Smart Hospitality Management Market study with major key players analysis

 Market Overview

Smart hospitality management is a digital IT-enabled system that is used for optimizing customer experience and hotel operations. Smart hospitality management solutions include services such as room automation, automated lighting management, and real-time HVAC control among others, which provides great hospitality experience to the guests. Moreover, smart hospitality management also helps to optimize the cost of operations by providing real-time data such as billing and sales report, reservation, and departure of guests among others.

High investment cost involved in the implementation of smart hospitality management solutions is a major factor that is expected to restrain growth of the market. Moreover, lack of technically-skilled personnel and communication technology infrastructure can hinder growth of the smart hospitality management market.

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Market Dynamics

Increasing global competition and changing business scenarios are continuously driving hotel and resort operators to focus on improving customer services. As a part of improving customer services, hotel operators started offering advanced solutions such as online room selection, room temperature control, and smart robots for customer service to attract new customers. Moreover, hotels are introducing new automated technologies to lure customers. For instance, in 2018, first fully automated hotel Smart LYZ was opened in China. The hotel provides fully automated services right from check-in to check out. The customer needs to verify his or her mobile number at the entry and the hotel has robots that carry food or any other requests made by hotel guests till their room. Moreover, the operators started implementing smart hospitality management solutions such as building energy optimization, automation for facility & emergency response management, water management, and parking management for improving operational efficiency of hotels. All the aforementioned factors are aiding in growth of the smart hospitality management market.

On the basis of region, the global smart hospitality management market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. In 2018, North America region accounted for the largest share in the smart hospitality management market and is expected to hold a dominant position in the market over the forecast period.

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Some of the key players operating in the global smart hospitality management market include Cisco Systems, Schneider Electric, Siemens AG, IBM Corporation, Schneider Electric, Honeywell International, Infor Inc., Siemens AG, Oracle Corporation, Huawei Technologies, Johnson Controls, and NEC Corporation.

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