The global customisation and personalisation in travel market size is expected to reach USD 620.71 Million in 2032. The customisation and personalisation in travel market is growing rapidly.
As per FMI Analysts, the global customisation and personalisation in travel market is estimated to be valued at USD 126.56 Million in 2022 and is projected to increase at a CAGR of 17.8% in the forecast period from 2022 to 2032.
| Report Attribute | Details |
|---|---|
| Customisation and personalisation in Travel Market Estimated Base Year Value (2021) | USD 107.43 Million |
| Customisation and personalisation in Travel Market Expected Market Value (2022) | USD 126.56 Million |
| Customisation and personalisation in Travel Market Anticipated Forecast Value (2032) | USD 620.71 Million |
| Customisation and personalisation in Travel Market Projected Growth Rate (2022 to 2032) | 17.8% CAGR |
The proliferation of new travel destinations around the globe as well as the emergence of millennial travellers are key components in creating customised and personalized travel marketing. The massive wave of digital revolution has eroded the entire travel industry and created new opportunities for customised and personalized travel marketing.
It is becoming more and more popular for travel marketers to develop customized and personalized tours based on the needs and interests of travellers. A properly planned trip with significant inputs can alter the entire travel experience for a tourist. Travel-related data is changing the world's perception of the tourism industry.
Travel marketing is still largely dominated by the conventional way of traveling because a large population of tourists, mostly older travellers, are ignorant of modern technology and traditional travel marketing.
A number of travel tools are currently in use and many of the leading travel agencies in the world use these tools to customize travel marketing campaigns, generating demand for customisation and personalisation in travel. Travel portals have created a virtual corridor that leads travellers to a larger and better area of the travel industry. Several travellers around the globe are shopping and planning their travels on social media platforms prior to departure. Marketers also utilize social media platforms such as Facebook and Twitter to sell their products and services.
Travel agents and tour operators are rehashing their travel marketing strategies by gauging the exact choice of each traveler and sending out professional and customized newsletters and emails to entice potential travelers, influencing the market share of the customisation and personalisation in travel market. High-end marketing tools are being used to identify client information and to create personalized emails to ignite tourists' interest in particular travel packages.
In the travel industry, social media platforms are actively used by companies to woo the hashtag-loving traveller. A well-designed social media campaign can not only create new customers for the company, but it can also strengthen customer loyalty, boosting growth of the customisation and personalisation in travel market. A social media presence can be a springboard for all marketing and promotional activities.
The JetBlue app extends this experience, leveraging geo-location capabilities to provide consumers with important travel information in real-time, according to a 2015 report by Amadeus, a major IT provider for the travel sector.
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The customisation and personalisation in travel market has received a lot of traction in the industry.
There are several factors contributing to the emergence of customisation and personalisation in travel marketing today, such as the existence of millennial travellers and travel-friendly economies across the globe. The digital wave that is tearing apart the travel industry has paved the way for customised and personalised marketing campaigns. Over the last decade, new travel destinations are mushrooming across the globe, increasing demand for customisation and personalisation in travel marketing.
The use and accumulation of travel data have changed the face of the travel industry and given it a whole new dimension. Customisation and personalisation are slowly but steadily gaining traction in the market. A properly planned trip can make tourism a very different experience, creating demand for customisation and personalisation in travel.
The key to success for key stakeholders in the travel industry is to personalize and customize travel marketing. Modern-day consumers are looking for tailor-made and customized travel packages, Emails will soon be an outdated tool in the rapidly evolving travel industry. Travel companies use advanced marketing tools to promote their offerings.
The pool of aged travellers is still shunning modern and customized travel marketing due to their inexperience with new technologies. An enormous proportion of tourists are still dependent on conventional forms of travel, this further affects the adoption of customisation and personalisation in travel.
Globally, Asia-Pacific holds a significant share in the personalized travel and experiences market, and is expected to sustain its share throughout the forecast period, Asia-Pacific is known for its diverse cultures and attractive destinations. China, Japan, South Korea, India, and Malaysia have the highest concentration of outbound trips among households with higher income levels.
