According to The Insight Partners’ research, the tour operator software market was valued at US$ 667.34 million in 2019 and is likely to reach US$ 1,295.07 million by 2027 to rise at a stellar annual growth of 12.3% from 2020 to 2027. The mounting tourism industry worldwide with a positive economic outlook and increasing awareness of tourism firms are the factors surging the market expansion.

The growth of tourism sector in any country is majorly influenced by GDP, size of economy, travel infrastructure, population, and regulatory policies. The demand for tourism among every class of society has led to the emergence of roadway tourism, waterway tourism, and aerial tourism; of which, the roadway tourism dominated for a long period. Increasing disposable income in both developed and developing countries largely favors the tours and travels. With a positive global economic outlook, investments in travel infrastructure, growth in SMEs, cross-border trade volumes, and stabilizing political conditions, the expenditure on tourism is expected to surge over the next few years globally.

Technology advancements to simplify management processes in the tourism industry led to the adoption of tour operator software in the global market. Tourism firms use these software to organize guided tours, manage tour information, and co-ordinate the locations & back-office activities. Also, customers in association with tour operators can book their packages with the help of these software and track schedules, itineraries, arrival & departure, meals, etc. Besides, the tour operators can manage costs, expenses, and revenues with the help of the software. Thus, growing awareness about the software among the tour operators with the factors mentioned above spur the global tour operator software market.

Despite the driving parameters, concerns pertaining to the secured transactions and privacy impede the growth of global tour operator software market.

Based on component, the market is split into software and services. The former held 81.8% market share in 2019. It amassed US$ 546.05 million in 2019 and is projected to garner US$ 1,130.61 million by 2027 to expand at a CAGR of 13.2% during 2020–2027.

According to the size of enterprise, the tour operator software market sphere is bifurcated into small & medium enterprises (SMEs) and large enterprises. With 57.4% market share, the large enterprises segment led the domain in 2019. It generated US$ 382.85 million in 2019 and is estimated to accrue US$ 703.64 million by 2027 to grow at 11.6% CAGR for the forecast period.

As per subscription type, the global tour operator software market is fragmented into one-time subscription, monthly subscription, and annual subscription. The monthly subscription segment captivated 63.9% market share in 2019. It was assessed at US$ 426.23 million in 2019 and is speculated to be worth US$ 852.24 million by 2027, registering a CAGR of 12.7% throughout the forecast period.

Coming to the regional analysis, North America dominated the market occupying 41.8% share of the domain. It was evaluated at US$ 279.19 million in 2019 and is expected to hit US$ 485.67 million by 2027 to feature a CAGR of 10.8% over the forecast period. Meanwhile, Asia Pacific is growing rapidly at 14.4%. The regional market amounted to US$ 139.03 million in 2019 and is anticipated to soar to US$ 313.31 million by 2027.

Key players leading the global tour operator software market are Checkfront Inc; GP Solutions GmbH; Rezdy; Tourplan; Travefy, Inc; TraveloPro; Trawex Technologies Pvt Ltd; TrekkSoft (TrekkSoft Group); TRYTN, Inc; and Xola, Inc, among others.

·         In October 2019, Checkfront Inc became the first booking system to offer a choice of payment model by adding a new fee-based pricing plan to their subscription offerings. It is a commission-based pricing model that allows tour operators to choose the best payment model for their organization.

·         In March 2020, GP Solutions partnered with ComBtas to target the consumer pool in Israeli market. ComBtas would promote GP Solutions’ turnkey products, including GP travel enterprise and GP travel hub.

·         In July 2018, Tourplan launched next-generation Tourplan NX software with new client implementations and existing client migrations. The information of all the suppliers, products, rates, agents, quotes, bookings, and accounts is instantly accessible using the software with no requirement of data re-entry.