How large is the artificial intelligence (ai) in travel market, and what is its growth trajectory?
The artificial intelligence (AI) in travel market size has grown exponentially in recent years. It will grow from $123.72 $ billion in 2024 to $165.93 $ billion in 2025 at a compound annual growth rate (CAGR) of 34.1%. The growth in the historic period can be attributed to rise of digital transformation, increase in demand for personalized travel experiences, increase need for enhanced operational efficiency, growth in emphasis on security and safety, rise in proliferation of mobile and wearable technology, and increase in push for automation in customer service.
The artificial intelligence (AI) in travel market size is expected to see exponential growth in the next few years. It will grow to $531.95 $ billion in 2029 at a compound annual growth rate (CAGR) of 33.8%. The growth in the forecast period can be attributed to increasing demand for personalized travel experiences, rising adoption of contactless technologies, growing need for enhanced security and safety protocols, expansion of smart infrastructure in travel hubs, and rising proliferation of AI-driven analytics for operational efficiency. Major trends in the forecast period include adoption of AI-driven personalization, adoption of autonomous vehicles and AI-powered robots, adoption of AI-powered chatbots and virtual assistants, adoption of AI-powered predictive analytics, and advancements in contactless technologies.
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What are the key forces behind the artificial intelligence (ai) in travel market’s growth in recent years?
The rise in global tourism is expected to propel the growth of the artificial intelligence (AI) in travel market going forward. Global tourism involves people traveling internationally for leisure, business, or other reasons, fostering cultural exchange, economic development, and worldwide connections. The surge in global tourism is driven by higher disposable incomes, easier access to international travel, a greater desire to explore different destinations, and advancements in travel technology. AI in travel enhances tourism by providing personalized recommendations, automating bookings, and optimizing customer service, which improves overall traveler experiences and operational efficiency. For instance, in 2024, according to the World Travel and Tourism Council, a UK-based travel company, in 2023, the travel and tourism sector accounted for 9.1% of the global GDP, marking a 23.2% rise compared to 2022. Therefore, the rise in global tourism drives the artificial intelligence (AI) in travel market.
What are the major segments of the artificial intelligence (ai) in travel market?
The artificial intelligence (AI) in travel market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment mode: On-Premises, Cloud-Based
3) By Application: Customer Service, Booking And Reservations, Travel Planning And Personalization, marketing And Advertising, Operations Management, Security And Fraud Detection
Subsegments:
1) By Software: AI-powered Travel Booking Platforms, Chatbots and Virtual Assistants, Personalization and Recommendation Engines, Revenue Management Software, Customer Relationship Management (CRM) Tools
2) By Services: Consulting Services, Implementation and Integration Services, Data Analytics and Insights Services, Training and Support Services, Digital marketing Services
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Which companies dominate the artificial intelligence (ai) in travel market?
Major companies operating in the artificial intelligence (AI) in travel market are International Business Machines Corporation, Expedia Group Inc., Priceline.com, Booking.com B.V., Airbnb Inc., Sabre Corporation, TripAdvisor Inc., Agoda Company Pte. Ltd., SAP Concur, Travelport Worldwide Ltd., Hotelbeds Group, Skyscanner Ltd., Trivago N.V., MakeMyTrip Limited, Fareportal, Kayak Software Corporation, Despegar.com Inc., Cendyn Group LLC, Hopper, Cleartrip Private Limited, Sojern Inc., OTA Insight Ltd., Adara Inc., Viator Inc., Duetto
What major trends will shape the artificial intelligence (ai) in travel market during the forecast period?
Major companies operating in the artificial intelligence (AI) in travel market are focusing on technological development such as integrating artificial intelligence in personalized travel to enhance customer experiences by delivering tailored recommendations, optimizing travel itineraries, and providing real-time assistance. AI in personalized travel customizes travel experiences by leveraging technology to analyze user data and preferences, providing tailored suggestions for destinations, accommodations, and activities based on individual needs and past behaviors. For instance, in May 2024, Expedia Group Inc., a US-based travel technology company, launched an AI-powered assistant called Romie. Romie is an AI travel assistant who is a personal travel agent, aiding in planning, booking, and handling last-minute travel changes. It learns the user’s preferences over time to offer personalized recommendations and features for group chat planning, smart search, and itinerary building.
What are the key regional dynamics of the artificial intelligence (ai) in travel market, and which region leads in market share?
North America was the largest region in the artificial intelligence (AI) in travel market in 2024. The regions covered in the artificial intelligence (AI) in travel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Artificial Intelligence (AI) In Travel Market Report 2025 Offer?
The artificial intelligence (ai) in travel market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Artificial Intelligence (AI) in travel refers to the use of artificial intelligence technologies to enhance and personalize the travel experience, including tasks such as booking, customer service, and itinerary planning. AI in travel helps with personalized recommendations, customer service, dynamic pricing, predicting travel trends, language translation, facial recognition, and managing itineraries.
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