Train Reservation Software Market: Introduction
- Train travel is gaining traction since rail travel is a cost-effective mode of travel as compared to road and air travel. Governments around the world are also increasingly promoting train travel as a climate-friendly alternative to road and air travel in order to reduce greenhouse gas (GHG) emissions and curb rising pollution levels. These factors are estimated to boost the train reservation software market during the forecast period.
- Train reservation software is used by train travelers to book their train tickets in advance for their planned dates of travel in order to avoid the inconvenience of having to find a seat during their travel and also to prevent any hefty fines imposed against them by ticket checkers for traveling without a ticket
- Train reservation software are web-based software and can be accessed on all types of devices such as personal computers and smartphones
- The prevalent trend in the train reservation software industry is the launch of interactive mobile-based ticket booking applications providing a full suite of travel-related services that are compatible with both the iOS and Android mobile operating systems
Key Drivers of Train Reservation Software Market
- Governments around the world are increasingly setting carbon reduction goals and devising and implementing action plans to achieve those goals as agreed upon under various climate change agreements such as the Paris Accord of 2015. Since greenhouse gas (GHG) emissions from IC engine-based transportation such as road and air transport contribute to about 25% of all the GHG emissions, governments around the world are looking to cut down the emissions from fossil fuel-based transportation. Trains are the most eco-friendly modes of transport, as trains emit only 23.5 gm of carbon dioxide per kilometer traveled, compared to 181.5 gm by cars, 129.5 gm by buses, and 187 gm by flights. This is anticipated to drive the train reservation software market.
- Rise in train travel due to booming tourism is also augmenting the global train reservation software market
- Gradual lifting of travel restrictions related to the COVID-19 pandemic has also augmented the global train reservation software market
- Numerous countries such as India with some of the highest numbers of rail travelers in the world have imposed harsh fines on rail passengers traveling in trains without tickets. Thus, passengers are increasingly booking their tickets in advance in order to avoid the embarrassment of getting caught traveling without tickets. This is also driving the global train reservation software market.
- A growing trend amongst rail passengers all over the world is to book their tickets online due to the convenience offered by online train ticket booking apps. This is also providing a major impetus to the global train reservation software market.
Challenges in Train Reservation Software Market
- The COVID-19 pandemic and the resulting lockdowns and travel restrictions severely affected the expansion and even survival of the global train reservation software industry. Numerous smaller players went out of business, while some were acquired by the larger players. This led to significant consolidation of the number of train reservation software companies in the industry.
- Strong competition from road transport to rail transport exists in regions, such as the Middle East & Africa and South America, where rail networks are not well developed and few passengers travel by rail. This hampers the global train reservation software market.
- Limited internet penetration in emerging markets is also hurting the global train reservation software market since most of the new-age startups offering online train reservation services are essentially mobile apps that require internet connectivity for their access
- Post COVID-19 pandemic, many people are preferring personal vehicles over public transport for their travel. This trend is also hindering the global train reservation software market.
Opportunities in Train Reservation Software Market
- Demand for train travel from various regions around the world is increasing
- Construction of several big-ticket international rail projects is also expected to boost the global train reservation software market
- Entry of several new startups which are developing mobile apps based on online ticketing software is considered to be the next most significant opportunity driving the global train reservation software market
- Numerous online rail reservation service providers are also providing services, such as in-app purchases, in-app advertising, hotel bookings, trip planning, and pantry services, which is also predicted to open up a significant number of new revenue generation opportunities for the global train reservation software market
- Increase in penetration of internet and low-cost smartphones are also predicted to augment the global train reservation software market
Train Reservation Software Market Worldwide to Expand Significantly
- Asia Pacific is estimated to dominate the global train reservation software market due to the presence of a large number of technology companies, well-developed rail networks, a large number of rail passengers, and some of the cheapest costs for rail travel in the world
- Europe is also likely to be a major region for the global train reservation software market due to a large number of rail passengers, government policies favoring rail travel over road and air travel to cut down vehicular emissions, and a well-developed rail network
- North America is estimated to be the fastest-growing market due to a rise in the number of rail passengers, the existence of many technology companies, and the construction of high-speed rail networks such as the California High-Speed Rail
Key Players Operating in Train Reservation Software Market
The train reservation software market is fairly distributed with a number of startups as well as bigger players dominating the global market. Major players operating in the global train reservation software market are:
- Advantech
- Amadeus
- Blue Technologies Ltd. (Masabi)
- Bookeo
- Datamatics
- Expedia
- Genfare
- Goibibo
- Handheld Group AB
- IRCTC
- Ixigo
- MakeMyTrip
- PointerSoft Technologies
- Sabre Corporation
- Sonata Software
- Sqills (Siemens Mobility)
- Switchio
- ThunderTix
- Trainline
- Trainman
- Trawex
- TurnIt
Global Train Reservation Software Market: Research Scope
Global Train Reservation Software Market, by Type
- Ticketing Software
- Fare Collection Software
Global Train Reservation Software Market, by Travel
- Intercity Travel
- Intracity Travel
Global Train Reservation Software Market, by Application
- Rail Operators
- Travel Booking Agents
- Rail Passengers
Global Train Reservation Software Market, by Deployment
Global Train Reservation Software Market, by Region
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Nordic Countries
- Russia and CIS
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ANZ
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Turkey
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
