Smart Hospitality

Smart Hospitality

Global Smart Hospitality Market to Reach US$171.6 Billion by 2030

The global market for Smart Hospitality estimated at US$43.3 Billion in the year 2023, is expected to reach US$171.6 Billion by 2030, growing at a CAGR of 21.8% over the analysis period 2023-2030. Smart Hospitality Software, one of the segments analyzed in the report, is expected to record a 20.4% CAGR and reach US$101.3 Billion by the end of the analysis period. Growth in the Smart Hospitality Services segment is estimated at 23.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$12.3 Billion While China is Forecast to Grow at 21.1% CAGR

The Smart Hospitality market in the U.S. is estimated at US$12.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$26.4 Billion by the year 2030 trailing a CAGR of 21.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 18.9% and 18.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.2% CAGR.

Global Smart Hospitality Market - Key Trends and Drivers Summarized

How Is Smart Hospitality Enhancing Guest Experiences?

Smart hospitality solutions leverage IoT, AI, and big data to create personalized, efficient, and seamless experiences for hotel guests and staff. These technologies include smart room controls, virtual assistants, mobile check-ins, and AI-driven service automation, offering enhanced convenience, safety, and tailored services. From luxury hotels to budget accommodations, smart hospitality solutions enable real-time room management, energy efficiency, and personalized services, transforming the traditional guest experience into a more digital and connected one. As the hospitality industry seeks to meet evolving guest expectations, smart solutions are becoming a key driver of competitiveness and customer satisfaction.

What Are the Key Segments in the Smart Hospitality Market?

Major technologies include IoT, AI, and mobile apps, with IoT holding the largest share due to its ability to connect and automate hotel devices and systems. Applications cover guest experience management, energy management, safety and security, and hotel operations, with guest experience management representing a significant segment as hotels focus on delivering personalized services and seamless interactions. End-users include luxury hotels, budget hotels, and resorts, with luxury hotels leading the market as they adopt advanced technologies to enhance guest experiences and optimize operations.

How Are Smart Technologies Being Used in the Hospitality Sector?

In luxury hotels, IoT-enabled smart rooms offer features like automated lighting, climate control, and personalized entertainment, providing guests with a tailored stay experience. AI-powered virtual assistants are used to respond to guest inquiries, manage room service orders, and provide local recommendations, improving service efficiency and guest satisfaction. Mobile apps allow guests to perform self-check-ins, access rooms via digital keys, and manage reservations, supporting a contactless and streamlined process. Energy management systems use sensors and data analytics to optimize energy consumption in guest rooms and common areas, contributing to sustainability and cost savings. Additionally, real-time analytics platforms are used to monitor guest preferences, enabling hotels to customize services and enhance loyalty programs.

What Factors Are Driving the Growth in the Smart Hospitality Market?

The growth in the Smart Hospitality market is driven by several factors, including the increasing demand for personalized and seamless guest experiences in the hospitality sector. The rise of digital transformation initiatives has accelerated the adoption of IoT, AI, and mobile technologies to enhance guest services and operational efficiency. Advancements in AI-driven service automation and virtual assistants have improved service delivery and guest engagement, supporting wider applications across different hotel types. The growing focus on energy efficiency, safety, and sustainability has further fueled the demand for smart hospitality solutions. Additionally, changing guest preferences, such as the desire for contactless services and digital conveniences, have contributed to market expansion as hotels invest in innovative technologies to remain competitive.

Select Competitors (Total 33 Featured) -

• Blazon Hotels
• BuildingIQ
• Cisco
• Cloudbeds
• Control4Corporation
• Frontdesk
• Guestline
• Honeywell International Inc.
• Huawei Technologies Co. Ltd.
• IBM Corporation
• Infor
• Johnson Controls
• NEC Corporation
• Oracle
• Qualsoft Systems Pvt. Ltd.
• Samsung
• Schneider Electric
• Siemens
• Winhotel Solution SL
• WiSuite

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