Rapid and profound technological changes in the hospitality, travel, and transportation industries have redefined best practices and business processes over the past few years. The changes have been at all levels across business, from operational efficiency gains due to new technology to an even greater focus on guest/passenger-centricity because customers can now comment about the experience in real time, given the sharing economy we are all in. Technologies continue to disrupt these industry sectors in ways that can quickly marginalize laggards: It can be through traditional businesses' adoption of 3rd Platform technologies such as cloud, social, big data and analytics, and mobile or through digitally disrupting the entire business model such as in the case of Airbnb. Customer centricity now demands an outside-in approach, as opposed to the traditional way of an inside-out approach, to strategic planning, operations, and customer engagement delivery.
Organizations in the hospitality, travel, and transportation industries will proactively drive experiential customer delight and operational efficiencies through digital transformation. Not only will it result in better alignment of business and technology outcomes but also improve guest/passenger experience, employee satisfaction, and brand reputation.
Top 10 Worldwide Hospitality, Travel and Transportation Predictions:
Prediction 1: By 2021, DX Investments in Hospitality Will Increase 30%, Driven by Improving Operational Efficiency and New Innovations in Hospitality-Related 3rd Platform Technologies.
Prediction 2: By 2020, Digitized Hoteliers Will Have Implemented Guest Experience Platforms, Supported by Cognitive Capabilities, to Provide 360-Degree Customer Engagement, Increasing Customer Loyalty by 20%.
Prediction 3: By 2019, 50% of New Hospitality, Travel, and Transportation Applications Purchased Will Be Deployed in the Cloud to Secure Business Objectives, Particularly Reinventing Guest/Passenger Experience and Event/Incident Management.
Prediction 4: By 2019, Due to Rising Cyberthreats, 30% of Hoteliers, Travel, and Transportation Companies Will Have Adopted Integrated Security Platform Solutions to Protect Digital Properties, Corporate Data, and Guest Information.
Prediction 5: The Adoption of Mobile Guest Experience Solutions Will Drive Additional Guest Spending, Enabling Hoteliers to Increase Revenue by Up to 10% by End of 2018.
Prediction 6: By 2021, Through Automation, Augmentation, and/or the Assistance of Hotel Guest Activities, Cognitive Robots Will Deliver Efficiency Gains of Up to 20%.
Prediction 7: By 2021, at Least 50% of Hotel Chains Worldwide Will Have Adopted an Omni-Channel Marketing Approach Enabling Them to Drive Cost Savings by 15%.
Prediction 8: By the End of 2018, 25% of Four-Star and Above Chain-Branded Hotels Will Have Implemented Connected-Room Technology to Personalize Guest Experience and Improve Service Delivery, Satisfaction, and Operational Efficiency.
Prediction 9: By 2020, Through the Implementation of 3rd Platform Technologies, Hotel Chains, Travel Agencies, and Transportation Companies Will Have Transformed Their Workforces to Better Manage Resources and Reduce Operational Costs, Achieving Savings of Up to 10%.
Prediction 10: By 2019, AI Will Have Been Adopted by 70% of Online Travel Agencies and 60% of Hoteliers Worldwide, Thus Improving New Customer Addition by Up to 30%.
To register for the on-demand web conference on these 10 predictions or to learn more about any of the IDC FutureScape Web Conferences, please visit: https://www.idc.com/events/futurescapes
You can find full context around these predictions in the newly published document, IDC FutureScape: Worldwide Hospitality, Travel, and Transportation 2018 Predictions (Document) on idc.com .