Global Smart Tourism Market Analysis and Global Forecast 2021-2034

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Global Smart Tourism Market Research Report: Information Type (Online and Offline), By Application (Making Reservations, Translation Services, Direction Guidance, Audio Guidance), and by Region — Forecast till 2034

Page: 140

Report Published on: November 9, 2024
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Description

Global Smart Tourism Market Overview

The Global Smart Tourism Market size accounted for USD 28.12 Billion in 2023 and is estimated to account for 29.55 Billion in 2024. The Market is expected to reach USD 65.78 Billion by 2034 growing at a compound annual growth rate (CAGR) of 16% from 2024 to 2034. Smart Tourism is an important component of Smart Cities and capitalizes on attracting tourists from all around the world to help expand tourism activity. Not only can it help with attracting more tourists but it also opens up new opportunities. Smart Tourism is focused on cutting-edge applications of communication and technology to emerging innovative tools and models for promoting tourism. The goal is to provide personalized communication and real-time information that allow tourists to make well-informed decisions when it comes to traveling.

Global Smart Tourism Market Synopsis

Global Smart Tourism MarketGlobal Smart Tourism Market Dynamics

The major factors that have impacted the growth of Global Smart Tourism are as follows:

Drivers:

Ø  Increasing Popularity of Smart Infrastructure

New technologies are being used to enhance online travel booking websites, with a focus on multiple functionalities. Some of these services include location tracking, payment gateways, and more. Additional features make it easier to communicate and have a personalized experience, which is increasing the adoption of smart tourism. The increasing adoption of smart devices including phones and laptops supports the demand for smart tourism mobile applications.

Restraint:

  • Perception of Lower Quality

The primary challenges facing the smart tourism industry today are keeping up with the changes in technology, ensuring a safe and secure environment for visitors, and the need for more robust data and analytics. . The tourism industry is faced with numerous competing streams of information, but the data that is most relevant to planning, marketing, and operational decisions comes from a variety of sources. The size, frequency, and intensity of tourism events can all impact a destination’s infrastructure needs, congestion, and air quality. Locations also face challenges in identity theft, cybercrime, and terrorism as they become more popular. The key to managing the potential risks associated with tourism is to ensure that appropriate and sufficient policies, regulations, legislation, and enforcement mechanisms are in place at the national and international levels to protect both visitors and the host country.

Opportunity:

  • The emergence of Smart Cities

The market for smart tourism is becoming increasingly popular as more people are being convinced of the importance of these technologies both in determining what tourist experience they should have and how they should be operated. The rise of smart cities, thanks to a more sustainable approach to urban planning, has made the hotel and tourism industry evolve positively. Intelligent solutions such as Smart Tourism Market, which uses IoT technology to create “smart” services for the touristic experience and operation, are opening up new possibilities for the hospitality business. As more and more smart cities are being built, the Global Smart Tourism Market is expected to grow and contribute significantly to the worldwide market.

Global Smart Tourism Segment Overview

By Type

Global Smart Tourism Market Type AnalysisBased on the Type, the Smart Tourism market is segmented based on Online and Offline Offerings. The Online segment is anticipated to account for the large market share because this is due to the significant advancement in technology and smart infrastructure. The online offering type allows tourists to explore mobile and internet applications’ smart tourism features. Advancements in online platforms offer features like GPS, payment gateways, reservations, and other functions that are expected to enhance the personalized experience for tourists.

By Application

Based on Industry, the global Smart Tourism market has been divided into Making Reservations, Translation Services, Direction Guidance, and Audio Guidance. The Direction Guidance is expected to hold the largest market share. This helps tourists to know where exactly they are headed and it’s also a time-consuming feature for avoiding any type of misguiding.

Global Smart Tourism Market Regional Analysis

Based on region, the Global Smart Tourism market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Global Smart Tourism market followed by the Asia-Pacific and Europe regions.

Global Smart Tourism Market Regional AnalysisGlobal Smart Tourism North America Market

The North American region is projected to dominate the smart tourism market during the forecast period. Initiatives such as those taken by various countries in this region to develop strong technological infrastructure will steer demand for smart tourism solutions in this region. This has led to an increase in the number of visits by tourists across major cities in Canada and the US, which has increased the demand for smart tourism solutions among tourists through their country’s digital platforms. These factors point to substantial growth in the North American market resulting from evolving benefits over the next few years.

Global Smart Tourism Asia-Pacific Market

Latin American regions are expected to have the highest rate of CAGR in terms of Smart Tourism due to more users opting for technology-driven travel services such as online hotel room booking, online ticket booking for tourist attractions, etc. Further, the number of international tourists across Latin America is projected to increase over the next few years; this should result in a rise in demand for tourist guides and a consequent increase in the growth of that Latin American market.

Competitive Landscape

The Global Smart Tourism market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as Type launches, and strategic alliances.

Prominent Players:

  • Booking Holdings
  • TripAdvisor
  • Expedia
  • HomeAway
  • Kayak
  • QUNR
  • Ctrip
  • MakeMyTrip
  • TravelZoo
  • SABRE CORPORATION
  • Opodo
  • Travelgenio
  • Voyages
  • Webjet

Key Development

In October 2020, Vrbo partnered with NoiseAware LLC to give access to noise monitoring solutions and visitor restriction services for the management of their properties. The solution is often helpful in avoiding and removing unruly visitors, which can help prevent damage to private property.

Scope of the Report

Global Smart Tourism Market, by Type
  • Online
  • Offline
Global Smart Tourism Market, by Application
  • Making Reservations
  • Translation Services
  • Direction Guidance
  • Audio Guidance
Global Smart Tourism Market, by Region
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
    • Nordic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Indonesia
    • Austalia
    • Malaysia
    • India
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of Middle East & Africa

 

Parameters Indicators
Market Size 2033: $65.78 Billion
CAGR 16% CAGR (2023-2033)
Base year 2022
Forecast Period 2023-2033
Historical Data 2021
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations Type, Application
Geographies Covered North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors Booking Holdings, TripAdvisor, Expedia, HomeAway, Kayak, QUNR, Ctrip, MakeMyTrip, TravelZoo, SABRE CORPORATION, Opodo, Travelgenio, Voyages, Webjet and com
Key Market Opportunities • The emergence of Smart Cities
Key Market Drivers • Increasing Popularity of Smart Infrastructure

 

REPORT CONTENT BRIEF:

  • High-level analysis of the current and future Global Smart Tourism market trends and opportunities
  • Detailed analysis of current market drivers, restraining factors, and opportunities in the future
  • Global Smart Tourism market historical market size for the year 2022, and forecast from 2021 to 2034
  • Global Smart Tourism market share analysis at each Type level
  • Competitor analysis with detailed insight into its Type segment, Government & Defense strength, and strategies adopted.
  • Identifies key strategies adopted including Type launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
  • To identify and understand the various factors involved in the Global Smart Tourism market affected by the pandemic
  • To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, Type offering, recent developments, SWOT analysis, and key strategies.

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Frequently Asked Questions (FAQ)

The Global Smart Tourism market is growing at a CAGR of 16% over the next 10 years

Asia Pacific is expected to register the highest CAGR during 2021-2034

Booking Holdings, TripAdvisor, Expedia, HomeAway, Kayak, QUNR, Ctrip, MakeMyTrip, TravelZoo, and SABRE CORPORATION Opodo, Travelgenio, Voyages, Webjet and com are the major companies operating in the market.

