LONDON--(BUSINESS WIRE)--The global hotel and hospitality management software market size is poised to grow by USD 2.24 billion during 2020-2024, according to a new report by Technavio, progressing at a CAGR of over 9% during the forecast period. Request Free Sample Pages
Read the 151-page research report with TOC on "Hotel and Hospitality Management Software Market Analysis Report by deployment (on-premises and SaaS-based) and geography (Europe, APAC, North America, MEA, and South America) 2020-2024".
The market is driven by the need for reduction in overall operational costs. Also, the rise in cloud integration is anticipated to further boost the growth of the hotel and hospitality management software market.
Hotels are increasingly adopting new technology to lower their expenses on document processing. Moreover, mid-to-small size hotels are streamlining their operations and controlling expenditure to increase their incomes. Hotel and hospitality management software lowers the dependency on manual record maintenance, which helps increase the overall efficiency and reduce expenses.
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Major Five Hotel and Hospitality Management Software Companies:
Amadeus IT Group SA
Amadeus IT Group SA offers a wide range of technology solutions for hotel and hospitality management through smart, cloud-native services for reservation, sales and catering, property management, and operations. Some of the key offerings include Amadeus Central Reservation System, Amadeus Channel Management - RezExchange, Amadeus Cloud Property Management, and Amadeus DirectBook, Amadeus Fraud Management.
Cisco Systems Inc.
Cisco Systems Inc. has business operations under various segments, which include infrastructure platforms, services, applications, security, and other products. The company offers Connected Hotels, which is a suite of solutions that is used to address common industry concerns about employee productivity, complicated and outdated communication systems, energy costs, and lost revenue streams.
Honeywell International Inc.
Honeywell International Inc. operates business through various segments, which include aerospace, Honeywell building technologies, performance materials and technologies, and safety and productivity solutions. The company’s key offerings for this market is the INNCOM INNcontrol 5.
Johnson Controls International Plc
Johnson Controls International Plc provides products under multiple segments: security products and services, facility systems, and services, including comfort and energy management for residential and non-residential buildings and fire detection and suppression products and services. The company’s key offerings in the market include Guest Room Management System.
NEC Corp. has business operations under various segments, which include public, enterprise, network services, system platform, global, and others. The company offers UNIVERGE 3C, a software-based communications solution that provides hotels with the latest innovations and advanced features in a single, integrated, economical solution.
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Hotel and Hospitality Management Software Deployment Outlook (Revenue, USD Million, 2020-2024)
Hotel and Hospitality Management Software Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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