Global Smart Hospitality Market — Market Size, Company Profiles, Industry Trends and Forecast 2025
Smart hospitality refers to the use of smart solutions and technology in hospitality to enhance the customer’s services.
Smart hospitality helps customers to control the room environment remotely.
Smart hospitality provides HD free-to-guest channels, Interactive TV, IPTV services and Wi-Fi for hotels.
The global smart hospitality market will reach 22.83 billion USD by 2025 from 6.94 billion USD in 2018 at a CAGR of 18.54% during the period.
The smart hospitality leverages the hospitality segment with the help of smart solutions and automated software using digital technology through mobile devices and apps to enhance customer services.
These technologies help in providing a great hospitality experience and empowering the guests to select a room, room types, and room number through their mobile phones.
The increasing demand for real-time optimized guest experience management, increasing adoption of IoT among others is some of the factors fuelling the growth of this market.
Market Segmentation — by Hotel Type
This is the most primary manner a hotel can be segmented.
- Business Hotels
- Heritage
- Boutique
- Resorts & Spas
- Others
Market Segmentation — by Software
Today, hotels use multiple technologies for a smooth undertaking. The software used is also a segmentation criterion.
- Hotel Operation Management
- Hotel Building Management
- Guest Service Management
- Integrated Communication Technology
- Others
Market Segmentation — by Services
- Professional
- Managed
- Consulting
- Others
Market Segmentation — by Region
The region is dived in continents and sub-divided into the country of operation.
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Growth by Region
The Asia Pacific will grow at a significant rate due to the adoption of technologies related to smart hospitality.
Europe dominates the market owing to technological innovations, robust internet infrastructure and increasing adoption of IoT.
North America also has a major share in the market due to the availability of advanced technologies.
Drivers vs Constraints
The rising demand for the optimized guest experience, lower operational costs is driving the market growth.
The need for IoT technologies for hotel operation management, security and energy management in hospitality is driving the market growth.
On the other hand, the high implementation cost and lack of skilled professionals are restraining the market.
Industry Trends and Updates
Everett launched Savvy SmartMirror, touch and voice-activated, are helping to redefine the hotel guest experience.
NCR Corporation announced its Internet of Things (IoT)-enabled managed services capabilities, together with PTC, which helps hospitality optimize the availability and security of consumer interaction technologies, including self-service and mobile channels.
Companies Mentioned
- Schneider
- Siemens
- IBM
- BuildingIQ
- Honeywell
- Winhotel
- Cisco
- Oracle
- Huawei
- NEC Enterprise
- Peach
- Johnson Controls
- Infor
- Control4
- Sabre
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