As per the latest report by Transparency Market Research, the global distribution system market is expected to reach an overall valuation worth US$14.5 bn by the fall of 2027. To achieve this market valuation, the global distribution system market will exhibit a CAGR of 5.5% during the course of the given forecast period of 2019 to 2027. In recent years, the global distribution systems have been acting as a bridge between the tour operators and travelers with the help of centralized servers. These global distribution systems help in cover the bookings of car rentals, hotel rooms, and airline tickets among other services. Thus, such factors have been working as key driving factors for the growth of the global distribution systems market.
Increasing Preference Towards Service-based System is Key for Market Growth
Travel agents generally prefer a software-driven global distribution system instead of a service-based system. One of the biggest reason for this preference is the ‘anytime anywhere’ access provide by the platform. With the advent of the cloud-based distribution systems, it is expected that the high expense of physical hardware will slowly decrease. This is also expected to further scale up the popularity of the software to develop more efficient global distribution systems. This is also expected to further fuel the growth of the global market.
There are however some factors that are slowing down the growth of the global distribution system market. One of the key restraining factor for market growth has been the increasing hassle with respect to constant upgrades for systems software. Nonetheless, this hassle is expected to act as a blessing under disguise with more and more leading players likely to prefer outsourcing these distribution system upgrades. This is expected to create huge business opportunities for other companies operating in the global distribution system market.
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Market Leaders Concentrating on Developing Efficient User Experience
The competitive landscape of the global distribution system market is a consolidated one with the presence of a few notable brands. The leading players in the market keep a close eye on the consumer sentiment in order to stay more competitive in the global market. Since, most of the customers today, have become tech savvy and compare the choice before making the final purchase, these leading players in the market are enhancing the ways they provide services to the end-users. Majority of the players are now upgrading their services, removing the tedious and basic flaws in the booking process, and introducing search criteria for guiding the users towards their desired products.
The demand for travel agents for getting the desired reservations for leisure travels or for a business trip has been on the rise. This has been working in favor of driving the growth of the global distribution system market. Since the technology is key for the developing more efficient global distribution platforms, leading travel agencies are now entering into agreements and joint ventures with the established tech companies with an objective to provide a smooth and an end to end user experience.
In addition to this, these companies are also exploring the opportunities of cross selling or up-selling in the market. These opportunities serve as an important medium to bring in more revenue. Along with this, these leading companies in the market are taking considerable efforts to simplify the existing complicated environment of the global distribution system market.
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