Press release
Generative Artificial Intelligence in Tourism Market to Reach USD 9598.75 Mn by 2029, emerging at a CAGR of 17.5 percent and forecast 2023-2029
Generative Artificial Intelligence in Tourism Market
Generative Artificial Intelligence (GAI) is revolutionizing the world, and it's leaving a profound impact on the hospitality and tourism sector. This report explores the significant growth the industry has witnessed post-pandemic and the role of technology, particularly GAI, in reshaping the travel experience. From personalized travel recommendations to virtual tours, interactive chatbots, content generation, and real-time translation services, GAI is propelling the tourism sector to new heights. The report provides insights into the potential of GAI to enhance customer experiences, streamline operations, and provide innovative solutions to address industry challenges.
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Generative Artificial Intelligence in Tourism Market Research Methodology:
Our research methodology incorporates a comprehensive analysis of both primary and secondary data sources. It leverages advanced statistical methods and market analysis to forecast the trajectory of the Generative Artificial Intelligence in Tourism Market. We delve into the influence of GAI on the travel industry, considering customer preferences, demographics, and historical travel patterns to create tailored travel experiences.
What are Generative Artificial Intelligence in Tourism Market Dynamics:
Chatbots have evolved as a key customer support asset, both during the booking process and in responding to and addressing common leisure questions. This is especially important in industries like hospitality and tourism, where employees are expected to work around the clock and require ongoing support. OpenAI created the ChatGPT model, a chatbot that leverages the GPT-3 language model that is capable of emulating human conversational versatility when delivering answers. It is a more advanced and sophisticated search engine that eliminates the need for users to click on innumerable blue links, open many tabs, and filter through information to get what they need.
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What is Generative Artificial Intelligence in Tourism Market Segmentation:
by Application
1. Personalized Recommendations
2. Virtual Tours
3. Itinerary Generation
4. Content Generation
5. Others
by Platform
1. Web-based
2. Mobile Applications
3. Others
by End User
1. Leisure Travelers
2. Business Travelers
3. Travel Agencies
4. Others
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Who are Generative Artificial Intelligence in Tourism Market Key Players:
1. OpenAI (United States)
2. Hugging Face (United States)
3. Alphabet (Google) (United States)
4. Microsoft (United States)
5. Cohere (United States)
6. Anthropic (United States)
7. Jasper (United States)
8. Glean (United States)
9. Synthesis AI (United States)
10. Stability AI (United States)
11. Lightricks (Israel)
12. Inflection AI (United States)
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Table of content for the Generative Artificial Intelligence in Tourism Market includes:
Generative Artificial Intelligence in Tourism Market : Research Methodology
Generative Artificial Intelligence in Tourism Market : Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3. Generative Artificial Intelligence in Tourism Market : Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
MandA by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4.Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Generative Artificial Intelligence in Tourism Market Regional Insights:
North America: North America, with over 40% of the revenue share, dominated the Generative Artificial Intelligence in Tourism Market in 2022. The region is set to maintain its leadership with a CAGR of 25.7% through 2029. North America's strong presence of key companies, advanced infrastructure, and rapid adoption of cutting-edge technologies contribute significantly to market growth. The region boasts a robust ecosystem of AI startups and research institutions, driving advancements in generative AI applications for personalized recommendations, virtual tours, and content generation. Key players like OpenAI have played a pivotal role in AI advancements, especially in natural language processing, with implications for the tourism industry.
United States and China: These two nations have been at the forefront of cross-country collaborations in AI publications from 2010 to 2021, although the pace has slightly slowed. The number of AI research collaborations between the United States and China increased roughly fourfold since 2010, maintaining a lead even in 2021. While the United States still leads in AI conferences and repository citations, the global landscape is evolving, with more countries contributing to AI research and development.
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Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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