Generative AI in Hospitality Market Size Projected To Reach $138.45 Billion By 2034 With A Cagr Of 41.8%

The Generative AI in Hospitality 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]._x000D_
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What Is the Projected Growth of the Generative AI in Hospitality Market?_x000D_
The generative AI in hospitality market size will grow from $24.08 billion in 2024 to $34.22 billion in 2025, with a CAGR of 42.1%. The historic growth is attributed to the increasing demand for personalized guest experiences, the rise of data availability and analytics, the need for operational efficiency and cost reduction, higher customer expectations for automation, and improvements in machine learning algorithms._x000D_
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The generative AI in hospitality market size is expected to reach $138.45 billion in 2029 at a CAGR of 41.8%. Growth is attributed to the growth of smart technology infrastructure, integration with existing systems, demand for contactless services, AI in guest personalization, and expanding global travel markets. Trends include AI-driven dynamic pricing, VR and AR experiences, sophisticated chatbots, AI-based predictive analytics, and AI-IoT integration._x000D_
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What Are the Different Generative AI in Hospitality Market Segments?_x000D_
The generative AI in hospitalitymarket covered in this report is segmented -_x000D_
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1) By Component: Software, Services_x000D_
2) By Customer Size: Large Hotel Chains And Resorts, Small Boutique Hotels, Mid-Sized Hotels And Chains_x000D_
3) By Application: Chatbots And Virtual Assistants, Personalized Recommendations, Demand Forecasting, Voice Assistants, Predictive Maintenance, Guest Experience Enhancement, Other Applications_x000D_
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Subsegments:_x000D_
1) By Software: Customer Service Chatbots, Virtual Assistants, Personalized Recommendation Engines, Automated Content Creation Tools, Predictive Analytics Software_x000D_
2) By Services: Consulting Services, Implementation And Integration Services, Support And Maintenance Services, Training And Development Services, Managed Services._x000D_
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What Are the Primary Drivers Shaping the Generative AI in Hospitality Market?_x000D_
The expanding tourism sector is expected to fuel the growth of the generative AI in hospitality market. This expansion is being driven by factors such as rising disposable incomes, better travel infrastructure, global connectivity, and a stronger interest in unique experiences. Generative AI supports tourism by enhancing guest personalization, improving service delivery, and streamlining operations. For example, in May 2024, the Office for National Statistics reported that the UK welcomed 38.0 million overseas visitors in 2023, up from 31.2 million in 2022, with a spending increase of $5.91 billion (£4.6 billion). UK residents also took 86.2 million trips abroad, up from 71.0 million in 2022, with a spending growth of $17.87 billion (£13.9 billion). Thus, the rising tourism industry is boosting the generative AI in hospitality market._x000D_
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Which Companies Are Leading in the Generative AI in Hospitality Market?_x000D_
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_x000D_
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What Trends Are Driving Growth in The Generative AI in Hospitality Market?_x000D_
In the generative AI for hospitality market, companies are integrating generative AI to improve guest interactions, streamline operations, and personalize services. For example, in June 2024, Sabre Hospitality introduced SynXis Concierge.AI, a tool that generates content from text and images to autonomously answer customer queries. This reduces the reliance on support agents' direct knowledge while ensuring accurate, immediate responses._x000D_
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What Are the Top Revenue-Generating Geographies in the Generative AI in Hospitality Market?_x000D_
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._x000D_
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Frequently Asked Questions:_x000D_
1. What Is the Market Size and Growth Rate of the Generative AI in Hospitality Market?_x000D_
2. What is the CAGR expected in the Generative AI in Hospitality Market?_x000D_
3. What Are the Key Innovations Transforming the Generative AI in Hospitality Industry?_x000D_
4. Which Region Is Leading the Generative AI in Hospitality Market?_x000D_
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Why This Report Matters:_x000D_
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Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors._x000D_
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