2025-2034 AI In Hospitality And Tourism Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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AI In Hospitality And Tourism Market Size Growth Forecast: What to Expect by 2025?
The market size of AI in hospitality and tourism has seen significant growth in recent times. Its size is expected to increase from $15.69 billion in 2024 to $20.39 billion in 2025 with a compound annual growth rate (CAGR) of 30.0%. This growth in the historic period is due to factors like the automation of customer service, personalization, revenue management, enhancement of operational efficiency, and advanced predictive analytics.

How Will the AI In Hospitality And Tourism Market Size Evolve and Grow by 2029?
The market size of artificial intelligence in hospitality and tourism is projected to witness a surging growth in the upcoming years, with expectations to reach $58.29 billion by 2029 at a CAGR of 30.0%. The growth during the predicted period can be attributed to the improvements with regard to customer experience, operational efficiency, data analytics and insights, intelligent suggestions from chatbots, and the use of virtual assistants. Key trends expected during this period encompass personalized service for guests, the utilization of chatbots and virtual assistants, the use of predictive analytics for demand forecasting, strengthened security and fraud prevention measures, and the implementation of robotic process automation (RPA).

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What Drivers Are Propelling the Growth of AI In Hospitality And Tourism Market Forward?
The escalation of the tourism sector is predicted to drive the growth of AI in both the hospitality and tourism market in the near future. The tourism sector comprises all the actions and services associated with the journey of people to locations beyond their habitual environment for recreational, business, or other objectives. Expansion in the tourism sector is happening due to the increased global movement, surging disposable incomes, and the escalating demand for distinctive travel experiences. The application of AI in the tourism sector improves customer service, makes operations efficient, and customizes travel experiences by utilizing sophisticated technologies such as chatbots, predictive analytics, and suggestion systems. For example, in April 2024, as indicated by Statistics Canada, an agency of the Canadian government, the expenditure by international tourists in Canada rose by 1.8% in the initial quarter, after seeing a 4.0% rise in the prior quarter. The main contributors to this growth were spending on accommodation as well as food and beverage services, both witnessing an increase of 2.0%. Additionally, the incoming non-resident travelers in Canada saw a growth of 1.7%. Hence, the expanding tourism sector is fueling the growth of AI in the hospitality and tourism market.

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Which Emerging Trends Are Transforming the AI In Hospitality And Tourism Market in 2025?
Major companies operating in AI in hospitality and tourism market are increasing their focus on developing advanced solutions, such as generative AI features, to enhance customer service in the hospitality sector. Generative AI refers to artificial intelligence systems designed to generate new content, such as text, images, music, or even code, that mimics human-like creativity and intelligence. For instance, in June 2024, Sabre Hospitality, a US-based technology company, launched SynXis Concierge.AI, marking its first venture into generative AI to enhance customer service in the hospitality sector. This innovative solution aims to revolutionize how hoteliers interact with customers by providing immediate, detailed, and accurate responses to inquiries, leveraging Sabre's extensive data resources. Initially, the tool will be used by Sabre's Customer Care and Delivery team to handle various customer interactions, including questions and issue resolution.

What Are the Key Segments in the AI In Hospitality And Tourism Market?
The ai in hospitality and tourismmarket 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 2024. 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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