Dublin, July 15, 2022 (GLOBE NEWSWIRE) -- The "Global Smart Hospitality Market by Offering (Solutions, Services), Solution (Property Management System, Network Management System, Integrated Security Management System), Deployment Mode, End User and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The publisher forecasts the Smart Hospitality market size to grow from USD 13.6 billion in 2022 to USD 49.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 29.8% during the forecast period.
The solution segment to record the highest market share during the forecast period
In the smart hospitality market by offering, solutions segment is expected to hold the largest market size. Today, hospitalities must adopt to more reliable and scalable solutions to integrate information and operation technology into one unified integrated solution. Also, the need to control costs, improve staff efficiency in the hospitality industry will drive the smart hospitality solutions market.
The cruise segment is expected to grow with the highest CAGR during the forecast period
In the smart hospitality market by end-user, the cruise segment is expected to record the highest CAGR during the forecast period. Smart solutions such as remote check-in, digital waivers, smart dinner reservations, geolocation-based mobile ordering, and wearable tech are being adopted by cruise companies to transform these floating hotels into smart cities. Cruise companies are adopting smart hospitality solutions to enhance passenger experiences. Cruise ships are adopting smart hospitality solutions and services to speed up their service lines and streamline staff productivity. Also, the need to achieve operational efficiency and reduce labor costs will drive the market
The cloud segment to record the highest market share during the forecast period
In the smart hospitality market by deployment mode, cloud segment is expected to hold the largest market size. Hotels globally are adopting cloud-based solutions adapted to the changing market and business dynamics. The need for increased guest experience, better cost optimization, and universal access to the hoteliers from any remote location will drive the market.
Europe is expected to have a largest market share during the forecast period
Europe is estimated to dominate the smart hospitality market and is projected to record the largest market share during the forecast period. The region has been segmented into UK, Germany and Rest of Europe. The hospitality sector in Europe is undertaken strong efforts to raise resource efficiency and reduce its greenhouse gas emissions. Also the government is adopting different initiatives by promoting a collaborative and partnership approach to deliver smart hospitality system across the country.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Smart Hospitality Market
4.2 North America: Market, by Top Three Solutions
4.3 Europe: Market, by Top Three Solutions
4.4 Asia-Pacific: Market, by Top Three Solutions
5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Growth in Tourism and Increased Investments in Hotel Projects
5.1.1.2 Growing Demand for Guest-Oriented, Hyperconnected Personalized and Real-Time Optimized Experience
5.1.1.3 Reduction in Operational Costs and High Revenue Growth Opportunities
5.1.1.4 High Adoption Rate of Advanced Technologies Like IoT and Energy Management Systems Across the World
5.1.2 Restraints
5.1.2.1 High Implementation, Maintenance, and Training Cost
5.1.2.2 Integration Complexities Over Legacy Systems and Networks
