The Future of Travel: AI Innovations Transforming Tourism Industry

According to a research report “Artificial Intelligence in Tourism Market by Solution (Virtual Assistant & Chatbots, Pricing & Revenue Management, Booking Management System), End Users (Maritime Travel, Aviation, Cruise Line Operators, Resorts & Theme Parks) – Global Forecast to 2030″ Published by MarketsandMarkets, The AI industry in tourism is anticipated to grow from USD 2.95 billion in 2024 to USD 13.38 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 28.7% between 2024 and 2030. AI-based security technologies are major enablers in improving safety standards in the tourism industry. Advanced technology components such as facial recognition, biometric authentication, and AI-based surveillance systems are used in airports, hotels, and tourist locations to streamline the security process and detect threats in real time. Facial recognition at check-in points or border crossings speeds up the identity verification process, resulting in more efficient and time-saving operations. AI surveillance systems scan bigger areas, detect suspicious activity, and notify authorities to a more proactive approach to safety. These AI security solutions assure secure travel while also increasing operational efficiency, making the travel experience considerably easier and safer for all travellers.

MARKET DYNAMICS

 DRIVERS

• Rising adoption of data automation tools to ease decision-making process
• Increasing demand for highly personalized services to enhance customer experience

 RESTRAINTS

• • High initial costs

 OPPORTUNITIES

• • Incorporation of AI in areas of tourism revolutionizing customer interaction
  • Emergence of AI-driven applications for flight forecasting

To get lucrative business opportunities Download PDF

“Based on type, the Other AI segment to hold the largest market size during the forecast period.”

Other AI categories include sophisticated technologies like machine learning, natural language processing (NLP), computer vision, and predictive analytics. They play critical roles in the evolution 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 improves airport security, consumer satisfaction, and personal security by automating surveillance and facial recognition at check-in. Predictive analytics allows businesses to make data-driven decisions that increase productivity and customer happiness by predicting customer behaviors such as booking trends or airline delays. These AI technologies collaborate to transform the tourism industry and serve as the foundation for innovation.

“The services segment to have highest growth during the forecast period.”

Tourism organizations use a wide range of services to improve the AI optimization of their infrastructure and manage several professional or managed services. Professional services provide training and advice to help enterprises use AI while maintaining a smooth interaction with their existing systems. This makes everyday activities easier, such as offering personalised advertising and enhancing customer service. Support and maintenance are critical for AI applications to function properly and fulfill the expanding needs of organizations. While AI professionals address efficiency by providing comprehensive AI solutions that include monitoring and continuous maintenance, managed services allow organizations to focus on their core competencies.

“North America is expected to hold the second-largest market size during the forecast period.”

The United States is accelerating the use of AI in a variety of areas, including tourism, through public financing and initiatives. In May 2023, the National Science Foundation awarded USD 140 million to establish seven National Al Research Institutes to promote the development of Al and improve workforce diversity. In July 2024, Wyndham Hotels & Resorts launched Wyndham Connect. It uses Al and huge language models to improve guest experiences through mobile tipping and AI messaging, while also increasing income across its many franchises. In April 2024, Canada announced a USD 2.07 billion package in its federal budget for the country’s aluminum sector. In December 2023, NVIDIA Metropolis and Inception member Sensors implemented their visual AI technology at Toronto Pearson International Airport, drastically reducing customs line wait times. In addition to giving data-driven insights to airport administrators, real wait-time information from sensors AI are shown on Toronto Pearson’s web dashboard and in terminals via electronic displays. This allows passengers to easily obtain reliable information about how long customs or security procedures will take. These characteristics help to drive overall use of AI in tourism solutions in the region.

Market Players

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), F To extend their presence in the AI in tourism market, these firms have used a variety of growth tactics, including partnerships, agreements and collaborations, new product launches, improvements, and acquisitions.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]