Internet of Things (IoT) in Travel and Tourism - Thematic Intelligence

Internet of Things (IoT) in Travel and Tourism - Thematic Intelligence

Summary

The Internet of Things, or IoT, describes the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. According to GlobalData forecasts, enterprise spending on IoT across the travel and leisure sector is set to experience steady growth over the next few years. The total is set to reach $28 billion by 2027, up from $10 billion in 2019. Within the overall travel and leisure market, IoT software will dominate over the coming years. GlobalData expects the IoT software market in travel and leisure to expand at a CAGR of 17% between 2022 and 2027 to $11 billion.

The COVID-19 pandemic brought key IoT use cases to the attention of the travel and tourism industry. Airports, for example, used connected thermal cameras to detect potential COVID-19 infections or deployed sensors to monitor and cap occupancy in communal spaces on-site. In this way, the pandemic increased the adoption of IoT, contributed to a positive attitude toward the technology, and catalyzed safety-enhancing innovations for both consumers and employees. And now, in the post-pandemic world, further IoT use cases continue to emerge that will enhance operational efficiency, reduce costs, improve decision-making, and improve customer experience across the sector.

Key Highlights

IoT is essential to digitalization in travel and tourism. Airlines, for example, can deploy the predictive maintenance capabilities of IoT systems to reduce the cost and downtime of aircraft repairs. This is just one of the many transformative use cases of IoT with this emerging technology ready to be employed across the travel and tourism value chain, for example, to manage crowds at popular attraction sites, personalize hotel stays, simplify airport navigation, and much more.

IoT can also assist in travel and tourism companies addressing ESG challenges. In the last decade, COVID-19 appeared as the top existential threat to the travel and tourism industry, but as companies recover, the challenge of ESG has returned to center stage. IoT can address ESG concerns in a host of ways from sensor-enabled smart lighting and thermostats that monitor and adjust the environment of lodgings to improve energy efficiency to IoT-enabled smart buildings that integrate energy-efficient technology throughout cities.

Who should buy?

CEOs, CIOs, Senior Executives, Marketing Executives, and other professionals within the travel and tourism industry seeking to understand the importance of IoT.

Scope

• This thematic report provides an overview of the impact IoT has on the travel and tourism sector and the challenges it can help to address. The report further recommends how travel and tourism companies can deploy IoT solutions and where they should invest to stay ahead of this disruptive technology.
• Several case studies are included in this report to analyze the multiple ways travel and tourism companies have used IoT thus far. The report also features alternative datasets to highlight the impact of IoT.

Reasons to Buy

• Understand the current IoT trends within the travel and tourism industry and the role IoT solution could play in the daily operations of your business.
• Assess how travel and tourism companies such airlines, cruise operators, and lodging providers, for example, are utilizing IoT.
• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
• All across the travel and tourism supply chain, now have an opportunity to capitalize on IoT, and there are notable examples of this. Therefore, all should buy this report to fully understand how this theme will continue to be impactful in the future travel landscape.