Press release
Smart Hospitality Market is Estimated to Reach USD 94.47 Billion By 2030: Cognitive Market Research
Smart Hospitality Market is Estimated to Reach USD 94.47 Billion By 2030: Cognitive Market Research
- Smart hospitality uses internet-connected devices that are able to communicate or interact with each other. Smart hospitality refers to the use of advanced technology and data-driven insights to improve the guest experience, optimize operations and increase efficiency in the hospitality industry. This may include the use of devices and systems such as smart room automation, mobile apps, chatbots, artificial intelligence (AI), the Internet of Things (IoT), and data analytics.
Summary:
• Global Smart Hospitality Market Size Was Valued at USD 16.92 Billion In 2023 And Is Expected to Grow at a CAGR Of 23.98% During the Forecast Period, Reaching USD 94.47 Billion By 2030 - Exclusive Report by Cognitive Market Research
• Increasing adoption of smart room technology from renowned hotel brands along with the improved level of personalization is the major driving factor for the growth of the smart hospitality market.
• North America is accounted for the largest share of the smart hospitality market.
To know more The Smart Hospitality Market statistics click here: https://www.cognitivemarketresearch.com/smart-hospitality-market-report
Market Dynamics:
- Increasing adoption of smart room technology from renowned hotel brands along with the improved level of personalization is the main driving factor contributing to the growth of the global smart hospitality market during the forecast period. For example, a growing number of hotel companies, including the likes of Hilton and Marriott are implementing the concept of the smart hotel room to deliver better personalization. Additionally, the recent introduction of disruptive technologies such as artificial intelligence and IoT with the aim of improving management, efficiency, and control from hotel management has driven market growth over the forecast period.
However, data breaches and privacy concerns related to the hotel's digital infrastructure may obstruct the growth of the global smart hospitality market in near future. Further, the rapid development of various advanced technologies such as automation, and data analytics is expected to create great opportunities for the smart hospitality market during the forecast period. In the upcoming years, hotels may use contactless technologies such as facial recognition, mobile keys, and voice-activated controls to enhance the overall guest experience.
Global smart hospitality market segmentation:
- Type
• Software
• Services
- Hotel Type
• Business Hotels
• Heritage & Boutique Hotels
• Resorts & Spas
- Deployment Mode
• On-premise
• Cloud
On-premise held the major revenue share in terms of deployment mode
- On-premise segment acquired the revenue share in terms of deployment mode due to it offering advantages over cloud mode such as a significant reduction in cost and improve efficiency. On-premise smart hospitality refers to the use of advanced technology and data-driven insights to optimize operations and improve the guest experience within a physical location such as a hotel.
- Application
• Hotels
• Cruises
• Luxury Yachts
Hotels held the major revenue share in terms of application
- Hotels held significant growth in terms of application, as hotels are one of the key players in the smart hospitality trend, and many are using advanced technology and data-driven insights to optimize operations and improve the guest experience.
Competitive Analysis for Smart Hospitality Market:
Schneider Electric (Rueil-Malmaison, France), Siemens (Munich, Germany), IBM Corporation (New York, U.S.), BuildingIQ (California, U.S), Honeywell International (New Jersey, U.S.), Winhotel Solutions (Balearic Islands, Spain), Cisco Systems (San Jose, U.S.), Oracle Corporation (California, U.S.), Huawei Technologies (Shenzhen, China), Johnson Controls (Wisconsin, U.S.), NEC Corporation (Tokyo, Japan), Infor (New York, U.S.).
Get free sample pages of latest published Smart Hospitality Market Report: https://www.cognitivemarketresearch.com/smart-hospitality-market-report
North America dominated the smart hospitality market during the forecast period.
- North America accounted for relatively the largest share of the smart hospitality market during the forecast period. The growth of the market is significantly growing in the region due to the rapid expansion of the tourism industry and an increased trend toward technological sophistication. Moreover, increasing integration of new contactless technologies to facilitate and delight guests is becoming frequent in hotels around the US.
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Smart Hospitality Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Smart Hospitality Market Segmentation
1.5.1 Smart Hospitality Market Regional Fragmentation
1.5.1 Smart Hospitality Market Players
• 1.6 Report Duration
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Smart Hospitality Market
• 3.1 Global Smart Hospitality Market Size 2018 - 2030, (USD Million)
• 3.2 Global Smart Hospitality Market Statistics 2022: Snapshot
Chapter 4 Global Smart Hospitality Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Smart Hospitality Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Smart Hospitality Market by Hotel Type Segmentation Analysis (2018-2030)
Chapter 10 Global Smart Hospitality Market by Deployment Mode Segmentation Analysis (2018-2030)
Chapter 11 Global Smart Hospitality Market by Application Segmentation Analysis (2018-2030)
Chapter 12 Global Smart Hospitality Market Regional Analysis
Chapter 13 North America Smart Hospitality Market Outlook (2018 - 2030)
Chapter 14 Europe Smart Hospitality Market Outlook (2018 - 2030)
Chapter 15 Asia Pacific Smart Hospitality Market Outlook (2018 - 2030)
Chapter 16 Latin America Smart Hospitality Market Outlook (2018 - 2030)
Chapter 17 Middle East and Africa Smart Hospitality Market Outlook (2018 - 2030)
Chapter 18 Research Findings
To know more Smart Hospitality Market TOC click here: https://www.cognitivemarketresearch.com/smart-hospitality-market-report#table_of_contents
Related report:
• Hospitality management software market- https://www.cognitivemarketresearch.com/hospitality-management-software-market-report
• Smart home market- https://www.cognitivemarketresearch.com/smart-home-market-report
• Smart speaker market- https://www.cognitivemarketresearch.com/smart-speaker-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Illinois, 60602
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About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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