Log In

 

Company Name : Frost & Sullivan

Tuesday, September 12, 2017 2:10PM IST (8:40AM GMT)

Rise in Global Travel and Adoption of Cloud Solutions Drive Growth in SME Travel Technology Market


Customizable, all-in-one enterprise travel solutions will compound growth opportunities, finds Frost & Sullivan's Digital Transformation team


Mumbai, Maharashtra, India

The global travel market is flourishing. Growth is driven by several factors, including airport expansion in tier 1 and 2 cities, high demand in emerging economies, government infrastructure development, a rise in disposable income, and adoption of cloud technology by enterprises for travel solutions and analytics. A major challenge has been the lack of awareness about solutions and how to they can be leveraged. Successful travel solutions providers will be those that offer multiple try-before-you-buy, customizable, all-in-one solutions that integrate with internal finance teams while providing a uniform experience across all platforms.

“Global small-to-medium travel enterprises (SMEs) are looking toward travel solutions that provide new sources of revenue and act as a business enabler by streamlining their budget and aiding new growth opportunities,” said Gowtham Bandi, Senior Consulting Analyst, Digital Transformation (ICT) Practice, Frost & Sullivan. “Cloud travel solutions enable a platform for the enterprise to grow while trying new solutions at minimum cost.”

Global Travel Technology Market - Opportunity and Trends by Industry and Enduser examines global trends, challenges, and opportunities within the travel technology market with particular focus on India’s small-to-medium enterprise (SME) travel market. Car rental, retail, aviation, and cloud solutions are assessed in this analysis too.

To access more information on this analysis, please click here.

Developments and trends driving growth in the global travel technology market include:

  • Focusing on customer experience and pricing transparency by travel solution providers;
  • Building price and convenience orientated integrated solutions concentration on SME markets;
  • Providing packed solutions to ensure high cohesion with expense and invoice management solutions; and
  • Travel solution market’s evolution into a technologically equipped and sophisticated sector.
“In time, customer’s interaction channels will become commoditized and global travel technology’s focus will move toward providing the right price and automating process,” noted Bandi. “Personal assistance through artificial intelligence enabled platforms, advanced invoicing and expense management solution capabilities, and mega search sites will be some of the trends driving the future travel industry.”

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Website: http://ww2.frost.com

Twitter: @Frost_Sullivan
Facebook: http://www.facebook.com/frostandsullivan
LinkedIn: https://www.linkedin.com/company-beta/4506/
 


Click here for Media Contact Details

Priya George, Corporate Communications, Frost & Sullivan, +91-9840355432, +91 (44) 66814414, priyag@frost.com


More News from Frost & Sullivan

13/09/2017 5:10PM

Construction Boom Boosts Adoption of Bituminous Waterproofing Membranes in India

Frost & Sullivan's "Indian Bituminous Waterproofing Membranes Market, 2017" finds that APP waterproofing membranes hold the largest segment with 54% of the market in 2015, while SBS waterproofing membranes are the ...

11/09/2017 4:52PM

Frost & Sullivan to Honor Global Icon and Indian Industrialist Mr. Kumar Mangalam Birla at its Growth Innovation & Leadership (GIL) India 2017 Summit

Frost & Sullivan is all set to honor Kumar Mangalam Birla, Chairman, Aditya Birla Group, with the “2017: GIL Visionary Leadership Award” at its flagship Summit – "GIL India 2017". He joins an elite roster of ...

07/09/2017 12:15PM

Smart Technology Boosts Energy-efficient Solutions for India's Screw Compressors Market

Frost & Sullivan's “India Screw Compressors Market Outlook, 2017” evaluates macroeconomic and socio-political developments and analyses existing and upcoming government policies and their impact on the sector's growth. ...

Similar News

21/09/2017 10:30AM

DigitalOcean Launches Spaces for Easy, Scalable and Persistent Object Storage

DigitalOcean, the cloud for developers, today announced the release of its object storage product: Spaces. In conjunction with today's news, the company also released the results of DigitalOcean Currents, its inaugural ...

No Image

21/09/2017 10:25AM

OT-Morpho Will Provide the Subscription Management Solution for Deutsche Telekom Group

OT-Morpho, a world leader in digital security and identification technologies, announces that it has been selected by Deutsche Telekom AG (DTAG), a leading mobile network operator, to provide the first group wide ...

@Frost_Sullivan: Customizable all-in-one #enterprise #travel sols will compound growth opps in #SME travel tech mkt https://goo.gl/U2gFfx

Tweet this

News Summary

Frost & Sullivan's "Global Travel Technology Market - Opportunity and Trends by Industry and Enduser" examines global trends, challenges, and opportunities within the travel technology market with particular focus on India’s small-to-medium enterprise (SME) travel market. Car rental, retail, aviation, and cloud solutions are assessed in this analysis too.