Smart Tourism Market Analysis, Revenue Growth Demand and Forecast - 2031

Smart Tourism is considered a dominant component of smart cities and is contributed to attracting supplemental and proliferated tourists from various economies, to expand and encourage tourism activity. Smart Tourism offers relevant applications of communication and information technology with the aim of emerging innovative tools and approaches to promoting tourism. The feature enables to provide personalized communication and real-time information that allows tourists for making smart decisions. 

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The Global Smart Tourism Market is growing at a steady rate and is expected to rise with a significant CAGR during the forecast period 2024-2031. The increasing advancement in technologies including- cloud computing, artificial intelligence, the internet of things, mobile communication, virtual reality, and ICT. These are some segments that positively impact the market growth of the Global Smart Tourism Market. The sequentially rising emergence in the field of smart cities propels the market growth of the Smart Tourism Market, as it leverages tourist experience and tourism operation, in order to explore modern techniques. Thus, the rapidly growing smart cities are expected to create various growth opportunities for the Global Smart Tourism Market and are estimated to raise the market value during the forecast period. 

Additionally, the rapidly increasing trends to explore innovative places and various locations among emerging economies are anticipated to drive the growth of the Global Smart Tourism Market and leverage ample growth opportunities for the market during the forecast period. Mobile applications, near field communication, and augmented reality, are some specific smart tourism tools that are subjected to elevate the performance and operations of smart tourism. Thus, it will impart significant factors to drive the growth of the Global Smart Tourism Market.  

Furthermore, the growth of the Global Smart Tourism Market in terms of market shares and revenues is studied on the basis of segmental analysis. The Smart Tourism Market is segmented By Offerings Type, By Application, and by Region. Based on the Offerings Type, the Smart Tourism Market is bifurcated into Online and Offline segments. The online offering type allows mobile and internet applications to explore smart tourism features and thus, the market is dominated by the Online Offering segment. The increasing technological advancement in this platform that introduces location tracking, payment gateways, reservation, and other features, are expected to improve tourists’ personalized and communication experience and promote the growth of the Global Smart Tourism Market. 

Based on the Application, the Smart Tourism Market is segmented into- Making Reservations, Translation Services, Direction Guidance and Audio Guidance. Where making reservation segment offers reliable and effective options to go through the reservation process and choose the location to improve tourism operations. The Translation Services enables tourists to collect location details in the local language. The Direction Guidance is the most dominant application that leverages the tourists about routes and direction of a particular region to enhance their experience and additionally, it serves as a time-consuming feature by avoiding misguide. This application segment is expected to hold the largest market size and shares for the Global Smart Tourism Market during the forecast period. Additionally, the Audio Guidance Application provides recorded audio sounds for the tourists to explore the place and encourage Smart Tourism Actions. 

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Market Coverage

• Segment Covered- 

o             By Offering Type

o             By Application

• Competitive Landscape- Booking Holdings, TripAdvisor, Expedia, HomeAway, Kayak, QUNR, Ctrip, Orbitz, MakeMyTrip, TravelZoo, Sabre Corporation, Opodo, Travelgenio, Voyages, Webjet, Wotif.com, among others. 

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominates the market in base year?
• Which segment and region will project fastest growth in the market?
• How COVID-19 impacted the market?

o             Recovery Timeline

o             Deviation from pre-COVID forecast

o             Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Smart Tourism Market Segment

By Offering Type

• Online
• Offline 

By Application

• Making Reservations
• Translation Services
• Direction Guidance
• Audio Guidance
• Others 

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