Smart Hospitality Market By Component (Solution, Services), By Solution Type (Hotel Operation Management, Hotel Automation Management, Guest Service Management System, Security Management System, Others), By Deployment Mode (On-Premise, Cloud), By Application (Hotels, Cruises, Luxury Yachts, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The smart hotel room or smart suite enables customers to easily manage their accommodations from a distance. For instance, a visitor can lock the hotel door, draw and open the curtains, mute the TV, and adjust the lighting. Smart hotel technology may enhance the visitor's stay and encourage their return. Furthermore, from the standpoint of a hotel owner, the increased sustainability potential is one of the main benefits of a smart hotel room. The automation that the Internet of Things provides can help with this because it relates primarily to energy-saving opportunities within the rooms.
Growth in tourism and an increase in investments in hotel projects and a surge in demand for real-time optimized guest experience management are driving the growth of the market. In addition, the rapid adoption of advanced technologies like IoT and energy management systems globally is fueling the growth of the smart hospitality market. However, high implementation, maintenance & training cost, and data security and information sharing threats limit the growth of this market. Conversely, evolving 5G to transform the smart hospitality industry is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
The global smart hospitality market is segmented into component, solution type, deployment mode, application, and region. Depending on the component, the market is divided into solution and services. Based on solution type, it is categorized into hotel operation management, hotel automation management, guest service management system, security management system, and others. By Deployment mode, it is divided into on-premises and cloud. Based on application, it is bifurcated into hotels, cruises, luxury yachts, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global smart hospitality market is dominated by key players such as Cisco Systems, Inc., Honeywell International Inc., Huawei Technologies Co., Ltd., IBM CORPORATION, Infor, Johnson Controls, NEC CORPORATION, Oracle Corporation, Schneider Electric and Siemens AG. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global smart hospitality market forecast along with the current & future trends to explain the imminent investment pockets.
information about key drivers, restraints, & opportunities and their impact analysis on global smart hospitality market trends is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
By Solution Type
Hotel Operation Management
Hotel Automation Management
Guest Service Management System
Security Management System
Others
By Component
Solution
Services
By Application
Hotels
Cruises
Luxury Yachts
Others
By Deployment Mode
On-Premise
Cloud
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Infor
Oracle Corporation
Cisco Systems, Inc.
Honeywell International Inc.
Huawei Technologies Co., Ltd.
IBM CORPORATION
NEC CORPORATION
Schneider Electric
Siemens AG
Johnson Controls
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