Global Smart Hospitality System Industry
New Study On “Global Smart Hospitality System Market 2019: Size, Share, Demand, Trends, Growth and 2025 Forecasts” Added to Wise Guy Reports Database
Smart hospitality refers to services and software that enables hotels to enhance customer experience and aid in improving their revenue growth. Such revenue growth will be supported by digital in-room entertainment systems. Several hospitality brands are capable of customizing and personalizing their back-end solutions and enabling a notable experience for travelers. Smart hospitality also provides HD free-to-guest channels, interactive TV, WiFi services to their guests, and IPTV services. It also helps in the augmentation of consumer experience and satisfaction.
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Smart hospitality includes hotels that use advanced technologies with the integration of the latest innovation to cater to their guests. An important smart revolution is expected to transform the global smart hospitality system market over the forecast period. Various contractors in the construction sector are witnessed to enter into strategic partnerships to build smarter, cost-effective, and improved hotels in lower time.
The global smart hospitality system market is expected to ascend at a fast rate owing to the rising adoption of smart hospitality services and technology in several organizations prevalent in the hospitality industry. Moreover, the implementation of smart hospitality systems is expected to improve the customer experience, impression, and satisfaction. Many enterprises are noted to provide smart hospitality solutions and technology which are expected to facilitate the diverse needs of consumers and provide them with higher comfort and convenience.
However, there are a few factors that are anticipated to pose a threat to market growth. Lack of technically skilled personnel is expected to hamper the market ascension for smart hospitality systems.
Market Segmentation
The global smart hospitality systems market is studied for the segments of product type, application, and region. Based on product type, the market for smart hospitality systems is segmented into integrated security system, hotel building automation system, hotel operation management system, hotel building automation system, guest service management system, and integrated communication technology solutions. Based on application, the global market for smart hospitality systems is segmented into heritage and boutique hotels, business hotels, and resorts and spas.
Detailed Regional Analysis
The global smart hospitality systems market is segmented into the regions of South America, Europe, North America, Asia Pacific (APAC), and the Middle East & Africa (MEA). North America is assessed to account for the dominant share in the global market over the assessment period. Further, Europe is expected to trail behind North America, garnering the second-largest share of the smart hospitality systems market. This can be accredited to the technological advancements in the smart hospitality systems. However, Asia Pacific is expected to ascend at a remarkable pace over the conjecture period. This brisk CAGR can be owed to the widespread adoption of the latest technologies related to smart hospitality.
Key Players
Noteworthy players present in the smart hospitality system market include Buildingiq Inc., Cisco Systems, Inc., Control4, Honeywell International, Inc., Huawei Technologies Co.Ltd, IBM Corporation, Infor, Inc., Johnson Controls, Mitel Networks Corporation, NEC Corporation, Oracle Corporation, Sabre Corporation, Schneider Electric Se, Siemens AG, Smartodom Automation, Springer-Miller Systems, and Winhotel Solution S.L.
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