Edison, NJ -- (SBWire) -- 06/02/2020 --A new independent 200 page research with title 'Global Smart Hospitality Market Size study with COVID-19 Impact, by Software (Hotel Operation Management System, Hotel Building Automation System, Integrated Communication Technology Solutions, Guest Service Management System), Service (Professional, Managed), Hotel Type (Business, Heritage & Boutique, Resorts & Spas) and Regional Forecasts 2020-2026' guarantees you will remain better informed than your competition. The study covers geographic analysis that includes regions like Asia Pacific, North America, Europe, Latin America and Rest of the World. North America and important players/vendors such as Schneider Electric SE (Rueil-Malmaison, France), Siemens AG (Munich, Germany), IBM Corporation (New York, U.S.), BuildingIQ (California, U.S.)etc. With n-number of tables and figures examining the Smart Hospitality Market, the research gives you a visual, one-stop breakdown of the leading products, submarkets and market leader's market revenue forecasts as well as analysis to 2026
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Summary
Global Smart Hospitality Market is valued approximately USD 11.43 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 21.21 % over the forecast period 2019-2026. Smart hospitality involves the use of advanced technologies to aid the hospitality industry. These he automated software and smart solutions can help customers to plan trips, book hotels rooms according to their choice. This has brought a revolution in the hospitality sector. As with the growing penetration of connected devices and rising use of smart phones access to these smart solutions becomes easy driving the market towards growth.
Furthermore, customers prefer to pre-plan, pre-book their travel and hotels which is done easily through these solutions. Hence growing adoption of smart phones have propelled market players to adopt Smart Hospitality solutions. Moreover, surging demand for real time optimized guest experience management further fuels the market growth. As with the shift of the market towards customer satisfaction, the need to cater to customer needs on time is increasing which can be done through the use of these smart and real time solutions. However, high initial cost of deployment and limited availability impedes the growth of the market over the forecast period of 2020-2026.
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Further, the spread of the COVID-19 has brought a large scale disruption in the tourism market. As with the surging pandemic travel restrictions have been imposed by governments since January 2020 across the globe to stop the spread of the disease. This has closed majority of the tourist places across the globe. As per the report by the World Tourism Organization, 96% of all worldwide destinations have introduced travel restrictions in response to the pandemic as of as of 6 April, 2020.Of these around 90 destinations are completely or partially closed for tourists. This restriction on travel and tourist places have brought a steep decline in the bookings and check in in hotels.
Major market player included in this report are:
Schneider Electric SE (Rueil-Malmaison, France), Siemens AG (Munich, Germany), IBM Corporation (New York, U.S.), BuildingIQ (California, U.S.), Honeywell International Inc. (New Jersey, U.S.), Winhotel Solutions (Balearic Islands, Spain), Cisco Systems, Inc. (San Jose, U.S.), Oracle Corporation (California, U.S.), Huawei Technologies Co. Ltd (Shenzhen, China), Johnson Controls International plc (Wisconsin, U.S.)
The detailed segments and sub-segment of the market are explained below:
By Software:
Hotel Operation Management System
Hotel Building Automation System
Integrated Communication Technology Solutions
Guest Service Management System
By Service:
Professional
Managed
By Hotel Type:
Business
Heritage & Boutique
Resorts & Spas
By Region:
North America, U.S., Canada, Europe, UK, Germany, Asia Pacific, China, India, Japan, Latin America, Brazil, Mexico, Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Smart Hospitality Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Smart Hospitality Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Smart Hospitality Market Dynamics
3.1. Smart Hospitality Market Impact Analysis (2018-2026)
Chapter 4. Global Smart Hospitality Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Hospitality Market, by Software
Chapter 6. Global Smart Hospitality Market, by Service
....Continued
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