TECH BUYER Oct 2020 - IDC FutureScape - Doc # US45386320

IDC FutureScape: Worldwide Hospitality, Dining, and Travel 2021 Predictions

By: Dorothy CreamerSenior Research Analyst, Hospitality and Travel Digital Transformation Strategies, Leslie HandGroup Vice President, IDC Retail and Financial Insights

Table of Contents

IDC FutureScape Figure

Figure: IDC FutureScape: Worldwide Hospitality, Dining, and Travel 2021 Top 10 Predictions

Executive Summary

IDC FutureScape Predictions

Summary of External Drivers

Predictions: Impact on Technology Buyers

Prediction 1: By 2021, 85% of Hospitality Brands Will Implement Self-Service Technologies, Seeing a 30% Lift in Sales Through Channels Including Online, Mobile, and Kiosk and a 50% Increase in Customer Satisfaction

Associated Drivers

IT Impact

Guidance

Prediction 2: As a Result of the Pandemic, by 2022, 25% of Hospitality Operators Will Leverage DX Investments to Support Alternative Revenue Streams, Lifting the Net Margin by 10% and Increasing Customer Loyalty by 20%

Associated Drivers

IT Impact

Guidance

Prediction 3: By 2023, 30% of Restaurants Using Third-Party Delivery Platforms Will Deploy Native Delivery Options to Eliminate Third-Party Fees, Increasing Profit by 15%

Associated Drivers

IT Impact

Guidance

Prediction 4: By 2023, 60% of Hospitality Brands Will Add DevOps Talent and Tools to Optimize Costs, Ensure Business Continuity, and Increase Speed to Market of Solutions by 30%

Associated Drivers

IT Impact

Guidance

Prediction 5: By 2023, 25% of Hospitality Operators Will Accelerate Intelligence Capabilities by Acquiring AI Start-Ups to Build Data Delivery Platforms for Personalization, Increasing Customer Loyalty by 15%

Associated Drivers

IT Impact

Guidance

Prediction 6: By 2024, 80% of Hospitality Brands Will Enable Contactless Service and Payments Through Digital Infrastructure, Increasing Ticket Sizes and Customer Retention by 25% and 30%, Respectively

Associated Drivers

IT Impact

Guidance

Prediction 7: By 2025, Use of Robotics, AI-Powered Assistants, and Connected Guest and Employee Systems Will Increase and Accelerate Investment in IoT by 150% and Cloud and Edge Platforms by 250% Over Forecast Levels

Associated Drivers

IT Impact

Guidance

Prediction 8: By 2023, 65% of Hospitality Organizations Will Pursue Significant Workforce Transformation Leveraging Communications, Mobility, AR/VR, and Cloud, Driving Up IT Spend in These Areas by Net-New 8%

Associated Drivers

IT Impact

Guidance

Prediction 9: As a Result of Pandemic-Related Heightened Security Risks, by 2025, Hospitality Brands Will Increase Security Spending by 40% by Adding Required Talent and Investing in Self-Healing Predictive Technology

Associated Drivers

IT Impact

Guidance

Prediction 10: By 2024, 40% of Hospitality Brands Will Commit to Sustainability with IoT, Blockchain, and Advanced Analytics Partnerships, Reducing Waste/Carbon Footprint by 30% and Increasing Customer Loyalty by 50%

Associated Drivers

IT Impact

Guidance

Advice for Technology Buyers

External Drivers: Detail

Accelerated Disruption — Crisis, Resilience, and Opportunity

Description

Context

Strategic Innovation — Shaping the Future Enterprise Today

Description

Context

The Next Normal — Resilient Business and Operating Models

Description

Context

Intelligence Everywhere — Data Drives Action

Description

Context

Digital Platform — Ecosystems at Scale

Description

Context

Crisis of Trust — Meeting Rising Expectations

Description

Context

Customer Engagement Redefined — Safe, Secure, and Sustainable Digital Experience

Description

Context

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