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.
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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.
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 :
By application, the global SMART Tourism Market is also classified into :
- Translation Services
- Direction Guidance
- Audio Guidance
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).
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Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
- Booking Holdings
- Sabre Corporation
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.
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.
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
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