Strategy Briefing

The Travel Industry in the Data Economy

35 pages, Jun 2016

US$1,325

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About This Report

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Today the importance of technological innovation in the travel industry is such that travel companies need to place it at the core of their business models in order not to depend overly on technology companies and not to be commoditised. In particular, technological changes are disrupting travellers’ consumer behaviour, with travel companies required to provide personalised travel experiences and mobile assistance to meet the expectations of the consumers of the data economy.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Technology constantly disrupting travel

Technological innovation is constantly disrupting the travel industry changing travel consumer behaviour and forcing companies to change their business models.

The rise of big data and artificial intelligence

After the rise of the online and then mobile channels, it is now the turn of big data analytics and artificial intelligence to have a deep impact on consumers and the competitive environment in the travel industry.

Personalisation of bookings and the travel experience

The analysis of data on travel consumers’ preferences allows companies to offer them a higher level of personalisation during the booking process and the trip itself, increasing conversions and enhancing the travel experience.

“Chatbots” to offer bookings and assistance

Over the next few years, travellers will increasingly interact with artificial intelligence agents, in the form of “chatbots” and virtual assistants, to seek assistance and make bookings.

Tech players challenge travel intermediaries

The growing role of technology also means a more important role for technology players in travel, with companies such as Google, TripAdvisor and Facebook increasingly allowing travellers to complete bookings on their sites and following them during their trips, providing information and assistance.

Steady rise of the mobile channel

The steady rise in popularity of mobile devices is having a strong impact in terms of both travel bookings and travel consumer behaviour. Apps and messaging services are expected to generate an increasing number of travel reservations.

From travel services to travel experiences

As a result of the mobile, peer-to-peer and personalisation trends, travel consumers are today increasingly shifting from requiring services to experiences.

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Introduction

Scope

Key findings

Market Background

Half of the world population to use the internet by 2020

Asia Pacific accounts for half global internet users in 2015

Mobile web access booming worldwide

Asia Pacific leads mobile broadband subscriptions

Android operating system holds strong leadership in smartphones

Facebook most popular social medium globally

Whatsapp leads the rise of messaging apps

Rapid growth in big data technology expenditure

The Advent of Artificial Intelligence

Technology at the core of the travel industry

Data-driven vs human decisions

The rise of artificial intelligence in travel

Personalisation powered by big data analytics

Chatbots and virtual assistants: Powerful tools for travellers

New business models in the data economy

Competition Between Tech and Travel Players

Constant need of self-disruption for travel companies

Blurring boundaries between travel and tech players

Competition between OTAs and tech players heats up

The Mobile Disruptor

Mobile channel key disruptor in travel

Mobile web versus apps

Facebook: From consumer engagement to mobile sales

Messaging, from communication to booking tool

From Travel Services to Travel Experiences

Peer-to-peer services challenge corporations

From travel transactions to end-to-end travel experiences

A lifestyle brand positioning for Lastminute.com

A personalised travel experience

Definitions

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Megatrends

Strategy Briefing

The Travel Industry in the Data Economy

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Technology constantly disrupting travel

The rise of big data and artificial intelligence

Personalisation of bookings and the travel experience

“Chatbots” to offer bookings and assistance

Tech players challenge travel intermediaries

Steady rise of the mobile channel

From travel services to travel experiences

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Market Background

Half of the world population to use the internet by 2020

Asia Pacific accounts for half global internet users in 2015

Mobile web access booming worldwide

Asia Pacific leads mobile broadband subscriptions

Android operating system holds strong leadership in smartphones

Facebook most popular social medium globally

Whatsapp leads the rise of messaging apps

Rapid growth in big data technology expenditure

The Advent of Artificial Intelligence

Technology at the core of the travel industry

Data-driven vs human decisions

The rise of artificial intelligence in travel

Personalisation powered by big data analytics

Chatbots and virtual assistants: Powerful tools for travellers

New business models in the data economy

Competition Between Tech and Travel Players

Constant need of self-disruption for travel companies

Blurring boundaries between travel and tech players

Competition between OTAs and tech players heats up

The Mobile Disruptor

Mobile channel key disruptor in travel

Mobile web versus apps

Facebook: From consumer engagement to mobile sales

Messaging, from communication to booking tool

From Travel Services to Travel Experiences

Peer-to-peer services challenge corporations

From travel transactions to end-to-end travel experiences

A lifestyle brand positioning for Lastminute.com

A personalised travel experience

Definitions

Definitions

Why buy this report?

Want to find out more about this report?

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