Belt Segment to Dominate North America Tour operator software Market during 2019–2027

According to a new market research study on “North America Tour operator software Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component, Enterprise Size, and Subscription Type” is expected to reach US$ 485.67 million by 2027 from US$ 279.19 million in 2019. The market is estimated to grow at a CAGR of 10.8% from 2020 to 2027. The report provides trends prevailing in the North America tour operator software market along with the drivers and restraints pertaining to the market growth. Rising tourism industry with positive economic prospects is the major factor driving the growth of the North America tour operator software market. However, issues associated with secured transaction and privacy related issues hinders the growth of North America tour operator software market.

The North America tour operator software market is categorized into component, enterprise size, subscription type, and country. Based on component, the North America market is dominated by software segment throughout the forecast period. The North America tour operator software market, by enterprise size, is sub-segmented into large enterprises and SMEs. The SMEs segment is anticipated to witness a higher CAGR during the forecast period. By subscription type, the monthly subscription segment is witnessing high CAGR as several small tour operators are willing to pay monthly subscriptions as compared to the annual or one-time payment due to cost constraints.

North America is severely affected by the COVID-19 pandemic. North America is one of the significant regions for the adoption and growth of advanced technologies due to favorable government policies to accelerate innovation, a huge industrial base, and high purchasing power, especially in developed countries, such as the US and Canada. The US is the worst-hit country in North America, with the continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. The pandemic projected light on job security and social welfare in tourism sector, by underlining the vulnerabilities in North America. The US alone witnessed loss of more than US$297 billion from the negative impact on travel and tourism sector. Majority of the Americans are mostly preferring to go for a vacation to the familiar places, which is negatively impacting the business of travel agencies as well as the adoption of tour operator software. The international tourist mindset is swinging between hesitation and readiness with requirement of little or a lot more time to feel ready to travel. The coronavirus outbreak will have a limited short-term impact on the market. The short-term effect of coronavirus would not affect the recovery of overall sales in the tourism industry in 2021The outbreak would have a limited short-term impact on the market. The short-term effect of the crisis would not hinder the recovery of overall sales in the tourism industry in coming years.

Checkfront Inc; GP Solutions GmbH; Rezdy; TRAVEFY, INC; TRYTN; Xola, Inc. are among the leading companies in the North America tour operator software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, TrekkSoft had develop some features on its booking software platform such as new “book now” button that kickstarts the booking and payment process on operator websites. The company also updated few tools including floating chart, activity finder, and offer discount for multiple tools.

The report segments the North America Tour operator software Market follows:

North America Tour Operator Software Market – By Component

• Software
• Services

North America Tour Operator Software Market – By Enterprise Size

• Large Enterprises
• SMEs

North America Tour Operator Software Market – By Subscription Type

• One Time Subscription
• Monthly Subscription
•  Annual Subscription

North America Tour Operator Software Market – By Country

• US
• Canada
• Mexico