NEW CASTLE, Delaware, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Distribution System Market by Component (Software and Services), and Application (Hotels and Resorts, Cruises, Car Rental, Aviation, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032” the distribution system market generated $7.5 billion in 2022 and is estimated to reach $15.4 billion by 2032, exhibiting a CAGR of 7.8% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, Restraints, and Opportunities-
Rise in levels of globalization drives the market growth. In addition, advancements and modernization of technology primarily drive the growth of the market. However, rising implementation costs and complexity and the difficulty of integration are primarily are expected to hamper the growth of the market. Furthermore, enhanced effectiveness and output are expected to create lucrative growth opportunities for the market.
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Report coverage & details:
|Market Size in 2022
|Market Size in 2032
|Component, Application, and Region.
|Rise in levels of globalization
Advancements and modernization of technology
|Enhanced effectiveness and output
|Rise in implementation costs
Complexity and the difficulty of integration
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The software segment to rule the market
By component, the software segment held the major share in 2022, garnering nearly two-thirds of the global distribution system market revenue, owing to businesses gaining the ability to manage records, handle logistics, track orders, and also analyze data, among other tasks propels the market growth significantly. The service segment is expected to witness the fastest CAGR of 8.9% throughout the forecast period, owing to organizations leveraging the data generated by the global distribution system to optimize their operations, gain valuable insights, and make informed decisions.
The car rental segment to dominate by 2032
By application, the hotel and resort segment accounted for nearly one-third of the global distribution system market share in 2022 and is expected to dominate by 2032, owing to leveraging GDS by hotels, and resorts to resourcefully manage their room availability, charges, and promotions, ensuring maximum residence and revenue generation in aiding the growth of the distribution system market. The car rental segment is also expected to display the fastest CAGR of 10.4% throughout the forecast period, owing to helping companies to keep a tab on the extensive network of travel agents and online platforms, which helps in increasing their visibility and bookings.
Asia-Pacific garnered the major share in 2032
By region, North America garnered the highest share, holding nearly one-third of the global distribution system market revenue in 2022, and is projected to retain its dominance by 2032, owing to increased focus on technological advancements and infrastructure development aiding the growth of the distribution system market. Asia-Pacific is expected to witness the fastest CAGR of 10.0% during the forecast period, owing to an increased need for strong distribution networks and efficient order fulfillment processes, which is expected to fuel the market growth in Asia-Pacific.
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Leading Market Players-
- Amadeus IT Group SA,
- Sabre GLBL Inc.,
- TravelSky Technology Limited.,
- Sirena-Travel JSC,
- Kiu system solutions
The report analyzes these key players in the distribution system market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others, to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
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