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Smart Hospitality Market is thriving worldwide by 2026 | Top Key Players IBM Corporation, Honeywell International, Schneider Electric SE, Siemens AG, Cisco Systems, Oracle Corporation, Johnson Controls International

05-11-2020 01:52 PM CET | Health & Medicine

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Smart Hospitality Market

Smart Hospitality Market

Global Smart Hospitality Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2026. Smart Hospitality Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Smart Hospitality market and provides information regarding the revenue for the period 2020 to 2026.

Global Smart Hospitality Market is valued approximately USD 11.43 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 21.21 % over the forecast period 2019-2026. Smart hospitality involves the use of advanced technologies to aid the hospitality industry. These he automated software and smart solutions can help customers to plan trips, book hotels rooms according to their choice. This has brought a revolution in the hospitality sector. As with the growing penetration of connected devices and rising use of smart phones access to these smart solutions becomes easy driving the market towards growth.

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Further, the spread of the COVID-19 has brought a large scale disruption in the tourism market. As with the surging pandemic travel restrictions have been imposed by governments since January 2020 across the globe to stop the spread of the disease. This has closed majority of the tourist places across the globe. As per the report by the World Tourism Organization, 96% of all worldwide destinations have introduced travel restrictions in response to the pandemic as of as of 6 April, 2020.Of these around 90 destinations are completely or partially closed for tourists. This restriction on travel and tourist places have brought a steep decline in the bookings and check in in hotels.

Furthermore, customers prefer to pre-plan, pre-book their travel and hotels which is done easily through these solutions. Hence growing adoption of smart phones have propelled market players to adopt Smart Hospitality solutions. Moreover, surging demand for real time optimized guest experience management further fuels the market growth. As with the shift of the market towards customer satisfaction, the need to cater to customer needs on time is increasing which can be done through the use of these smart and real time solutions. However, high initial cost of deployment and limited availability impedes the growth of the market over the forecast period of 2020-2026.

Major market player included in this report are:
o Schneider Electric SE (Rueil-Malmaison, France)
o Siemens AG (Munich, Germany)
o IBM Corporation (New York, U.S.)
o BuildingIQ (California, U.S.)
o Honeywell International Inc. (New Jersey, U.S.)
o Winhotel Solutions (Balearic Islands, Spain)
o Cisco Systems, Inc. (San Jose, U.S.)
o Oracle Corporation (California, U.S.)
o Huawei Technologies Co. Ltd (Shenzhen, China)
o Johnson Controls International plc (Wisconsin, U.S.)

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. North America is the leading/significant region across the world in terms of market share owing to the rapid adoption of technology and presence of major market player in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising disposable income and growing living standards coupled with high demand for smart phones would create lucrative growth prospects for the Smart Hospitality market across Asia-Pacific region.

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 Software:
o Hotel Operation Management System
o Hotel Building Automation System
o Integrated Communication Technology Solutions
o Guest Service Management System

By Service:
o Professional
o Managed

By Hotel Type:
o Business
o Heritage & Boutique
o Resorts & Spas

By Region:
o North America
o U.S.
o Canada
o Europe
o UK
o Germany
o Asia Pacific
o China
o India
o Japan
o Latin America
o Brazil
o Mexico
o Rest of the World

Table of Contents:

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Smart Hospitality Market, by Region, 2018-2026 (USD Billion)
1.2.2. Smart Hospitality Market, by Software, 2018-2026 (USD Billion)
1.2.3. Smart Hospitality Market, by Service, 2018-2026 (USD Billion)
1.2.4. Smart Hospitality Market, by Hotel Type, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Smart Hospitality Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Smart Hospitality Market Dynamics
3.1. Smart Hospitality Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Smart Hospitality Market Industry Analysis

Chapter 5. Global Smart Hospitality Market, by Software

Chapter 6. Global Smart Hospitality Market, by Service

Chapter 7. Global Smart Hospitality Market, by Hotel Type

Chapter 8. Global Smart Hospitality Market, Regional Analysis

Chapter 9. Smart Hospitality Market Competitive Intelligence

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