Hotel Management Software Market set to reach $5.9 Bn in revenues by 2032 ; At 5.9% CAGR

Allied Market Research published a report, titled, "Hotel Management Software Market by Type (Hotel Operation Management System, Integrated Security System, Hotel Building Automation System, Guest Service Management System and Integrated Communication Technology Solutions), Hotel Type (Business Hotels, Heritage and Boutique Hotels and Resorts and Spas), and Deployment Mode (On-Premise and Cloud): Global Opportunity Analysis and Industry Forecast, 2024-2032".

According to the report, the hotel management software market was valued at $3.5 billion in 2023, and is estimated to reach $5.9 billion by 2032, growing at a CAGR of 5.9% from 2024 to 2032. A surge in trend toward hotel management software adoption and ongoing strategies for innovative investments in developing countries offers remunerative opportunities for the expansion of the global hotel management software market.

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The business hotels segment contributed a major share in the growth of the hotel management software market

Based on hotel type, the business hotels segment held the highest market share in 2023, accounting for nearly half of the global hotel management software market revenue, and is likely to retain its dominance throughout the forecast period. The demand for hotel management software is driven by the growing need to minimize expenditure and operational costs in hotels. Further, the other benefit of using the software is that it reduces the dependency on manual processes thereby, positively influencing the hotel management software market growth.

The hotel operation management system segment is expected to retain its dominance throughout the forecast period

Based on type, the hotel operation management system segment held the highest market share in 2023, accounting for nearly one-third of the global hotel management software market revenue, and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that the hotels are constantly seeking ways to streamline operations, reduce costs, and maximize revenue. In addition, hotel operation management system offers features like centralized reservations, automated housekeeping management, and real-time data analysis, which helps achieve these goals.

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The on-premise segment held the highest market share in 2023

Based on deployment mode, the on-premise segment held the highest market share in 2023, accounting for three-fifths of the global hotel management software market revenue, and is likely to retain its dominance throughout the forecast period. The on-premise systems offered perceived greater control over data security. In addition, legacy hotels with specific needs might have preferred the ability to customize on-premise software to their exact workflows.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2023, accounting for half of the global hotel management software market revenue, and is expected to dominate in terms of revenue throughout the forecast timeframe. The aging population in North America, particularly the baby boomer generation, is a significant driver for the hotel management software market.

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Major Players: -

Oracle
Infor
Protel Hotelsoftware
Sabre
ASSD
Delta Software
eZee FrontDesk
Cloudbeds
Guestline Ltd
NEC Corporation

The report provides a detailed analysis of these key players in the global hotel management software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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