Global Hotel and Hospitality Management Software Market Report 2023: Rising Number of Cloud-based Hotel Management Software Installations Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Hotel and Hospitality Management Software Market by Type" report has been added to ResearchAndMarkets.com's offering.

The global hotel and hospitality management software market size reached US$ 3.34 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 4.64 Billion by 2028, exhibiting a CAGR of 5.63% during 2022-2028.

Companies Mentioned

• Cloudbeds
• Guestline Ltd.
• Infor Inc
• Intertec Systems
• Johnson Contruls
• NEC Corporation
• Oracle Corporation
• Sabre Corporation
• Sage Group Plc
• Schneider Electric SE
• Siemens AG
• Workday Inc.

The rising number of cloud-based hotel management software installations, considerable growth in the tourism sector, and numerous technological advancements in the hotel and hospitality infrastructure represent some of the key factors driving the market.

Hotel management software system refers to the software that is used to assist in and simplify numerous hotel and hotel-based recreational operations with the help of automation. Through the use of a central computer software, the hotel staff is able to manage properties, handle equipment, legality and maintenance, all within the framework of a centralized management system. The system encompasses back-office, reservations, front-office, housekeeping, guest check-in and check-out, point of sale transactions, maintenance, and billing operations.

Additionally, it enhances the customer experience through the use of customer relationship marketing (CRM) customized specifically for hotel groups and independent hotels, motels, resorts, restaurants, bed and breakfasts (B&B), guest houses, serviced apartments, and vacation rental homes. Furthermore, it assists in automating the management of inventory and guest interactions as well as the queue management processes. Continual innovations, such as remote check-in, mobile room keys, and room reservations, are resulting in increased popularity of hotel management software.

Hotel and Hospitality Management Software Market Trends:

Considerable growth in the tourism industry resulting in an increased burden of hotel management operations on the global level is acting as a significant driver for the market growth. This can be attributed to the increasing number of hotel chains and affordable stays across popular tourist destinations across the globe.

In addition to this, the increasing adoption of online reservations, customer relationship management, and monetary transactions is resulting in a higher uptake of hotel and hospitality management software. Moreover, the escalating demand for cost-effective software as a service (SaaS)-based hotel management software to enhance operational efficiencies and maintain positive customer engagement is impacting the market positively.

Besides this, the widespread adoption of smart devices, such as smartphones, tablets and laptops, among the consumers is leading to the augmenting demand for compatible management software for connecting them with the hotel infrastructure. The market is further propelled by the strategic partnerships, collaboration, and numerous mergers and acquisitions (M&As) by various key players.

Apart from this, the rising integration of advanced technologies, such as the internet of things (IoT), artificial intelligence (AI) and machine learning (ML), with these software solutions is creating lucrative opportunities in the market. Some of the other factors contributing to the market include rapid urbanization, inflating disposable income levels and extensive research and development (R&D) activities.

Key Market Segmentation:

The analyst provides an analysis of the key trends in each segment of the global hotel and hospitality management software market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, hotel type and deployment.

Type Insights:

• Hotel Operation Management System
• Integrated Security System
• Hotel Building Automation System
• Guest Service Management System
• Integrated Communication Technology Solutions

The report has provided a detailed breakup and analysis of the hotel and hospitality management software market based on the type. This includes hotel operation management system, integrated security system, hotel building automation system, guest service management system, and integrated communication technology solutions.

Hotel Type Insights:

• Business Hotels
• Heritage and Boutique Hotels
• Resorts and Spas

The report has provided a detailed breakup and analysis of the hotel and hospitality management software market based on the hotel type. This includes business hotels, heritage and boutique hotels, and resorts and spas. According to the report, business hotels represented the largest segment.

Deployment Insights:

• Cloud-based
• On-premises

A detailed breakup and analysis of the hotel and hospitality management software market based on the deployment has also been provided in the report. This includes cloud-based and on-premises. According to the report, on-premises accounted for the largest market share.

Key Questions Answered in This Report:

• How has the global hotel and hospitality management software market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global hotel and hospitality management software market?
• What are the key regional markets?
• Which countries represent the most attractive hotel and hospitality management software markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the hotel type?
• What is the breakup of the market based on the deployment?
• What is the competitive structure of the global hotel and hospitality management software market?
• Who are the key players/companies in the global hotel and hospitality management software market?

For more information about this report visit https://www.researchandmarkets.com/r/rj430b

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