Global Digital Spending in Travel & Hospitality at $22 Bn in 2018 and is Expected to Reach $57 Bn by 2023: Says Zinnov

/ -- Global digital outsourcing opportunity for Service Providers in the T&H vertical is pegged at $1.6 Bn in 2018 and is expected to grow to $4 Bn by 2022 at 20% CAGR
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Speaking at the launch of the report, Praveen Bhadada, Partner & Practice Head, Digital Transformation, Zinnov said, "Over the last 12-18 months, T&H has been experiencing a large volume of digital investments with increasing deal sizes. More than 20% of the digital deals in this space are over $5 Mn in value. Digital investments are majorly targeted towards areas such as personalized and connected travel experience and enhancement of workforce efficiency. We are witnessing the convergence of multiple digital technologies - AI, IoT, and RPA to deliver these use cases. Leading Service Providers focused on the segment are investing in T&H-specific IPs, leveraging industry partnerships, and engaging with differentiated engagement models to outpace the competition."

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Founded in 2002, Zinnov is a global management and strategy consulting firm, with presence in Silicon Valley, Houston, Bangalore, and Gurgaon. Over the past 16 years, Zinnov has successfully consulted with over 250+ Fortune 500 customers to develop actionable insights that help them in their transformation journeys. With core expertise in Product Engineering and Digital Transformation, Zinnov assists clients by: