About Internet Of Things In Tourism
The tourism industry is often considered as a slower adopter of technology, but still, continuous advancement in the latest innovations and development in Information and Communication Technologies (ICT) has driven the Global IoT in the tourism market. The use of technology in the tourism sector has helped both the tourist as well as the tourism industry. The tourism industry is using ICT to obtain information on nearly all tourism transactions, market structure, customer needs etc. in one single electronic platform. C-suite is marking up investments for Mobility and IoT systems which is directly impacting cost efficiencies and streamlining operations. Very little research has been done since this market is still an upcoming sector. IoT is enabling new methods for guests to keep tabs on security line wait using RFID (Radio Frequency Identification Technology). However, Beacons will play an important role in transmitting relevant, targeted information or to broadcast useful information to Smartphones. These are being used at airports to figure out how long it’s going to get through security lines.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is concentrated with very few key players who are involved in a fierce competition within the tourism industry. The stakeholders are taking innovative steps towards enhancing their competitive advantage over equal and efficient rivals. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Internet Of Things In Tourism market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tata Consultancy Services (India), Fast stream Tech. (United States), Plintron Mobility Solutions (United States), Orange S.A. (France) and NTT Data (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Internet Of Things In Tourism market by Type (Pressure sensors, Temperature sensors, Light sensors, Chemical sensors, Motion sensors and Others), Application (RFID (Radio Frequency Automation Identification), WSN (Wireless Communication based on Information Sensation), Intelligent Chip, Wireless Communication Technology (WCT), Electronic Product Code (EPC) and Others) and Region.
On the basis of geography, the market of Internet Of Things In Tourism has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Technology, the sub-segment i.e. WiFi sensors will boost the Internet Of Things In Tourism market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Tourism Companies Have Invested Heavily in Technologies like IoT during Internet Escalation and Travel Arrangements are Discussed Online in the Form of Rating, Blogs, Likes and Dislike In the Social Network
Market Growth Drivers:
The Tremendous Growth in Social Media, Increasing Economy and Living Standards of Consumers and Improving Infrastructure in Emerging Economies.
Challenges:
Managing Tourist Destinations as It Involves Factors like Culture, Branding, and Communication and Huge Investment on IoT Security like Technology
Restraints:
Lack of Fully Defined Standards of IoT in the Tourism Industry and Security Issues and Privacy Concerns over Data
Opportunities:
Few Researchers Have Worked in this Market, Hence Making It Mandatory To Unfold Its Full Potential In The Tourism Domain Which In Turns Provides an Opportunity For the Key Manufacturers Of This Market
Market Leaders and their expansionary development strategies
February 2019, Orange and NTT signed a Strategic Research and Development (R&D) framework agreement lasting until 2022 to mutualize research findings in several key domains. These include 5G, network transformation, Artificial Intelligence (AI), Internet of Things (IoT), cybersecurity, cloud services, smart cities, sports, tourism, and culture.
Key Target Audience
IOT Security Provider, Software Developers, Industry Associations and Experts, Private Research Organizations and Consulting Companies, Industry Associations, Government Market Research and Consulting Firm, Stakeholders and IT manufacturers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.