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Tour Operator Software Market Research Introduction [2023-2031]A Comprehensive Brief Of The Industry
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The Tour Operator Software Market Shown: Exploring the Key Aspects and Insights
Tour Operator Software Market size, segment (mainly covering Major Type (, On-premises, Cloud-Based, ,), End Users (, Small and Medium Enterprises (SMEs), Large Enterprises,), and regions), recent status, development trendsa and competitor landscape. Furthermore, the 114 pages report provides detailed cost analysis, supply chain.
Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream end users. Also, Consumer behaviour analysis and market dynamics (drivers, restraints, opportunities) provides crucial information for knowing the Tour Operator Software market.
The Global Tour Operator Software market is poised for significant growth between 2022 and 2031, with a positive outlook for 2022 and beyond. As key players in the industry adopt effective strategies, the market is expected to expand further, presenting numerous opportunities for advancement.
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In conclusion, the Global "Tour Operator Software market shows" tremendous growth potential in the forecast period, with North America and Europe playing pivotal roles. The market is expected to achieve remarkable growth in terms of size and "CAGR", driven by factors like "technological" advancements and the presence of key players. As the industry continues to recover globally, it remains an attractive investment landscape, attracting new ventures and setting the stage for future developments.
What are the different "Types of Tour Operator Software market"?
Product Type Analysis: Production, Revenue, Price, Market Share, and Growth Rate for Each Category
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Why is Tour Operator Software market 2023 Important?
– Overall, the Tour Operator Software market in 2023 is essential for businesses to understand the market landscape, identify growth opportunities (strategies, services, customer base), mitigate risks (economic factors, impact business, minimize risks), Insight into Market Trends (latest trends, developments, consumer preferences, emerging technologies, dynamics, top competitive) make informed decisions, and achieve sustainable growth in a competitive business environment. Strategic Decision-Making (data-driven insights, pricing strategies, customer satisfaction, competitive advantage), Validate Business Plans (long-term success of the business).
Which regions are leading the Tour Operator Software Market?
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Tour Operator Software Market Post-Covid-19 Analysis: Size, Trends, and Growth Opportunities Revealed
Discover the direct and indirect impact of the Covid-19 pandemic on the global Tour Operator Software market in our comprehensive analysis. This report provides insights into the market size, trends, and growth prospects for the Tour Operator Software industry, segmented by type, application, and customer sector. We examine the market landscape before and after the pandemic, evaluating the key factors influencing its development. Additionally, a PESTEL analysis highlights the significant influencers and entry barriers within the industry.
Stay informed and gain a competitive edge with our in-depth analysis of the Tour Operator Software market post-Covid-19.
Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this "Tour Operator Software Industry".
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Detailed TOC of Global Tour Operator Software Market Research Report, 2023-2031
1 Market Overview1.1 Product Overview and Scope of Tour Operator Software1.2 Classification of Tour Operator Software by Type1.2.1 Overview: Global "Tour Operator Software Market Size" by Type: 2017 Versus 2021 Versus 20311.2.2 Global Tour Operator Software Revenue Market Share by Type in 202231.3 Global Tour Operator Software Market by Application1.3.1 Overview: Global Tour Operator Software Market Size by Application: 2017 Versus 2021 Versus 20311.4 Global Tour Operator Software Market Size and Forecast1.5 Global Tour Operator Software Market Size and Forecast by Region1.6 Market Drivers, Restraints and Trends1.6.1 Tour Operator Software Market Drivers1.6.2 Tour Operator Software Market Restraints1.6.3 Tour Operator Software Trends Analysis
2 Company Profiles2.1 Company2.1.1 Company Details2.1.2 Company Major Business2.1.3 Company Tour Operator Software Product and Solutions2.1.4 Company Tour Operator Software Revenue, Gross Margin and Market Share (2019, 2020, 2021 and 2023)2.1.5 Company Recent Developments and Future Plans
