HOME Top Market Reports Smart Hospitality Market by Software (Hotel Operation Management System, Hotel Building Automation System), Service (Professional, Managed), Hotel Type (Business, Heritage & Boutique, Resorts & Spas), Deployment Model, and Region - Global Forecast to 2021

Smart Hospitality Market by Software (Hotel Operation Management System, Hotel Building Automation System), Service (Professional, Managed), Hotel Type (Business, Heritage & Boutique, Resorts & Spas), Deployment Model, and Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: January 2017
Report Code: TC 4911

 

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The smart hospitality market is estimated to grow from USD 5.74 Billion in 2016 to USD 18.11 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.8%. The base year considered for the study is 2015 and the market size forecast is from 2016 to 2021.

Objectives of the study:

  • To define, describe, and forecast the smart hospitality market on the basis of five regions, namely, North America; Europe; Asia-Pacific (APAC); Middle East and Africa (MEA); and Latin America.
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
  • To strategically analyze each subsegment with respect to individual growth trends, future prospects, and contributions to the total market.
  • To analyze the opportunities in the market for stakeholders by identifying high-growth segments of the smart hospitality market.
  • To strategically profile key players of the market and comprehensively analyze their core competencies in the market.
  • To track and analyze competitive developments, such as new product launches; mergers & acquisitions; and partnerships, agreements, and collaborations in the global market.

The research methodology used to estimate and forecast the smart hospitality market begins with capturing data on key vendor revenues and the market size of the individual segments through secondary sources, such as EEE robotics & automation society, Continental Automated Buildings Association (CABA), American Hotel & Lodging Association (AH&LA), International Hotel & Restaurant Association (IHRA), and British Hospitality Association (BHA). The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global smart hospitality market from the individual technology segment. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key industry personnel, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary discussion participants is depicted in the figure below:

Smart Hospitality Market

To know about the assumptions considered for the study, download the pdf brochure

The smart hospitality ecosystem includes technology vendors, such as Schneider Electric (Rueil-Malmaison, France), Siemens AG (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, Inc. (San Jose, U.S.), Oracle Corporation (California, U.S.), Huawei Technologies (Shenzhen, China), Johnson Controls (Wisconsin, U.S.), NEC Corporation (Tokyo, Japan), and Infor, Inc. (New York, U.S.), which provide numerous IT and non-IT components required for smart hospitality software as well as assessment, consulting, system integration, and support services to smart hospitality platform.

Key Target Audience

  • System design and development vendors
  • System integrators/migration service providers
  • Consultants/consultancies/advisory firms
  • Support and maintenance service providers
  • Network service providers
  • Smart hospitality product and solution provider companies
  • Academic and research institutes
  • Government associations

Scope of the Report

The research report categorizes the smart hospitality market to forecast the revenues and analyze the trends in each of the following subsegments:

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

By Service

  • Professional service
  • Consulting service
  • System integration and deployment
  • Support and maintenance
  • Managed service

By Hotel Type

  • Business hotel
  • Heritage and boutique hotel
  • Resorts and spas
  • Others

By Deployment Model

  • On-premises
  • On-demand

By Region

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customization as per the company’s specific requirements. The following customization options are available for the report:

Geographic Analysis

  • Further country level breakdown of the North American smart hospitality market
  • Further country level breakdown of the European market
  • Further country level breakdown of the APAC market
  • Further country level breakdown of the MEA market
  • Further country level breakdown of the Latin American market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions and Limitations
           2.4.1 Assumptions
           2.4.2 Limitations
    2.5 Vendor Analysis Methodology

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Market Opportunities in the Market
    4.2 Smart Hospitality Market, By Region 2016 vs 2021
    4.3 Global Market By Software and Region, 2016
    4.4 Lifecycle Analysis, By Region

