Key Influencer in the Generative AI in Hospitality Market 2025: Rising Tourism Boosts generative Artificial Intelligence (AI) In Hospitality For Enhanced Experiences Driver

What industry-specific factors are fueling the growth of the generative ai in hospitality market?
The expansion of the tourism industry is anticipated to drive the growth of generative AI in the hospitality market. Factors such as rising disposable incomes, enhanced travel infrastructure, increasing global connectivity, and consumers' desire for fresh experiences and locations are influencing the growth of the tourism sector. Generative AI significantly contributes to the tourism industry by customizing visitor experiences, improving service provision, and boosting operations to cater to the escalating consumer requirements. For example, in May 2024, the UK, as per the Office for National Statistics, saw an influx of international tourists, with travel numbers burgeoning from 31.2 million in 2022 to 38.0 million in 2023. These visitors brought in revenue of $39.74 billion (£31.1 billion), reflecting a rise of $5.91 billion (£4.6 billion) compared to the earlier year. On the flip side, UK inhabitants undertook 86.2 million trips overseas, a hike from 71.0 million in 2022, resulting in an expenditure of $93.07 billion (£72.4 billion), exceeding the previous year's expenditure by $17.87 billion (£13.9 billion). Hence, the burgeoning tourism sector is accelerating the growth of the generative AI in the hospitality market.

Get Your Generative AI in Hospitality Market Report Here:
https://www.thebusinessresearchcompany.com/report/generative-ai-in-hospitality-global-market-report

What Is the projected market size and growth rate for the generative ai in hospitality market?
There has been an explosive increase in the size of the generative AI market within the hospitality sector in the past years. Projected growth sees it increasing from $24.08 billion in 2024 to a whopping $34.22 billion in 2025, with a compound annual growth rate (CAGR) of 42.1%. Factors contributing to this historic growth include the rising desire for tailor-made guest experiences, the augmentation of data accessibility and analytics prowess, the quest for operating efficiency and cost-cutting, elevated customer expectation for automation, and enhancements in machine learning algorithm methodologies.

The size of the generative AI market in the hospitality sector is anticipated to undergo substantial expansion in the coming years, reaching $138.45 billion by 2029, with a CAGR of 41.8%. The surge projected during this period is due to factors like the proliferation of intelligent tech infrastructure, increased interoperability with existing systems, growing consumer inclination towards no-touch services, the rise in AI-mediated guest customization, and the increase in worldwide travel and tourism markets. Key trend indicators for this period include the surge in AI-guided dynamic pricing strategies, the growth in virtual and augmented reality applications, the emergence of more advanced AI-empowered chatbots, the increase in AI-driven predictive guest behavior analytics, and the incorporation of AI with IoT devices.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19461&type=smp

What new trends are reshaping the generative ai in hospitality market and its opportunities?
Major firms in the generative AI arena for the hospitality industry are concentrating on amalgamating generative artificial intelligence (AI) to improve interactions with guests, optimize processes, and deliver tailored services. Generative AI is a distinct branch of AI that generates fresh content like text, images, or music, derived from patterns established in already existing data. An example would be when Sabre Hospitality, a hospitality technology company based in the US, launched SynXis Concierge.AI in June 2024. This tool uses generative AI to produce content from a diverse range of inputs like text and visuals. This progression lets the system to produce responses independently without relying on the immediate knowledge of support agents. Sabre's extensive data assets enhance the functionality of SynXis Concierge.AI, providing immediate and precise responses to customer inquiries, toning down dependence on the expertise and experience of support agents.

What major market segments define the scope and growth of the generative ai in hospitality market?
The generative AI in hospitalitymarket covered in this report is segmented -

1) By Component: Software, Services
2) By Customer Size: Large Hotel Chains And Resorts, Small Boutique Hotels, Mid-Sized Hotels And Chains
3) By Application: Chatbots And Virtual Assistants, Personalized Recommendations, Demand Forecasting, Voice Assistants, Predictive Maintenance, Guest Experience Enhancement, Other Applications

Subsegments:
1) By Software: Customer Service Chatbots, Virtual Assistants, Personalized Recommendation Engines, Automated Content Creation Tools, Predictive Analytics Software
2) By Services: Consulting Services, Implementation And Integration Services, Support And Maintenance Services, Training And Development Services, Managed Services.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=19461

Which region dominates the generative ai in hospitality market?
North America was the largest region in the generative AI in hospitality market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in hospitality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the generative ai in hospitality industry growth?
Major companies operating in the generative AI in hospitality market are Microsoft Corporation, Amazon Web Services Inc., accenture* plc, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., Fujitsu Limited, Salesforce Inc., NVIDIA Corporation, Google LLC (Google Cloud), NEC Corporation, Adobe Inc., Zebra Technologies Corporation, Amadeus IT Group SA, Persado Inc., Aisera, Master of Code Global, Asksuite Hotel Chatbot, 4Geeks LTD

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=19461&type=smp

What Is Covered In The Generative AI in Hospitality Global Market Report?

•Market Size Forecast: Examine the generative ai in hospitality market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the generative ai in hospitality market for a structured understanding.
•Key Players Overview: Analyze major players in the generative ai in hospitality market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the generative ai in hospitality market.
•Segment Contributions: Evaluate how different segments drive overall growth in the generative ai in hospitality market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the generative ai in hospitality market.
•Industry Challenges: Identify potential risks and obstacles affecting the generative ai in hospitality market.
•Competitive Landscape: Review strategic developments in the generative ai in hospitality market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.