Global Smart Hospitality Market – Industry Trends and Forecast to 2024

Market Analysis: Global Smart Hospitality 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.

Market Definition: Global Smart Hospitality Market

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.

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

Market Segmentation: Global Smart Hospitality Market

The global smart hospitality market is segmented on the basis of software into hotel operation management system, integrated security system, hotel building automation system, guest service management system, integrated communication technology solutions. The hotel operation management system is further sub segmented into staff mobility and workforce management, inventory and logistics management and revenue management. The integrated security system is further sub segmented into video surveillance system, access control system and emergency incident management system. The hotel building automation system is further sub segmented into energy management platforms and facility management system. The guest service management system is further sub segmented into centralized reservation system, room automation and control system and guest experience management system. The integrated communication technology solutions is further sub segmented into network management system, unified communications and collaboration and mobile device management system.

On the basis of service, the global smart hospitality market is segmented into professional services and managed services. The professional services are further sub segmented into consulting services, deployment and integration and support & maintenance.

On the basis of hotel type, the global smart hospitality market is segmented into business hotels, heritage & boutique hotels, resorts & spas and others.

On the basis of deployment model, the global smart hospitality market is segmented into on-premises and on-demand.

On the basis of geography, global smart hospitality market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are 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.

Company Share Analysis: Global Smart Hospitality Market

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. 

Major Market Competitors: Global Smart Hospitality Market

Some of the major players of the global smart hospitality market are IBM Corporation, Oracle, Cisco Systems, Inc., Huawei Technologies Co., Ltd., NEC India Pvt. Ltd., BuildingIQ., Infor, Winhotel Solution, Honeywell International Inc., Johnson Controls., Siemens AG, Schneider Electric among others.

Research Methodology: Global Smart Hospitality Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Global Smart Hospitality Market – Industry Trends and Forecast to 2024