Industry Background:
Smart hospitality refers to the integration of technology such as automated software and smart solutions for hospitality. It is widely used in hotels and cruises. It helps to reduce the cost and also improves the efficiency of staff and gives a unique experience to the guest so that they want to come again. Smart hospitality is a growing sector that leverages the hospitality segment via smart solutions and automated software using digital technology through mobile devices and apps to enhance customer services.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Schneider Electric (France), Siemens AG (Germany), IBM Corporation (United States), BuildingIQ (United States), Honeywell International (United States), Winhotel Solutions (Spain), Cisco Systems, Inc. (United States), Oracle Corporation (United States), Huawei Technologies (China) and Johnson Controls (United States) |
This growth is primarily driven by Growing Demand for Real-Time Optimized Guest Experience Management and Advanced Technological Developments in Smart Hospitality.
Globally, a noticeable market trend is evident Attractive Revenue Growth and Low Operational Costs
The Internet Software & Services sector in the North America 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 Schneider Electric (France), Siemens AG (Germany), IBM Corporation (United States), BuildingIQ (United States), Honeywell International (United States), Winhotel Solutions (Spain), Cisco Systems, Inc. (United States), Oracle Corporation (United States), Huawei Technologies (China) and Johnson Controls (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Influencing Trend:
Attractive Revenue Growth and Low Operational Costs and Increasing Adoption of IoT and Energy Management Systems
Market Growth Drivers:
Growing Demand for Real-Time Optimized Guest Experience Management and Advanced Technological Developments in Smart Hospitality
Challenges:
Integration of Real-Time Streaming Analytics Capabilities Into Smart Solutions and Limited Availability of Technically-Skilled Personnel
Restraints:
High Initial Cost of Deployment and Integration Complexities Over Legacy Systems and Networks
Opportunities:
Evolving Cloud-Based Iot Platforms and Untapped Concept of BYOD Applications Within the Hospitality Industry
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 mostly 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 growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
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 in Smart Hospitality Market
- Analysis about New Entrants in Smart Hospitality Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Smart Hospitality Study Sheds Light on
The Smart Hospitality Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Hospitality industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Hospitality 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.