Report ID :10210494 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
Global Smart Hospitality Market is valued approximately at USD 9.13 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 25.65% over the forecast period 2019-2026. Energy management systems, adoption of IoT, demand for guest experience management in real-time are the key factors for the growth of the market. Further, low cost of operation and attractive revenue growth are the factors inviting the industry players to adopt smart hospitality. Additionally, growing cloud based IoT platforms and unexplored concept of BYOD (bring your own device) applications are expected to drive the market. However, the complexities involved with the integration of present networks and legacy system will limit the market growth. High initial cost of deployment and limited availability of technically skilled personnel will inhibit the hospitality in the active adoption of smart hospitality.
The regional analysis of global Smart Hospitality Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the widespread internet infrastructure, technological advancements and active adoption of new technologies. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as the rising number of initiatives by the private companies to promote automated processes in the hospitality industry in emerging countries such as India and China that would create lucrative growth opportunities for the Smart Hospitality market across the region.
Major market player included in this report are:
NEC Corporation
Huawei Technologies Co. Ltd
IBM Corporation
Cisco Systems, Inc.
Schneider Electric Se
Siemens AG
Johnson Controls
Honeywell International, Inc.
Winhotel Solution S.L.
Oracle Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
By Software
By Service
By Hotel Type:
Business Hotels
Heritage and Boutique Hotels
Resorts and Spas
Others
By Deployment Model:
On-Premises
On-Demand
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Smart Hospitality Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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