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Dublin, January 30, 2023 /PRNewswire/ — Research and Markets
“Global Smart Hospitality Market Size, Share, Industry Trends Analysis Report, By Offering, By Deployment Mode (Cloud & On-Premises), By End User (Hotels, Cruises, Luxury Yachts), By Regions, Outlook & Forecast, 2022-2028” report added of ResearchAndMarkets.com Recruitment.
The size of the global smart hospitality market is $58.3 billion By 2028, it will rise at a CAGR of 28.4% during the forecast period.
Smart hospitality is a new technology that uses internet-connected devices that are utilized in hotels and other lodging establishments and can interact or communicate with each other. This is similar to the Internet of Things (IoT), where appliances and equipment very common in hotels can send and receive data and make intelligent decisions.
Benefits of smart hospitality technology include improved guest safety with alarms and mobilization, high-speed Wi-Fi, guest voicemail and wake-up, operator and visitor booking solutions, improved staff mobility, operator and guest Includes voicemail and wake up.
one of the main forces behind the expansion of Indian The service sector is the tourism and hospitality sector. Considering its vast natural beauty, diverse environment, rich cultural and historical heritage, India I have many promises. IndiaLike many other countries, it relies heavily on tourism for its foreign exchange. According to the Indian Brand Equity Foundation, Forex revenue increased at a CAGR of 7% from 2016 to 2019, but declined in 2020 as a result of the COVID-19 pandemic.
Additionally, knowing that a Facebook user lists their marital status allows Google to more accurately tailor ads to that user on the search engine.
To make our hotel visitors feel satisfied and special, we can also use this specific data to provide personalized services tailored to their needs. The IoT platform may remember a visitor’s various comfort preferences and automatically set room lighting, temperature, window coverings, and TV channels for subsequent stays. To make visitors feel special, they will welcome you with a TV and even greet you by name when they enter the room.
COVID-19 impact analysis
The poor economic impact of COVID-19 has forced some individuals to adopt a work-from-home lifestyle. The government-imposed lockdown has forced businesses operating in the hospitality sector, including hotels, resorts, restaurants, spas and casinos, to temporarily close their operations. For a short time, travel and tourism restrictions forced the hospitality industry to shut down.
In addition, travel restrictions have significantly reduced international arrivals. As a result, the hospitality industry saw revenue decline and many hotels, fast food restaurants and spas closed entirely.
Market growth factors
Rising penetration of 5G in Hospitality department
Hotel owners are constantly looking for ways to streamline the guest experience using new digital tools and platforms. For operators, 5G has the potential to completely transform their offerings with state-of-the-art in-room and facility-to-facility services.
5G has the potential to drive the digital transformation of the hospitality sector by providing the foundational framework for connecting wireless devices, applications and people. Hotel owners should be able to communicate more effectively with their customers and learn more about their journeys thanks to 5G technology.
Personalized service is becoming more important for a better customer experience
By offering a more personalized travel experience, hoteliers can build long-lasting, value-driven relationships with every guest and increase their likelihood of leaving positive reviews.
Organizing a unique visitor experience increases brand reputation and customer loyalty in addition to generating revenue. New smart hospitality solution allows hoteliers to create her 360-degree view of every visitor and access data-backed insights and actions that can be used to improve experiences through better customer care can.
Market restraining factors
High deployment, maintenance, and training costs
Deploying complex and sophisticated hospitality systems such as property management systems (PMS), guest experience management systems, whether installed physically or online, is costly. As the hospitality industry is still recovering from huge financial losses related to the pandemic, budget constraints may make it difficult for any hotel to deploy smart hospitality solutions.
Most of the hotels using smart hospitality technologies have found that they are also very costly to maintain. Deployment costs are primarily based on the complexity and advancement of the system or service.
