Page 197 - Cyber Defense eMagazine April 2023

Preparing Travel and Hospitality Companies for

Cybersecurity in The Wake of Travel Technologies

By Shambhu Nath Jha, Associate Vice President of Fact.MR

Technology has touched every aspect of our lives and became an integral part of them. This has further
Going on the defensive changed the way we eat, shop, and spend our time. Right from booking a dinner
table in a restaurant to booking a flight, technologies have made it easier than it was ever before. With
these massive applications, such technologies are leveraged by users across many sectors. Even the
travel sector has been impacted by ongoing technology advancements. Today, we can organize our
entire trips, and book hotel rooms, flights, sightseeing tours, and other activities, all from a mobile device.

Technology has completely changed the way we travel, making our journeys more enjoyable and
practical. What we currently refer to as travel technology is this significant transformation of the tourism
sector driven by the integration of technologies. The use of e-commerce and IT in hospitality to save time,
reduce cost and generate seamless travel experiences for customers is increasing industry competition.

As per Fact.MR’s research, the global demand for travel technologies is estimated to increase at a CAGR
of 8% from 2023 to 2033. Currently, the global travel technologies market is valued at US$ 6 billion at
present and is predicted to reach a market size of US$ 13 billion by the end of 2033.

Recognizing trending travel technologies is essential for companies for addressing the possible security
concerns and application scope to gain a competitive edge. For this business requires market research
that provides industry-specific insights. FactMR’s research solutions are opted for by leading firms
making it a market consultant brand one can trust.

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