3 Market Competition, by Players3.1 Global Tour Operator Software Revenue and Share by Players (2019, 2020, 2021, and 2022)3.2 Market Concentration Rate3.2.1 Top3 Tour Operator Software Players Market Share in 20213.2.2 Top 10 Tour Operator Software Players Market Share in 20213.2.3 Market Competition Trend3.3 Tour Operator Software Players Head Office, Products and Services Provided3.4 Tour Operator Software Mergers and Acquisitions3.5 Tour Operator Software New Entrants and Expansion Plans
4 Market Size Segment by Type4.1 Global Tour Operator Software Revenue and Market Share by Type (2017-2023)4.2 Global Tour Operator Software Market Forecast by Type (2023-2031)
5 Market Size Segment by Application5.1 Global Tour Operator Software Revenue Market Share by Application (2017-2023)5.2 Global Tour Operator Software Market Forecast by Application (2023-2031)
6 Regions by Country, by Type, and by Application6.1 Tour Operator Software Revenue by Type (2017-2031)6.2 Tour Operator Software Revenue by Application (2017-2031)6.3 Tour Operator Software Market Size by Country6.3.1 Tour Operator Software Revenue by Country (2017-2031)6.3.2 United States Tour Operator Software Market Size and Forecast (2017-2031)6.3.3 Canada Tour Operator Software Market Size and Forecast (2017-2031)6.3.4 Mexico Tour Operator Software Market Size and Forecast (2017-2031)
7 Research Findings and Conclusion
8 Appendix8.1 Methodology8.2 Research Process and Data Source8.3 Disclaimer
9 Research Methodology
10 Conclusion
Continued….
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Tour Operator Tech's Next Big Thing
Today's edition of Skift's daily podcast looks at tour operator tech advances, JetBlue's holiday warning, and what's driving Arctic tourism's growth.
Good morning from Skift. It's Wednesday, October 26. Here's what you need to know about the business of travel today.
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Episode NotesTour operators have long struggled with technology, often using outdated software that has inhibited their ability to make bookings quickly. But those companies at last are starting to benefit enormously from large-scale advances in technology, a much-needed boost for businesses particularly hammered by the pandemic, reports Editorial Assistant Rashaad Jorden.
One of the developments Jorden cites is the advent of software platforms helping tour operators better market their itineraries. One tech executive said those programs are enabling companies to create digital brochures, a shift away from their long-time focus on physical documents. Meanwhile, travel technology company Nezasa has developed a software platform that combines the various elements of multi-day tours — including hotels and transportation options — into one customizable trip.
But Jorden writes the surging demand for post-pandemic travel is presenting tech-related challenges for tour operators, most notably hiring staff needed to manage the systems they use. Scott Rutz, the vice president of sales and marketing for software platform Travefy, said he believes tour operators have experienced a brain drain since the start of the pandemic.
Next, JetBlue Airways is recovering from challenges including labor shortages that forced it to make deep schedule cuts this summer. But the New York-based carrier acknowledges that air traffic control staffing issues could cause flight disruptions this winter, reports Edward Russell, editor of Airline Weekly, a Skift brand.
JetBlue President Joanna Geraghty indicated the possibility of large-scale flight disruptions during its third-quarter earnings call on Tuesday. Geraghty described the air traffic control environment as fragile, with staffing shortages already causing thousands of flight cancellations and delays earlier this year. She added that those staffing issues have driven JetBlue to keep a large number of pilots on call in the event of delays.
JetBlue recorded a $57 million profit in the third quarter, its first since the start of the pandemic. The company's revenue rose 23 percent from the same period in 2019.
We wrap up today in the Arctic. The remote region is experiencing a surge in visitor arrivals, but Global Tourism Reporter Dawit Habtemariam writes that ongoing staffing shortages and infrastructure challenges are preventing it from hitting its full potential.
The Arctic, which includes the northernmost areas of Finland, Norway and Sweden, is seeing tourism numbers rapidly approach pre-pandemic levels, Habtemariam notes. Some tour operators running trips to the region have already recorded more bookings for the upcoming winter season than they did during the same period in 2019. Local tourism officials believe the Arctic has benefitted from its remote location, with travelers increasingly eager to visit rural destinations, a megatrend Skift has explored.
However, Habtemariam writes the region's tourism recovery has been hampered by staffing shortages. One Arctic-based tourism executive said a lack of workers is the area's biggest challenge. Meanwhile, Jason Susinski, the director of product for tour operator Kensington Tours, stated the Arctic doesn't have enough tour guides to help travelers partake in popular activities such as dog sledding. Susinski added that limited physical infrastructure has made reaching the region's most remote locations difficult.
The Tech Revolution Poised To Power Tour Operators
Leigh Barnes, the chief customer officer of Melbourne, Australia-based tour operator Intrepid Travel, can attest to the challenges companies like his face when incorporating new technology.
"One day, we accidentally sent a test email to a small segment of our customers with song lyrics by Lionel Ritchie," he said. "There was no data breach, and we owned the issue straight away."
"But we did receive some very funny replies from our customers. It was a reminder of the care you need to take with embracing technology at such massive speed."
Although Barnes chuckles about the story, tech issues regularly haven't been a laughing matter for tour operators. Companies in the sector have long struggled due to their reliance on outdated technology that has inhibited their ability to make bookings.
But multi-day tour operators today are benefitting from technology advances giving those companies a much-needed boost after the pandemic significantly damaged their businesses. The global tour operator software market, estimated to be worth $500 million in 2020, is projected to be valued at $1.2 billion by 2026. Some tour operators are spending more than $1 million on technology. Among those big spenders is Intrepid Travel, which is upping its technology budget for 2023 by 189 percent from 2019.
"New businesses … are built with technology at the core (and take) a marketplace view to their business model, which allows them to grow, test and scale much more efficiently," said Tony Carne, chief operator officer at Airguides, a Peregian Beach, Australia-based agency that works with destinations on sustainability messaging, and a contributor to Skift.
However, multi-day tour operators, which run trips with groups of anywhere from 10 to 25 participants around pre-sent itineraries and departure dates, still face an uphill climb with integrating and maintaining new systems.
"(A decade or two) ago, many large tour operators had huge IT projects with tremendous budgets that failed either immediately or soon after the attempted launch," said Manuel Hilty, the CEO of Nezasa, a Zurich, Switzerland-based travel technology company that has worked with TUI, the world's largest tour operator.
"In recent years, however, the technology available in the market has advanced, and tour operators have also realized that it is often better to buy than make."
Vidar Svansson, the CEO of Kaptio, an Iceland-based company that provides a booking platform for multi-day tour operators, has noticed a similar shift.
"(Tour operators) are not in the business to develop software, and they shouldn't be," Svansson said, adding that he still sees travel companies use systems developed over a decade ago that are complex to update.
"The most successful growth stories are when these brands, faced with the paradox of whether to buy or build, choose to partner with a third party technology provider … rather than custom build only for themselves without future proof."
Technology AdvancesMarketing is one of the biggest challenges tour operators face, and it's something that Tom Buckley, chief commercial officer and co-founder of New York-based tourism marketing agency Dune7, believes they've struggled with.
"Operators spend too much of their time and effort on paid marketing channels. Once budgets are spent, the value disappears," Buckley said.
"Getting packages and itineraries to market in short time frames that have layers of complexity based on logistics, pricing, currency, partners, suppliers, languages, and then marketing it at the right time, right place and over the right medium is no easy feat."
So tour operators are turning to automation via software platforms to market their itineraries, which includes creating digital brochures. That's a shift from their long-time focus on developing physical brochures, which Buckley sees as not only resource intensive but could be only placed in bricks and mortar stores. He added that more tour operators embracing customer relationship management programs partly because they're more affordable than reservation technology systems that can run hundreds of thousands of dollars.
Meanwhile, Hilty believes one of the hurdles tour operators face is combining the different types of multi-day tour elements — such as hotels, attractions, and transportation options — into one customizable trip. Nezasa has developed a platform named TripBuilder which combines products and services from multiple sources on one platform. Hilty added that the platform also enables tour operators to offer trips they create for different users, such as business-to-business to travel agents with their own login commission and pricing setup possibilities.
Hilty acknowledges that a concern about TripBuilder is how the the platform fits into the tour operators' current technology landscape.
"What systems are currently used by the tour operator, which ones to keep, which ones to remove and how to easily integrate a new system into it," Hilty said about the challenge Nezasa faces. He said the company has built a set of application programming interfaces that makes integration easier, as well as reduces the time required for onboarding and incorporating new customers.
Kaptio — which counts Audley Travel, the Travel Corporation and Rocky Mountaineer among its clients — has also developed its own platform, which isn't focused on customizing software for each customer. Its Kaptio Travel Platform reduces the number of underlying systems tour operators use. It's also enabled such companies to automatically generate customer-facing documents and obtain access to live inventory from contracted and third-party suppliers.
Ragnar Fjolnission, Kaptio's founder and chief product officer, believes that being backed by customer management system Salesforce has helped the Kaptio Travel Platform solve challenges for tour operators.
"Finding a travel booking platform that is customer-centric, rather than booking-centric, is vital to meeting customer expectations, especially when it comes to personalization," Fjolnission said.
Meanwhile, Svansson cities sales teams as a significant beneficiary from Salesforce, which contains customer records, since they can access inquiries and quotes that could result in bookings.
"Sales teams can follow customers through their journey until they (convince them to) become a buyer, even further," he said. "The data can be used for loyalty and re-targeting purposes to offer future trips and benefit from repeat bookings.
However, Svansson admitted that implementing the Kaptio Travel Platform is complicated, acknowledging that it requires tour operators to completely overhaul their technology and obtain approval from company executives. Kaptio estimates factors such as licensing, implementation, new hires and consultation can drive the cost of investment over $1 million.
"Tour operators that simply change out one system for another without leading change toward digital transformation often do not leverage new technology to its full potential," Svansson said. "Using a new system not as designed not only is costly but also limits the value realization."
But Hilty states automation as a significant area tour operators need to improve in, citing the difficulty of automating booking changes both pre-departure and during a trip.
"Many tour operators still have a lot of manual process in place as soon as products get more personalized," Hilty said. "It gets even more difficult in the post-booking area — automating booking changes both pre departure and in-destination is very difficult, but it is becoming increasingly important as the the current number of flight cancellations shows, for example."
Regarding automation, Boston-based Explore Worldwide uses a tool called Parabola to automate extraction, data cleansing and analysis of its customer service feedback. Andrew Steward, Explore's head of digital transformation, believes Parabola has enable the company to devote more time to its products although he believes that's not the most significant benefit it provides.
"Often it's not a case of saving time on current processes but more about being able to do new things that provide benefits to customers or the business that there aren't currently resources available to do manually," Steward said.
What are those new things? Steward cited the ability to respond to resolve issues mentioned in customer reviews quickly. Such information had been previously held in a third party program prior to be downloaded into an Excel spreadsheet on an ad-hoc basis. Steward added product managers then had to do their own analysis.
"Now we have set up a reviews database and overlaid dashboards with traffic light scoring, trend reports and filtering," he said. "This process is all automated, as soon as a customer leaves a review, it's automatically sent over to our database, so our product managers are now able to identify any issues much quicker."
Steward maintains incorporating the automating tool into its digitization hasn't been difficult.
"The only real challenge with using tools like Parabola is ensuring that you have a clear view of what you want to achieve before you start, including the current challenges/time spent doing the job manually so you can ensure you're not just automating for the sake of it, but that it provides real benefit to the business."
And as tour operators increasingly automate, they're repeating the benefits of more services being online, with Hilty citing in particular Airbnb, Booking.Com, and Viator.
"Today, much more products are available online, with prices, descriptions and availability," he said. "We're still far from 100 percent, and will be so for a long time. But there has been a huge development in this area.
