AI in Hospitality Market

Global AI in Hospitality Market Size, Trends & Analysis - Forecasts to 2026 By Technology (Machine Learning, Natural Language Processing, Chatbots or Travel Bots, Blockchain, Big Data, Virtual Assistants), By Type (Food & Beverage, Lodging-Accomodation), By Application (Customer Purchases, Travel Choices, Restaurants, Entertainment, Journey Patterns & Itinerary), By Region (North America, Asia Pacific, Europe, Latin America, Middle East & Africa); End-User Landscape, Company Market Share Analysis, and Competitor Analysis

Category Trending Technology

Format

This report was recently updated on November 14 2024 with the latest and most recent market numbers

AI in Hospitality Market Insights

The global AI in hospitality market will attain approximately 10% CAGR from 2021 to 2026, with the U.S. witnessing the maximum deployments. Changing HORECA industry dynamics along with the implementation of digital transformation tools in consumer-focused industries will support Artificial Intelligence in Hospitality Industry.

High technical adoption in the hotel industry owing to change in business operations impacted by the covid-19 pandemic will support the industry growth. Due to coronavirus, various industries opted for digital transformation tools to optimize and regularize their operations.

The Artificial Intelligence concept in HORECA was new and at its initial phase. But, to survive and stay profitable the industry opted for technological advancement which reduced their dependency on human interaction. The industry will continue to face this trend during the forecast period.

global ai in hospitality market

AI in Hospitality Market: By Technology

By technology, the report is segmented into Natural Language Processing, Machine Learning, Blockchain, Big Data, Chatbots or Travel Bots, and Virtual Assistants among others. Natural Language Processing and Virtual Assistants are major trending technologies in the industry. Better consumer interaction, advanced understanding, improved problem-solving skills, and enhanced user experience are the key features offered through these technologies.

Blockchain, machine learning, and big data are advanced technology in terms of providers' benefits related to decision making, data management, resource management, and asset management.

AI in Hospitality Market: By Type

Food & Beverage and Lodging-Accommodation among others are key types defined in the report. As of now, food & beverage is among the major category where the highest number of deployment is done. Improvised service solutions, better handling, and greater operational compatibility are prime factors to induce deployment in this category.

Lodging & Accommodation will foresee the fastest growth from 2021 to 2026. The segment’s growth is highly attributed to the increased preference for non-human interaction to minimize virus transmission rate will support the market expansion.

AI in Hospitality Market: By Application

By application, the report is divided into Customer Purchases, Travel Choices, Restaurants, Entertainment, and Journey Patterns & Itinerary among others. Rising consumer and provider inclination towards technologically advanced service solutions will drive the market growth. Preference to negate human interaction and maintain social distancing to avoid virus transmission is likely to promote the industry penetration in hotels and restaurants.

Improved analytics based on consumer behavior, patterns, and inputs are the additional benefits the industry can gain while using artificial intelligence in this industry. A more informed decision based on actual real-time data and analytics will result in optimum resource utilization and minimal wastage.

asia pacific ai in hospitality market

AI in Hospitality Market Market: By Region

North America is likely to dominate the total deployment of these technologies and is projected to hold more than 50% of the global size of the market. The presence of numerous providers accompanied by rapid digital transformation in consumer-centric industries has positively influenced regional growth. Artificial intelligence adoption to enhance the user interface and experience will support the market expansion.

Europe is expected to be the second-largest market in this industry. Technology advancement and the presence of a skilled workforce to adopt the new concept for various purposes will stimulate regional growth. Netherlands, Germany, France, and UK are the fastest adopting economies in this industry. The industry will also gain acceptance in this region on account of covid-19 prevention measures to reduce dependence on direct human interaction with customers.

The Asia Pacific region is among the most promising region in terms of product deployment and adoption in the coming years. Rapid technology advancement in China, India, Singapore, Japan, and South Korea to endorse digital transformation will support the market growth.

AI in Hospitality Company Market Share and Competitor Analysis

The global market share is in its initial expansion phase. As of now, only a limited number of companies are investing in this technology and advancement. Also, the lack of digital infrastructure among numerous small and medium-scale end-users may limit the market scope.

Technological advancement and solution customization to target more customers are the prime emphases among the leading solution providers. In addition, advanced learning programs in the hotel industry train the employees to engage and utilize advanced technical solutions.

