Rest Of Latin America Artificial Intelligence in Tourism Market (2024-2029)

This research study involved the extensive use of secondary sources, directories, and databases, such as Dun & Bradstreet (D&B) Hoovers and Bloomberg BusinessWeek, to identify and collect information useful for a technical, market-oriented, and commercial study of the AI in tourism market. The primary sources have been mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of the value chain of this market. In-depth interviews have been conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information.

Secondary Research

The market for companies offering AI in tourism solutions and services to different end users has been estimated and projected based on the secondary data made available through paid and unpaid sources and by analyzing their product portfolios in the ecosystem of the AI in tourism market. In the secondary research process, various sources such as Journal of Tourism Studies and Hospitality Research and International Journal of Contemporary Hospitality Management (IJCHM) have been referred to for identifying and collecting information for this study on the AI in tourism market. The secondary sources included annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, and articles by recognized authors, directories, and databases. Secondary research has been mainly used to obtain essential information about the supply chain of the market, the total pool of key players, market classification, segmentation according to industry trends to the bottommost level, regional markets, and key developments from both market- and technology-oriented perspectives that primary sources have further validated.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and product development/innovation teams; related critical executives from AI in tourism service vendors, System Integrators, professional service providers, and industry associations; and key opinion leaders. Primary interviews were conducted to gather insights, such as market statistics, revenue data collected from services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped in understanding various trends related to technologies, applications, deployments, and regions. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and end users using AI in tourism services, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of AI in tourism services which would impact the overall AI in tourism market.

Note: Others include sales managers, marketing managers, and product managers.

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Market Size Estimation

Multiple approaches were adopted to estimate and forecast the size of the AI in tourism market. The first approach involves estimating market size by summing up the revenue generated by companies through the sale of AI in tourism solutions and services.

Both top-down and bottom-up approaches were used to estimate and validate the total size of the AI in tourism market. These methods were extensively used to estimate the size of various segments in the market. The research methodology used to estimate the market size includes the following:

• Key players in the market have been identified through extensive secondary research.
• In terms of value, the industry’s supply chain and market size have been determined through primary and secondary research processes.
• All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.
• After arriving at the overall market size, the AI in tourism market was divided into several segments and subsegments.

Artificial Intelligence in Tourism Market : Top-Down and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size, the AI in tourism market was divided into several segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated by the top-down and bottom-up approaches.