5 Market Overview (Page No. - 37)
    5.1 Market Segmentation
           5.1.1 By Software
           5.1.2 By Service
           5.1.3 By Hotel Type
           5.1.4 By Deployment Model
           5.1.5 By Region
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Demand for Real-Time Optimized Guest Experience Management
                    5.2.1.2 Attractive Revenue Growth and Low Operational Costs
                    5.2.1.3 Increasing Adoption of Iot and Energy Management Systems
           5.2.2 Restraints
                    5.2.2.1 High Initial Cost of Deployment
                    5.2.2.2 Integration Complexities Over Legacy Systems and Networks
                    5.2.2.3 Limited Availability of Technically-Skilled Personnel
           5.2.3 Opportunities
                    5.2.3.1 Evolving Cloud-Based Iot Platforms
                    5.2.3.2 Untapped Concept of Byod Applications Within the Hospitality Industry
           5.2.4 Challenges
                    5.2.4.1 Integration of Real-Time Streaming Analytics Capabilities Into Smart Solutions
                    5.2.4.2 Lack of Information and Communication Technology Infrastructure and Interoperability

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Technology Roadmap
    6.3 Value Chain Analysis
    6.4 Strategic Benchmarking
    6.5 Vendor Portfolio Analysis

7 Smart Hospitality Market Analysis, By Type (Page No. - 50)
    7.1 Introduction
    7.2 Smart Hospitality Market Analysis, By Software
           7.2.1 Hotel Operation Management System
                    7.2.1.1 Staff Mobility and Workforce Management
                    7.2.1.2 Inventory and Logistics Management
                    7.2.1.3 Revenue Management
           7.2.2 Integrated Security System
                    7.2.2.1 Video Surveillance System
                    7.2.2.2 Access Control System
                    7.2.2.3 Emergency Incident Management System
           7.2.3 Hotel Building Automation System
                    7.2.3.1 Energy Management Platforms
                    7.2.3.2 Facility Management System
           7.2.4 Guest Service Management System
                    7.2.4.1 Centralized Reservation System
                    7.2.4.2 Room Automation and Control System
                    7.2.4.3 Guest Experience Management System
           7.2.5 Integrated Communication Technology Solutions
                    7.2.5.1 Network Management System
                    7.2.5.2 Unified Communications and Collaboration
                    7.2.5.3 Mobile Device Management System
    7.3 Smart Hospitality Market Analysis, By Service
           7.3.1 Professional Services
                    7.3.1.1 Consulting Services
                    7.3.1.2 Deployment and Integration
                    7.3.1.3 Support and Maintenance
           7.3.2 Managed Services

8 Smart Hospitality Market Analysis, By Hotel Type (Page No. - 76)
    8.1 Introduction
    8.2 Business Hotels
    8.3 Heritage and Boutique Hotels
    8.4 Resorts and Spas
    8.5 Others

9 Smart Hospitality Market Analysis, By Deployment Model (Page No. - 82)
    9.1 Introduction
    9.2 On-Premises
    9.3 On-Demand

10 Smart Hospitality Market Analysis, By Region (Page No. - 86)
     10.1 Introduction
     10.2 North America
     10.3 Europe
     10.4 Asia-Pacific
     10.5 Middle East and Africa
     10.6 Latin America

11 Competitive Landscape (Page No. - 114)
     11.1 Overview
     11.2 Competitive Situations and Trends
     11.3 New Product Launches
             11.3.1 New Product Launches, 2015–2016
     11.4 Partnerships, Agreements, and Collaborations
             11.4.1 Partnerships, Contracts, Agreements,  and Collaborations, 2016
     11.5 Mergers and Acquisitions
             11.5.1 Mergers and Acquisitions, 2012–2016
     11.6 Expansions
             11.6.1 Expansions, 2014–2015
     11.7 Vendor Analysis

12 Company Profiles (Page No. - 122)
     12.1 Introduction
(Overview, Financials, Products & Services, Strategy, and Developments)*
     12.2 NEC Corporation
     12.3 Huawei Technologies Co.Ltd
     12.4 IBM Corporation
     12.5 Cisco Systems, Inc.
     12.6 Schneider Electric Se
     12.7 Siemens AG
     12.8 Johnson Controls
     12.9 Honeywell International, Inc.
     12.10 Winhotel Solution S.L.
     12.11 Oracle Corporation
     12.12 Buildingiq Inc.
     12.13 Infor, Inc.