IBM, KLM Airlines, Lola, Altexsoft, Hilton, Infosys, Cvent, Amadeus IT, Lemax, Sabre Corporation, Tramada System, mTrip, CRS Technologies, Qtech Software, and Navitaire are major providers in the industry.

Please note: This is not an exhaustive list of companies profiled in the report.

As of now, the penetration is high which will result in the entrance of new participants in the coming years. The adoption in developing economies is limited due to inadequate digital infrastructure. However, prompt digital transformation extension in developing nations supported by the government will open new avenues in the industry.

Chapter 1 Methodology

1.1 Market scope & definitions

1.2 Estimates & forecast calculation

1.3 Historical data overview and validation

1.4 Data sources

1.4.1 Secondary

1.4.2 Primary

Chapter 2 Report Outlook

2.1 AI in Hospitality industry overview, 2019-2026

2.1.1 Industry overview

2.1.2 Technology overview

2.1.3 Type overview

2.1.4 Application overview

2.1.5 Regional overview

Chapter 3 AI in Hospitality Market Trends

3.1 Market segmentation

3.2 Industry background, 2019-2026

3.3 Market key trends

3.3.1 Positive trends

3.3.2 Industry challenges

3.4 Prospective growth scenario

3.5 COVID-19 influence over industry growth

3.6 Porter’s analysis

3.7 PESTEL analysis

3.8 Value chain & supply chain analysis

3.9 Regulatory framework

3.9.1 North America

3.9.2 Europe

3.9.3 APAC

3.9.4 LATAM

3.9.5 MEA

3.10 Technology overview

3.11 Market share analysis, 2020

3.11.1 Company positioning overview, 2020

Chapter 4 AI in Hospitality Market, By Technology

4.1 Technology Outlook

4.2 Machine Learning

4.2.1 Market size, by region, 2019-2026 (USD Million)

4.3 Natural Language Processing

4.3.1 Market size, by region, 2019-2026 (USD Million)

4.4 Chatbots or Travel bots

4.4.1 Market size, by region, 2019-2026 (USD Million)

4.5 Blockchain

4.5.1 Market size, by region, 2019-2026 (USD Million)

4.6 Big Data

4.6.1 Market size, by region, 2019-2026 (USD Million)

4.7 Virtual Assistants

4.7.1 Market size, by region, 2019-2026 (USD Million)

4.8 Others

4.8.1 Market size, by region, 2019-2026 (USD Million)

Chapter 5 AI in Hospitality Market, By Type

5.1 Type Outlook

5.2 Food & Beverage

5.2.1 Market size, by region, 2019-2026 (USD Million)

5.3 Lodging-Accommodation

5.3.1 Market size, by region, 2019-2026 (USD Million)

5.4 Others

5.4.1 Market size, by region, 2019-2026 (USD Million)

Chapter 6 Virtual ICU Market, By Application

6.1 Application Outlook

6.2 Customer Purchases

6.2.1 Market size, by region, 2019-2026 (USD Million)

6.3 Travel Choices

6.3.1 Market size, by region, 2019-2026 (USD Million)

6.4 Restaurants

6.4.1 Market size, by region, 2019-2026 (USD Million)

6.5 Entertainment

6.5.1 Market size, by region, 2019-2026 (USD Million)

6.6 Journey Patterns & Itinerary

6.6.1 Market size, by region, 2019-2026 (USD Million)

6.7 Others (Hotel Rating Inquiries, Payment Methods, Smart Controls)

6.7.1 Market size, by region, 2019-2026 (USD Million)

Chapter 7 AI in Hospitality Market, By Region

7.1 Regional outlook

7.2 North America

7.2.1 Market size, By Country 2019-2026 (USD Million)

7.2.2 Market size, By Technology, 2019-2026 (USD Million)

7.2.3 Market size, By Type, 2019-2026 (USD Million)

7.2.4 Market size, By Application, 2019-2026 (USD Million)

7.2.5 U.S.

7.2.5.1 Market size, By Technology, 2019-2026 (USD Million)

7.2.5.2 Market size, By Type, 2019-2026 (USD Million)

7.2.5.3 Market size, By Application, 2019-2026 (USD Million)

7.2.6 Canada

