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Travel And Hospitality AI Global Market Expected to hit $1.21 Billion at a CAGR of 9.4% by 2028, Top Factors Leading The Industry Worldwide
Travel And Hospitality AI Market
As per the report, the travel and hospitality AI market size has grown strongly in recent years. It will grow from $0.78 billion in 2023 to $0.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The travel and hospitality AI market size is expected to see strong growth in the next few years. It will grow to $1.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
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What Is Driving The Growth Of The Global Travel And Hospitality AI Market?
Rising Demand For Personalized Experiences Fuels Growth In The Travel And Hospitality AI Market
Increasing demand for personalized experiences is expected to propel the growth of the travel and hospitality AI market going forward. Personalized experiences are customized interactions, services, or products tailored to an individual's preferences, behaviors, and needs, enhancing their engagement and satisfaction by making them feel uniquely catered to. The demand for personalized experiences is rising due to consumers' increasing expectations for tailored interactions that enhance satisfaction and engagement. Travel and hospitality AI enhances personalized experiences by analyzing data to create tailored itineraries, recommendations, and services that meet individual preferences and needs.
What Is The Key Trend In The Global Travel And Hospitality AI Market?
Innovative Generative AI Solutions Transforming The Travel And Hospitality Industry
Major companies operating in the travel and hospitality AI market are focusing on developing innovative offerings, such as generative artificial intelligence, to sustain their position in the market. Generative artificial intelligence refers to AI systems capable of creating personalized content, such as tailored travel itineraries, dynamic pricing models, and custom marketing materials, enhancing customer experiences and operational efficiency within the industry.
How Is The Global Travel And Hospitality AI Market Segmented?
The travel and hospitality ai market covered in this report is segmented -
1) By Type: Transportation, Hospitality
2) By Deployment Model: Cloud, On-Premises
3) By Technology: Artificial Intelligence (AI), Internet Of Things (IoT), Augmented Reality (AR), Virtual Reality (VR), Big Data, Other Technologies
4) By Pricing Model: One Time Payment, Subscription
5) By End Users: Travel Agencies, Transportation Companies, Corporations, Hotels
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How Is The Competitive Landscape Of The Global Travel And Hospitality AI Market?
Major companies operating in the travel and hospitality ai market are Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce com Inc., Tata Consultancy Services Limited (TCS), Capgemini SE, Infosys Limited, Adobe Inc., Booking Holdings Inc., HCL Technologies Limited, Expedia Group Inc., Wipro Limited, Amadeus IT Group, Sabre Corporation, Concur Technologies (SAP Concur), Travelport Worldwide Limited, Cvent Inc., Trivago N.V., Skyscanner Ltd., Mews Systems, Hopper Inc., Kayak Software Corporation, RateGain Technologies, Revinate Inc., Hotelogix
Contents Of The Global Travel And Hospitality AI Market
1. Executive Summary
2. Travel And Hospitality AI Market Report Structure
3. Travel And Hospitality AI Market Trends And Strategies
4. Travel And Hospitality AI Market - Macro Economic Scenario
5. Travel And Hospitality AI Market Size And Growth
…..
27. Travel And Hospitality AI Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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