Hospitality Property Management Software (PMS) Market Current Trends, Developments and Business Growth Opportunity 2021 to 2026

The report presents an in-depth assessment of the Global Hospitality Property Management Software (PMS) Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Hospitality Property Management Software (PMS) investments from 2021 till 2026. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.      

The hospitality property management (PMS) software market is expected to grow at a CAGR of 7.85% over the forecast period (2021-2026).

The Global Hospitality Property Management Software (PMS) market is highly competitive and consists of a number of major players. Companies like Micros Systems. Inc. (Oracle), Agilsys, Inc., Infor Inc., Cenium AS, Realpage, Inc., FCS Computer Systems, Hoteliga International S.p. z.o.o, Console Group Amongst Others.

Key Developments:

- August 2019- Mews Systems a startup developing software for property management solutions for hotels and hostels raised a funding of USD 33 million from Battery Ventures. The value of Mews Systems has reached USD 40 million, with this funding, the company has planned to open a new office in New York City.
- April 2019- Infor announced the acquisition of ReServe Interactive from California, which provides cloud-based sales and catering, restaurant reservations, and floor management software that serves the restaurant, sports and entertainment, event center, golf and country club, and hotel markets in the U.S. and Canada.

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Scope of the Report:

The PMS software helps the hotel to effectively manage, organize, and schedule their mundane activities including front office workflow, guest check-in & checkout, assigning rooms to guests, delegating housekeeping tasks and billing, etc. In short, PMS automates and streamlines the operations to save working hours and offer a better experience to guests.
- The hospitality industry is witnessing growth from technology disruption due to increasing online travel agencies and hotel aggregators. These companies are rapidly adopting cloud-based solutions like PMS and other SaaS platforms to scale their growths in the industry. The rise in the number of SME hotels especially in the emerging markets like Asia-pacific is driving the deployment of property management software market.
- Additionally, the hotels are increasingly concentrating on optimizing their operations to reduce lead time. As these solutions are inexpensive, the adoption rate has increased in recent years. These companies in the industry are also emphasizing on analytics of their serviceability to gain more insights which enable scope for improvement in their operations.

Key Market Trends:

On-Cloud Deployment of PMS to Grow Significantly

- According to the report from NASSCOM, global cloud spending is expected to reach USD 187 billion in 2018, and further grow at a CAGR of 16.5% till 2022. Also, the global public cloud spending accounted for 7.9% of total IT spending in 2018 globally. Hotels are also increasingly adopting cloud-based SaaS to integrate into their operations in order to achieve optimized workflow.
- Cost-effective nature of storage facility compared to the conventional method is one of the reasons for maximum adoption rates, cloud deployment method saves IT infrastructure expenses and provides easy scalability; according to RightScale, In 2018, public cloud adoption reached 92% which was 89% the year before.
- Dalata Hotel Group has mentioned that integrating PMS in their hotel chain helped them to standardize their report and analyze their revenue from customers at various locations at a time. As the company is undergoing expansion across Europe and managing multiple PMS was difficult for them to train staff and reporting methods, they adopted on-cloud solution.

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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: Global Hospitality Property Management Software (PMS) 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 analyze the growth of the key players operating in the market.

Finally, Global Hospitality Property Management Software (PMS) Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

Key points in this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

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