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

13 Key Innovators (Page No. - 157)
     13.1 Control4
             13.1.1 Business Overview
     13.2 Mitel Networks Corporation
             13.2.1 Business Overview
     13.3 Smartodom Automation
             13.3.1 Business Overview
     13.4 Springer-Miller Systems
             13.4.1 Business Overview
     13.5 Sabre Corporation
             13.5.1 Business Overview

14 Appendix (Page No. - 162)
     14.1 Other Developments
             14.1.1 New Product Launches
             14.1.2 Partnerships, Agreements, and Collabrations
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introduction RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports
     14.7 Author Details


List of Tables (102 Tables)

Table 1 Global Smart Hospitality Market Size, By Type, 2014–2021 (USD Million)
Table 2 Global Market Size, By Type, 2014–2021 (USD Million)
Table 3 Software: Market Size, By Software, 2014–2021 (USD Million)
Table 4 Software: Market Size, By Region, 2014–2021 (USD Million)
Table 5 Hotel Operation Management System: Market Size, By Type, 2014–2021 (USD Million)
Table 6 Hotel Operation Management System: Market Size, By Region, 2014–2021 (USD Million)
Table 7 Staff Mobility and Workforce Management Market Size, By Region, 2014–2021 (USD Million)
Table 8 Inventory and Logistics Management Market Size, By Region, 2014–2021 (USD Million)
Table 9 Revenue Management Market Size, By Region, 2014–2021 (USD Million)
Table 10 Integrated Security System: Smart Hospitality Market Size, By Type, 2014–2021 (USD Million)
Table 11 Integrated Security System: Market Size, By Region, 2014–2021 (USD Million)
Table 12 Video Surveillance System Market Size, By Region, 2014–2021 (USD Million)
Table 13 Access Control System Market Size, By Region, 2014–2021 (USD Million)
Table 14 Emergency Incident Management System Market Size, By Region, 2014–2021 (USD Million)
Table 15 Hotel Building Automation System: Market Size, By Type, 2014–2021 (USD Million)
Table 16 Hotel Building Automation System: Market Size, By Region, 2014–2021 (USD Million)
Table 17 Energy Management Platforms Market Size, By Region, 2014–2021 (USD Million)
Table 18 Facility Management System Market Size, By Region, 2014–2021 (USD Million)
Table 19 Guest Service Management System: Market Size, By Type, 2014–2021 (USD Million)
Table 20 Guest Service Management System: Market Size, By Region, 2014–2021 (USD Million)
Table 21 Centralized Reservation System Market Size, By Region, 2014–2021 (USD Million)
Table 22 Room Automation and Control System Market Size, By Region, 2014–2021 (USD Million)
Table 23 Guest Experience Management System Market Size, By Region, 2014–2021 (USD Million)
Table 24 Integrated Communication Technology Solutions: Market Size, By Type, 2014–2021 (USD Million)
Table 25 Integrated Communication Technology Solutions: Market Size, By Region, 2014–2021 (USD Million)
Table 26 Network Management System Market Size, By Region, 2014–2021 (USD Million)
Table 27 Unified Communications and Collaboration Market Size, By Region, 2014–2021 (USD Million)
Table 28 Mobile Device Management System Market Size, By Region, 2014–2021 (USD Million)
Table 29 Services: Smart Hospitality Market Size, By Type, 2014–2021 (USD Million)
Table 30 Services: Market Size, By Region, 2014–2021 (USD Million)
Table 31 Professional Services: Market Size, By Type, 2014–2021 (USD Million)
Table 32 Professional Services: Market Size, By Region, 2014–2021 (USD Million)
Table 33 Consulting Services Market Size, By Region, 2014–2021 (USD Million)
Table 34 Deployment and Integration Market Size, By Region, 2014–2021 (USD Million)
Table 35 Support and Maintenance Services Market Size, By Region, 2014–2021 (USD Million)
Table 36 Managed Services: Market Size, By Region, 2014–2021 (USD Million)
Table 37 Hotel Type: Market Size, Byhotel Type, 2014–2021 (USD Million)
Table 38 Hotel Type: Market Size, By Region, 2014–2021 (USD Million)
Table 39 Business Hotels: Market Size, By Region, 2014–2021 (USD Million)
Table 40 Heritage and Boutique Hotels: Market Size, By Region, 2014–2021 (USD Million)
Table 41 Resorts and Spas: Market Size, By Region, 2014–2021 (USD Million)
Table 42 Others: Smart Hospitality Market Size, By Region, 2014–2021 (USD Million)
Table 43 Deployment Model: Market Size, By Type, 2014–2021 (USD Million)
Table 44 Deployment Model: Market Size, By Region, 2014–2021 (USD Million)
Table 45 On-Premises: Market Size, By Region, 2014–2021 (USD Million)
Table 46 On-Demand: Market Size, By Region, 2014–2021 (USD Million)
Table 47 Smart Hospitality Market Size, By Region, 2014–2021 (USD Million)
Table 48 North America: Market Size, By Type, 2014–2021 (USD Million)
Table 49 North America: Market Size, By Software, 2014–2021 (USD Million)
