Reportocean.com “Hotel and Hospitality Management Software Market” report has been added to its Research Database.
Hotel and Hospitality Management Software Market By Hotel Type (Business Hotels, Heritage and Boutique Hotels, and Resorts and Spas); By Type (Hotel Operation Management System, Integrated Security System, Hotel Building Automation System, Guest Service Management System, and Integrated Communication Technology Solutions); By Deployment Type (On-premises, SaaS-based)Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022
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The report covers forecast and analysis for the hotel and hospitality management software market on a global and regional level
The report includes the drivers and the restraints that affect the growth of the market
Detailed information about the market opportunities are discussed
The key target audience for the market has been determined in the report
The revenue generated by the prominent industry players has been analyzed in the report
The market numbers have been calculated using top-down and bottom-up approaches
The hotel and hospitality management software market has been analyzed using the Porters Five Forces Analysis
The market is segmented on the basis of hotel type, type, deployment type which in turn is bifurcated on regional level as well
All the segments have been evaluated based on the present and the future trends
The report deals with the in-depth quantitative and qualitative analyses of the hotel and hospitality management software market
The report includes detailed company profiles of the prominent market players
The hospitality industry is growing at around 4.3% per year versus 3.0% for the total global economy. Hotel management software is a technology that allows hotel operators and owners to streamline their administrative tasks while also increasing their bookings in both the short- and long-term. The rapidly changing trends in consumer behavior and technology are expected to open new markets and opportunities.
The global hotel and hospitality management software market was valued at around USD 2,800 million in the year 2016 and it is expected to reach approximately USD 4,300 million by 2022. The global hotel and hospitality management software market is expected to grow at a CAGR of over 6.5% between 2017 and 2022.
Drivers and Restraints
The rapid growth in the tourism and hospitality industry has played a major role in driving the hotel and hospitality management software market. Increased adoption of the hotel and hospitality management software is expected in the coming years owing to the increasing need to minimize the expenditure and the operational costs. The other benefit of using the software is that it reduces the dependency on the manual processes.
The efficiency of the software may get hampered owing to factors such as power outages, virus attacks, and others thus limiting the market growth.
In terms of revenue, business hotels dominated the market, accounting for around 47.5% of global hotel hospitality market share in 2016. Business hotels offer the guests with the facilities such as unified communication capabilities that enable the guests to conduct meetings and conferences thus attracting more number of guests. Business hotels deploy different building automation system and mobile device-enabled technologies to provide a mesmerizing experience to the guests.
The guest service management system is anticipated to grow at the highest CAGR of over 7% during the forecast period. Increasing demand for automated real-time optimized guest services and the rise of demographic growth are expected to propel the market growth in the near future.
Data privacy and security offered by on-premise application software is expected to provide opportunities for the growth of the market. The on-premises segment was the leading segment and it accounted for around 64.60% share of total revenue generated in 2016. This growth is mainly due to the increasing adoption of on-premises application software on account of rising in need to improve business productivity.
The Asia Pacific hotel hospitality software market was valued at USD 970.28 Million in 2014. The increasing adoption of the cloud-based hotel management software which is a great time saving for organizations of any size is triggering the growth of the market in this region.
The global hotel and hospitality management software market report profiles some of the leading players in the market and analyzes their key strategies. The major players in the market are Johnson Controls, Jonas Software, NEC Corporation, Oracle Corporation, Protel hotel software GmbH., Schneider Electric, Siemens AG. Sabre, Trawex, Winhotel Solution, WINSAR, ASSD, Cisco Systems, Inc., eZeeFrontDesk, Huawei Technologies Co. Ltd., Honeywell International, Inc., IBM Corporation, Infor, Intertec Systems, and Iris Software Systems Limited.
The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their product portfolio; for instance, in April 2017 Infor acquired Birst Inc.
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