A white paper on travel technology trends - Online Travel 2020: Evolve, Expand or Expire – released by Amadeus, world’s leading travel technology provider for the travel sector, recently cautioned Online Travel Companies against ‘Black Swans’ who could disrupt the industry with innovative “consumer facing” technology in coming years. New trends are emerging in the online travel space and online travel companies have to adapt their products and business models based on anticipated changes and potential disruptions of the ecosystem, the white paper says.
Revealing the white paper, Sebastien Gibergues, Head of Leisure & Online Travel, Amadeus IT Group said that “a brave new world” is emerging fast and a lot of disruptions are bound to happen in the online travel space between now and year 2020. Online Travel volume which was US$8.9 billion in 2015 is expected to nearly double to touch US$17.3 billion in 2020 in India. Out of the total online travel business, almost 50% is expected to happen through mobile in 2020, he said. Therefore, it is quite critical online travel companies to polish their consumer facing technology more robust and efficient.
Amadeus white paper has identified evolution of four different scenarios that can unfold and play out any geography in the world. These scenarios are the rise of Mega Online Travel Retailiers, Traditional tour operators transforming themselves into Digital Tour Operators, the rise of more sophisticated Mobile Travel Retailers, and emergence of new Travel Marketplace by e-commerce giants.
Explaining the emergence of Mega Online Travel Retailers, Gibergues said that it is like a Super Market model where consumers come, browse, compare product offerings, find the right product, buy and walk out of the store.
Source : travelbizmonitor.com | Saffron Synergies Pvt Ltd