Global Internet Of Things In Tourism Market Overview:
The tourism industry is often considered as a slower adopter of technology, but still, continuous advancement in the latest innovations and development in Information and Communication Technologies (ICT) has driven the Global IoT in the tourism market. The use of technology in the tourism sector has helped both the tourist as well as the tourism industry. The tourism industry is using ICT to obtain information on nearly all tourism transactions, market structure, customer needs etc. in one single electronic platform. C-suite is marking up investments for Mobility and IoT systems which is directly impacting cost efficiencies and streamlining operations. Very little research has been done since this market is still an upcoming sector. IoT is enabling new methods for guests to keep tabs on security line wait using RFID (Radio Frequency Identification Technology). However, Beacons will play an important role in transmitting relevant, targeted information or to broadcast useful information to Smartphones. These are being used at airports to figure out how long itís going to get through security lines. Some of the key players profiled in the study are Tata Consultancy Services (India), Fast stream Tech. (United States), Plintron Mobility Solutions (United States), Orange S.A. (France) and NTT Data (Japan).
On the basis of geography, the market of Internet Of Things In Tourism 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). North America region held largest market share in the year 2018. If we see Market by Technology, the sub-segment i.e. WiFi sensors will boost the Internet Of Things In Tourism market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Tremendous Growth in Social Media
- Increasing Economy and Living Standards of Consumers
- Improving Infrastructure in Emerging Economies.
- Tourism Companies Have Invested Heavily in Technologies like IoT during Internet Escalation
- Travel Arrangements are Discussed Online in the Form of Rating, Blogs, Likes and Dislike In the Social Network
- Lack of Fully Defined Standards of IoT in the Tourism Industry
- Security Issues and Privacy Concerns over Data
- Few Researchers Have Worked in this Market, Hence Making It Mandatory To Unfold Its Full Potential In The Tourism Domain Which In Turns Provides an Opportunity For the Key Manufacturers Of This Market
- Managing Tourist Destinations as It Involves Factors like Culture, Branding, and Communication
- Huge Investment on IoT Security like Technology
February 2019, Orange and NTT signed a Strategic Research and Development (R&D) framework agreement lasting until 2022 to mutualize research findings in several key domains. These include 5G, network transformation, Artificial Intelligence (AI), Internet of Things (IoT), cybersecurity, cloud services, smart cities, sports, tourism, and culture.
The market is concentrated with very few key players who are involved in a fierce competition within the tourism industry. The stakeholders are taking innovative steps towards enhancing their competitive advantage over equal and efficient rivals.
Target Audience:IOT Security Provider, Software Developers, Industry Associations and Experts, Private Research Organizations and Consulting Companies, Industry Associations, Government Market Research and Consulting Firm, Stakeholders and IT manufacturers
Major Objectives Focused through this Study To define, describe, and forecast the Global Internet Of Things In Tourism market on the basis of product [Pressure sensors, Temperature sensors, Light sensors, Chemical sensors, Motion sensors and Others] , application [RFID (Radio Frequency Automation Identification), WSN (Wireless Communication based on Information Sensation), Intelligent Chip, Wireless Communication Technology (WCT), Electronic Product Code (EPC) and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Internet Of Things In Tourism market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Internet Of Things In Tourism industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Internet Of Things In Tourism market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.