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

According to the publisher's Q1 2021 Consumer Survey, 85% of consumers were still either ‘extremely’, ‘quite’ or ‘slightly’ concerned about their health due to the pandemic. Internet of Things (IoT) technology can help to ease traveler concerns regarding wellbeing. For example, wearable tech devices at airports and other transport terminals can allow travelers to practice correct social distancing and keep to other health and safety compliance parameters, which stems the spread of the virus and keeps travelers safe. Companies that are leading adopters of IoT may benefit from a quicker recovery as the world adapts to the ‘new normal’, such as Hilton. Hilton’s ‘Connected Room’ technology allows guests to use the Hilton Honors app to manage most things they would traditionally have to do manually in a guest room. From controlling the temperature and lighting to the TV and window coverings, the IoT technology allows guests to reduce the number of times they have to touch surfaces that may be contaminated.

This thematic research report takes an in-depth look at the usage of IoT in travel and tourism. Firstly, the players section outlines some of the big tech players within the IoT theme, classified by value chain segment. After a technology briefing, a trends section is then provided, describing technology, macroeconomic, regulatory and enterprise trends relating to the IoT. An industry and tourism specific analysis is then provided with a mergers and acquisitions section, which also includes travel and tourism IoT partnerships. After a timeline which tells the story of the development of IoT, an in-depth analysis of the IoT value chain is provided. Finally, the leading companies in the IoT theme are outlined along with their competitive position and sector scorecards are delivered, showing how the different companies in each industry compare in the theme of IoT.

“IoT technology will continue to grow in importance for the lodging industry, and especially for hotels and resorts, which are currently responsible for 20% IoT-related patent publications.”

Key Highlights

• IoT is the key technological point for the development of smart cities. By using this technology to gather urban data and improve performance and management, city destinations can rapidly improve performance in relation to sustainability. Examples related to tourism include smart solutions for parking and highway speed controls, which reduces pollution. In terms of social impacts, IoT can reduce overcrowding within cities through the redirection of tourist flows, this can be done through reactive digital signage. This can reduce annoyance amongst the host community within a destination and create a more harmonious relationship between locals and tourists.
• IoT in travel and tourism can create personalized experiences in two main ways: by enabling travelers to control more appliances or services through a centralized device, such as a tablet or mobile application; or by companies storing data gathered from IoT enabled devices to create targeted personalized marketing campaigns or by remembering their preferences for return visits. For example, a traveler may return to the same hotel every winter. Because the hotel company uses a smart thermostat, it could set the heating to the customer’s preferred temperature when they return, which it remembered from last year. This kind of small, personalized service could go a long way for many customers, especially in the luxury market where attention to small details is greater than in the midscale or budget segments.
• IoT can also elevate passenger experiences. For example, services can be priced differently for different travelers as per the frequency of their traveling, helping to create loyalty schemes. Rail operators can benefit greatly from passenger loyalty using IoT systems to understand customer experience history and make improvements for a more comfortable and convenient journey in the future.

Scope

• This report provides an overview of IoT uses in travel and tourism.
• It identifies the need for IoT to optimize the relationship between technology and travel and tourism.
• This report provides a detailed industry analysis of IoT in Travel & Tourism, discussing how it is being utilized in a range of different ways.
• We highlight travel and tourism companies that are leading in the IoT theme, such as Hilton Hotels & Resorts, Walt Disney, and Royal Schiphol Group.

Reasons to Buy

• Understand the impact of IoT on the tourism industry, using use cases to help you understand how you can adapt and understand this theme.
• Assess the strategies that companies are adopting when using IoT.
• Discover companies that are leading in the space.
• To view real-world trends created by the adoption of IoT from across the travel & tourism space.
• The publisher’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.