About Hotel Management Tools
The global hotel management tools market is expected to grow at a good pace during the forecast period, according to the AMA study. Increasing demand for automation in hotel management operations and rising adoption of cloud-based hotel & hospitality management solutions are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.7% |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Hotel Management Tools market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amadeus IT Group (Spain), Cisco Systems, Inc. (United States), Honeywell International Inc. (United States), Johnson Controls International Plc (Ireland), NEC Corp. (Japan), Oracle (United States), Sabre Corporation (United States), Salesforce.com Inc. (United States), Schneider Electric (France) and Siemens AG (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hotel Management Tools market by , Application (Acounting, GDS/OTA Integration, Employee Management, Online Booking, POS, Muilti-Property, Vacation Rentals, Marketing Automation and Others) and Region.
On the basis of geography, the market of Hotel Management Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Family Hotels & Resorts will boost the Hotel Management Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise SIze, the sub-segment i.e. SMEs will boost the Hotel Management Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Windows will boost the Hotel Management Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-Premise will boost the Hotel Management Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Implementation of Artificial Intelligence (AI) in Hotel Management Software and Third-party integrations with OTAs
Market Growth Drivers:
Rising Demand for Automation in Hotel Management and The Rising Adoption of Cloud-based Hotel and Hospitality Management Software
Challenges:
Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
Restraints:
High Cost of Solutions
Opportunities:
Opportunities in the Asia Pacific Region
Market Leaders and their expansionary development strategies
In September 2023, HotelRunner, a hotel tech startup, has acquired the point-of-sale software company PayPad has acquired the Turkey-based company and has rebranded it as HotelRunner POS. HotelRunner said it offers a property management system and a set of other software products meant to help hospitality clients streamline sales, operations, distribution management, and more. It also offers a platform where travel companies can connect and do business with one another.
In December 2023, Deep-tech company Revivo launched its flagship Hotel X product suite. This hospitality management and growth platform for hotel businesses across the country specialises in seamlessly automating and managing hotel businesses and boosting their revenue worldwide.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Travel & Tourism Due to the COVID-19 Pandemic is Impacting the Demand for Hotel Management Solutions
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the hotel management tools market in 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
Key Target Audience
Hotel Logistics Company, Government bodies, Research Institutes and Venders and investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.