The travel industry has always been one of the fastest growing industries, but it is technology that has taken travel to a whole new level. In 2024, Traveltech is gaining even more relevance, responding to the growing demands of customers by providing innovative solutions that are changing our approach to planning and executing trips. Today, we embark on a journey through the latest technological trends that are revolutionising the world of travel.
The new reality of the Traveltech industry
The year 2024 is when technology becomes a key component of every step of the journey. Customers expect not only ease of planning, but also personalised experiences, immediate assistance in case of problems and flexibility. The travel industry, in order to meet these expectations, must continually introduce new technologies. Those who can quickly adopt modern tools have an advantage.
According to a report by Allied Market Research, the traveltech market is expected to reach $21bn by 2032, with annual growth of 8.6% from 2023 to 2032.
Key growth drivers include an increase in the use of technologies such as voice search, contactless payments and artificial intelligence that are changing the way we plan and execute travel.
Mobile apps for tourists - travel at your fingertips
The first trend that is gaining momentum is the development of mobile apps for tourists. Searching for attractions, making reservations, planning the entire trip - all of this is now within a click of a smartphone screen. These apps not only offer convenience, but also integrate numerous services in one place, significantly saving users' time. This trend is a response to the growing needs of consumers, who are looking for tools that make it easier to organise their travel, from planning to final execution. For Traveltech businesses, this means they need to invest in mobile app development to meet these growing expectations.
An example of this is apps such as Getaway, which allow a user's entire trip to be organised in one place, from hotel bookings to airport check-in reminders. The development of mobile apps solves the problem of the fragmentation of travel services by integrating them into a single, easily accessible tool.
Augmented Reality and Virtual Reality - tourism of the future
Augmented Reality (AR) and Virtual Reality (VR) technologies are changing the way we travel and visit the world. The rise in popularity of AR and VR in 2024 sets a new standard for tourist attractions. With them, tourists can now take virtual tours of monuments, museums or cities before they even set off on their journey. Not only does this technology create more engaging and attractive travel guides, but it also solves the logistical and timing issues faced by travellers. For businesses, this means an opportunity to attract customers by offering them unique experiences that start from the moment they plan their trip.
An example is the AirPano app, which offers users virtual tours of famous tourist attractions such as the Grand Canyon or the Eiffel Tower.
The global virtual reality (VR) market is expected to grow by a gigantic $65 billion by 2028, Technavio analysts forecast. Estimated growth is expected to be more than 28% per year.
Machine learning - personalising the travel experience
Another important trend in Traveltech is the increasing role of machine learning algorithms. Thanks to advanced learning systems, it is now possible to tailor travel offers to individual customers' needs, significantly improving customer satisfaction. Algorithms analyse data about users' preferences, previous travels and even local weather conditions to suggest the best offers. This type of personalisation of the experience is becoming key to customer loyalty, with customers expecting their trips to be unique and tailored to their individual expectations.
The bid personalisation solutions that have been introduced into the Getaway system have made it possible to achieve a 300% increase in enquiries.
Intelligent monitoring systems - security and rapid response
A recent but equally important trend is the development of intelligent monitoring systems, which are becoming an indispensable component for travel service providers and organisers. These systems are used to monitor incidents, technical and security problems. If anomalies are detected, algorithms immediately generate alerts, allowing for a rapid response. In a world where every second matters - especially in the context of major tourist events or emergencies - these types of solutions are invaluable. They help to avoid crises while optimising systems performance, giving companies a competitive advantage.
Innovation as the key to success
Innovation is an indispensable element of survival in the fast-paced Traveltech industry. Those who fail to implement cutting-edge solutions can quickly fall victim to a technological debt that limits their ability to grow and compete in the market.
Modern technologies such as mobile apps, AR/VR, machine learning or intelligent monitoring systems not only improve the quality of services, but also give an advantage to those who can adapt quickly to changing realities. This is exactly the process that Neoncube can help with, offering support and technology advice at every stage of Traveltech's transformation.