Smart Hospitality Market Size Worth $110.08 Billion By 2030 | CAGR: 29.79%

The global smart hospitality market size is expected to reach USD 110.08 billion by 2030, according to a new study by Polaris Market Research. The report " Smart Hospitality Market Share, Size, Trends, Industry Analysis Report, By Offering; By Deployment Mode (Cloud and On-premises); By End-Use (Hotels, Cruise, Luxury Yachts and Others); By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.

By offering a more personalized travel experience, hoteliers can forge a lasting, and increase the chance that they will write a positive review. Creating a distinctive visitor experience increases revenue while enhancing brand reputation and customer loyalty. Through new smart hospitality solutions, hotels have access to data-driven insights and customer behavior to enhance the customer experience through better service to every guest.

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Over the projection period, the growing adoption of various advanced technologies in the hospitality industry, using 5G, IoT, and A.I., is anticipated to create revenue-generating opportunities. For example, in April 2020, Huawei and intercontinental joined forces to construct first 5G-enabled smart hotel, giving guests an extraordinary experience by providing robust 5G network with connected terminals.

As a result, it is anticipated that adopting such cutting-edge technology would drive growth in the global market. These slashing smart hospitality solutions help hotels improve the quality of their services while improving the guest experience. As a result, there will likely be a greater need for smart hospitality solutions, which will fuel the expansion of the market.

Smart Hospitality Market Report Highlights

• The guest-experience sub-segment by solution is anticipated to grow at a high CAGR. It is the guest experience that determines the quality of service provided by a hospitality business. A dissatisfactory experience signals that the hotel needs to make improvements.
• The cloud-based segment is anticipated to grow rapidly. Hotels and restaurants are implementing cloud-based technologies that may change with the market and business dynamics. The demand for a better guest experience, enhanced cost efficiency, and universal access to hoteliers from any remote area will boost the market.
• In Asia-Pacific, the global market is expected to dominate due to its ability to handle outsourced solutions, and the market for smart hospitality is expected to experience significant growth. Furthermore, it is projected that the extensive construction of contact centers will further fuel the expansion of the smart hospitality sector in the area over the next few years.
• major players operating in the global market are Cisco Systems, Honeywell International, IBM Corp., Johnson Controls, NEC Corporation, Oracle Corporation, Schneider Electric, Siemens, Winhotel Solution, Huawei Technologies, Oracle, Johnson Controls, Samsung, Springer-Miller Systems, Control4, Wisuite, Qualsoft Systems, Hospitality Network, Guestline, Cloudbeds, Frontdesk Anywhere, Chris Lewis Group, Xie Zhu, BuildingIQ, Stayntouch, and others.

Polaris Market Research has segmented the smart hospitality market report based on offering, deployment, end use, and region:

Smart Hospitality, Offering Outlook (Revenue - USD Billion, 2018 - 2030)

• Solution
  • Property Management System
  • Guest Experience Management System
  • Integrated Security Management
  • Facility Management Software
  • Network Management Software
  • Point Of Sale Software
• Services

Smart Hospitality, Deployment Mode Outlook (Revenue - USD Billion, 2018 - 2030)

• Cloud
• On-premises

Smart Hospitality, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

• Hotel
• Cruise
• Luxury Yachts
• Others

Smart Hospitality, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa