Travel technology market is forecast to grow up to $12 billion

The global travel technology sector is estimated to grow by 14.2% to $12.21 billion in revenues until 2019

A major study led by Technavio Research, based on the revenues of major providers like Amadeus, Sabre, Travelport and Navitaire, predicts that the worldwide travel industry will experience a considerable boost in the next four years.

The study report excludes the in-house IT spend by airlines, hotels and travel agencies.

According to Technavio, the focus will be on the number of on-line travel agencies bookings, that will boost the most until 2019.

The forecast also takes into consideration major developments of the cloud-based reservation system arena, with a 10 per cent increase of the system's revenues.

While the global travel technology market was dominated by EMEA in 2014, now Amadeus is considered to be the biggest sector player, with a 60 per cent market share in 2015.

Regarding destinations, the Americas accounted for 35.3% of the market and Asia-Pacific held 18.7% in 2014.

For the years to come, there is no forecast regarding regions, but the Chinese business travel sector slowly becomes the largest global spender and it is expected to experience massive growth by 2017.