Description
Travel Management System Market- by Deployment (Cloud-Based and On-Premises), by Application (Manufacturing, Aerospace, Logistics, Healthcare, Energy, and Others), by Component (Solutions and Services), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)
The travel management system market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive analyses of the market, capturing all the travel management system industry aspects.
Travel Management System Industry Outlook
The travel management system market is expected to register a CAGR of 12.4% during the forecast period (2021-2027). The emergence of machine learning & predictive analytics and the rise in the number of business applications are the key factors expected to boost the growth of the travel management market. The travel management system software is expected to be adopted in the various end-use industries due to the increasing need to track and manage expenses in the organizations.
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Travel Management System Industry Dynamics
- End-use industries are focusing on reducing operational costs and expenses through installing travel management system software, which is one of the major factors for the growth of the global market.
- The increasing penetration of smartphones has boosted the adoption of travel management system software across the globe.
- Advancement in technology has led to a decrease in duplicate entries, which was a major challenge in the traditional systems. This factor is estimated to fuel the growth of the travel management system market.
- Enterprises are facing challenges in installing cloud-based travel management software, which is estimated to impede the global market growth.
- The safety of data is projected to hamper the growth of the travel management system market.
Impact of COVID-19 on Travel Management System Market
The global impacts of the COVID-19 are significantly affecting the travel management system market. COVID-19 is projected to influence the supply chain and services industry dramatically. Changes in regulatory policies and significant impacts on the transportation industry may have substantial consequences for the travel management system market growth.
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Scope of the Report
The report outlines the global travel management system market study based on deployment, end-use industry, and components.
Based on the deployment, the travel management system market has been segmented into –
- Cloud-Based
- On-premise
Based on the end-use industry, the travel management system market has been segmented into –
- Aerospace
- Healthcare
- Energy
- Manufacturing
- Logistic
- Others
Based on the component, the travel management system market has been segmented into –
- Solutions
- Services
Travel Management System Market: Regional Outlook
Based on the region, the global Travel Management System Market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, North America held the largest share in the global travel management system market, followed by Europe and Asia-Pacific. Europe is also estimated to hold a significant share in the global market due to the increasing number of tourists across the region. Moreover, Asia Pacific is expected to grow with a high CAGR over the forecast period.
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Travel Management System Market Key Competitors Includes –
The global travel management system market is highly fragmented, with a large number of small players across the globe. The key companies operating in the global travel management systems market are
- Travelport
- CTMS Travel Group
- Signal Tours
- Booking Holdings
- Elong
- Expedia Group
- Wexas Travel Management
- Ctrip
- SMT
- Tuniu Corp
- TUI Group
- Wings
- Qunar
- NetSuite
- Nexonia
- Fraedom
The travel management system market report thoroughly analyzes macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market player’s presence in the respective segment and region/country. The information concluded in the report includes the inputs from primary interviews with industry experts.
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Travel Management System Market Report Covers Comprehensive Analysis On:
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
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