Smart Hospitality Market

Smart Hospitality Market is expected to reach US$ 18.12Bn by 2026 at a CAGR of 25.5% during the forecast period. Smart hospitality enables hotels to increase revenue with digital In-room entertainment systems and enhance their guest experience. Astute Hospitality provides HD free-to-guest channels, IPTV services, Interactive TV, and Wi-Fi for hotels.

The growing demand for authentic-time optimized guest experience management, incrementing adoption of Internet of Things (IoT), low operational costs and luring revenue generation, and energy management systems are some driving factors expected to propel the perspicacious hospitality market. High initial cost of deployment and integration involution over legacy systems are some restraining factors would obstruct the magnification of the perspicacious hospitality market.

Smart Hospitality Market

The hotel building automation system is expected to have larger smart hospitality market share during the forecast period, as building automation for facility & emergency response management, water management, parking management and building energy optimization are now being widely adopted in the hospitality sector.

Based on hotel type, Business hotels are expected to have large market size during the forecast period, as business hotels provide their guests with unified communication capabilities that enable the guests to conduct conferences, meetings and connect to associates around the world. Thus many tour groups and small conference groups find these hotels attractive.

While utilizing the deployment model, keenly intellective hospitality market is relegated into an on-demand deployment model and on-premises deployment model. Among these, the on-demand deployment model is expected to reach at the highest CAGR during the forecast period, as it enables hotels to deploy accommodations and software in a virtual environment.

Among software’s, the Guest accommodation management system is liable to reach at the highest CAGR during the forecast period. The growing demand for automated authentic-time optimized guest accommodations and the elevate of hyper-urbanization and demographic magnification are estimated to drive the adoption of perspicacious hospitality solutions across sundry hotel types

As per the geographic analysis, smart hospitality market is divided into North America, Asia Pacific, Europe, and Latin America and the Middle East and Africa. Among these, Europe is likely to hold the largest smart hospitality market share during the forecast period, as Europe is likely to benefit from robust internet infrastructure, technological advancements, and widespread adoption of new technologies.

Key Players Profiled and Analysed in the report

BuildingIQ, Honeywell International, Winhotel Solutions, Cisco Systems, Inc., Oracle Corporation, Huawei Technologies etc.

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The scope of the Smart Hospitality Market report

Smart Hospitality Market, by Software

• Hotel operation management system
• Staff mobility and workforce management
• Inventory and logistics management
• Revenue management
• Integrated security system
• Video surveillance system
• Access control system
• Emergency incident management system
• Hotel building automation system
• Energy management platforms
• Facility management system
• Guest service management system
• Centralized reservation system
• Room automation and control system
• Guest experience management system
• Integrated communication technology solutions
• Network management system
• Unified communications and collaboration
• Mobile device management

Smart Hospitality Market, by Service

• Professional service
• Consulting service
• System integration and deployment
• Support and maintenance
• Managed service

Smart Hospitality Market, by Hotel Type

• Business hotel
• Heritage and boutique hotel
• Resorts and spas
• Others

Smart Hospitality Market, by Deployment Model

• On-premises
• On-demand

Smart Hospitality Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Key Players of Smart Hospitality Market

Schneider Electric

Siemens AG

IBM Corporation

BuildingIQ

Honeywell International

Winhotel Solutions

Cisco Systems, Inc.

Oracle Corporation

Huawei Technologies

Johnson Controls

NEC Corporation

Infor, Inc.

This Report Is Submitted By : Maximize Market Research Company

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About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmace