The Rise Of AI In Tourism Market: A $13.38 Billion Industry Dominated By Snowflake, IBM, NVIDIA | Marketsandmarkets™

(MENAFN- GlobeNewsWire - Nasdaq) Delray Beach, FL, Jan. 10, 2025 (GLOBE NEWSWIRE) -- The global AI in tourism market size is projected to grow from USD 2.95 billion in 2024 to USD 13.38 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 28.7% during the forecast period , according to new research report by MarketsandMarketsTM

Browse in-depth TOC on " AI in Tourism Market"

362 - Tables
56 - Figures
305 - Pages

Download Report Brochure @

AI in Tourism 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

List of Key Players in AI in Tourism Market:

• Snowflake (US)
• IBM (US)
• NVIDIA (US)
• Microsoft (US)
• AWS (US)
• Salesforce (US)
• Huawei (China)
• Appier (Taiwan)
• Sabre Corporation (US)
• SAS Institute (US)

Request Sample Pages :

Advances in machine learning and natural language processing help AI to better understand human languages and behaviors, improving applications in various industries. Also, the increased availability of cheap and powerful hardware such as GPUs is making the deployment of AI solutions much easier, allowing businesses and organizations to adopt the use of AI solutions more widely and to implement more complex AI-driven technologies. That is why AI integration in sectors has picked up speed with the growth of advanced software capabilities.

By offering, the solutions segment is expected to have the largest market size during the forecast period.

The AI in tourism solutions segments includes specialized tools that add flavor to experiences both in tourism. AI-based booking management systems, pricing & revenue management, virtual assistants & chatbots, and other innovations in travel itinerary planners and disruption management systems are some of the travel solutions. They streamline the planning process, assist in improving pricing structures, and hence, increase customer satisfaction. In hospitality, AI is used in virtual assistants & chatbots , pricing & revenue management, and security & surveillance systems, among other innovations in fraud detection, fraud prevention, operational efficiency, and resource management. These encompass AI-driven solutions transforming interactions in tourism with improved personalized services and efficient operations, fueling revenue growth.

By type, the generative AI segment is expected to hold a higher growth rate during the forecast period.

In the tourism industry, generative AI leverages sophisticated machine learning models to produce dynamic, highly personalized content that transforms consumer interactions and operational tasks. Generative AI can create personalized marketing messages, and customized trip plans and automate real-time consumer inquiry answers by analyzing massive databases. It improves the booking experience by providing tailored recommendations for locations, lodging, and services based on past data and consumer preferences. For instance, generative AI will help create virtual tour experiences that imitate hotel settings or places, enabling travelers to make well-informed choices. Additionally, using AI chatbots would assist in providing consumers with responses that resemble those provided by humans; this would simplify the process of customer care and improve the efficiency and involvement of support personnel while decreasing the proportion of manual labor.

Inquire Before Buying:

By Region, North America to have the second-largest market size during the forecast period.

Alaska Airlines is leveraging generative Al to give personalized recommendations during the flight search, and Southwest Airlines's rollout of Al and machine learning will help it build predictive models that help the company optimize operations and enhance customer experiences. Marriott, too, has started exploring Al; one of its initial initiatives includes RenAl, its virtual concierge that delivers personalized recommendations to guests. For instance, in April 2024, Expedia will roll out in its app a travel planner powered by ChatGPT, based on the conversations people have within that chat, recommending places to go and stay and saving hotels that are mentioned in the course of the chat for easy booking. These are only some examples of the increasingly prevalent role of Al in personalizing services, streamlining operational efficiency, and transforming guest experiences throughout the US tourism sector. In May 2024, Destination Canada launched the Canadian Tourism Data Collective, which is based on Al and data to enable more intelligent decision-making within the tourism sector. In July 2024, British Columbia, Vernon unveiled its Al-driven wildfire detection system-a, aimed at conserving forests while developing more tourism-underlining the role of Al towards sustainability. In September 2024, Tourism Richmond launched AskLulu, an Al travel assistant built with GuideGeek technology from Matador Network, providing visitors with personalized real-time recommendations that improve the traveler's experience and set new benchmarks for tourism engagement by Al.

The key players in the AI-driven tourism space are using advanced technology to reshape how customers experience their journeys while making operations smoother behind the scenes. By incorporating AI into their systems, they're offering more personalized services, automating everyday tasks, and providing real-time customer support. Collaborating with AI experts to roll out cutting-edge solutions like autonomous agents and interactive avatars that keep customers engaged and enhance service. These efforts are setting new benchmarks in the industry, sparking innovation, and paving the way for the future of tourism.

Get access to the latest updates on AI in Tourism Companies and AI in Tourism Industry

MENAFN10012025004107003653ID1109076631