The travel arrangement and reservation services market comprise 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.
Travel Arrangement and Reservation Services Market Size
The global travel arrangement and reservation services market was valued at $450.7 billion in 2017. North America was the largest geographic region accounting for $159.5 billion or 35.4% of the global market. The USA was the largest country accounting for 27.4% of the global travel arrangement and reservation services market.
Travel Arrangement and Reservation Services Market Trend
Travel arrangement companies are increasingly using IoT technologies in providing customised 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 companies covered are Carlson Wagonlit Travel, American Express, BCD Travel, Expedia, and Priceline Group.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Travel Arrangement and Reservation Services Market Segmentation
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.