Main topics:
Chapter 1 Market Scope and Methodology
Chapter 2 Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Affecting the Market
2.2.1 Market Driver
2.2.2 Market Constraints
Chapter 3 Competitive Analysis – Global
3.1 Cardinal Matrix
3.2 Recent industry-wide strategic developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launch and Product Expansion
3.2.3 Acquisitions and mergers
3.3 Top Winning Strategies
3.3.1 Key Key Strategies: Proportion Distribution (2018-2022)
3.3.2 Key Strategic Moves: (Partnerships, Collaborations and Agreements: January 2020 – July 2022) Key Players
Chapter 4 Global Smart Hospitality Market by Offering
4.1 Global Solutions Market by Region
4.2 Global Smart Hospitality Market by Solution Type
4.2.1 Global Real Estate Management System Market by Region
4.2.2 Global Guest Experience Management System Market by Region
4.2.3 Global Integrated Security Management Market by Region
4.2.4 Global Facility Management Software Market by Region
4.2.5 Global Network Management Software Market by Region
4.2.6 Global POS Software Market by Region
4.3 Global Service Market by Region
Chapter 5 Global Smart Hospitality Market by Deployment Mode
5.1 Global Cloud Market by Region
5.2 Global On-Premises Market by Region
Chapter 6 Global Smart Hospitality Market by End User
6.1 Global Hotel Market by Region
6.2 Global Cruise Market by Region
6.3 Global Luxury Yacht Market by Region
6.4 Global Other Market by Region
Chapter 7 Global Smart Hospitality Market by Region
Chapter 8 Company Profile
8.1 NEC Corporation
8.1.1 Company profile
8.1.1 Financial analysis
8.1.2 Segment and Regional Analysis
8.1.3 Research and development expenses
8.1.4 Recent Strategies and Developments:
8.1.4.1 Partnerships, Collaborations and Agreements:
8.1.4.2 Product Launch and Product Expansion:
8.1.4.3 Acquisitions and mergers:
8.2 Huawei Technologies Co., Ltd.
8.2.1 Company Profile
8.2.2 Financial Analysis
8.2.3 Segment and Regional Analysis
8.2.4 Research and development expenses
8.2.5 Recent Strategies and Developments:
8.2.5.1 Partnerships, Collaborations and Agreements:
8.3 Oracle Corporation
8.3.1 Company Profile
8.3.2 Financial analysis
8.3.3 Segment and Regional Analysis
8.3.4 Research and development expenses
8.3.5 SWOT Analysis
8.4 Samsung Electronics Co., Ltd. (Samsung Group)
8.4.1 Company Profile
8.4.2 Financial analysis
8.4.3 Segment and Regional Analysis
8.4.4 Research and development expenses
8.4.5 Recent Strategies and Developments:
8.4.5.1 Partnerships, Collaborations and Agreements:
8.4.6 SWOT Analysis
8.5 IBM Corporation
8.5.1 Company Profile
8.5.2 Financial Analysis
8.5.3 Region and Segment Analysis
8.5.4 Research and development expenses
8.5.5 Recent Strategies and Developments:
8.5.5.1 Partnerships, Collaborations and Agreements:
8.5.6 SWOT Analysis
8.6 Cisco Systems, Inc.
8.6.1 Company Profile
8.6.2 Financial Analysis
8.6.3 Regional Analysis
8.6.4 Research and development expenses
8.6.5 SWOT Analysis
8.7 Siemens AG
8.7.1 Company Profile
8.7.2 Financial Analysis
8.7.3 Segment and Regional Analysis
8.7.4 Research and development expenses
8.7.5 Recent Strategies and Developments:
8.7.5.1 Partnerships, Collaborations and Agreements:
8.7.6 SWOT analysis
8.8 Johnson Controls International PLC
8.8.1 Company Profile
8.8.2 Financial analysis
8.8.3 Segment and Regional Analysis
8.8.4 Research and development expenses
8.8.5 Recent Strategies and Developments:
8.8.5.1 Partnerships, Collaborations and Agreements:
8.8.5.2 Acquisitions and mergers:
8.9 Honeywell International Inc.
8.9.1 Company Profile
8.9.2 Financial analysis
8.9.3 Segment and Regional Analysis
8.9.4 Research and development expenses
8.9.5 Recent Strategies and Developments:
8.9.5.1 Partnerships, Collaborations and Agreements:
8.9.6 SWOT Analysis
8.10. Legrand SA
8.10.1 Company Profile
8.10.2 Financial analysis
8.10.3 Regional analysis
8.10.4 Research and development expenses
8.10.5 Recent Strategies and Developments:
8.10.5.1 Product Launch and Product Expansion:
8.10.5.2 Acquisitions and mergers:
For more information on this report, please visit https://www.researchandmarkets.com/r/giwzct-smart?w=5.
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