Innovation in Tourism – Report Bundle (6 Reports)
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Innovation in Tourism Market Bundle Report Overview
‘Technological innovations have changed the way we travel, and these new developments promise an even more interactive and exciting experience. The advent of social media, IoT, AR and VR, among others play a crucial role in the way we travel. With the introduction of 5G, internet speed has become faster with wider coverage and more stable connections. From online reservations to customized experiences, 5G has increased accuracy and reduced complexity and latency. That means the connectivity between smart devices will be more efficient, providing an immersive and uninterrupted travel experience for tourists.’
As a part of this bundle, you will gain access to in-depth insights available in the following reports:
- Thematic Research: Social Media in Travel & Tourism
- Thematic Research: Internet of Things in Travel & Tourism
- Thematic Research: 5G in Travel & Tourism
- Thematic Research: Online Travel
- Thematic Research: Smart Cities in Travel & Tourism
- Thematic Research: Cybersecurity in Travel & Tourism
Report 1: Thematic Research: Social Media in Travel & Tourism
The use of content-sharing platforms such as Instagram and Pinterest has evolved the sphere of travel experience. With changes to consumer behavior, travelers are now using these websites as search engines as a way of finding inspiration for their next trip. Research has shown that the searches conducted by social media users have helped predict future travel trends such as vacations, camping trips, and rural tourism. As the pandemic begins to ease and travel restrictions are gradually lifted worldwide, organizations can use social media analytics to understand the different types of attractions, destinations, and activities that are trending. Instagram, a key player in marketing travel companies as well as content creators, has taken advertisement content to a new high. The photo-sharing platform enables companies to engage and target specific customers base through different online communities. Its hashtag feature has become increasingly crucial for businesses generating social media content.
Social Media Business Model
Report 2: Thematic Research: Internet of Things in Travel & Tourism
IoT creates a wealth of data from tourism companies, which in turn allows them to create highly personalized services for customers. IoT in travel and tourism can create customized experiences by enabling travelers to control more appliances or services through a centralized device. Companies as well can gather data from IoT-enabled devices to create targeted personalized marketing campaigns for return visits. IoT will have a positive impact on the recovery of specific tourism industries, such as lodging. Smart locks, smart lights, smart TVs, and smart air conditioners, among other devices, can be controlled from the guest’s phone, which decreases the chance of disease transmission. Companies such as Hilton have created their own ‘Connected Room’ technology, that allows guests to use the Hilton Honors app to manage most things they would traditionally have to do manually in a guest room.
Key Enabling Technologies for IoT
Report 3: Thematic Research: 5G in Travel & Tourism
2020 saw a growing number of 5G commercial launches worldwide, with more than 400 million 5G subscriptions active by the end of the year. COVID-19 has had some impact on infrastructure rollouts and, more crucially, on spectrum auctions in several markets. Despite this, growth will accelerate in the coming years, and the availability of affordable handsets will be key to driving adoption. The latest 5G standards brought new capabilities to help operators develop new applications and services. This covers those that rely on extremely low latency and higher performance. From enabling the installation of more IoT sensors to improve the efficiency of public transport to enhancing the usage of robotics at airports to undertake multiple tasks simultaneously, 5G is set to help optimize the relationship between tourism and technology. With the realization that 5G can create cost savings for companies, whilst also improving experiences, partnerships between tourism companies, organizations, and telecommunications companies have grown in frequency.
Report 4: Thematic Research: Online Travel
Globally, traffic in online travel has increased and travelers are becoming more mobile-savvy than ever before. Alongside this, the market value of online travel intermediaries (OTAs, tour operators, and other providers) has experienced rapid growth. In 2019, the global market value reached $592.5 billion, a 2.3% increase from the previous year. However, companies within the travel industry have faced, and continue to face, unprecedented challenges and uncertainty due to the COVID-19 pandemic. But with significant investments in augmented (AR) and virtual reality (VR) by large technology companies such as Google and Apple, the potential to transform the tourism landscape has certainly gained a boost. As COVID-19 brought domestic and international travel to a virtual standstill, AR and VR offered travel seekers the chance to experience destinations from the safety and comfort of their own homes, ranging from snorkeling in the Maldives to wild safaris in Kenya.