5.1.2.3 Quality and Technically Sound Manpower Shortage Post COVID-19
5.1.3 Opportunities
5.1.3.1 Use of Smart Hospitality to Alleviate Operational Burden and Promote Safety of Employees and Customer Health
5.1.3.2 Evolving 5G to Transform the Smart Hospitality Industry
5.1.3.3 Emerging Hotel Workspaces Concept
5.1.4 Challenges
5.1.4.1 Data Security and Information Sharing Threats
5.1.4.2 Integration of Real-Time Streaming Analytics Capabilities into Smart Solutions
5.1.4.3 Technology and Data Fragmentation
5.2 COVID-19 Market Outlook for Smart Hospitality Market
5.2.1 Drivers and Opportunities
5.2.2 Restraints and Challenges
5.2.3 Cumulative Growth Analysis
5.3 Pricing Analysis
5.4 Supply/Value Chain Analysis
5.5 Ecosystem
5.6 Technology Analysis
5.6.1 Big Data and Analytics
5.6.2 Artificial Intelligence
5.6.3 Blockchain
5.6.4 Internet of Things
5.6.5 5G
5.7 Patent Analysis
5.8 Key Conferences and Events in 2022-2023
5.9 Regulatory Landscape
5.9.1 Bacnet - Data Communication Protocol for Building Automation and Control Networks
5.9.2 Knx
5.9.3 Digital Addressable Lighting Interface
5.9.4 General Data Protection Regulation
5.9.5 Modbus
5.9.6 Cloud Standard Customer Council
5.9.7 Communications & Information Technology Commission (Citc)
5.9.8 The International Organization for Standardization 27001
5.9.9 California Consumer Privacy Act
5.9.10 Personal Data Protection Act
5.10 Porter's Five Forces Model
5.10.1 Threat of New Entrants
5.10.2 Threat of Substitutes
5.10.3 Bargaining Power of Suppliers
5.10.4 Bargaining Power of Buyers
5.10.5 Competitive Rivalry
5.11 Key Stakeholders and Buying Criteria
5.11.1 Key Stakeholders in the Buying Process
5.11.2 Buying Criteria
5.12 Case Study Analysis
5.12.1 Case Study 1: Hilton Deployed Ecostruxure Solution to Improve Efficiency and Guest Comfort
5.12.2 Case Study 2: Hyatt Deployed Ecostruxure Solution to Improve the Guest Experience
5.12.3 Case Study 3: Merlin Entertainments Selected Oracle to Increase Occupancy and Hotel Attraction
5.12.4 Case Study 4: Deployment of Hospitality Solutions to Speed Up Operations with Cloud
5.12.5 Case Study 5: Deployment of Property Management System to Manage Lodging Inventory
6 Smart Hospitality Market, by Offering
6.1 Introduction
6.1.1 Offering: Market Drivers
6.1.2 Offering: COVID-19 Impact
6.2 Solutions
6.2.1 Smart Hospitality Solutions Helps Solve Critical Challenges for Hospitality Operations and Management
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting Services
6.3.1.2 Integration and Deployment
6.3.1.3 Support and Maintenance
6.3.2 Managed Services
7 Smart Hospitality Market, by Solution
7.1 Introduction
7.1.1 Solution: Market Drivers
7.1.2 Solution: COVID-19 Impact
7.2 Property Management System (Pms)
7.2.1 Need for a Centralized Application to Perform, Schedule, and Organize Daily Operations and Transactions
7.2.1.1 Work Force Mobility and Management
7.2.1.2 Inventory and Logistics Management
7.2.1.3 Revenue Management
7.2.1.4 Centralized Reservation Management
7.2.1.5 Analytics and Reporting System
7.3 Guest Experience Management System
7.4 Point of Sale (Pos) Software
7.4.1 Need to Deliver Quick and Convenient Service to Customers by Enhancing Checkout Process to Drive the Market
7.5 Facility Management System
7.5.1 Need to Optimize the Use of Resources and Manage Cost of Amenities to Drive the Market
7.5.1.1 Energy Management
7.5.1.2 Room Automation and Control System
7.5.1.3 Safety Management
7.6 Network Management System