7.2.6.1 Market size, By Technology, 2019-2026 (USD Million)

7.2.6.2 Market size, By Type, 2019-2026 (USD Million)

7.2.6.3 Market size, By Application, 2019-2026 (USD Million)

7.2.7 Mexico

7.2.7.1 Market size, By Technology, 2019-2026 (USD Million)

7.2.7.2 Market size, By Type, 2019-2026 (USD Million)

7.2.7.3 Market size, By Application, 2019-2026 (USD Million)

7.3 Europe

7.3.1 Market size, By Country 2019-2026 (USD Million)

7.3.2 Market size, By Technology, 2019-2026 (USD Million)

7.3.3 Market size, By Type, 2019-2026 (USD Million)

7.3.4 Market size, By Application, 2019-2026 (USD Million)

7.3.5 Germany

7.2.5.1 Market size, By Technology, 2019-2026 (USD Million)

7.2.5.2 Market size, By Type, 2019-2026 (USD Million)

7.2.5.3 Market size, By Application, 2019-2026 (USD Million)

7.3.6 Spain

7.3.6.1 Market size, By Technology, 2019-2026 (USD Million)

7.3.6.2 Market size, By Type, 2019-2026 (USD Million)

7.3.6.3 Market size, By Application, 2019-2026 (USD Million)

7.3.7 France

7.3.7.1 Market size, By Technology, 2019-2026 (USD Million)

7.3.7.2 Market size, By Type, 2019-2026 (USD Million)

7.3.7.3 Market size, By Application, 2019-2026 (USD Million)

7.3.8 Italy

7.3.8.1 Market size, By Technology, 2019-2026 (USD Million)

7.3.8.2 Market size, By Type, 2019-2026 (USD Million)

7.3.8.3 Market size, By Application, 2019-2026 (USD Million)

7.4 Asia Pacific

7.4.1 Market size, By Country 2019-2026 (USD Million)

7.4.2 Market size, By Technology, 2019-2026 (USD Million)

7.4.3 Market size, By Type, 2019-2026 (USD Million)

7.4.4 Market size, By Application, 2019-2026 (USD Million)

7.4.5 China

7.4.5.1 Market size, By Technology, 2019-2026 (USD Million)

7.4.5.2 Market size, By Type, 2019-2026 (USD Million)

7.4.5.3 Market size, By Application, 2019-2026 (USD Million)

7.4.6 India

7.4.6.1 Market size, By Technology, 2019-2026 (USD Million)

7.4.6.2 Market size, By Type, 2019-2026 (USD Million)

7.4.6.3 Market size, By Application, 2019-2026 (USD Million)

7.4.7 Malaysia

7.4.7.1 Market size, By Technology, 2019-2026 (USD Million)

7.4.7.2 Market size, By Type, 2019-2026 (USD Million)

7.4.7.3 Market size, By Application, 2019-2026 (USD Million)

7.4.8 Australia

7.4.8.1 Market size, By Technology, 2019-2026 (USD Million)

7.4.8.2 Market size, By Type, 2019-2026 (USD Million)

7.4.8.3 Market size, By Application, 2019-2026 (USD Million)

7.4.9 South Korea

7.4.9.1 Market size, By Technology, 2019-2026 (USD Million)

7.4.9.2 Market size, By Type, 2019-2026 (USD Million)

7.4.9.3 Market size, By Application, 2019-2026 (USD Million)

7.5 Central & South America

7.5.1 Market size, By Country 2019-2026 (USD Million)

7.5.2 Market size, By Technology, 2019-2026 (USD Million)

7.5.3 Market size, By Type, 2019-2026 (USD Million)

7.5.4 Market size, By Application, 2019-2026 (USD Million)

7.5.5 Brazil

7.5.5.1 Market size, By Technology, 2019-2026 (USD Million)

7.5.5.2 Market size, By Type, 2019-2026 (USD Million)

7.5.5.3 Market size, By Application, 2019-2026 (USD Million)

7.5.6 Argentina

7.5.6.1 Market size, By Technology, 2019-2026 (USD Million)

7.5.6.2 Market size, By Type, 2019-2026 (USD Million)

7.5.6.3 Market size, By Application, 2019-2026 (USD Million)

7.6 MEA

7.6.1 Market size, By Country 2019-2026 (USD Million)

7.6.2 Market size, By Technology, 2019-2026 (USD Million)

7.6.3 Market size, By Type, 2019-2026 (USD Million)

7.6.4 Market size, By Application, 2019-2026 (USD Million)

7.6.5 Saudi Arabia

7.6.5.1 Market size, By Technology, 2019-2026 (USD Million)

