The Smart Hospitality leverages the hospitality segment with the help of smart solutions and automated software using digital technology through mobile devices and apps to enhance the customer services. These technologies help in providing a great hospitality experience and empowering the guests to select room, room types, and room number through their mobile phones. The increasing demand for real-time optimized guest experience management, increasing adoption of Iot among others is some of the factors fuelling the growth of this market.
The Global Smart Hospitality Market accounted for USD 5.6 billion in 2016 growing at a CAGR of 25.9% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Smart Hospitality Market By Geography, Software (Hotel Operation Management System, Integrated Security System, Hotel Building Automation System, Guest Service Management System, Integrated Communication Technology Solutions), Service (Professional Services, Managed Services), Hotel Type, Deployment Model – Industry Trends and Forecast to 2024
TOP Competitors of Market:
- IBM Corporation,
- Cisco Systems, Inc.,
- Huawei Technologies Co., Ltd.,
- NEC India Pvt. Ltd.,
- Winhotel Solution,
- Honeywell International Inc.,
- Johnson Controls.,
- Siemens AG,
- Schneider Electric
- among others.
Company Share Analysis:
The report for Smart Hospitality Market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.
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Major Market Drivers & Restraints:
- Increasing Demand for Real-Time Optimized Guest Experience Management
- Attractive Revenue Growth and Low Operational Costs
- Increasing Adoption of Iot and Energy Management Systems
- High Initial Cost of Deployment
- Limited Availability of Technically-Skilled Personnel
Global Smart Hospitality Market is segmented on the basis of software:- Hotel operation management system, integrated security system, hotel building automation system, guest service management system, integrated communication technology solutions.
On the basis of service:- Professional services and managed services.
On the basis of hotel type:- Business hotels, heritage & boutique hotels, resorts & spas and others.
On the basis of deployment model: On-premises and on-demand.
On the basis of geography:- North America, South America, Europe, Asia-Pacific, and Middle East & Africa. U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
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