The Future of the TMC
- Published:
- January 2025
- Research Type:
- Article
- Segments:
- Air, Hotels & Lodging, Online Travel Agencies
- Regions:
- Asia Pacific, Europe, U.S. & Canada
Summary
The business travel market is experiencing a resurgence, with spending projected to reach $1.48 trillion in 2024. Traditional TMCs are adapting by upgrading their technology stacks and focusing on automation, while newer entrants like are leveraging modern APIs, AI tools and blockchain to reshape corporate travel management. Staffing shortages and the rise of open systems further underscore the need for innovation. Ultimately, the future success of TMCs will depend on their ability to deliver seamless global coverage and efficient, traveler-centric solutions.
This analysis examines the evolving landscape of travel management companies (TMCs), highlighting the challenges facing traditional TMCs due to changes in airline distribution, advances in AI, and competition from new entrants. Key questions answered by this research include:
- What role does AI play in shaping the future of TMCs?
- How are traditional TMCs and new entrants adapting to changes in airline distribution and NDC
content? - What technological innovations are being introduced by new entrant TMCs?
- How are staffing shortages and automation impacting the evolution of TMCs?
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What is Open Access
An Open Access subscription provides company-wide access to the whole library of Phocuswright’s travel research and data visualization.