7.6.5.2 Market size, By Type, 2019-2026 (USD Million)

7.6.5.3 Market size, By Application, 2019-2026 (USD Million)

7.6.6 UAE

7.6.6.1 Market size, By Technology, 2019-2026 (USD Million)

7.6.6.2 Market size, By Type, 2019-2026 (USD Million)

7.6.6.3 Market size, By Application, 2019-2026 (USD Million)

7.6.7 South Africa

7.6.7.1 Market size, By Technology, 2019-2026 (USD Million)

7.6.7.2 Market size, By Type, 2019-2026 (USD Million)

7.6.7.3 Market size, By Application, 2019-2026 (USD Million)

Chapter 8 Company Landscape

8.1 Competitive analysis, 2020

8.2 IBM

8.2.1 Company overview

8.2.2 Financial analysis

8.2.3 Strategic positioning

8.2.4 Info graphic analysis

8.3 KLM Airlines

8.3.1 Company overview

8.3.2 Financial analysis

8.3.3 Strategic positioning

8.3.4 Info graphic analysis

8.4 Lola

8.4.1 Company overview

8.4.2 Financial analysis

8.4.3 Strategic positioning

8.4.4 Info graphic analysis

8.5 Altexsoft

8.5.1 Company overview

8.5.2 Financial analysis

8.5.3 Strategic positioning

8.5.4 Info graphic analysis

8.6 Hilton

8.6.1 Company overview

8.6.2 Financial analysis

8.6.3 Strategic positioning

8.6.4 Info graphic analysis

8.7 Infosys

8.7.1 Company overview

8.7.2 Financial analysis

8.7.3 Strategic positioning

8.7.4 Info graphic analysis

8.8 Cvent

8.8.1 Company overview

8.8.2 Financial analysis

8.8.3 Strategic positioning

8.8.4 Info graphic analysis

8.9 Amadeus IT

8.9.1 Company overview

8.9.2 Financial analysis

8.9.3 Strategic positioning

8.9.4 Info graphic analysis

8.10 Lemax

8.10.1 Company overview

8.10.2 Financial analysis

8.10.3 Strategic positioning

8.10.4 Info graphic analysis

8.11 Sabre Corporation

8.11.1 Company overview

8.11.2 Financial analysis

8.11.3 Strategic positioning

8.11.4 Info graphic analysis

8.12 Tramada Systems

8.12.1 Company overview

8.12.2 Financial analysis

8.12.3 Strategic positioning

8.12.4 Info graphic analysis

8.13 mTrip

8.13.1 Company overview

8.13.2 Financial analysis

8.13.3 Strategic positioning

8.13.4 Info graphic analysis

8.14 CRS Technologies

8.14.1 Company overview

8.14.2 Financial analysis

8.14.3 Strategic positioning

8.14.4 Info graphic analysis

8.15 Qtech Software

8.15.1 Company overview

8.15.2 Financial analysis

8.15.3 Strategic positioning

8.15.4 Info graphic analysis

8.16 Navitaire

8.16.1 Company overview

8.16.2 Financial analysis

8.16.3 Strategic positioning

8.16.4 Info graphic analysis

The Global AI in Hospitality Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the AI in Hospitality Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global AI in hospitality market?

The global AI in hospitality market will attain approximately 10% CAGR from 2021 to 2026, with the U.S. witnessing the maximum deployments.

Who are the major vendors in the AI in hospitality market?

Major industry participants include IBM, KLM Airlines, Lola, Altexsoft, Hilton, Infosys, Cvent, Amadeus IT, Lemax, Sabre Corporation, Tramada System, mTrip, CRS Technologies, Qtech Software, and Navitaire.

Which region has the highest market share in the AI in hospitality market?

North America is likely to dominate the total deployment of these technologies and is projected to hold more than 50% of the global size of the market.

What is the Covid-19 impact on future AI in hospitality providers?

What are the major drivers in the AI in hospitality market?

Changing HORECA industry dynamics along with the implementation of digital transformation tools in consumer-focused industries will support artificial intelligence in hospitality industry.