Industry Background:
Rate Intelligence Platform or Rate Shopper Software market intelligence tools enable hoteliers to closely monitor the market on a variety of aggregated data points. These are easy-to-use, multilingual platform for the wide variety of revenue applications that provides accurate rate intelligence. It enables its users with the largest variety of channels to shop from, along with market and rank insights. systems also provide hoteliers with data such as weather forecasts, local events and holiday calendars that could also impact overall market demand.
According to AMA Research, the market for Hotel Rate Shopper Software is expected to register a CAGR of 8.0% during the forecast period to 2030. This growth is primarily driven by Rise in Demand for the Real Time Live Rate Tracking and Downloads for Revenue Management in Hotels
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Application Software sector in the Europe region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as SiteMinder (Australia), OTA Insight (United Kingdom), D-Edge (Australia), Rategain (United States), myDigitalOffice (United States), RatePing Hotel Pricing Intelligence (India), Fornova (United Kingdom), RateFor by HotelRunner (Turkey), Hotellistat GmbH (Germany) and Amadeus IT Group SA (Spain), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2020, RateGain Acquired BCV to Help Hotel Chains Maximize Guest Lifetime Value. This acquisition will help the BCV to get the expertise backup on the rate shopping and complement RateGain’s product portfolio by digital products designed to increase direct sales, provide unparalleled guest interactions, and mitigate negative experiences.
In July 2020, Expedia Group launched its new hotel rate comparison tool. It offered benefits like discounts on flights, hotels, cruises, and car rentals, along with faster tier progression and perks at select properties.The global market for the hotel rate shopper is fragmented by the global key players owing to the rising demand for automation and effective cost/revenue generation with help of advanced software tools. Key players should focus on product development and R&D for the addition of tools and robust firewalls for the data safety.
Influencing Trend:
Integration of Artificial Intelligence and Tools for Efficient Working and Data Decision
Market Growth Drivers:
Rise in Demand for the Real Time Live Rate Tracking and Downloads for Revenue Management in Hotels and Growth in Automation and Advanced Technologies for Business Automation
Challenges:
Less Awareness about the Hotel Rate Shopper Application
Restraints:
Malware Attacks and Data Breach of the Confidential Information
Opportunities:
Rise in Different Hospitality Concepts like Backpackers, Villas, and BnB
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Hotel Rate Shopper Software Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Hotel Rate Shopper Software Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Hotel Rate Shopper Software players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Hotel Rate Shopper Software Study Sheds Light on
The Hotel Rate Shopper Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Hotel Rate Shopper Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Hotel Rate Shopper Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.