hold a significant share of the world market due to the growing number of tourists to the region. In addition, Asia-Pacific is expected to grow at a high CAGR during the forecast period.
The major competitors in the Travel Management Systems Market include –
The global travel management systems market is highly fragmented, with a large number of small players across the globe. The major companies operating in the global travel management systems market are
- Travel port
- CTMS Travel Group
- Signaling circuits
- Reserve assets
- Expedia Group
- Wexas Travel Management
- Tuniu Corp
- TUI Group
The Travel Management System market report extensively analyzes the macroeconomic factors and attractiveness of each segment in the market. The report will comprise an in-depth qualitative and quantitative assessment of the segmental / regional outlook with the presence of the market player in the respective segment and region / country. The information concluded in the report includes contributions from key interviews with industry experts.
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The Travel Management System Market Report Covers Comprehensive Analysis On:
- Market segmentation and regional analysis
- 10 year market size
- Price Analysis
- Supply and demand analysis
- Product lifecycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Market opportunities, risks and trends
- Conclusion and recommendation
- Regulatory landscape
- Patent analysis
- Competition landscape
- 15+ company profiles
Regional Analysis Of Travel Management Systems Market Include:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, rest of the MEA
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Travel Management Systems Market: Target Audience
- Travel Management System Service Providers
- Travel Management System Solution Providers
- Research institutions and universities
- Specialized publications and magazines
- Government authorities, associations and organizations
Main issues addressed
- What is the market size by various segmentations of Travel Management System by region and their respective countries?
- What is the purchasing behavior of customers, key takeaways, Porter’s 5 forces, and the supply chain of the Travel Management Systems Market?
- What are the key trends and opportunities for OEMs and Tier 1 vendors in the Travel Management Systems market?
- What are the key dynamics (drivers, restraints, opportunities and challenges) of the market?
- What and how are regulations, programs, patents and policies impacting market growth?
- What are the upcoming technological solutions influencing market trends? How will existing service providers adapt to changing technological trends?
- How will advanced autonomous technologies impact the travel management systems market?
- What is the impact of COVID-19 on the demand and sales of travel management systems in the global market?
- How has COVID-19 impacted the demand and sales of travel management systems in the global market? Also, the expected number of decrease or increase in the market BPS and the period of recovery expected by the market.
- Detailed analysis of competitors and their latest launch, and what are the top startups introduced in the target market? In addition, detailed profiling of more than 25 leading and eminent companies in the market.