Artificial Intelligence In Tourism Market - Global Forecast To 2030

Dublin, Jan. 02, 2025 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Tourism Market by Solution, End Users - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The AI in tourism market is estimated at USD 2.95 billion in 2024 and USD 13.38 billion in 2030 at a Compound Annual Growth Rate (CAGR) of 28.7%.

AI has largely improved mobility solutions in the tourism sector, primarily through ridesharing and shuttles. Data analytics and machine learning algorithms optimize the choice of route based on real-time analysis of the traffic data and historical data on vehicles following the most efficient routes to reduce travel time and costs. It can improve operational efficiency, all the while offering the ability for better customer experiences by reducing waiting time and correct arrival estimates.

By end user, travel industry segment to hold the largest market size during the forecast period
Algorithms used by travel booking sites lead to more customized recommendations, dynamic pricing, and easier-to-use user interfaces that ease users' comparisons and allow them to make relatively well-informed decisions. It utilizes AI-driven solutions for providing real-time availability and predictive maintenance for its vehicles. In the maritime industries, cruise lines and ferry services use AI to enhance route planning, onboard experiences, and even the possibilities of a safety scenario through analytics. Airlines utilize AI through automated service to customers in the form of chatbots. Optimization of flights, tracking baggage, and other related things all contribute to a better-quality experience. Others include rail and road travel, using AI for scheduling, communicating with passengers, and implementing robust safety measures. AI plays a role in the deep transformation of businesses and how they interact with customers, innovation, and growth in the tourism sector.
The car rental & mobility providers segment to register the fastest growth rate during the forecast period
In the tourism sector, end users like car rental and mobility providers have increasingly used AI to improve experience and efficiency in customer services. Fleet management through demand prediction, vehicle availability management, and automation of pricing strategies depending on market conditions is achievable through AI technologies. Some of the other advantages of AI-based applications include providing users with tailored car picks, routes, and real-time traffic updates to make travel smooth and efficient. With AI chatbots and virtual assistants, automobile rental companies can be able to instantaneously provide customer care support, answer all possible questions, and be able to make a booking at reduced operating costs. With increased demand for a seamless mobility solution, AI integration into the car rental service will help companies satisfy their customers but also be ahead of the curve in such fast-moving markets.
Asia Pacific to hold the highest market growth during the forecast period
Singapore Changi Airport now has an Al system scanning its runways for debris and wildlife, called iFerret. The cameras come with high definition for the spotting of objects of as small a size of 4 cm. It will be fully functional by end 2024. The Seoul Metropolitan Government launched two services for the foreign visitors who began flocking to the city on the May Day holiday in December 2023. It includes taxi-hailing application, especially used by foreigners, called Tabo, and the real-time translation services at subway stations.
The Tabe app is intended for easy ordering of taxis by foreigners, while the translation service will cater to real-time conversations among non-Korean-speaking people through application of Al and voice-to-text technology at major tourist information center. The Japanese government approved a funding of about USD 470 million to be granted to five companies, among them the KDDI Corporation is developing AI technology intended to further enlighten the country on how to leverage tourism sectors in developing visitor experiences and sustainable practices by April 2024. These developments contribute to the promising future growth of Asia Pacific region in the coming years.

The major players in the AI in tourism market include Snowflake (US), IBM (US), NVIDIA (US), Microsoft (US), AWS (US), Salesforce (US), Appier (Taiwan), Huawei (China), Sabre Corporation (US), SAS Institute (US), [24]7.ai (US), Virtusa Corporation (US), Travelport (UK), Amadeus (Spain), Devox Software (Poland), AltexSoft (US), Jio Haptik Technologies Limited (India), SHR Group (US), Duve (US), Nexscient (US), Persado (US), Canary Technologies (US), Mize (US), FLYR (US), Geovea (US), Layla AI (Germany). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their AI in tourism market footprint.
The report provides insights on the following:

• Analysis of key drivers (rising adoption of data automation tools to ease the decision-making process, rising demand for highly personalized services to enhance customer experience), restraints (high implementation costs), opportunities (incorporation of AI in areas of tourism revolutionizing customer interaction, emergence of AI-driven applications for flight forecasting), and challenges (concerns related to data privacy and security) influencing the growth of the AI in tourism market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the AI in tourism market.
• Market Development: The report provides comprehensive information about lucrative markets and analyses the AI in tourism market across various regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the AI in tourism market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading include Snowflake (US), IBM (US), NVIDIA (US), Microsoft (US), AWS (US), Salesforce (US), Huawei (China), Sabre Corporation (US), SAS Institute (US), Appier (Taiwan), [24]7.ai (US), Virtusa Corporation (US), Travelport (UK), Amadeus (Spain), Devox Software (Poland), AltexSoft (US), Jio Haptik Technologies Limited (India), SHR Group (US), Duve (US), Nexscient (US), Persado (US), Canary Technologies (US), Mize (US), FLYR (US), Geovea (US), Layla AI (Germany).

Key Attributes:

Key Topics Covered:
Premium Insights

• Opportunities for Key Players in AI in Tourism Market
• AI in Tourism Market, by Offering
• AI in Tourism Market, by Service
• AI in Tourism Market, by Professional Service
• AI in Tourism Market, by Travel Solution
• AI in Tourism Market, by Hospitality Solution
• AI in Tourism Market, by End-users in Travel Industry
• AI in Tourism Market, by End-users in Hospitality Industry
• AI in Tourism Market, by Type
• North America: AI in Tourism Market, Offerings and End-users

Market Dynamics

Drivers

• Rising Adoption of Data Automation Tools to Ease Decision-Making Process
• Increasing Demand for Highly Personalized Services to Enhance Customer Experience

Restraints

• High Initial Costs

Opportunities

• Incorporation of AI in Areas of Tourism Revolutionizing Customer Interaction
• Emergence of AI-Driven Applications for Flight Forecasting

Challenges

• Concerns Related to Data Privacy and Security

Case Study Analysis

• Helps Customers Experience New World of Travel Using Aws and Generative AI
• Travelpass' Journey to Deliver More Curated Traveler Experiences - at Half Cost
• A1 Inteligencia Em Viagens Boosts Team Efficiency and Customer Experience with Power Automate and Copilot Studio
• Homaris Achieved Higher Guest Satisfaction Rates with Smartpriority by Duveai

Best Practices in AI in Tourism Market

• Personalization and Customer-Centric Approach
• Seamless AI Integration with Existing Systems
• Real-Time Data Utilization
• Enhancing Operational Efficiency
• Data Privacy and Security Compliance
• AI for Sustainability
• Continuous Learning and Improvement
• Human-AI Collaboration
• Transparency and Trust
• Monitoring and Maintenance

Current and Emerging Business Models

• Subscription Services
• Dynamic Pricing
• Service Fees
• Data Monetization
• AI-Enhanced Loyalty Programs
• Customized Travel Packages
• Ancillary Revenue Streams
• AI-Powered Travel Analytics

Company Profiles

Key Players

• Snowflake Inc.
• Salesforce
• Amazon Web Services
• IBM
• Microsoft
• Nvidia Corporation
• SAS Institute
• Sabre Corporation
• Huawei
• [24]7.AI
• Virtusa Corporation
• Appier Inc.
• Travelport Worldwide
• Amadeus IT Group
• Zendesk

Startups/SMEs

• Devox Software
• Altexsoft
• Jio Haptik Technologies Limited
• Shr Group
• Duve
• Nexscient
• Persado
• Canary Technologies
• Mize
• Flyr
• Geovea
• Layla AI

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• Artificial Intelligence in Tourism Market

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