Moreover, Asia-Pacific tourists prefer tours, city trips, and beach holidays among holiday types in the region. International tourist arrivals in Asia-Pacific increased by 12% in 2019. The demand for customisation and personalisation in travel market is expected to grow due to increased adoption of internet-enabled phones and the internet of things.
A host of travel tools are now used by most leading travel agents around the world for customisation and personalisation in travel marketing because travel portals have created a virtual corridor for travelers, allowing them to experience the travel world on a wider scale. Modern-day travelers are shifting toward tailor-made and customized travel packages; Emails are a thing of the past; Travel companies are using advanced tools to promote their products and services, curating new opportunities for the customised and personalized travel market.
The rise of social media platforms is changing the way travel marketers market their products and services. Many travelers around the globe are using social media platforms to conduct their research before traveling, while marketers primarily use Facebook and Twitter to market their wares and services.
Some of the leading companies operating in the global customisation and personalisation in travel market include Best Western, Carnival Corp., Club Family Hotel, Delta Flights, EasyJet, KLM Royal Dutch, Princess Cruises, Virgin Hotels, IBERIA LAE SA, and Expedia Group, Inc.
Companies are revamping their travel marketing strategies to woo a new lot of consumers by collecting the exact information about the prospective customer and sending professional and personalized emails to ignite consumer interest in a particular tour package. These companies use sophisticated marketing tools to segregate the customer's information into segments and then design personalized emails and newsletters to entice tourists, driving growth in the customised and personalized travel market.
An active social media presence can provide an instant launch pad to any marketing or promotional activity planned by a travel management company. Thus, travel management companies are actively using social media platforms to reach out to hashtag-loving travelers. An effective social media campaign can generate new clients, while strengthening customer loyalty.
The JetBlue app then extends this experience, using geo-location capabilities to provide real-time travel updates based on location. According to a 2015 report by Amadeus, a major IT provider in the travel sector, JetBlue has "upped" its ability to deliver a consistent and immersive experience across multiple channels.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 17.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Service Type, Mode of Booking, Age Group, Purpose, Region |
| Regions Covered | North America; Europe; Asia-Pacific; LAMEA |
| Key Countries Profiled | USA, Canada, Mexico, Germany, France, UK, Italy, Spain, Rest of Europe, China, India, Japan, Australia, South Korea, Rest of Asia-Pacific, Latin America, Middle East, Africa |
| Key Companies Profiled | Best Western; Carnival Corp.; Club Family Hotel; Delta Flights; EasyJet; KLM Royal Dutch; Princess Cruises; Virgin Hotels; IBERIA LAE SA; Expedia Group, Inc. |
| Customization | Available Upon Request |
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The global customisation and personalisation in travel market is set to exceed USD 620.71 Million by 2032.
The USA is projected to lead the customisation and personalisation in travel market in the forecast period.
Best Western, Carnival Corp., Club Family Hotel, Delta Flights, EasyJet, and others are some of the renowned companies in the customisation and personalisation in travel market.
| Expected Market Value in 2024 | USD 276.7 billion |
|---|---|
| Projected Forecast Value in 2034 | USD 417.6 billion |
| Anticipated Growth Rate from 2024 to 2034 | 3.6% |
| Expected Market Value (2023) | USD 7.1 billion |
|---|---|
| Projected Forecast Value (2033) | USD 17.8 billion |
| Anticipated Growth Rate (2023 to 2033) | 12.1% CAGR |
| Market Size Value (2022) | USD 10.5 Trillion |
|---|---|
| Market Size Value (2032) | USD 17.1 Trillion |
| Market Growth Rate (2022 to 2032) | 5% |
| Market Value (2022) | USD 462.50 Million |
|---|---|
| Market Anticipated Forecast Value (2032) | USD 559.30 Million |
| Market Projected CAGR (2022 to 2032) | 6.54% |
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