AI in Hospitality And Tourism Market Anticipated To Witness Robust Growth, Surpassing $58.56 Billion By 2029

The AI in Hospitality And Tourism Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current AI in Hospitality And Tourism Market Size and Its Estimated Growth Rate?
The AI in hospitality and tourism market has expanded significantly, projected to rise from $15.69 billion in 2024 to $20.47 billion in 2025 at a CAGR of 30.5%, driven by automated customer support, personalization, optimized revenue strategies, streamlined operations, and predictive data use.

The AI in hospitality and tourism market is projected to see significant growth, reaching $58.56 billion by 2029 at a CAGR of 30.1%, supported by customer service automation, operational optimization, data-driven insights, and AI assistants. Trends will include personalized services, chatbots, demand prediction, fraud mitigation, and robotic automation.

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How Are Emerging Segments Shaping the AI in Hospitality And Tourism Market Landscape?
The AI in hospitality and tourism market covered in this report is segmented -

1) By Type: Natural Language Processing (NLP) Applications, Machine Learning Algorithms, Computer Vision And Image Recognition, Chatbots And Virtual Assistants, Recommendation Systems, Sentiment Analysis
2) By Application: Customer Service And Support, Personalized Marketing And Advertising, Hotel And Room Booking Systems, Virtual Concierge Services, Smart Guest Room Automation, Data Analytics And Business Intelligence, Revenue Management And Pricing Optimization
3) By End-User: Hotels And Resorts, Airlines And Airports, Travel Agencies And Tour Operators, Restaurants And Food Service Providers, Cruise Lines And Maritime Tourism, Online Travel Platforms And Booking Websites

Subsegments:
1) By Natural Language Processing (NLP) Applications: Language Translation, Voice Recognition, Text Analysis, Speech-To-Text Conversion
2) By Machine Learning Algorithms: Predictive Analytics, Demand Forecasting, Dynamic Pricing Models, Customer Segmentation
3) By Computer Vision And Image Recognition: Facial Recognition For Check-In, Visual Quality Inspection, Object Detection In Security, Automated Identification For Guest Preferences
4) By Chatbots And Virtual Assistants: Customer Service Chatbots, Booking And Reservation Assistants, Travel Information Assistants, In-Room Virtual Assistants
5) By Recommendation Systems: Personalized Destination Recommendations, Activity And Event Suggestions, Dining And Cuisine Recommendations, Hotel Room And Amenity Recommendations
6) By Sentiment Analysis: Customer Feedback Analysis, Review Monitoring And Analysis, Brand Reputation Management, Social Media Sentiment Tracking

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Which Growth Factors Are Influencing AI in Hospitality And Tourism Market Expansion?
The expanding tourism sector is contributing to the growth of the AI in hospitality and tourism market, with advancements in AI helping to streamline operations and customize traveler experiences. As reported by Statistics Canada in April 2024, international visitor spending in Canada rose by 1.8% in Q1, driven by increased spending on accommodation and food services, each rising by 2.0%.

Who Are the Dominant Players Across Different AI in Hospitality And Tourism Market Segments?
Major companies operating in the AI in hospitality and tourism market are Google LLC, Microsoft Corporation, accenture* PLC, 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

What Are the Latest Developing Trends in the AI in Hospitality And Tourism Market?
Firms in the AI in hospitality and tourism market are emphasizing generative AI to elevate customer support experiences. In June 2024, Sabre Hospitality, a US-based tech firm, launched SynXis Concierge.AI-its first generative AI product-to assist hoteliers in providing accurate and instant answers to customer questions. Initially, Sabre's Customer Care and Delivery team will use this solution to streamline service responses.

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Which Geographic Regions Are Expected to Dominate the AI in Hospitality And Tourism Market in the Coming Years?
North America was the largest region in the AI in hospitality and tourism market in 2023. The regions covered in the AI in hospitality and tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI in Hospitality And Tourism Market?
2. What is the CAGR expected in the AI in Hospitality And Tourism Market?
3. What Are the Key Innovations Transforming the AI in Hospitality And Tourism Industry?
4. Which Region Is Leading the AI in Hospitality And Tourism Market?

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