DELRAY BEACH, Fla., Dec. 17, 2024 /PRNewswire/ -- The AI in Tourism Market is expected to reach USD 13.38 billion by 2030 from USD 2.95 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 28.7 % from 2024-2030, according to a new report by MarketsandMarkets. AI-based security systems are the key enablers that are helping improve the safety levels inside the tourism industry. Advanced technological factors such as facial recognition, biometric authentication, and AI-based surveillance systems are implemented in airports, hotels, and travel destinations to make the security process much more streamlined while detecting threats in real-time. Facial recognition at check-in points or border crossing accelerates the process of identity verification, making more efficient than usual operations while saving time. AI surveillance systems help scan larger areas and detect suspicious activities and alert the authorities to a more proactive attitude toward safety. These AI security solutions ensure safe traveling by also enhancing efficiency in operations, thus making the traveling process much easier and safer for any traveler.
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362 - Tables
56 - Figures
305 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2019-2030 |
Base year considered | 2024 |
Forecast period | 2024-2030 |
Forecast units | Value (USD Billion) |
Segments Covered | by offering (solutions and services), by type (Generative AI, other AI), by end user (travel industry, hospitality industry) |
Region covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. |
Companies covered | Snowflake (US), IBM (US), NVIDIA (US), Microsoft (US), AWS (US), Salesforce (US), Huawei (China), Appier (Taiwan), Sabre Corporation (US), SAS Institute (US), [24]7.ai (US), Virtusa Corporation (US), Travelport (UK), Amadeus (Spain), Devox Software (Poland), AltexSoft (US), Jio Haptik Technologies Limited (India), SHR Group (US), Duve (US), Nexscient (US), Persado (US), Canary Technologies (US), Mize (US), FLYR (US), Geovea (US), Layla AI (Germany) |
Based on type, the Other AI segment to hold the largest market size during the forecast period.
Other AI segments include various advanced technologies such as machine learning, natural language processing (NLP), computer vision, and predictive analytics. They play pivotal roles in the transformation of the Tourism industry. Businesses can now analyze large amounts of information and find trends to improve operational efficiency and provide individualized services, such as dynamic pricing or customized promotions, by using machine learning. Chatbots and virtual assistants powered by natural language processing (NLP) make it easier for travelers and service providers to communicate by comprehending and quickly responding to customer inquiries. Computer vision enhances airport security, customer satisfaction, and personal security through automated surveillance and facial recognition at check-ins. By predicting customer behaviors like booking patterns or airline delays, predictive analytics enables companies to make data-driven decisions that enhance productivity and customer satisfaction. These AI technologies work together to revolutionize the tourism industries and serve as the foundation for innovation.
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The services segment to have highest growth during the forecast period.
Tourism businesses utilize wide range of services to enhance the AI optimization of their infrastructure and handle several professional or managed services. To assist organizations in utilizing AI while ensuring a smooth interface with their present systems, professional services offer training and consulting. This simplifies routine tasks such as providing personalized advertising and improving customer service. Support and maintenance are essential for AI applications to run smoothly and meet the growing needs of enterprises. While AI experts handle efficiency by offering complete AI solutions, including monitoring and ongoing management, managed services let businesses concentrate on their core strengths.
North America is expected to hold the second-largest market size during the forecast period.
The US is expediting the adoption of AI in various industries, including tourism, through public funding & initiatives. In May 2023, the National Science Foundation granted USD 140 million to launch seven National Al Research Institutes to support the development of Al as well as to increase diversity in the workforce. In July 2024, Wyndham Hotels & Resorts launched Wyndham Connect. It leverages Al and large language models to elevate guest experience with mobile tipping and AI messaging, while also driving revenue across its various franchises. In April 2024, Canada announced USD 2.07 billion package in its federal budget for the Canada's Al sector. Additionally, in December 2023, NVIDIA Metropolis and Inception member Sensors deployed its visual AI platform at Toronto Pearson International Airport to significantly reduce wait times in customs lines. In addition to providing airport operators with data-driven insights, live wait-time statistics from sensors AI are published on Toronto Pearson's online dashboard, as well as on electronic displays in the terminals. This lets passengers easily access accurate information about how long customs or security processes will take. These factors contribute to the overall adoption of AI in tourism solutions in the region.
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Top Key Companies in Artificial Intelligence in Tourism Market:
The major vendors covered in the AI in Tourism Market are Snowflake (US), IBM (US), NVIDIA (US), Microsoft (US), AWS (US), Salesforce (US), Huawei (China), Appier (Taiwan), Sabre Corporation (US), SAS Institute (US), [24]7.ai (US), Virtusa Corporation (US), Travelport (UK), Amadeus (Spain), Devon Software (Poland) , Artisoft (US), Jio Haptik Technologies Limited (India), SHR Group (US), Duve (US), Nescient (US), Persado (US), Canary Technologies (US), Mize (US), FLYR (US), Geovana (US), Layla AI (Germany). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the AI in Tourism Market.
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