The Major Software Boost
The realization among tour operators that they needed more modern software has driven them to seek software as a service (SAAS) platforms like Travefy. While Scott Rutz, the vice president of sales and marketing for the Lincoln, Nebraska-based company, believes there's no shortage of quality booking platforms for tour operators, he asserts the pandemic drove home the point such companies were struggling in another critical area.
"They had great tools for bookings but not equally as great as tools for working with clients," said Rutz, whose company also serves destination management companies. "A lot of travel advisors and tour operators realized going through the pandemic realized, in a very painful way, they did not have good documentation."
"They weren't keeping track of e-signatures and proper approval forms for clients. And that left them in a tough spot in terms of liability when they did not have good documentation showing that a client approved the terms and conditions and the cancellation policies."
To address that void, Travefy built tools in its client management system and in its forms so a tour operator could use a template to gather information from a customer. "When a client fills it out on a smartphone, tablet or a computer, that information gets automatically stored in Travefy's system for that operator," Rutz said. "That way, it speeds up the process."
Travefy also features a database of locations worldwide that help tour operators to better prepare their itineraries. Rutz said an employee of a company planning to take a group to cafes on a culinary tour could type the names of such establishments and see information such as basic details, maps and photos. He added Travefy works with up to 20 different data sources that enable tour operators to list city guides and destination content on their platforms.
So are SAAS providers making inroads in the tour operator sector?
Intrepid's Barnes sees more tour operators, his company included, using SAAS platforms. Salesforce, its customer relationship management system, is Intrepid's most prominent SAAS platform. Nevertheless, he believes the digital transformation has taken longer for tour operators than companies in other sectors due to the complexity of creating a tour and the lack of suitable platforms for operators.
"I think we're in the early stage of SAAS in the multi-day tour operations space," he said, adding marketing technology SAAS programs are far more prevalent.
"I think SAAS from a pure marketing and sales (stand point) will be quite mature, and most organizations will have some have level. But as far as having an actual SAAS set up for their tour operations component, we're not as mature yet."
However, Barnes added that he envisions tour operators in the near future being able to run their full trip operations, including revenue management and costumer communications, through a SAAS setup.
"I think over the next three years, you'll see that drastically become (more prevalent) with tour operators."
Future Technology ChallengesAlthough Barnes believes that tour operators are increasingly poised to embrace SAAS platforms, how do they ensure they're not falling behind on technology advances that could make booking trips easier in hyper-competitive environment?
"The coy answer is that we don't — just in the sense that we are continuing to clean up legacy and foundational challenges to make sure that we have a solid base for moving forward right now," said Eli White, the chief technology officer of Old Greenwich, Connecticut-based smarTours.
White added that smarTours is looking for technology and services that he described as possibly being the next big thing for the company and solve any future issues. But he acknowledged that smarTous hasn't found those advances yet.
Meanwhile, as Hilty still sees a lot of work to be done to digitize the tour operator, Barnes believes tour operators need to be cognizant of their business operations and needs to make technology updates.
"I'd recommend to companies to get an understanding of where (your) value is …. And then from that, prioritize where (you) need to be innovating and where (you) need to be getting technology solutions," Barnes said, adding that he gets on average 10 emails daily from companies pitching software programs.
To prioritize those innovations, Intrepid has developed a value chain and a long-term strategy. "And we build a road map that helps us get there," Barnes said, providing becoming the first billion-dollar adventure travel company as a hypothetical target. "What technology do we need to get there?"
"And then we'll have a process where we discuss and prioritize around we think gives us the most value fastest."
The surging demand for travel post-pandemic also presents enormous tech-related challenges for tour operators, which — like other sectors of the travel industry — have been hit hard by staffing shortages. Rutz believes tour operators have suffered a brain drain since the start of the pandemic, a point Svansson seconds.
"Tour operators are experiencing a huge challenge, post-pandemic, trying to bring back the talent into their workforce that is needed to manage the heavy systems they use and process the return of customer demand," Svansson said.
"This creates a cycle of postponing investment in scalable technologies and leaves these brands stuck, unable to keep up with demand nor leverage new digital sales channels, which limits their growth."
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