Reduced operational cost, the rising demand for Real-Time Optimized Guest Experience Management, and the development of cloud-based IoT platforms are some of the factors boosting Smart Hospitality Market.
The global Smart Hospitality Market is forecast to reach USD 52.88 Billion by 2027, according to a new report by Reports and Data. Automation has been a topic of much interest in the hospitality industry over the past few years. Automation solutions can enhance the in-room experience of hotel guests and improve the energy and operational efficiency of the hotel, which will, in turn, be beneficial for the brand loyalty. The automation system in these hotels not only provides luxurious guest experience, but it is also helpful for operational activities like energy savings, centralized management, and asset maintenance, among others. Security is a major concern in the hotel business. Safety in building can be ensured with RFID cards with security codes. With the help of alarms, the security level can be enhanced by sending signals instantly to the monitoring computer. Remote Management of Rooms is another significant advantage of this type of hospitality. Many smart hotels are developing apps that allow guests to use their smartphones to effortlessly control lighting, door locks, HVAC, entertainment, and window shades irrespective of their location in the hotel rooms or outside. These remote monitoring features are also advantageous for hotel staff wherein; they can remotely change temperature settings or turn lights off in a room after guests check out. This technology is also useful in reducing downtime and expect maintenance needs. Thus the presence of these benefits are supporting the growth of the market. In context to region, North America can be seen to occupy a prominent market position. The market share held by North America is resultant of the presence of several technology support providers and the presence of advanced techniques.
Key participants Huawei Technologies Co.Ltd, NEC Corporation, IBM Corporation, Siemens AG, Schneider Electric Se, Honeywell International, Inc., Johnson Controls, Oracle Corporation, Winhotel Solution S.L., and Infor, Inc.
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Further key findings from the report suggest
For the purpose of this report, global smart hospitality market according to Service, Software, Deployment Mode, End-user, and Region:
Service Type Outlook (Revenue, USD Billion; 2017-2027)
Software Type Outlook (Revenue, USD Billion; 2017-2027)
Deployment Model Type Outlook (Revenue, USD Billion; 2017-2027)
End-User Type Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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