Smart Hospitality Market Forecasts to 2028 – Global Analysis By Type (Service, Software, Hardware), Deployment Model (On-Demand, On-Premises), and By Geography
According to Stratistics MRC, the Global Smart Hospitality Market is accounted for $13.44 billion in 2020 and is expected to reach $73.68 billion by 2028 growing at a CAGR of 23.7% during the forecast period. Some of the key factors propelling the market growth include rising need for instantaneous and enhanced guest experience management, increasing adoption of IoT and energy management systems, and advanced technological developments. However, lack of technically skilled personnel or IT department is likely to hamper the market.
Hospitality refers to the integration of technology such as automated software and smart solutions for hospitality. It enables hotels to enhance their guest experience and increase revenue with digital In-room entertainment systems. It is widely used in hotels & cruises. It provides HD free-to-guest channels, Interactive TV, IPTV services and Wi-Fi for hotels. It helps to reduce the cost and also improves the efficiency of staff and gives a unique experience to the guest so which they want to come again.
By type, the guest service management system segment is anticipated to grow at a significant rate during the forecast period, due to the increase in digitization across the globe. The smart solutions enable the administrator to manage the guest room by automating the lights, temperature, curtains, and other indoor components while monitoring the security & safety infrastructure and overseeing the outdoor components, such as water supervision, parking premises, waste supervision, inventory, and network infrastructure.
On the basis of geography, Europe region is expected to have considerable market growth during the forecast period, owing to the technological advancements, rising tourism industry in the region, robust internet infrastructure, and inclination towards IoT.
Some of the key players in Smart Hospitality Market include Cisco Systems, Inc., NEC Corporation, Siemens AG, Johnson Controls, CONTROL4 Corporation, Honeywell International, Oracle Corporation, Samsung, Schneider Electric, Qualsoft Systems Pvt. Ltd., Huawei Technologies, Infor, Inc., IBM Corporation, Winhotel Solution SL, Buildingiq Inc., Mitel Networks Corp., Peach Technologies Ltd, and Blazon Hotels.
Deployment Models Covered:
Hotel Types Covered:
• Commercial Heritage
• Business Hotel
• Resorts and Spas
• Boutique Hotel
• Bring Your Own Device (BYOD) for Customers
• Smart Display
• Property Management Systems (PMS) Connectivity
• Virtualization & Hosted Delivery
• Luxury Yachts
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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