Table 50 North America: Market Size, By Hotel Operation Management, 2014–2021 (USD Million)
Table 51 North America: Market Size, By Integrated Security System, 2014–2021 (USD Million)
Table 52 North America: Market Size, By Hotel Building Automation System, 2014–2021 (USD Million)
Table 53 North America: Market Size, By Guest Service Management System, 2014–2021 (USD Million)
Table 54 North America: Market Size, By Integrated Communication Technology Solution, 2014–2021 (USD Million)
Table 55 North America: Market Size, By Service, 2014–2021 (USD Million)
Table 56 North America: Market Size, By Professional Service, 2014–2021 (USD Million)
Table 57 North America: Market Size, By Hotel Type, 2014–2021 (USD Million)
Table 58 North America: Market Size, By Deployment Model, 2014–2021 (USD Million)
Table 59 Europe: Smart Hospitality Market Size, By Type, 2014–2021 (USD Million)
Table 60 Europe: Market Size, By Software, 2014–2021 (USD Million)
Table 61 Europe: Market Size, By Hotel Operation Management System, 2014–2021 (USD Million)
Table 62 Europe: Market Size, By Integrated Security System, 2014–2021 (USD Million)
Table 63 Europe: Market Size, By Hotel Building Automation System, 2014–2021 (USD Million)
Table 64 Europe: Market Size, By Guest Service Management System, 2014–2021 (USD Million)
Table 65 Europe: Market Size, By Integrated Communication Technology Solution, 2014–2021 (USD Million)
Table 66 Europe: Smart Hospitality Market Size, By Service, 2014–2021 (USD Million)
Table 67 Europe: Market Size, By Professional Services, 2014–2021 (USD Million)
Table 68 Europe: Market Size, By Hotel Type, 2014–2021 (USD Million)
Table 69 Europe: Market Size, By Deployment Model, 2014–2021 (USD Million)
Table 70 Asia-Pacific: Market Size, By Type, 2014–2021 (USD Million)
Table 71 Asia-Pacific: Market Size, By Software, 2014–2021 (USD Million)
Table 72 Asia-Pacific: Market Size, By Hotel Operation Management System, 2014–2021 (USD Million)
Table 73 Asia-Pacific: Market Size, By Integrated Security System, 2014–2021 (USD Million)
Table 74 Asia-Pacific: Market Size, By Hotel Building Automation System, 2014–2021 (USD Million)
Table 75 Asia-Pacific: Market Size, By Guest Service Management System, 2014–2021 (USD Million)
Table 76 Asia-Pacific: Market Size, By Integrated Communication Technology Solution, 2014–2021 (USD Million)
Table 77 Asia-Pacific: Smart Hospitality Market Size, By Service, 2014–2021 (USD Million)
Table 78 Asia-Pacific: Market Size, By Professional Service, 2014–2021 (USD Million)
Table 79 Asia-Pacific: Market Size, By Hotel Type, 2014–2021 (USD Million)
Table 80 Asia-Pacific: Market Size, By Deployment Model, 2014–2021 (USD Million)
Table 81 Middle East and Africa: Market Size, By Type, 2014–2021 (USD Million)
Table 82 Middle East and Africa: Market Size, By Software, 2014–2021 (USD Million)
Table 83 Middle East and Africa: Market Size, By Hotel Operation Management System, 2014–2021 (USD Million)
Table 84 Middle East and Africa: Market Size, By Integrated Security System, 2014–2021 (USD Million)
Table 85 Middle East and Africa: Market Size, By Hotel Building Automation System, 2014–2021 (USD Million)
Table 86 Middle East and Africa: Market Size, By Guest Service Management System, 2014–2021 (USD Million)
Table 87 Middle East and Africa: Market Size, By Integrated Communication Technology Solution, 2014–2021 (USD Million)
Table 88 Middle East and Africa: Market Size, By Service, 2014–2021 (USD Million)
Table 89 Middle East and Africa: Market Size, By Professional Service, 2014–2021 (USD Million)
Table 90 Middle East and Africa: Market Size, By Hotel Type, 2014–2021 (USD Million)
Table 91 Middle East and Africa: Market Size, By Deployment Model, 2014–2021 (USD Million)
Table 92 Latin America: Smart Hospitality Market Size, By Type, 2014–2021 (USD Million)
Table 93 Latin America: Market Size, By Software, 2014–2021 (USD Million)
Table 94 Latin America: Market Size, By Hotel Operation Management System, 2014–2021 (USD Million)
Table 95 Latin America: Market Size, By Integrated Security System, 2014–2021 (USD Million)
Table 96 Latin America: Market Size, By Hotel Building Automation System, 2014–2021 (USD Million)
Table 97 Latin America: Market Size, By Guest Service Management System, 2014–2021 (USD Million)
Table 98 Latin America: Market Size, By Integrated Communication Technology Solution, 2014–2021 (USD Million)
Table 99 Latin America: Smart Hospitality Market Size, By Service, 2014–2021 (USD Million)
Table 100 Latin America: Market Size, By Professional Service, 2014–2021 (USD Million)
Table 101 Latin America: Market Size, By Hotel Type, 2014–2021 (USD Million)
Table 102 Latin America: Market Size, By Deployment Model, 2014–2021 (USD Million)


