Global Smart Hospitality Market Report 2023: Rising Demand for Enhanced Smart IoT-based Solutions is Expected to Propel Growth

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May 15, 2023, 12:45 ET

DUBLIN, May 15, 2023 /PRNewswire/ -- The "Smart Hospitality Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global smart hospitality market is expected to grow from $14.30 billion in 2022 to $18.31 billion in 2023 at a compound annual growth rate (CAGR) of 28.1%. The smart hospitality market is expected to grow to $47.34 billion in 2027 at a CAGR of 26.8%.

Major players in the smart hospitality market are Cisco Systems Inc., Honeywell International, IBM Corporation, Johnson Controls, NEC Corporation, Oracle Corporation, Schneider Electric SE, Siemens AG, Infor, Huawei Technologies, Qualsoft Systems Pvt. Ltd., Samsung, BuildingIQ, WiSuite, and Cloudbeds.

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The smart hospitality market refers to hospitality services in which smart electronic devices powered by the Internet of Things (IoT) , automation, and artificial intelligence are used to control various functions and activities. It allows users to handle and control multiple services remotely. The primary purpose is to increase employee efficiency and advance guest service facilities and experience.

The main offerings of smart hospitality solutions and services. The solutions offering refers to providing solutions such as hospitality consulting, hotel development, event management, spa and fitness development, and hospitality recruitment. The smart hospitality is deployed on cloud and on-premises in hotels, cruise, and luxury yachts.

The smart hospitality market research report is one of a series of new reports that provides smart hospitality market statistics, including smart hospitality industry global market size, regional shares, competitors with a smart hospitality market share, detailed smart hospitality market segments, market trends and opportunities, and any further data you may need to thrive in the smart hospitality industry. This smart hospitality market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Technological innovations are the key trend gaining popularity in the smart hospitality market. Major companies operating in the smart hospitality market focus on providing advanced solutions and tools to strengthen their market position. For instance, in January 2022, LG, South-Korea based multinational conglomerate corporation, launched LG CLOi ServeBot. This serveBot is the world's first commercial service robot certified by UL 3300 for safe operation in multifaceted commercial environments such as restaurants, retail stores, and hotels. The semi-autonomous CLOi ServeBot provides businesses with an effective way to provide enhanced hospitality service.

North America was the largest region in the smart hospitality market in 2022. The regions covered in the smart hospitality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the smart hospitality market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The growing demand for enhanced smart IoT-based solutions is expected to propel the growth of the smart hospitality market. The internet of things (IoT) is a connected network that has the potential to significantly alter how hotels, resorts, cruise ships, casinos, restaurants, and other leisure services work.

When IoT is combined with technologies such as user mobility and data analytics, a new paradigm in hospitality is created in which businesses collect data, interact with users, and automate processes to improve guest experiences. This adoption of IoT-based solutions improves processes by lowering operating costs, increasing productivity, and developing new services.

For instance, according to an article published by McKinsey & Company, a management consulting company, the global number of IoT-connected devices is expected to increase to 43 billion by 2023, nearly tripling from 2018. Therefore, the increase in the growing demand for enhanced smart IoT-based solutions will drive the smart hospitality market.

Key Topics Covered:

1. Executive Summary

2. Smart Hospitality Market Characteristics

3. Smart Hospitality Market Trends And Strategies

4. Smart Hospitality Market - Macro Economic Scenario
4.1. COVID-19 Impact On Smart Hospitality Market
4.2. Ukraine-Russia War Impact On Smart Hospitality Market
4.3. Impact Of High Inflation On Smart Hospitality Market

5. Smart Hospitality Market Size And Growth
5.1. Global Smart Hospitality Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Smart Hospitality Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Smart Hospitality Market Segmentation
6.1. Global Smart Hospitality Market, Segmentation By Offering, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Solution
Services

6.2. Global Smart Hospitality Market, Segmentation By Deployment Mode, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Cloud
On-Premises

6.3. Global Smart Hospitality Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Hotel
Cruise
Luxury Yachts
Other End-Users

7. Smart Hospitality Market Regional And Country Analysis
7.1. Global Smart Hospitality Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Smart Hospitality Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/f698wl

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