Smart Hospitality Market will Reach USD 52.88 Billion, Expanding at a CAGR of 21.63% during the Forecast Period of 2027

Market Size – USD 11.21 Billion in 2019, Market Growth – CAGR of 21.63%

NEW YORK CITY, NEW YORK, USA, September 14, 2022 /EINPresswire.com/ — The global smart hospitality market is forecast to reach USD 52.88 Billion by 2027, according to a new report by Reports and Data. Automation has been a topic of much interest in the hospitality industry over the past few years. Automation solutions can enhance the in-room experience of hotel guests and improve the energy and operational efficiency of the hotel, which will, in turn, be beneficial for the brand loyalty. The automation system in these hotels not only provides luxurious guest experience, but it is also helpful for operational activities like energy savings, centralized management, and asset maintenance, among others. Security is a major concern in the hotel business. Safety in building can be ensured with RFID cards with security codes. With the help of alarms, the security level can be enhanced by sending signals instantly to the monitoring computer. Remote Management of Rooms is another significant advantage of this type of hospitality. Many smart hotels are developing apps that allow guests to use their smartphones to effortlessly control lighting, door locks, HVAC, entertainment, and window shades irrespective of their location in the hotel rooms or outside. These remote monitoring features are also advantageous for hotel staff wherein; they can remotely change temperature settings or turn lights off in a room after guests check out. This technology is also useful in reducing downtime and expect maintenance needs. Thus the presence of these benefits are supporting the growth of the market. In context to region, North America can be seen to occupy a prominent market position. The market share held by North America is resultant of the presence of several technology support providers and the presence of advanced techniques.

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Top Profiled in the Smart Hospitality Market Report:
• Co.Ltd
• NEC Corporation
• IBM Corporation
• Siemens AG
• Schneider Electric Se
• Honeywell International
• Johnson Controls
• Oracle Corporation

Market Segmentation:
Service Type Outlook (Revenue, USD Billion; 2017-2027)
• Managed Services
• Professional Services

Software Type Outlook (Revenue, USD Billion; 2017-2027)
• Integrated Security System
• Hotel Operation Management System
• Hotel Building Automation System
• Integrated Communication Technology Solutions
• Guest Service Management System

Deployment Model Type Outlook (Revenue, USD Billion; 2017-2027)
• On-Demand
• On-Premises

End-User Type Outlook (Revenue, USD Billion; 2017-2027)
• Heritage and Boutique Hotels
• Business Hotels
• Resorts and Spas
• Others

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Key Takeaways of the Smart Hospitality Market Report:
• A comprehensive overview of the global Smart Hospitality industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the Smart Hospitality Market.
• Elaborate study of the leading regional markets in the Smart Hospitality Market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.

Key Regional Markets Covered in the Report:
• North America
o U.S.
o Canada
o Mexico

• Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Latin America
o Brazil
o Rest of Latin America

• Middle East & Africa
o Saudi Arabia
o U.A.E.
o Israel
o Rest of Middle East & Africa

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Tushar Rajput
Reports and Data
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