Smart Hospitality market size will grow from USD 13.6

New York, July 5 2022 (GLOBE NEWSWIRE) — announces the publication of the report “Smart Hospitality Market by Offer, Solution, Deployment Mode, End User and Region – Global Forecast to 2027” – https://www ?utm_source=GNW

Threats of digital data theft and leaks of confidential data are of concern to hoteliers around the world. Smart hospitality solutions contain personal information and personal preferences of customers.

Any data leak can create a question about the credibility of the hotel brand and have legal consequences. Information sharing within the organization has always faced several obstacles, including intra-organizational, inter-organizational, technical issues, and more.

Cross-organizational issues such as lack of trust in new system, exposure of business data to competitors can hinder the implementation of smart hospitality big data for the industry. Any concern from ecosystem members may reduce their intent to participate in contributing data to hospitality big data. To allay the doubts and concerns of individual executives, publicly available cloud data should be consolidated, processed and maintained anonymously so that no organizational identities or customer details can be viewed or recognized by competitors.

The solution segment to register the highest market share during the forecast period
In the smart hospitality market by offering, the solution segment is expected to hold the largest market size.

Additionally, the need to control costs and improve staff efficiency in the hospitality industry will drive the smart hospitality solutions market.

The cruise segment is expected to grow with the highest CAGR during the forecast period
In the smart hospitality market by end user, the cruise segment is expected to register the highest CAGR during the forecast period. Smart solutions such as remote check-in, digital waivers, smart dinner reservations, location-based mobile ordering and wearable technology are being adopted by cruise lines to turn these floating hotels into smart cities.

Cruise lines are adopting smart hospitality solutions to improve the passenger experienceCruise ships are adopting smart hospitality solutions and services to accelerate their service lines and streamline staff productivity. Additionally, the need to achieve operational efficiency and reduce labor costs will drive the market

The cloud segment to register the highest market share during the forecast period
In the smart hospitality market by mode of deployment, the cloud segment is expected to hold the largest market size. Hotels around the world are adopting cloud-based solutions adapted to changing market and business dynamics.

The need for increased guest experience, better cost optimization and universal access to hoteliers from any remote location will drive the market.

Europe is expected to hold the largest market share during the forecast period
Europe is estimated to dominate the smart hotel market and is expected to register the largest market share during the forecast period. The region has been segmented into UK, Germany and Rest of Europe.

The hospitality sector in Europe is making great efforts to increase resource efficiency and reduce its greenhouse gas emissions. Additionally, the government is adopting different initiatives promoting a collaborative and partnership approach to deliver a smart home system across the country.

Distribution of primaries
The study contains insights from various industry experts ranging from solution providers to Tier 1 companies. The breakdown of the primaries is as follows:
• By type of business: Level 1: 35%, Level 2: 40% and Level 3: 25%
• By designation: C level – 35%, directors – 25% and others – 40%
• By region: North America -35%, Europe -25%, Asia-Pacific -30%, ROW -10%

The report covers the competitive landscape and presents the major market players, NEC (Japan), Huawei (China), Schneider Electric (France), Cisco (US), IBM (US), Honeywell (US) , Legrand (France), Siemens AG (Germany), Oracle (USA), Johnson Controls (Ireland), Samsung (South Korea), Infor (USA), Leviton (USA), Saber (USA), United States), Springler-Miller Systems (United States), Control4 (United States), Gloabal Business Solutions (Saudi Arabia), Wisuite (United States), Qualsoft Systems (India), Hospitality Network (United States), Guestline (UK), Cloudbeds (US), Frontdesk Anywhere (US), Chris Lewis Group (UK), Xie Zhu (China), BuildingIQ (US), Stayntouch (US). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the smart hospitality market.

Research Coverage:
The market study covers the smart hospitality market in different segments. It aims to estimate the market size and the growth potential of this market on different segments based on the offer (solutions and services), solutions (property management system, customer experience management system, point of sale, facility management system, network management system, and integrated security management system), services (professional and managed services), deployment mode (cloud and on-premises), end user (hotels, cruises, luxury yachts and others). and region (North America, Europe, Asia-Pacific, Middle East and Africa, Latin America). The study also includes an in-depth competitive analysis of key market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Purchasing the Report
The report is expected to help market leaders/new entrants in this market by providing information on the closest approximations of revenue figures for the entire smart hospitality market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve their businesses’ position and plan appropriate go-to-market strategies.

The report also aims to help stakeholders understand the pulse of the market and provide them with insights on key market drivers, restraints, challenges, and opportunities.
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