Tour Operator Software Market Key Players, Application, Demand, Industry Research Report by Regional Forecast to 2027, The Insight Partners

According to our latest market study on "Tour Operator Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Component (Software and Services), Enterprise Size (Large Enterprises and SMEs), and Subscription Type (One Time Subscription, Monthly Subscription, and Annual Subscription)," the market was valued at US$ 574.25 million in 2020 and is projected to reach US$ 1,295.07 million by 2027; it is expected to grow at a CAGR of 12.3% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

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.

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Rising globalization, increasing trade volumes, and positive economic outlook are a few of the major macroeconomic factors driving the growth of the tourism market. Growing digitalization of payments and travel bookings is another important reason that is increasing the demand for travel solutions across the world. In the past 5 years, the launch of new tourist destinations offered lucrative opportunities in the global travel and tourism industry. With rising number of tourism operators, there is an increasing demand for fascinating tours packages. Travel technology software are used across the hospitality and travel industry to provide information along with communication technology to the user, which is driving the growth of the tour operator software market.

The Prominent Players are:

•Checkfront Inc
•GP Solutions GmbH
•Rezdy
•Tourplan
•Travefy, Inc.
•TraveloPro
•Trawex Technologies Pvt Ltd.
•TrekkSoft (TrekkSoft Group)
•TRYTN, Inc.
•Xola, Inc.

Players operating in the tour operator software market are mainly focused on the development of advanced and efficient products.

In 2020, GP Solutions GmbH and ComBtas had established a strategic partnership. This alliance is intended for customers present in the Israeli market. With this collaboration, ComBtas would promote GP Solutions' turnkey products including GP travel enterprise and GP travel hub.

In 2020, Travefy, Inc. had launched a website builder for travel advisors. The website builder enables the advisors to create websites or a marketing landing page. The website builder uses a drag and drop interface, and advisors can choose a theme, customize the content, and custom URLs can be used. Further, the tool is included with the subscription plan.

Impact of COVID-19 Pandemic on Tour Operator Software Market

The emergence and outbreak of COVID-19 is adversely affecting numerous developed and developing countries. As of December 2020, the US, India, Brazil, Russia, and France are among the worst affected countries in terms confirmed cases and reported deaths. The outbreak is hindering economies and numerous industries in various countries due to lockdowns, travel bans, and business shutdowns. Lockdown across many countries is hampering 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 the tour operator software market players in the coming years.

The research provides answers to the following key questions:

1.What is the estimated growth rate of the market for the forecast period 2020-2027? What will be the market size during the estimated period?
2.What are the key driving forces responsible for shaping the fate of the AI in Auto Insurance market during the forecast period?
3.Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the AI in Auto Insurance market?
4.What are the prominent market trends influencing the development of the AI in Auto Insurance market across different regions?
5.What are the major threats and challenges likely to act as a barrier in the growth of the AI in Auto Insurance market?
6.What are the major opportunities the market leaders can rely on to gain success and profitability?

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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.

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AI in Auto Insurance Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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