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(IT-NEWSWIRE.COM, November 10, 2022 ) According to a research report “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”, published by MarketsandMarkets™, the global Smart Hospitality Market size is expected 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.
Browse in-depth TOC on “Smart Hospitality Market”
159 — Tables
39 — Figures
163 — Pages
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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.
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. Also, the increasing standard of living, the number of luxury hotels, and a notable enhancement in the guest service will drive the market.
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Europe region to account for highest market share in smart hospitality market
Europe is one of the prominent regions the smart hospitality market. The relatively robust internet infrastructure, openness to new technology, and presence of a strong domestic cloud provider have all contributed to the growth of the smart hospitality market. The European market for Internet of Things (IoT) solutions is growing. Germany, the United Kingdom, France, Italy, Spain, and the Netherlands are leading European IoT adoption. The hospitality sector in Europe is undertaken strong efforts to raise resource efficiency and reduce its greenhouse gas emissions. The government’s modern industrial strategy sets out a long-term plan to boost the productivity and to earn the power of people throughout the region.
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Market Players
Key and innovative vendors in the smart hospitality market are 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), Hospitality Network (US), Guestline (UK), Cloudbeds (US), Frontdesk Anywhere (US), Chris Lewis Group (UK), Xie Zhu (China), BuildingIQ (US), Stayntouch (US)
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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model — GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Northbrook, IL 60062
USA: +1–888–600–6441
Email: Sales@marketsandmarkets.com
Content Source: https://www.prnewswire.com/news-releases/smart-hospitality-market-worth-49-9-billion-by-2027--exclusive-report-by-marketsandmarkets-301576826.html
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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