Navigating the Future: AI in Hospitality And Tourism Market Trends and Forecast Insights, 2025 Edition

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AI in Hospitality And Tourism Market Size Growth Forecast: What to Expect by 2025?
The market size of AI in the hospitality and tourism sector has seen a rapid increase lately. It is projected to expand from a value of $15.69 billion in 2024 to $20.47 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 30.5%. Factors such as automation in customer service, customization, revenue administration, operational proficiency, and foreseeing analytics have contributed to this growth in the historical period.

How Will the AI in Hospitality And Tourism Market Size Evolve and Grow by 2029?
The market size for AI in hospitality and tourism is anticipated to undergo rapid expansion in the years to come. The predicted value by 2029 is $58.56 billion with a compound annual growth rate (CAGR) of 30.1%. Such growth during the forecast period will be propelled by factors such as improved customer service, operational effectiveness, data analysis and insights, intelligent suggestions and chatbots, and virtual assistants. The prediction period will also witness trends like customised guest experiences, chatbots and virtual assistants, demand forecasting through predictive analytics, increased security and fraud protection, and robotic process automation (RPA).

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What Drivers Are Propelling the Growth of AI in Hospitality And Tourism Market Forward?
AI in hospitality and tourism market is set to see a rise due to the expansion of the tourism industry. This industry includes various services and activities connected with individuals traveling outside their regular surroundings for leisure, business, or other reasons. The sector's growth can be attributed to greater global movement, rising disposable incomes, and people's increasing desire for distinct travel experiences. AI plays a significant role in improving customer service, optimizing operations, and tailoring travel experiences using advanced technologies such as predictive analytics, chatbots, and recommendation systems. For example, Statistics Canada, a Canada-based government organization, reported in April 2024 that tourism spending by foreign visitors in Canada rose by 1.8% in the first quarter, following a 4.0% increase in the previous quarter. This increase was primarily due to spending on food and beverage services, as well as accommodations, which collectively went up by 2.0%. In addition, the number of travelers from overseas entering Canada expanded by 1.7%. Consequently, the booming tourism industry is facilitating the growth of AI usage in the hospitality and tourism market.

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Which Emerging Trends Are Transforming the AI in Hospitality And Tourism Market in 2025?
Leading enterprises in the AI sector geared towards hospitality and tourism are shifting their attention towards creating high-end solutions like generative AI capabilities to improve customer services within the hospitality industry. Generative AI is an artificial intelligence system engineered to create new content such as text, images, music, or even code, replicating human ingenuity and intellect. For example, in June 2024, Sabre Hospitality, an American tech firm, initiated its first journey into generative AI with the launch of SynXis Concierge.AI, aimed at enhancing customer service in the hospitality industry. This ground-breaking solution is designed to transform the way hoteliers engage with clients by offering quick, comprehensive, and precise answers to inquiries, using Sabre's vast data resources. Initially, this tool will be utilized by Sabre's Customer Care and Delivery team to manage various customer interactions, encompassing questions and problem-solving.

What Are the Key Segments in the AI in Hospitality And Tourism Market?
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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Who Are the Key Players Shaping the AI in Hospitality And Tourism Market's Competitive Landscape?
Major companies operating in the AI in hospitality and tourism market are Google LLC, Microsoft Corporation, 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 Geographic Markets Are Powering Growth in the AI in Hospitality And Tourism Market?
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.

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