Scope of the Study
The global digital outsourcing opportunity for service providers in the Travel & Hospitality industry will be set at USD 1.6 billion in 2018 and is expected to grow to USD 4 billion at 20% CAGR by 2022. The industry continues to see large investments in connected travel experiences for customers through initiatives such as new-age design and data-driven personalization supported by AI and ML. Large global travel and hotel companies are building multi-faceted partner ecosystems to offer, design, and offer wonderful experiences to their customers. Digital spending in the hospitality industry includes spending by businesses to improve user experience. Digitization is achieved through various channels such as the web, social media, digital marketing, gamification, and mobility. The introduction of various technological solutions helps to improve the digital experience of the user according to expectations and requirements. Digital editions in the hotel industry play a crucial role in retaining old customers and attracting new customers in order to expand the customer base in the hotel industry. Digital spending in the hospitality industry spans different phases of the customer lifecycle, from awareness-raising, engagement, purchase, and relationship to support services. These phases require different solutions, depending on the requirements of this particular phase and specific to the hotel industry.
The market study is being classified, by Application (Small & Medium Enterprises and Large Enterprises) and major geographies with country level break-up.
Accenture PLC (Ireland), Capgemini (France), IBM Corporation (United States), Tata Consultancy Services Ltd. (India), Zendesk, Inc. (United States), Cognizant (United States) and SAS Institute Inc. (United States) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Digital Spending in Hospitality market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Digital Spending in Hospitality market by Type, Application and Region.
On the basis of geography, the market of Digital Spending in Hospitality 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Need for Consistent Customer Experience
- Rising Digital Awareness and High Spending On the Luxury Products
- Increasing Participation of People in Social Media Globally
- The Trend of Using Cloud-Based Software Is Popular and Preferred Mostly
- Rapid Response to Queries and Faster Support Facilities Demanded By Customers
- Data Security and Privacy Issues
- A Rise in Implementation of Omni-Channel Approach
- Advancements in Technology
- Adoption of Various Technological Solutions in Enhancing the Userís Digital Experience
- Lack of Network Connectivity
Key Target AudienceProviders of Digital Spending in Hospitality, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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