Yes, we offer 16 hours of analyst support to solve the queries

Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives

Table of Contents

Table of Contents

Chapter 1.   Executive Summary

Chapter 2.   Scope Of Study

                      2.1.   Market Definition

                      2.2.   Scope Of The Study

                                2.2.1.   Objectives of Report

                                2.2.2.   Limitations

                      2.3.   Market Structure

Chapter 3.   Evolve BI Methodology

Chapter 4.   Market Insights and Trends

                     4.1.   Supply/ Value Chain Analysis

                                4.1.1.   Raw Application Providers

                                4.1.2.   Manufacturing Process

                                4.1.3.   Distributors/Retailers

                                4.1.4.   End Users

                      4.2.   Porter’s Five Forces Analysis

                                4.2.1.   Threat Of New Entrants

                                4.2.2.   Bargaining Power Of Buyers

                                4.2.3.   Bargaining Power Of Suppliers

                                4.2.4.   Threat Of Substitutes

                                4.2.5.   Industry Rivalry

                      4.3.   Impact Of COVID-19 on Smart Tourism Market

                                4.3.1.   Impact on Market Size

                                4.3.2.   End User Trend, Preferences, and Budget Impact

                                4.3.3.   Regulatory Framework/Government Policies

                               4.3.4.   Key Player's Strategy to Tackle Negative Impact

                                4.3.5.   Opportunity Window

                      4.4.   Technology Overview

                      4.5.   Macro factor

                      4.6.   Micro Factor

                        4.7.   Demand Supply Gap Analysis of Smart Tourism Market

                        4.8.   Import Analysis of Smart Tourism Market

                        4.9.   Export Analysis of Smart Tourism Market

Chapter 5.   Market Dynamics 

                     5.1.   Introduction

                      5.2.   DROC Analysis

                                5.2.1.   Drivers

                                5.2.2.   Restraints

                                5.2.3.   Opportunities

                               5.2.4.    Challenges

                      5.3.   Patent Analysis

                      5.4.   Industry Roadmap

                      5.5.   Parent/Peer Market Analysis

Chapter 6.   Global Smart Tourism Market, By Type

                      6.1.   Online

                      6.2.   Offline

Chapter 7.   Global Smart Tourism Market, By Application

                      7.1.   Making Reservations

                      7.2.   Translation Services

                      7.3.   Direction Guidance

                      7.4.   Audio Guidance

Chapter 8.   Global Smart Tourism Market, By Region

                      8.1.   Introduction

                      8.2.   North America

                                8.2.1.   Introduction

                                8.2.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                8.2.3.   Market Size and Forecast, By Country, 2020 - 2028

                                8.2.4.   Market Size and Forecast, By Product Type, 2020 - 2028

                                8.2.5.   Market Size and Forecast, By Application, 2020 – 2028

                                8.2.6. the US

                                               8.2.6.1.   Introduction

                                              8.2.6.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.2.6.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.2.6.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.2.7.   Canada

                                               8.2.7.1.   Introduction

                                               8.2.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.2.7.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.2.7.4.   Market Size and Forecast, By Application, 2020 - 2028

                      8.3.   Europe

                                8.3.1.   Introduction

                                8.3.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                8.3.3.   Market Size and Forecast, By Country, 2020 - 2028

                                8.3.4.   Market Size and Forecast, By Product Type, 2020 - 2028

                                8.3.5.   Market Size and Forecast, By Application, 2020 – 2028

                                8.3.6.   Germany

                                               8.3.6.1.   Introduction

                                               8.3.6.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.3.6.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.3.6.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.3.7.   France

                                              8.3.7.1.   Introduction

                                               8.3.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.3.7.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.3.7.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.3.8. the UK

                                               8.3.8.1.   Introduction

                                               8.3.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.3.8.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.3.8.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.3.9.   Italy

                                               8.3.9.1.   Introduction

                                               8.3.9.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.3.9.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.3.9.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.3.10.   Rest Of Europe

                                               8.3.10.1.   Introduction

                                               8.3.10.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.3.10.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.3.10.4.   Market Size and Forecast, By Application, 2020 - 2028

                      8.4.   Asia-Pacific

                                8.4.1.   Introduction

                               8.4.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                8.4.3.   Market Size and Forecast, By Country, 2020 - 2028

                                8.4.4.   Market Size and Forecast, By Product Type, 2020 - 2028

                                8.4.5.   Market Size and Forecast, By Application, 2020 - 2028

                                8.4.6.   China

                                              8.4.6.1.   Introduction

                                               8.4.6.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.4.6.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.4.6.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.4.7.   India

                                               8.4.7.1.   Introduction

                                              8.4.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.4.7.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.4.7.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.4.8.   Japan

                                               8.4.8.1.   Introduction

                                               8.4.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.4.8.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.4.8.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.4.9.   South Korea

                                               8.4.9.1.   Introduction

                                               8.4.9.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.4.9.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.4.9.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.4.10.   Rest Of Asia-Pacific

                                               8.4.10.1.   Introduction

                                               8.4.10.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.4.10.3.    Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.4.10.4.   Market Size and Forecast, By Application, 2020 - 2028

                      8.5.   Rest Of The World (RoW)

                                8.5.1.   Introduction

                                8.5.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                8.5.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                8.5.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.5.5.   Market Size and Forecast, By Region, 2020 - 2028

                                8.5.6.   South America

                                               8.5.6.1.   Introduction

                                               8.5.6.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                               8.5.6.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.5.6.4.   Market Size and Forecast, By Application, 2020 - 2028

                                8.5.7.   The Middle East and Africa

                                               8.5.7.1.   Introduction

                                               8.5.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.5.7.3.    Market Size and Forecast, By Product Type, 2020 - 2028

                                               8.5.7.4.   Market Size and Forecast, By Application, 2020 - 2028

Chapter 9.    Competitive Landscape

                      9.1.   Introduction

                      9.2.   Vendor Share Analysis, 2020/Key Players Positioning, 2020

Chapter 10.   Company Profiles

                      10.1.   Booking Holdings

                                10.1.1.   Business Overview

                                10.1.2.   Financial Analysis

                                10.1.3.   Product Portfolio

                                10.1.4.   Recent Development and Strategies Adopted

                                10.1.5.   SWOT Analysis

                      10.2.   TripAdvisor

                                10.2.1.   Business Overview

                                10.2.2.   Financial Analysis

                                10.2.3.   Product Portfolio

                                10.2.4.   Recent Development and Strategies Adopted

                                10.2.5.   SWOT Analysis

                      10.3.   Expedia

                                10.3.1.   Business Overview

                                10.3.2.   Financial Analysis

                                10.3.3.   Product Portfolio

                                10.3.4.   Recent Development and Strategies Adopted

                                10.3.5.   SWOT Analysis

                      10.4.   HomeAway

                                10.4.1.   Business Overview

                                10.4.2.   Financial Analysis

                                10.4.3.   Product Portfolio

                                10.4.4.   Recent Development and Strategies Adopted

                                10.4.5.   SWOT Analysis

                      10.5.   Kayak

                                10.5.1.   Business Overview

                                10.5.2.   Financial Analysis

                                10.5.3.   Product Portfolio

                                10.5.4.   Recent Development and Strategies Adopted

                               10.5.5.   SWOT Analysis

                      10.6.   QUNR

                                10.6.1.   Business Overview

                                10.6.2.   Financial Analysis

                                10.6.3.   Product Portfolio

                               10.6.4.   Recent Development and Strategies Adopted

                                10.6.5.   SWOT Analysis

                      10.7.    Ctrip

                                10.7.1.   Business Overview

                                10.7.2.   Financial Analysis

                                10.7.3.   Product Portfolio

                                10.7.4.   Recent Development and Strategies Adopted

                                10.7.5.   SWOT Analysis

                      10.8.   Orbitz

                                10.8.1.   Business Overview

                                10.8.2.   Financial Analysis

                                10.8.3.   Product Portfolio

                                10.8.4.   Recent Development and Strategies Adopted

                                10.8.5.   SWOT Analysis

                      10.9.   MakeMyTrip

                                10.9.1.   Business Overview

                               10.9.2.   Financial Analysis

                                10.9.3.   Product Portfolio

                                10.9.4.   Recent Development and Strategies Adopted

                                10.9.5.   SWOT Analysis

                     10.10.   TravelZoo

                                10.10.1.   Business Overview

                                10.10.2.   Financial Analysis

                                10.10.3.   Product Portfolio

                                10.10.4.   Recent Development and Strategies Adopted

                                10.10.5.   SWOT Analysis

                      10.11.   Sabre Corporation

                      10.12.   Opodo

                      10.13.   Travelgenio

                      10.14.   Voyages

                      10.15.   Webjet

Chapter 11.   Key Takeaways

 

Connect to Analyst

Connect to Analyst

 

 

Research Methodology

Research Methodology