Smart Hospitality Management Market 2019 | Industry Trends, Technological Advancements, Market Dynamics, Business Overview, Competitive Landscape Analysis and Segmental Analysis By 2026 | Siemens AG (Germany), Winhotel Solutions (Spain), Oracle Corporatio

Smart Hospitality Management Market

The smart hospitality management market is expected to reach a value of USD 29.11 Billion by 2026, registering a CAGR of 14.4% during the forecast period.
The incorporation of advanced technologies and IT has been transforming the hospitality industry. Smart hospitality is the process through which hotels have been transforming their infrastructure through the installation of smart solutions to enhance their offerings and offer better and quality services to guests and clients. Smart hospitality management helps improve the operational efficiency of hotels and enhances guest loyalty. The goal of smart hospitality management is personalization of experiences and digitalization of services. The increasing usage of smart and IoT, AI, and voice activation/recognition applications in the hospitality sector, rising demand for real-time optimized guest experience management and lower operational costs are among the key factors driving the growth of the smart hospitality management market.

The incorporation of internet of thing (IoT), AI, and voice activation/recognition in the hospitality industry qualifies hotels as smart buildings, which form a key aspect of smart cities. For instance, a survey conducted by Oracle Corporation “Hotel 2025” estimated that 78% of hotel operators said voice-activated controls for lights, air conditioning, and room devices would be mainstream or in mass adoption by 2025. Further, 59% said using a voice-activated device to control room lighting/temperature would enhance guest experience.

Growing domestic and international tourism is another key factor driving market growth. The Center for Hospitality Research (CHR) estimated that millennials (those ages 18-34) are expected to represent 50% of all travelers to the U.S. by 2025. The smart hospitality management market is expected to grow against the backdrop of early adoption of technology. Revenue generated from accommodation, food and beverage, and other services availed by travelers is propelling the growth of the hospitality industry, and in turn, driving the growth of the smart hospitality management market.

The on-demand deployment model is anticipated to grow with the highest CAGR as it helps to reduce the cost associated with purchasing, servicing, and powering server-class machines. The business hotel segment is projected to hold the largest market share in the smart hospitality management market, as many business hotels are deploying building automation services and technology-enabled services to offer premium services to their customers.

North America currently accounts for the largest market share in the smart hospitality management market, with technological advancements and adoption of Internet of Things (IoT) in the hospitality industry. Other advancements such as smartphones, smart appliances, and social media have also been positively impacting the smart hospitality management market.

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The Major Prominent Players Covered in this Report:
Siemens AG (Germany), Winhotel Solutions (Spain), Oracle Corporation (U.S BuildingIQ (California, U.S.), Cisco Systems, Inc. (U.S.), Huawei Technologies (China), Infor, Inc. (U.S.), Oracle Corporation (U.S.), NEC Corporation (Japan), Honeywell International (U.S.), IBM Corporation (U.S.), Johnson Controls (U.S.), and Schneider Electric (France) are some of the operating in the smart hospitality management market. & More.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

By Service
Professional Service
Managed Service

By Deployment Model
On-Premises
On-Demand

By Hotel Type
Business Hotel
Resorts & Spas
Heritage and Boutique Hotel
Others

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2026, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Smart Hospitality Management Market Trends:
- The report identifies, determines, and forecasts the Global Smart Hospitality Management Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Smart Hospitality Management Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Smart Hospitality Management Market.

Key Questions Answered in The Report:
What will the Smart Hospitality Management market growth rate?
What are the key factors driving the global Smart Hospitality Management market?
Who are the key manufacturers in the Smart Hospitality Management market space?
What are the market opportunities, market risk, and market overview of the Smart Hospitality Management market?
What are sales, revenue, and price analysis of top manufacturers of the Smart Hospitality Management market?
Who are the distributors, traders, and dealers of the Smart Hospitality Management market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Smart Hospitality Management Industry?
What are sales, revenue, and price analysis by regions of the Smart Hospitality Management industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Why Buy This Report?
The hospitality industry is highly competitive, which drives the search for new ways and elements of efficient performance. Advanced technologies such as AI, driverless transportation, and biometrics and facial recognition, which were earlier somewhat restricted to the consumer market, are now making a foray in the hospitality industry.

In March 2018, Schneider Electric, Danfoss and Somfy announced a partnership to develop a Connectivity Ecosystem that aims to accelerate connectivity adoption in residential, mid-size building and hotel markets.

In June 2018, Honeywell launched a suite of next-generation energy management software, voice controls, secure cloud communication systems, and smart lighting at HITEC 2018 in Houston, Texas.

With the help of latest technologies, hoteliers have an opportunity to increase guest satisfaction and their bottom line. With latest innovations in voice and service consolidation entering the mainstream, the hospitality industry is on the verge of a transformation that will fundamentally redefine what it means to offer a truly exceptional guest experience. Moreover, the following sections have been specifically covered in the report.

Definitive Market Data
Smart Hospitality Management Market Analysis
Competitive Analysis
Recent Opportunities in the Market
6-7-Year Performance Forecasts: Major Segments by Application, Type and Geography
Market Share Analysis
Technology Assessment
Potential Venture Avenues

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