Travel arrangement companies are increasingly using IoT technologies in providing customized options to customers for flight and accommodation bookings. Travel aggregator websites search for the best deals across multiple websites and lists the results on a web page and most of the airline companies are also using IoT technologies right from locating a traveler in emergency situations to finding a missing passenger who hasn’t board the flight yet. More than 89% airlines are looking forward for immense changes over the next three years with IoT technology in the travel industry.
The travel arrangement and reservation services market comprises travel agents including passenger transport services, air travel services, road transport services, rail transport services, sea transport services, car hire services, booking and reservation of travel services, travel ticket reservation services, tourist travel information services, sightseeing tour and cruise arranging services, package holiday services for arranging travel, air transport services, transport and delivery of goods services.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL TRAVEL ARRANGEMENT AND RESERVATION SERVICES MARKET AT $451 BILLION IN 2017
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North America was the largest geographic region in the market, accounting for one-third of the global market. The USA was the largest country accounting for more than one-fourth of the global travel arrangement and reservation services market.
The chart below shows the year-on-year growth of the global travel arrangement and reservation services market during 2017-2021: –
According to The Business Research Company’s Consultant, Nitin Gianchandani, Artificial Intelligence(AI) helps to analyze unstructured data, brings value in partnership with Big Data into meaningful and actionable insights. Trends, outliers and patterns are figured out using this which helps in guiding a Travel company to make decisions. The discounts, schemes, tour packages, seasons and people to target are formulated using this data.
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The travel arrangement and reservation services market is segmented into Travel Agencies; Tour Operators; Convention And Visitors Bureaus; Other Travel Arrangement And Reservation Services.
Travel Agencies comprises establishments primarily engaged in acting as agents in selling travel, tour, and accommodation services to the general public and commercial clients.
Tour Operators comprises establishments primarily engaged in arranging and assembling tours. The tours are sold through travel agencies or tour operators. Travel or wholesale tour operators are included in this industry.
Convention And Visitors Bureaus comprises establishments primarily engaged in marketing and promoting communities and facilities to businesses and leisure travelers through a range of activities, such as assisting organizations in locating meeting and convention sites; providing travel information on area attractions, lodging accommodations, restaurants; providing maps; and organizing group tours of local historical, recreational, and cultural attractions.
Other Travel Arrangement And Reservation Services comprises establishments (except travel agencies, tour operators, and convention and visitors bureaus) primarily engaged in providing travel arrangement and reservation services.
Travel Arrangement and Reservation Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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