Newly released Airline Reservation Software Market analysis report by Future Market Insights shows that global sales of the Airline Reservation Software Market in 2021 were held at USD 4.7 Bn. With 9.5%, the projected market growth during 2022 to 2032 is expected to be significantly higher than the historical growth. B2B travel portal is expected to be the highest revenue generating category, projected to register an opportunity of 9.3% CAGR 2022 to 2032.
| Attributes | Details |
|---|---|
| Global Airline Reservation Software Market Size (2022) | USD 5.2 Billion |
| Global Airline Reservation Software Market Size (2032) | USD 10.2 Billion |
| Global Airline Reservation Software Market CAGR (2022 to 2032) | 9.5% |
| USA Airline Reservation Software Market Size (2022) | USD 4.6 Billion |
| USA Airline Reservation Software Market CAGR (2022 to 2032) | 9.3% |
| Key Companies Covered | Airmax Systems; Provab ARS; VIDECOM design; SkyVantage; Results Reservation System; Kiu RES Airline Solutions Suite; Blue Sky Booking; SabreSonic Res; RezG-Package; AvAIO; Crane PAX; Sabre Airline Merchandising; Takeflite Reservation System; aeroLINE; AirKiosk system; Bird Group; iFly Res; AmeliaRES |
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As per the Airline Reservation Software Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2015 to 2021, the market value of the Airline Reservation Software Market increased at around 10.2% CAGR.
The Airline Reservation Software Market streamlines critical operations, focuses on automating resource-intensive back-office processes, and increases airline revenue through turbo-charged ancillary and e-commerce opportunities, all of which will drive market demand.
Nowadays, airline reservation software makes life easier for passengers because they do not have to stand in lines for hours to book seats; instead, they book with a single click, which drives the demand for Airline Reservation System Software Market. This software is also significantly fast and accurate, and it can be reserved or canceled at any moment and from any location.
The use of software improves efficiency and results in on-time schedule performance. It aids the vendor in the creation and maintenance of flight schedules and timings. It assists in viewing traveler lists as well as seat availability.
Despite the fact that it is a consumer-facing booking propulsion system for airline reservations, it also communicates with global distribution systems and can determine ticket prices and availability. The combination of internet penetration and smartphone use creates lucrative opportunities for the Global Airline Reservation Software Market.
Some restrictions are limiting the global airline reservation software market's growth. The poor coordination between government agencies and private enterprises in sharing data may pose additional challenges to market growth.
In 2021, North America held over 30% share of the airline reservation software market. This is due to the advent of cloud technologies by businesses. Over the forecast period, the Asia Pacific market for Airline reservation software is expected to increase substantially.
Furthermore, the availability of software on mobile phones and the increasing emergence of technological advancements are driving demand for software in North America and Europe. Similarly, demand for software in Latin America, the Middle East, and Africa, as well as Asia Pacific, is expected to rise as cloud infrastructure develops in these regions. Besides, machine learning and artificial intelligence is expected to drive the North American Airline reservation software market.
The United States is expected to account for the largest market share of USD 4.6 Bn by the end of 2032. Europe is the fastest growing country in the upcoming years. The increased demand for airline reservation software in this region is due to an increase in air passenger traffic and the growth of MICE tourism, which necessitates a comprehensive range of traveler solutions such as ticketing, check-in, and security management.
The B2B travel portal is expected to account for the largest CAGR of 9.3% between 2022 and 2032. B2B Travel Portal is an internet ticketing engine and an important tool for travel agents. It offers a white-label solution for travel agencies to gain access to real-time online reservations and availability through the user-friendly booking engine platform. Authorized agencies can log on to B2B portal, search and reserve tickets, add mark-ups, and pay for online booking with a wide range of B2B Travel Portal features.
They can view, email or download reservation vouchers or cancel the reservation for their customers from the admin booking panel at any time, and from any device. Travel agencies have opted to go for online reservations as it saves resources and also enables instant payments.
B2C Booking Engine on the other hand is an online reservation portal that offers flight, transfer, and bundle modules to demand effective B2C customers to search and make reservations. A B2C Booking Engine is an essential component of a Booking Site. It is a retail travel portal that allows businesses to gain more sales and increase revenue.
