Report Description
A recent market
intelligence report that is published by Data Insights Partner on the global SMART
Tourism Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international SMART Tourism Market. The
research also emphasizes on the impact of restraints, drivers, and macro
indicators on the regional and global SMART Tourism Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global SMART Tourism Market is offered. In accordance with the
report, the global SMART Tourism Market is projected to expand at a CAGR of xxx%
over the period of forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
Every industry has paved the way for e-revolution, after
the introduction of internet. Also, with the increase in number of SMART phones
users, mobile technologies have become the most essential tools for travelers. This
combination of SMART phones and Internet has together given rise to the SMART
Tourism market, thereby bringing about major changes in the hospitality and travel
industry. Tourists can now experience a
city in an ‘enhanced’ way, covering everything from augmented reality, city
guides, real time responses to flight delays and traffic.
With enhanced mobile features, and inexpensive
connectivity, SMART Tourism has gained major popularity amongst all the
sections of society. Various websites and mobile applications software include
features like SMART Navigation, translations, SMART Communication, Maps, Data
& Analytics etc. With SMART tourism,
tourists benefit due to the convenience, reduction in expenses and the
destination also benefits by economic rewards, potential FDI, preservation of
cultural heritage etc. SMART Tourism will also have a big impact on SMART
cities, thereby shaping its future that will benefit both tourism and city
development.
However, the major challenge faced by SMART Tourism is
lack of implementation of new technologies and keeping updates about the recent
happenings in all travel destinations. Travel Companies will have to offer
value added services in order to differentiate themselves against the
competitors. Complete dependence on smart device and the technical issues faced
due to lack of knowledge and infrastructure can also pose as a threat to the
growth of this market. For e.g. certain SMART Tourism websites do not load in
different browsers and various apps that are not compatible for certain
smartphones.
The biggest
opportunities for the global SMART tourism to grow is the introduction of
Internet Of Things (IoT), which will further enhance to bring about a major
change to the tourism environment.
However, with the sudden attack of Covid-19, travel and
tourism has been impacted like no other event in the past. Most of the
destinations have imposed strict lockdowns and restrictions on travel.
According to one report, 90 destinations have completely or partially closed
their borders to tourists. With travel
and tourism suspended, millions of jobs could be in threat and experience major
economic downturn even after containment of Covid 19. It could take up to 10
months for the industry to recover from its losses, once the outbreak is
over. According to The World Travel and
Tourism Council (WTTC), “the equivalent to a loss of three months of global
travel in 2020 could lead to a corresponding reduction in jobs of between 12%
to 14% and has called on the Government to remove or simplify visa process
wherever possible, cut travel taxes and introduce incentives once the epidemic
is under control.
Segment Covered:
This market
intelligence report on the global SMART Tourism Market encompasses market
segments based on product type, application and country/regions.
In terms of type, the global SMART Tourism Market is segregated into :
§ Online
§ Offline
By application, the global SMART Tourism Market is also classified into :
§ Reservations
§ Translation Services
§ Direction Guidance
§ Audio Guidance
§ Others
By country/region, the global SMART Tourism Market has been divided into :
§ North America (the U.S., Canada),
§ Latin America (Brazil, Mexico, Argentina and other
countries),
§ Europe (Germany, France, the U.K., Spain, Italy, Russia,
and other countries),
§ Asia Pacific (India, Japan, China, Australia and New
Zealand and other countries),
§ Middle East and Africa (GCC, South Africa, Israel and
Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as
§ Booking Holdings
§ TripAdvisor
§ Expedia
§ HomeAway
§ Kayak
§ QUNR
§ Ctrip
§ Orbitz
§ MakeMyTrip
§ TravelZoo
§ Sabre Corporation
§ Opodo
§ Travelgenio
§ Voyages
§ Webjet
§ Wotif.com
Others players have
been profiled into detail so as to offer a glimpse of the market leaders.
Moreover, parameters such as SMART Tourism related
investment & spending and developments by major players of the market are
tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the SMART Tourism Market, size of the market (US$ Mn), and Compound Annual Growth
Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account
2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, launch of new products, competitive market strategies of
leading market players, emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world SMART Tourism Market is done by taking into account various parameters such as
company strategies, distribution strategies, product portfolio, financial
performance, key developments, geographical presence, and company overview
Ø
Leading
market players covered this report comprise names such as TripAdvisor, Expedia,
HomeAway, Kayak, MakeMyTrip, TravelZoo and many more.
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of products, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for SMART Tourism Market caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for SMART Tourism Market. The research also caters to the rising needs of consulting
and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the
investment opportunities in the SMART Tourism Market
v
Identification
of key factors driving investment opportunities in the SMART Tourism Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to your
competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants