PUBLISHER: Allied Market Research | PRODUCT CODE: 1447192
PUBLISHER: Allied Market Research | PRODUCT CODE: 1447192
Travel agencies, travel management firms, and other travel service providers use technological platforms and networks to access and distribute travel-related content and services. This market is known as the global distribution system (GDS) market. GDS serve as interface bringing together providers including hotels, rental car agencies, airlines, and travel agencies to ease information sharing, reservation-making, and transaction processing. Additionally, companies in this market provide all-inclusive platforms that compile and present current travel inventory, such as flight times, hotel availability, rental car choices, and cost details. Travel agencies and other users are endowed to search, evaluate, and make reservations for travel services on behalf of their clients with the help of these platforms. GDS platforms connect users with a global network of suppliers and travel-related content, making them renowned for their broad reach. The entire travel booking experience is improved by these platforms as it expedites the reservation process, automate procedures, and facilitate effective communication between travel agents and service suppliers. Furthermore, the growing complexity of the travel sector and the rising demand for travel are the main drivers of the worldwide distribution system market. GDS platforms are essential for streamlining the booking process, giving users access to a large variety of travel options, and guaranteeing accurate and current information as the travel industry grows more varied and competitive.
Surge in rising levels of globalization and modernization of technology primarily drives the growth of the distribution system market. However, rising implementation costs and complexity and the difficulty of integration hamper market growth to some extent. Moreover, enhanced effectiveness and output is expected to provide lucrative opportunities for market growth during the forecast period.
On the basis of component, software segment dominated the Distribution system market in 2022 and is expected to maintain its dominance in the upcoming years owing to the offer businesses the ability to manage record, handle logistics, track orders, and also analyze data, between other tasks propels the market growth significantly. However, the services segment is expected to witness the highest growth, owing to organization to help organizations leverage the data generated by the global distribution system to optimize their operations, gain valuable insights, and make informed decisions.
The distribution system market is segmented on the basis of component, application and region. On the basis of component, it is divided into software and services. On the basis of application, it is fragmented into hotels and resorts, cruises, car rental, aviation, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Region-wise, the distribution system market size was dominated by North America in 2022 and is expected to retain its position during the forecast period, owing to the increased focus on technological advancements and infrastructure development aiding the growth of the distribution system market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the increased need for strong distribution networks and efficient order fulfillment processes, which is expected to fuel the market growth in this region.
The key players operating in the market are Amadeus IT Group SA, Sabre GLBL Inc., Travelport, Pegasus, TravelSky Technology Limited., Sirena-Travel JSC, SiteMinder, INFINI, TravelPerk and kiu system solutions. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.
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