7.6.1 Need to Monitor Complex Network Infrastructure to Drive the Market
7.7 Integrated Security Management
7.7.1 Need to Provide Proactive and Preventative Security to Drive the Market
7.7.1.1 Video Surveillance System
7.7.1.2 Access Control System
7.7.1.3 Emergency Incident Management System
8 Smart Hospitality Market, by Deployment Mode
8.1 Introduction
8.1.1 Deployment Mode: Market Drivers
8.1.2 Deployment Mode: COVID-19 Impact
8.2 On-Premises
8.2.1 Need for Personalized Solutions to Drive the Market
8.3 Cloud
8.3.1 Growing Need to Save Operational Expenditure Fuels the Demand for Cloud-Based Solutions
9 Smart Hospitality Market, by End-user
9.1 Introduction
9.1.1 End-user: Market Drivers
9.1.2 End-user: COVID-19 Impact
9.2 Hotels
9.2.1 Introduction
9.2.2 Commercial
9.2.3 Resorts and Spas
9.2.4 Heritage and Boutique Hotels
9.2.5 Others
9.3 Cruise
9.4 Luxury Yachts
9.5 Others
10 Smart Hospitality Market, by Region
11 Competitive Landscape
12 Company Profiles
12.1 Major Players
12.1.1 Nec Corporation
12.1.1.1 Business Overview
12.1.1.2 Products Offered
12.1.1.3 Recent Developments
12.1.1.4 Analyst's View
12.1.1.4.1 Key Strengths/Right to Win
12.1.1.4.2 Strategic Choices Made
12.1.1.4.3 Weakness and Competitive Threats
12.1.2 Huawei
12.1.2.1 Business Overview
12.1.2.2 Products Offered
12.1.2.3 Recent Developments
12.1.2.4 Analyst's View
12.1.2.4.1 Key Strengths/Right to Win
12.1.2.4.2 Strategic Choices Made
12.1.2.4.3 Weakness and Competitive Threats
12.1.3 Schneider Electric
12.1.3.1 Business Overview
12.1.3.2 Products Offered
12.1.3.3 Recent Developments
12.1.3.4 Analyst's View
12.1.3.4.1 Key Strengths/Right to Win
12.1.3.4.2 Strategic Choices Made
12.1.3.4.3 Weaknesses and Competitive Threats
12.1.4 Cisco Systems
12.1.4.1 Business Overview
12.1.4.2 Products Offered
12.1.4.3 Recent Developments
12.1.4.4 Analyst's View
12.1.4.4.1 Key Strengths/Right to Win
12.1.4.4.2 Strategic Choices Made
12.1.4.4.3 Weaknesses and Competitive Threats
12.1.5 Ibm
12.1.5.1 Business Overview
12.1.5.2 Products Offered
12.1.5.3 Recent Developments
12.1.5.4 Analyst's View
12.1.5.4.1 Key Strengths/Right to Win
12.1.5.4.2 Strategic Choices Made
12.1.5.4.3 Weaknesses and Competitive Threats
12.1.6 Honeywell
12.1.6.1 Business Overview
12.1.6.2 Products Offered
12.1.6.3 Recent Developments
12.1.6.4 Honeywell: Response to COVID-19
12.1.7 Legrand
12.1.7.1 Business Overview
12.1.7.2 Products Offered
12.1.7.3 Recent Developments
12.1.8 Siemens Ag
12.1.8.1 Business Overview
12.1.8.2 Products Offered
12.1.8.3 Recent Developments
12.1.9 Oracle
12.1.9.1 Business Overview
12.1.9.2 Products Offered
12.1.9.3 Recent Developments
12.1.10 Johnson Controls
12.1.10.1 Business Overview
12.1.10.2 Products Offered
12.1.10.3 Recent Developments
12.1.11 Samsung
12.1.11.1 Business Overview
12.1.11.2 Products Offered
12.1.11.3 Recent Developments
12.1.11.4 Recent Developments
12.1.12 Infor
12.1.12.1 Business Overview
12.1.12.2 Products Offered
12.1.12.3 Recent Developments
12.1.13 Leviton
12.1.13.1 Business Overview
12.1.13.2 Products Offered
12.1.14 Sabre Corporation
12.1.15 Springer-Miller Systems
12.2 Startups/Smes
12.2.1 Control4
12.2.2 Global Business Solutions Co. Ltd
12.2.3 Wisuite
12.2.4 Qualsoft Systems Pvt Ltd
12.2.5 Hospitality Network
12.2.6 Guestline
12.2.7 Cloudbeds
12.2.8 Frontdesk Anywhere
12.2.9 Chris Lewis Group
12.2.10 Xie Zhu
12.2.11 Buildingiq
12.2.12 Stayntouch
13 Adjacent/Related Markets
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/hyusji
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