The AI in Hospitality Market was expected to be worth USD 90 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 60% to reach a value of USD 8,120 million by 2033. The use of artificial intelligence (AI) technology in a variety of hotel and hospitality-related contexts is referred to as "AI in hotel and hospitality."

Additionally, AI is expediting the check-in and check-out procedures. Refined lodging establishments are introducing contactless technologies that let visitors utilize their cellphones for anything from purchasing room service to opening their rooms. Even frictionless access is being implemented with facial recognition technologies and exit, enhancing security and convenience.AI chatbots can converse with visitors in a conversational fashion by utilizing machine learning and natural language processing. This ensures a high degree of comfort and service and drives the expansion of AI in the hotel industry.

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The need to maximize revenue in a market that is becoming more and more competitive is one of the main factors driving this demand. With dynamic pricing, hotels can instantly modify room rates in response to shifting market conditions. For example, hotels may boost their rates at peak demand times, such holidays, or important events, to capitalize on the increased willingness of passengers to pay more for lodging. On the other hand, dynamic pricing enables hotels to provide affordable rates during periods of low demand to draw in budget-conscious visitors.

 

AI In Hospitality Market Competitive Outlook

IBM Corporation, Microsoft Corporation, Amazon Web Services, Inc., Oracle Corporation, Google LLC, Intel Corporation, NVIDIA Corporation, Alibaba Group Holding Limited, Cisco Systems, Inc., HCL Technologies Limited, Amadeus IT Group SA, Infor, Inc., Salesforce.com, Inc., Huawei Technologies Co., Ltd., NEC Corporation.

AI In Hospitality Market Segmental Analysis 

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

By Hotel Type

Luxury Hotels and Resorts

Mid-scale and Budget Hotels

Boutique and Independent Hotels

Chain and Group Hotels

By Hotel Size

Small and Medium-sized Hotels

Large Hotels and Hotel Chains

 

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By Application    

Guest Experience Enhancement

Operational Efficiency

Revenue Management

Safety and Security

Sustainability and Energy Management

By Services

Front-End Services

Back-End Services

Security and Safety Services

 

Frequently Asked Questions

1.       Which region dominates the AI in hospitality market?

2.       What is PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?

3.       What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?

4.       What is the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?

5.       What is the market size of AI in hospitality market in 2022?

6.       Which are the top companies operating within the market?

7.       What are the key technologies within the market?

 

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