B2C Booking Engine evaluates and boosts intuition in the growth of online reservation engines. It also determines which regions are selling the most and tailors market strategy to improve and promote travel easily to end consumers. Customers believe in reservations done earlier for airways travel.
The airline industry works at the max through the B2C Booking Engine as it helps to secure seats in advance, also, choose seats and look for different fares of different airlines.
In 2021, the International Airline Booking sector held the largest market share. It is expected to account for 9.1% CAGR during the forecast period in the global market. The government's decision to launch regular flights has increased international capacity and helped to lower airfares, which have risen due to increased demand and a rise in crude oil prices.
International routes also result in higher revenue per seat. The air tickets reserved for international flights are mostly business class since the journey is longer and also, accommodated for business trips.
The domestic airline booking segment is rapidly expanding. The domestic airline booking segment's dominance can be attributed to the rise in domestic air passenger traffic as a result of increased business trips, leisure trips, and personal trips after the pandemic.
Due to the growth in the multitude of employee business trips, and widespread integration of the software in key corporations. Moreover, small and medium-sized enterprises are expected to grow faster during the forecast period as they look to adopt airline software and optimize their manual procedures in order to gain a better ROI. Furthermore, the software assists organizations in transitioning away from the traditional methods of account management and provides an automated method of maintaining ledgers.
The prominent players in the airline reservation software market are Airmax Systems, Provab ARS, VIDECOM design, SkyVantage, Results Reservation System, Kiu RES Airline Solutions Suite, Blue Sky Booking, SabreSonic Res, RezG-Package, AvAIO, Odysseus Solutions, Crane PAX, Sabre Airline Merchandising, Takeflite Reservation System, aeroLINE, AirKiosk system, Bird Group, iFly Res, and AmeliaRES.
Some of recent developments for Airline Reservation Software Market are:
In November 2021, Sabre Corporation, the leading software and technology corporation that powers the international travel industry that includes airline reservation software, announced the release of the first two products in the company's Retail Intelligence suite: Sabre Air Price IQ and Sabre Ancillary IQ, which are designed to dynamically price airfare and ancillaries, respectively.
Sabre Retail Intelligence is a suite that empowers airlines to deliver personalized travel offers through both traditional and non-traditional channels. Retail Intelligence, powered by Sabre Travel AITM - an innovative capability that integrates Sabre technology with Google Cloud's cutting-edge AI technologies and improved machine-learning services - will enable airlines to adaptively provide offers to travelers based on user preferences, marketplace insights, and purchase probability, resulting in a more personalized and better traveler experience.
In May 2022, Kiu System Solutions, a leading technology provider for the travel sector, announced that it has won a client in Colombia. Sarpa Airlines has signed contracts for the systems Kiu PSS, Kiu DCS for check-in, Kiu GDS for worldwide spread through travel companies, Kiu E-commerce, and Kiu Admin for revenue accounting. Similarly, they plan to sign up for Kiu Business Intelligence in the near future to expand their use of Kiu's suite of solutions.
Sarpa, a company with extensive experience in the aviation sector, will gain the versatility to endorse their sales strategies and, as a result, will be able to provide greater client satisfaction through new and innovative products as a result of this new tech and distribution expansion.
Similarly, more recent developments related to companies in Airline Reservation Software Market services have been tracked by the team at Future Market Insights, which are available in the full report.
The Global Airline Reservation Software Market is worth more than USD 4.7 Billion at present.
The value of the Airline Reservation Software Market is projected to increase at a CAGR of around 9.5% during 2022 to 2032.
The value of the Airline Reservation Software Market increased at a CAGR of around 10.2% during 2015 to 2021.
The growing trend of e-booking is helping to push the global airline reservations software market forward. The advancement of technology and the rise in the internet penetration rate have led to the development of e-booking systems for people's convenience.
The market for Airline Reservation Software Market in US is projected to expand at a CAGR of around 9.3% during 2022 to 2032.
Airline Reservation Software Market
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