List of Figures (52 Figures)

Figure 1 Smart Hospitality Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Market Breakdown and Data Triangulation
Figure 5 Vendor Analysis: Criteria Weightage
Figure 6 Smart Hospitality Market Analysis
Figure 7 Europe is Expected to Hold the Largest Market Share in 2016
Figure 8 Top Revenue-Generating Segments in the Smart Hospitality Market, 2016
Figure 9 Emergence of IoT Technology Offers Attractive Market Opportunities
Figure 10 Europe Region is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 Hotel Building Automation System Segment is Expected to Hold the Largest Market Share Among Software in 2016
Figure 12 The Smart Hospitality Market has Immense Opportunities for Growth in Asia-Pacific
Figure 13 Market Segmentation By Software
Figure 14 Market Segmentation By Service
Figure 15 Market Segmentation By Hotel Type
Figure 16 Market Segmentation By Deployment Model
Figure 17 Market Segmentation By Region
Figure 18 Market Drivers, Restraints, Opportunities, and Challenges
Figure 19 Market Technology Roadmap
Figure 20 Market Value Chain Analysis
Figure 21 Market Strategic Benchmarking
Figure 22 Strategic Benchmarking: Technology Integration and Product Enhancement
Figure 23 Vendor Portfolio Analysis
Figure 24 Smart Hospitality Software Would Be the Leading Type in Terms of Market Size During the Forecast Period
Figure 25 Hotel Building Automation System Holds the Major Market Share for the Smart Hospitality Market
Figure 26 Professional Services Segment Holds the Major Market Share for the Smart Hospitality Market During the Forecast Period
Figure 27 Business Hotels Segment Holds the Major Market Share for the Market During the Forecast Period
Figure 28 On-Premises Deployment Holds the Major Market Share for the Market During the Forecast Period
Figure 29 Europe Would Be the Leading Region in Terms of Market Size During the Forecast Period
Figure 30 Europe: Hot Spot for Smart Hospitality Market During the Forecast Period
Figure 31 North America Market Snapshot
Figure 32 Europe Market Snapshot
Figure 33 Companies Adopted the Strategy of New Product Launch as the Key Growth Strategy From 2014 to 2016
Figure 34 Market Evaluation Framework
Figure 35 Battle for Market Share: Partnerships, Agreements, and Collaborations and New Product Launches Were the Key Strategies Adopted By Key Players in the Smart Hospitality Market During the Period 2014–2016
Figure 36 Evaluation Overview: Product Offerings
Figure 37 Evaluation Overview: Business Strategies
Figure 38 Geographic Revenue Mix of Top Market Players
Figure 39 NEC Corporation: Company Snapshot
Figure 40 NEC Corporation: SWOT Analysis
Figure 41 Huawei Technologies Co. Ltd.: Company Snapshot
Figure 42 Huawei Technologies Co. Ltd.: SWOT Analysis
Figure 43 IBM Corporation: Company Snapshot
Figure 44 IBM Corporation: SWOT Analysis
Figure 45 Schneider Electric SE: Company Snapshot
Figure 46 Schneider Electric SE: SWOT Analysis
Figure 47 Siemens AG: Company Snapshot
Figure 48 Honeywell International, Inc.: Company Snapshot
Figure 49 Oracle Corporation: Company Snapshot
Figure 50 Buildingiq Inc.: Company Snapshot
Figure 51 Infor, Inc.: Company Snapshot
Figure 52 Control4: Company Snapshot

