The travel & tourism industry continues to be a hotbed of patent innovation. Activity is driven by a greater desire from consumers for personalized offerings that heighten the traveler experience, and the growing importance of technologies such as artificial intelligence, cybersecurity, Internet of Things, and cloud. In the last three years alone, there have been over 14,000 patents filed and granted in the travel & tourism industry, according to GlobalData’s report on Artificial intelligence in travel & tourism: location-based personalization. Buy the report here.
According to GlobalData’s Technology Foresights, which uses over 11,000 patents to analyze innovation intensity for the travel & tourism industry, there are 10+ innovation areas that will shape the future of the industry.
Location-based personalization is a key innovation area in artificial intelligence
Location-based personalization is a marketing strategy that tailors promotional campaigns and advertising to the interests and preferences of consumers based on their location data and information on their past purchasing behavior. It uses geolocation technology to pinpoint users’ physical location and deliver personalized content that is relevant to their current location and context.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 30+ companies, spanning technology vendors, established travel & tourism companies, and up-and-coming start-ups engaged in the development and application of location-based personalization.
Key players in location-based personalization – a disruptive innovation in the travel & tourism industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to location-based personalization
Source: GlobalData Patent Analytics
Location-based personalization innovation is characterized by the lack of travel & tourism companies lodging patent applications. This does necessarily mean that they do not see value in its applications and benefits but could instead reflect a belief that partnering with specialists is a quicker and more effective route to successfully rolling out a location-based strategy. Automotive manufacturers such as Toyota, Ford, and Nissan are highly active in this area, as are ride-hailing companies like Didi. The car rental sector is, therefore, the most likely mass adopter of such technology.
In terms of application diversity, Honda Motor leads the pack, while Gogoro and LG are in the second and third positions, respectively. By means of geographic reach, Trax Technology Solutions held the top position, followed by ADOBE and Kia.
To further understand the key themes and technologies disrupting the travel & tourism industry, access GlobalData’s latest thematic research report on Artificial Intelligence (AI) in Travel and Tourism.