The Global Smart Tourism market is estimated to record a CAGR of around 18.1% during the forecast period
Evolve Business Intelligence has published a half-cooked research report on the Global Smart Tourism Market, 2021–2030. The global Smart Tourism market is projected to exhibit a CAGR of around 18.1% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Smart Tourism market are Booking Holdings, TripAdvisor, Expedia, HomeAway, Kayak, QUNR, Ctrip, Orbitz, MakeMyTrip, TravelZoo, Sabre Corporation, Opodo, Travelgenio, Voyages, Webjet, Wotif.com
Market Highlights
The global Smart Tourism market is projected to be valued at USD XXX Billion by 2030, recording a CAGR of around 18.1% during the forecast period. Smart tourism provides a way to promote the growth of the high-quality tourism industry and improve people’s lives. The Tourism Industry is witnessing innovation happening all over the world concerning smart tourism. Different countries are constructing high-quality smart tourism attractions, innovating new public service models for tourism, and promoting the transformation and up-gradation of Smart tourism products. One way that’s been helping with all of these functions of future travel is eGov implementation in India. The Smart Tourism market is projected to exhibit lucrative growth between 2020 and 2030. The Smart Tourism market is characterized by the growing number of tourists and government initiatives to increase the investments in tourism. The increasing demand for new and innovative applications among organizations together with the rise in connectivity will drive the global growth of the Smart Tourism market.
The COVID-19 outbreak has had a significant impact on the Smart Tourism market. Tourists are worried about contracting the virus and avoiding the areas where outbreaks are more likely to occur. Smart Tourism market costs are expected to increase as a result of the outbreak. COVID-19 is not an existential threat, but it has already changed the prevailing paradigm in which tourists are willing to travel to areas with outbreaks. Tourists are more worried about contracting the virus and avoiding affected regions.
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Segmental Analysis
The global Smart Tourism market has been segmented based on the type, application, and region.
By Type, the Smart Tourism market is segmented based on Online and Offline Offerings. The Online segment dominates the market. Online offerings are software programs that allow mobile and internet applications to explore smart tourism features. Offline offerings are products such as digital maps, guidebooks, e-tickets, and hotel room reservations that can be purchased in person or online. The dominance of the Online segment can be linked to the quick adaptation of the smart infrastructure and online applications. These Online offerings have things easier and reduced the need for a trip planner.
Based on Application, the Smart Tourism market is segmented based on Making Reservations, Translation Services, Direction Guidance, and Audio Guidance. The Direction Guidance segment is anticipated to hold the largest market share as every tourist would need directions and routes of the particular region. This enhances the tourist experience and reduces time wasted because of misguidance.
Regional Analysis
North America is anticipated to contribute a significant share in the global Smart tourism market owing to the substantial investments by private tourism agencies to offer a better experience to tourists. High-end tourism is anticipated to witness substantial growth in the global Smart tourism market owing to the high quality and affordable offer. Latin America is expected to account for the highest CAGR of the global smart tourism market. This is due to the region’s rising number of international arrivals and a growing middle-class population with high travel demand. Europe is likely to hold a significant share in the global Smart tourism market because of a considerable number of tourists visiting Europe every year. The Asia-Pacific region is expected to experience continued growth in the smart tourism market, driven by many factors such as international tourist arrivals, increasing numbers of ultra-high net worth individuals, and the attraction for the big companies to invest.
