The tour operator software market was valued at US$ 667. 34 million in 2019 and is projected to reach US$ 1295. 07 million by 2027; it is expected to grow at a CAGR of 12. 3% from 2020 to 2027.
New York, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tour Operator Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Component, Enterprise Size, and Subscription Type" - https://www.reportlinker.com/p06027569/?utm_source=GNW
Mounting advancement in technology coupled with its awareness among masses that are being accepted across various industries, such as tourism industry, is driving the growth of the tour operator software market.Tourism firms help its customers organize guided tours and utilize the tour operator software to manage customer and tour information, and back-office activities.
Customers in association with tour operators can book their packages with the help of these software and track organizational aspects of tours such as scheduling, itinerary, and meals.The software also tracks the attendance of tourists and staffs, and tasks and activities of employees.
Further, tour operators are using this software to manage costs, expenses, and revenues. Hence, growing awareness of this software among tour operators and masses is driving the market growth.
As of December 2020, the US, India, Brazil, Russia, and France are among the worst affected countries in terms of COVID-19 confirmed cases and reported deaths.According to the latest WHO figures, the confirmed COVID-19 positive patient count accounted for 22,071,625 and 1,773,719 total deaths globally.
The COVID-19 outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns, which is hindering the travel and tourism sector.The temporary restrictions on the domestic and international travel by the government of different regions are also hampering the tourism sector.
In the coming months, the continuity of the outbreak would restrain the growth of the tour operator software market players.
The tour operator software market is segmented on the basis of component, enterprise size, subscription type, and geography.Based on component, the market is dominated by software segment in 2019.
The tour operator software market, by enterprise size, is bifurcated into large enterprises and SMEs.The SMEs segment is anticipated to register a higher CAGR during the forecast period owing to the growing number of small tour operators worldwide.
By subscription type, the monthly subscription segment is witnessing a higher CAGR as several small tour operators are willing to pay monthly subscriptions due to cost constraints.Based on geography, APAC and MEA are anticipated to offer lucrative growth opportunities to the market players.
The growing middle-class population and tourism locations across the countries in these regions are boosting the market growth.
The overall tour operator software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the tour operator software market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the tour operator software market.
A few major players operating in the global tour operator software market are Checkfront Inc; GP Solutions GmbH; Rezdy; Tourplan; Travefy, Inc.; TraveloPro; Trawex Technologies Pvt Ltd.; TrekkSoft (TrekkSoft Group); TRYTN, Inc.; and Xola, Inc.
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