Smart Hospitality Market is expected to reach US$ 18.12Bn by 2026 at a CAGR of 25.5% during the forecast period. Smart hospitality enables hotels to increase revenue with digital In-room entertainment systems and enhance their guest experience. Astute Hospitality provides HD free-to-guest channels, IPTV services, Interactive TV, and Wi-Fi for hotels.
The growing demand for authentic-time optimized guest experience management, incrementing adoption of Internet of Things (IoT), low operational costs and luring revenue generation, and energy management systems are some driving factors expected to propel the perspicacious hospitality market. High initial cost of deployment and integration involution over legacy systems are some restraining factors would obstruct the magnification of the perspicacious hospitality market.
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The hotel building automation system is expected to have larger smart hospitality market share during the forecast period, as building automation for facility & emergency response management, water management, parking management and building energy optimization are now being widely adopted in the hospitality sector.
Based on hotel type, Business hotels are expected to have large market size during the forecast period, as business hotels provide their guests with unified communication capabilities that enable the guests to conduct conferences, meetings and connect to associates around the world. Thus many tour groups and small conference groups find these hotels attractive.
While utilizing the deployment model, keenly intellective hospitality market is relegated into an on-demand deployment model and on-premises deployment model. Among these, the on-demand deployment model is expected to reach at the highest CAGR during the forecast period, as it enables hotels to deploy accommodations and software in a virtual environment.
Among software’s, the Guest accommodation management system is liable to reach at the highest CAGR during the forecast period. The growing demand for automated authentic-time optimized guest accommodations and the elevate of hyper-urbanization and demographic magnification are estimated to drive the adoption of perspicacious hospitality solutions across sundry hotel types
As per the geographic analysis, smart hospitality market is divided into North America, Asia Pacific, Europe, and Latin America and the Middle East and Africa. Among these, Europe is likely to hold the largest smart hospitality market share during the forecast period, as Europe is likely to benefit from robust internet infrastructure, technological advancements, and widespread adoption of new technologies.
Key Players Profiled and Analysed in the report
BuildingIQ, Honeywell International, Winhotel Solutions, Cisco Systems, Inc., Oracle Corporation, Huawei Technologies etc.
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The scope of the Smart Hospitality Market report
Smart Hospitality Market, by Software
• Hotel operation management system
• Staff mobility and workforce management
• Inventory and logistics management
• Revenue management
• Integrated security system
• Video surveillance system
• Access control system
• Emergency incident management system
• Hotel building automation system
• Energy management platforms
• Facility management system
• Guest service management system
• Centralized reservation system
• Room automation and control system
• Guest experience management system
• Integrated communication technology solutions
• Network management system
• Unified communications and collaboration
• Mobile device management
Smart Hospitality Market, by Service
• Professional service
• Consulting service
• System integration and deployment
• Support and maintenance
• Managed service
Smart Hospitality Market, by Hotel Type
• Business hotel
• Heritage and boutique hotel
• Resorts and spas
Smart Hospitality Market, by Deployment Model
Smart Hospitality Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Key Players of Smart Hospitality Market
Cisco Systems, Inc.
MAJOR TOC OF THE REPORT
Chapter One: Smart Hospitality Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Smart Hospitality Market Competition, by Players
Chapter Four: Global Smart Hospitality Market Size by Regions
Chapter Five: North America Smart Hospitality Revenue by Countries
Chapter Six: Europe Smart Hospitality Revenue by Countries
Chapter Seven: Asia-Pacific Smart Hospitality Revenue by Countries
Chapter Eight: South America Smart Hospitality Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Smart Hospitality by Countries
Chapter Ten: Global Smart Hospitality Market Segment by Type
Chapter Eleven: Global Smart Hospitality Market Segment by Application
Chapter Twelve: Global Smart Hospitality Market Size Forecast (2019-2026)
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