Smart Hospitality Market Size, Company Revenue Share, Key Drivers & Trend Analysis, 2022–2027

Smart Hospitality Market

The global smart hospitality market is forecast to reach USD 44.38 Billion by 2026, according to a new report by Reports and Data. Automation has been a topic of much interest in the hospitality industry over the past few years. Automation solutions can enhance the in-room experience of hotel guests and improve the energy and operational efficiency of the hotel, which will, in turn, be beneficial for the brand loyalty. The automation system in these hotels not only provides luxurious guest experience, but it is also helpful for operational activities like energy savings, centralized management, and asset maintenance, among others. Security is a major concern in the hotel business. Safety in building can be ensured with RFID cards with security codes. With the help of alarms, the security level can be enhanced by sending signals instantly to the monitoring computer. Remote Management of Rooms is another significant advantage of this type of hospitality. Many smart hotels are developing apps that allow guests to use their smartphones to effortlessly control lighting, door locks, HVAC, entertainment, and window shades irrespective of their location in the hotel rooms or outside. These remote monitoring features are also advantageous for hotel staff wherein; they can remotely change temperature settings or turn lights off in a room after guests check out. This technology is also useful in reducing downtime and expect maintenance needs. Thus the presence of these benefits are supporting the growth of the market. In context to region, North America can be seen to occupy a prominent market position. The market share held by North America is resultant of the presence of several technology support providers and the presence of advanced techniques.

The Smart Hospitality market research report is broadly bifurcated in terms of product type, application spectrum, end-user landscape, and competitive backdrop, which would help readers gain more impactful insights into the different aspects of the market. Under the competitive outlook, the report’s authors have analyzed the financial standing of the leading companies operating across this industry. The gross profits, revenue shares, sales volume, manufacturing costs, and the individual growth rates of these companies have also been ascertained in this section. Our team has accurately predicted the future market scope of the new entrants and established competitors using several analytical tools, such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.

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Geographical Scenario:

The global Smart Hospitality market report comprehensively studies the present growth prospects and challenges for the key regions of the Smart Hospitality market. The report continues to evaluate the revenue shares of these regions over the forecast timeline. It further scrutinizes the year-on-year growth rate of these regions over the projected years. The leading regions encompassed in this report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Leading Players Profiled in the Report Include: Huawei Technologies Co.Ltd, NEC Corporation, IBM Corporation, Siemens AG, Schneider Electric Se, Honeywell International, Inc., Johnson Controls, Oracle Corporation, Winhotel Solution S.L., and Infor, Inc.

Service Type Outlook (Revenue, USD Billion; 2022-2026)

  • Managed Services
  • Professional Services

Software Type Outlook (Revenue, USD Billion; 2022-2026)

  • Integrated Security System
  • Hotel Operation Management System
  • Hotel Building Automation System
  • Integrated Communication Technology Solutions
  • Guest Service Management System

Deployment Model Type Outlook (Revenue, USD Billion; 2022-2026)

  • On-Demand
  • On-Premises

End-User Type Outlook (Revenue, USD Billion; 2022-2026)

  • Heritage and Boutique Hotels
  • Business Hotels
  • Resorts and Spas
  • Others

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Key Coverage of the Report:

  • Detailed scrutiny of the latest market trends, including drivers, opportunities, threats, constraints, challenges, and future investment prospects
  • Market segmentation by deployment type, authentication type, component, organization size, industry vertical
  • Regional and country-wise market size estimation for the forecast period (2019-2027)
  • Pricing strategies of the regional market players
  • Demand & supply gap analysis
  • Competitive landscape analysis
  • Market share analysis of the top market players
  • Strategic recommendations for new market entrants
  • Company profiling of the leading market players
  • Brief summary of the key strategies, financial positions, and recent developments of the leading companies

The report considers the following timeline for market estimation:

  • Historical Years: 2017-2018
  • Base Year: 2019
  • Estimated Year: 2027
  • Forecast Years: 2017-2027

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