NCR Online Journal

Smart Hospitality Market Growing at a CAGR 29.8% | Key Player NEC, Huawei, Schneider Electric, Cisco, IBM

 Breaking News
  • No posts were found

Smart Hospitality Market Growing at a CAGR 29.8% | Key Player NEC, Huawei, Schneider Electric, Cisco, IBM

July 06
19:04 2022
Smart Hospitality Market Growing at a CAGR 29.8% | Key Player NEC, Huawei, Schneider Electric, Cisco, IBM
NEC (Japan), Huawei ( China), Schneider Electric (France), Cisco (US), IBM (US), Honeywell (US), Legrand (France), Siemens AG (Germany), Oracle (US), Johnson Controls (Ireland), Samsung (South Korea), Infor (US), Leviton (US), Sabre (US), Springler-Miller Systems (US), Control4 (US), Global Business Solutions (Saudi Arabia), Wisuite (US), Qualsoft Systems (India).
Smart Hospitality Market by Offering (Solutions, Services), Solution (Property Management System, Network Management System, Integrated Security Management System), Deployment Mode, End User and Region – Global Forecast to 2027

MarketsandMarkets 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 increase in adoption of smart hospitality solutions and services is driven by the need to reduce operational costs and look for high revenue growth opportunities. Furthermore, the growing demand for guest-oriented, hyperconnected personalization and real-time optimized experience will drive the smart hospitality market. The presence of various key players in the ecosystem has led to a competitive and diverse market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93242156

By offering the services segment to have the highest growth rate during the forecast period

The services segment is expected to have a higher growth rate during the forecast period. The smart hospitality market, by service, is segmented into professional services and managed services. The services segment is expected to witness fast growth in the future . The rise in the number of smart hotels is driving software and services used for integration, maintenance, and training will drive the growth of smart hospitality services in the market.

Scope of the Report

Report Metrics

Details

Market size available for years

2017-2027

Base year considered

2021

Forecast period

2022-2027

Forecast units

Value (USD Million/Billion)

Segments covered

By Offering, Solutions, Deployment Mode, End User and Region

Regions covered

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America

Companies covered

NEC (Japan), Huawei ( China), Schneider Electric (France), Cisco (US), IBM (US), Honeywell (US), Legrand (France), Siemens AG (Germany), Oracle (US), Johnson Controls (Ireland), Samsung (South Korea), Infor (US), Leviton (US), Sabre (US), Springler-Miller Systems (US), Control4 (US), Gloabal Business Solutions (Saudi Arabia), Wisuite (US), Qualsoft Systems (India), Hospitality Network (US), Guestline (UK), Cloudbeds (US), Frontdesk Anywhere (US), Chris Lewis Group (UK), Xie Zhu (China), BuildingIQ (US), Stayntouch (US)

By end-user, the hotels segment to have the highest market share during the forecast period

The hotels segment is expected to have the highest market share during the forecast period. The hotel type is segmented into four categories: commercial, heritage & boutique hotels, resorts & spas, and other hotel types. The need to provide smart guest experience using smart hospitality solutions and services in the hotels will drive the segment during the forecast period.nAlsonthe increasing standard of living, the number of luxury hotels, and a notable enhancement in the guest service will drive the market.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=93242156

Various globally established players such as NEC (Japan), Schneider Electric (France), Cisco (US), IBM (US), and Huawei (China) are dominating the smart hospitality market. In this market various strategies such as enhancements; partnerships, expansions, new product launches, collaboration, agreements, and acquisitions; and other growth strategies adopted by the top key players.

IBM has added new AI based features in the Watson Assistant to enhance customer experience by offering new voice agents, live agents. This new intelligent virtual agent helps to resolve customer queries, issue quickly in first contact. The company also partnered with MediaMat to help brands proof their future strategies and support weather-based targeting to increasing customer engagement and occupancy. IBM Watson Advertising Weather Targeting will help the MediaMath to boost their marketing strategies and improve customer conversion with more personalized messages

Cisco launched The Meraki Video Analytics a smart hospitality solution. It helps to capture more data driven insights with the help of MV smart cameras. It detects people and vehicle, monitor guest actions, ensure their safety and privacy. The company also partnered with Openpath to provide remote cloud-based management system, real-time video surveillance and touch-less access control to customers and guest to control their environment as per need.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/smart-hospitality-market-93242156.html

Related Articles