Report 5: Thematic Research: Smart Cities in Travel & Tourism
Mass tourism in cities will spur the need for smart solutions to relieve pressure on resources and infrastructure. An intelligent crowd management system is a great way that smart city tourism capitalizes on IoT to streamline the services provided. Destinations such as Florence are now using smart city solutions to minimize the impact of ‘overtourism’. The ‘Feel Florence’ app suggests routes and experiences to visitors while detecting tourist flows in real-time. Smart tourism destinations utilize the technological ecosystems of smart cities to create value and enhance experiences for tourists. Through mass data collection, storage, exchange, and processing via advanced forms of technology, a smart destination can create in-depth tourism strategies. A smart tourism destination helps to improve travel and tourism’s contribution to metropolitan economies. It also aims to ensure that the quality of life for locals is impacted positively by tourism, which can be achieved by minimizing impacts related to overcrowding.
Report 6: Thematic Research: Cybersecurity in Travel & Tourism
The travel and tourism industry is highly exposed to attacks due to the wealth of personal data it stores. The lodging sector is the third most targeted by hackers, according to the Trustwave 2020 Global Security report. Worth $1.4 billion in 2021, cybersecurity revenues in the travel and tourism sector are forecasted to reach $2.1 billion by 2025. Several high-profile companies within the sector have made negative headlines due to poor cybersecurity infrastructure. Cybercriminals exploit the vulnerabilities within a cybersecurity strategy, so a rigorous approach is central to necessitating effective risk management. As the travel and tourism sector is becoming increasingly digitalized, the digital ecosystems of companies become more vulnerable to cyberattacks. The industry is fragmented, with direct suppliers sharing data with third-party intermediaries, increasing the number of potential entry points for attackers to exploit. Collaboration is vital as data remains most secure when all companies across the travel and tourism value chain work together proactively.
Thematic Research: Social Media in Travel & Tourism (2021)
Thematic Research: Internet of Things in Travel & Tourism (2021)
Thematic Research: 5G in Travel & Tourism
Thematic Research: Online Travel (2022)
Thematic Research: Smart Cities in Travel & Tourism (2022)
Thematic Research: Cybersecurity in Travel & Tourism (2022)
Table of Contents
Frequently asked questions
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Thematic Research: Social Media in Travel & Tourism (2021)
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What has research shown regarding the searches conducted by social media users?
Research has shown that the searches conducted by social media users have helped predict future travel trends such as vacations, camping trips, and rural tourism.
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Thematic Research: Internet of Things in Travel & Tourism (2021)
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Why IoT leverages data from tourism companies?
IoT’s use of data from tourism companies helps in creating highly personalized services for customers.
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Thematic Research: 5G in Travel & Tourism
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What was the global 5G subscription market size in 2020?
The world witnessed more than 400 million 5G subscriptions in 2020.
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Thematic Research: Online Travel (2022)
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How have AR and VR changed online travel?
AR and VR offered travel seekers the chance to experience destinations from the safety and comfort of their own homes, ranging from snorkeling in the Maldives to wild safaris in Kenya.
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Thematic Research: Smart Cities in Travel & Tourism (2022)
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Why intelligent crowd management system is beneficial for smart city tourism?
An intelligent crowd management system is a great way in which smart city tourism capitalizes on IoT to streamline services provided and to minimize the impact of ‘overtourism’.
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Thematic Research: Cybersecurity in Travel & Tourism (2022)
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What was the cybersecurity revenue value in the travel and tourism industry in 2021?
The cybersecurity revenues in the travel and tourism industry reached $1.4 billion in 2021.
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