The smart hospitality market size is expected to grow from USD 5.74 Billion in 2016 to USD 18.11 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.8%. The major drivers for upsurge in demand for smart hospitality software and services include growing demand for real-time optimized guest experience management, luring revenue generation & low operational costs, and increasing adoption of Internet of Things (IoT) and energy management systems.

The scope of this report covers the smart hospitality market analysis by software, service, hotel type, deployment model, and region. The managed services segment is expected to grow at the highest CAGR during the forecast period. Managed services support the implementation of smart hospitality solutions across hotels.

The guest service management system is expected to grow at the highest CAGR during the forecast period due to the rise in digitization across the globe. The smart solutions enable the administrator to control the guest room by automating the temperature, lights, curtains, and other indoor components while monitoring the security & safety infrastructure and managing the outdoor components, such as parking premises, water management, waste management, inventory, and network infrastructure.

Business hotels are expected to grow at the highest CAGR during the forecast period. Business hotels primarily serve business travelers; however, many tour groups, individual tourists, and small conference groups find these hotels attractive. Business hotels provide their guests with unified communication capabilities that enable the guests to conduct meetings, conferences, and connect to associates around the world. In addition, these hotels deploy various building automation and mobile device-enabled technologies to provide a mesmerizing experience to the guests.

On-demand deployment model is expected to grow at the highest CAGR during the forecast period. On-demand deployment model, also referred to as Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS), enables hotels to deploy their software and services on a virtual environment. Cloud-based deployment smart hospitality software reduces the cost associated with purchasing, servicing, and powering of server-class machines. The subscription model enables the scalability for end-users with a low cost of ownership. It also ensures the integrity of data back-up while reducing the risk of expensive security breaches.

As per the geographic analysis, Europe is expected to benefit from its technological advancements, robust internet infrastructure, and widespread adoption of new technologies. The need for better operational efficiency at a low operating cost is expected to bring about continuous growth in the smart hospitality market.

Smart Hospitality Market

A few of the restraining factors that affect the growth of the market include integration complexities over legacy systems and high initial cost of deployment. The smart hospitality software vendors profiled in this report include Schneider Electric (Rueil-Malmaison, France), Siemens AG (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, Inc. (San Jose, U.S.), Oracle Corporation (California, U.S.), Huawei Technologies (Shenzhen, China), Johnson Controls (Wisconsin, U.S.), NEC Corporation (Tokyo, Japan), and Infor, Inc. (New York, U.S.).

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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