Thursday, February 9, 2023

This Will Be The Value Of The Smart Hospitality Market By 2030

A new report released by ResearchAndMarket.com firm provides a detailed view of the current market dynamics and provides analysis on future market developments.

By providing a more personalized travel experience, hoteliers can create a lasting experience and increase the likelihood that they will write a positive review. Creating a distinctive visitor experience increases revenue while improving brand reputation and customer loyalty.

Through new smart hospitality solutions, hotels have access to data-driven insights and customer behavior to improve the customer experience through better service for each guest.

During the projection period, the adoption of various advanced technologies in the hospitality industry using 5G, IoT, and AI is expected to generate revenue-generating opportunities. For example, in April 2020, Huawei and Intercontinental joined forces to build the first 5G-enabled smart hotel, providing guests with an exceptional experience by providing a robust 5G network with connected terminals.

Consequently, the adoption of such advanced technology is anticipated to fuel the growth in the global market. These innovative smart hospitality solutions help hotels improve the quality of their services while enhancing the guest experience. As a result, there will be a greater need for smart hospitality solutions, thereby expanding the market.

Key Highlights of the Smart Hospitality Market Report

  • The guest experience by solutions sub-segment is expected to grow at a higher CAGR. It is the guest experience that determines the quality of service provided by the hospitality business. An unsatisfactory experience indicates that the hotel needs improvement.
  • The cloud-based segment is expected to grow rapidly. Hotels and restaurants are implementing cloud-based technologies that can change with market and business dynamics. The demand for a better guest experience, better profitability and universal accessibility for hoteliers from any remote area will drive the market.
  • In Asia-Pacific, which is expected to dominate the global market owing to its ability to handle outsourced solutions, the smart hospitality market is expected to experience significant growth. Furthermore, the extensive construction of contact centers is anticipated to further boost the expansion of the smart hospitality sector in the region in the coming years.
  • Key Actors operating in the global market of Cisco Systems, Honeywell International, IBM Corp., Johnson Controls, NEC Corporation, Oracle Corporation, Schneider Electric, Siemens, Winhotel Solutions, Huawei Technologies, Oracle, Johnson Controls, Samsung, Springer-Miller Systems, Control4, Visuite, Qualsoft Systems, Hospitality Network, Guestline, CloudBeds, FrontDesk Anywhere, Chris Lewis Group, Xie Zhu, BuildingIQ, StentTouch and others.

market dynamics

Drivers and Opportunities

  • Development of tourism and more investment in hotel projects
  • The emerging concept of workplaces in hotels

Obstacles and Challenges

  • data security
  • Solution
  • asset management system
  • Guest Experience Management System
  • Integrated Security Management
  • facilities management software
  • network management software
  • point of sale software

Smart Hospitality, End-Use Outlook (Revenue: USD Billion, 2018 – 2030)

  • hotel
  • cruise
  • luxury yacht
  • Other

Smart Hospitality, Regional Perspective (Revenue: Billion USD, 2018 – 2030)

  • North America
  • Canada
  • Europa
  • Germany
  • United Kingdom
  • France
  • Italy
  • spain
  • Russia
  • Netherlands
  • Pacific Asia
  • Porcelain
  • India
  • Japan
  • South Korea
  • Indonesia
  • malaysia
  • latin america
  • Argentina
  • Brazil
  • Mexico
  • middle east and africa
  • United Arab Emirates
  • Saudi Arab
  • israel
  • South Africa
Nation World News Desk
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