$18.11 Billion Smart Hospitality Market 2016-2021 - Analysis By Software, Service, Hotel Type, Deployment Model & Region - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Smart Hospitality Market by Software, Service, Hotel Type, Deployment Model, and Region - Global Forecast to 2021" report to their offering.

The smart hospitality market is expected to grow from USD 5.74 billion in 2016 to USD 18.11 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.8%, due to the need of Internet of Things (IoT) technology for better hotel operation management, security, energy management in hotel, and hospitality services. The restraints of the smart hospitality market include high initial cost of deployment & capacity, integration complexities over legacy systems & network, and limited availability of technically skilled personnel.

The guest service management system is expected to grow at the highest CAGR during the forecast period. The growing demand for automated real-time optimized guest services and rise of demographic growth & hyper-urbanization are estimated to drive the adoption of smart hospitality solutions across various hotel types. In addition, room automation and control systems provide guests the convenience of controlling multiple functions in their room, such as temperature, drapes, lightning, and audio/video systems using automated interfaces. The solution helps hoteliers track all the data and interaction with a customer during their visit.

On the basis of services, the managed services segment is expected to grow at the highest CAGR during the forecast period. Managed services support the implementation of smart hospitality solutions across hotels.

With regards to the geographic analysis, Europe is expected to benefit from its technological advancements, large number of smart devices, strong tourism activities, high usage of big data analytics, and predictive & sensor analytics across the hospitality industry.

Companies Mentioned:

  • Buildingiq Inc.
  • Cisco Systems, Inc.
  • Control4
  • Honeywell International, Inc.
  • Huawei Technologies Co. Ltd
  • IBM Corporation
  • Infor, Inc.
  • Johnson Controls
  • Mitel Networks Corporation
  • NEC Corporation
  • Oracle Corporation
  • Sabre Corporation
  • Schneider Electric Se
  • Siemens AG
  • Smartodom Automation
  • Springer-Miller Systems
  • Winhotel Solution S.L.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Smart Hospitality Market Analysis, By Type

8 Smart Hospitality Market Analysis, By Hotel Type

9 Smart Hospitality Market Analysis, By Deployment Model

10 Smart Hospitality Market Analysis, By Region

11 Competitive Landscape

12 Company Profiles

13 Key Innovators

14 Appendix

For more information about this report visit http://www.researchandmarkets.com/research/s9kj2w/smart_hospitality.

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Software, Hotels and Travel Accomodation

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Software, Hotels and Travel Accomodation