Smart Hospitality Market Growth, Opportunity, Business Trend, and Future Outlook 2021-2027
The Smart Hospitality Market report is a collection of useful information, quantitative and qualitative estimation by industry experts, the contribution from industry connoisseurs and industry accomplices across the value chain. Furthermore, the report also provides the qualitative results of diverse market factors on its geographies and segments. This report on Smart Hospitality market gives historical, current, and future market sizes (US$ Mn) of product types, applications, route of administration, distribution channels, and geographic regions.
Smart Hospitality Market was valued at USD 10.86 Billion in 2019 and is projected to reach USD 65.18 Billion by 2027, growing at a CAGR of 25.1% from 2020 to 2027.
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyses key emerging trends and their impact on present and future development.
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The major players dominating the consulting market are LG, Honeywell International, IBM Corporation, Oracle Corporation, Infor, Inc., Smart Hospitality Corporation, Johnson Controls, NEC Corporation, Huawei Technologies, BuildingIQ, Schneider Electric, Siemens AG, Winhotel Solutions, Cisco Systems, Inc., SAMSUNG. These companies have been profiled in the report providing detailed analysis of their financial information and business strategies.
Global Smart Hospitality Market Overview:
Smart hospitality refers to the integration of technology such as automated software and smart solutions for hospitality. It is widely used in hotels & cruises. It helps to reduce the cost and also improves the efficiency of staff and gives a unique experience to the guest so which they want to come again. It helps the guest in the selection of rooms, type and number of their choice, room entertainment systems as well as internet features. It is being adopted extensively on a global scale. It helps to enhance the guest experience that boosts the revenue of the company.
Surging demand for real-time optimized guest experience management is driving the growth of the market. Attractive revenue growth and low operational costs are boosting the growth of the market. Increasing the adoption of IoT and energy management systems is propelling the growth of the market. Advanced technological developments in smart hospitality are contributing to the growth of the business. The high initial cost of deployment is restricting the growth of the market. Integration complexities over legacy systems and networks are hindering the growth of the market. Limited availability of technically skilled personnel is hindering the growth of the market.
In November 2016, SMARTEQ has entered into the partnership with Swisscom hospitality in order to provide modern technology based hospitality solutions in Russia. This partnership will help Swisscom to implement connected hotel TV, high speed internet access, smart room control, VOIP solutions and other smart hospitality technologies.
In February 2016, Rainmaker has entered into the partnership with Cvent, an enterprise event management platform provider. This partnership will help Rainmaker in getting integrated platform to manage the guest needs and demand on the real time basis.
Global Smart Hospitality Market Split By Product Type And Applications:
This report segments on the basis of Types are:
Hotel Operation Management System
Hotel Building Automation System
This report segments on the basis of Application are:
Heritage & Boutique Hotel
Resorts & Spas Hotel
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Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Global Smart Hospitality Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
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How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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