Internet of things Security

Smart hospitality market worth $49.9 billion by 2027

Smart hospitality market worth .9 billion by 2027
Written by ga_dahmani
Smart hospitality market worth .9 billion by 2027

CHICAGO, June 28, 2022 /PRNewswire/ — According to an investigative 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 $13.6 billion in 2022 to $49.9 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 29.8% over the forecast period.

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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 experience rapid growth in the future. The increase in the number of smart hotels is driving the software and services used for integration, maintenance and training that will drive the growth of smart hospitality services in the market.

By end user, the hotels segment will hold the largest market share during the forecast period

The hotel segment is expected to hold the largest market share during the forecast period. The type of hotel is segmented into four categories: commercial, heritage and boutique hotels, resorts and spas, and other types of hotels. The need to deliver a smart experience to guests using smart hospitality solutions and services in hotels will drive the segment during the forecast period. In addition, rising standards of living, the number of luxury hotels, and a noticeable improvement in guest service will drive the market.

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Europe region will account for the largest market share in the smart hospitality market

Europe is one of the prominent regions of the smart hospitality market. Relatively strong internet infrastructure, openness to new technologies, and the presence of a strong national cloud provider have all contributed to the growth of the smart hospitality market. The European market for Internet of Things (IoT) solutions is growing. Germanythe United KingdomFrance, Italy, SpainY The Netherlands are leading the adoption of IoT in Europe. The hospitality industry in Europe is making great efforts to increase resource efficiency and reduce its greenhouse gas emissions. The government’s modern industrial strategy lays out a long-term plan to boost productivity and win the power of people throughout the region.

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market players

Key vendors and innovators in the smart hospitality market are NEC (Japan), Huawei (China)Schneider Electric (France), Cisco (USA), IBM (USA), Honeywell (USA), Legrand (France)Siemens AG (Germany), Oracle (USA), Johnson Controls (Ireland), Samsung (South Korea), Infor (US), Leviton (US), Saber (US), Springler-Miller Systems (US), Control4 (US), Global Business Solutions (Saudi Arabia), Wisuite (USA), Qualsoft Systems (India), Hospitality Network (US), Guestline (UK), Cloudbeds (US), Frontdesk Anywhere (US), Chris Lewis Group (UK), Xie Zhu (China), BuildingIQ (USA), Stayntouch (USA)

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