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Smart Hospitality refers to the usage of advanced software which smartly handles all the operational and management need of a hotel – from reservation to departure, billing to sales report and all other services as well informed in real time. This software is customizable which is beneficial for a big, medium and small chain of hotel. The hotel industry is adapting and innovating to overcome challenges such as increased competition, shortage of workforce and changing guest expectations. It is essential to leverage a;nd be conscious of how emerging technologies could augment existing solutions and processes to help optimize productivity and enhance service delivery due to this it is expected that in coming period Smart Hospitality Market will grow in a rapid rate.
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The growing demand for real-time optimized guest experience management is expected to remain the dominant force driving the need for Smart Hospitality Software. Moreover, hotel operation technology has changed over time, and Smart Hospitality helps to generate attractive revenue growth with low operational costs. Along with that emergence in IoT due to advancement in technology enabled the exchange of information among electronic devices without human help which makes the hospitality smarter. Untapped Concept of BYOD Applications within the Hospitality Industry now being widely adopted in the hospitality sector.
Top Key Vendors: NEC Corporation, Huawei Technologies Co.Ltd, IBM, Cisco, Schneider Electric, Siemens, Johnson Controls, Honeywell International Inc., Oracle, Infor
The global Smart Hospitality market is segmented on the basis of Type, Hotel Type and Deployment Model Based on Type, the market is segmented into Software and Service. On the basis of the Hotel Type the market is segmented into Business Hotels, Heritage and Boutique Hotels, Resorts and Spas and Others. On the basis of the Deployment Model the market is segmented into On-Premises and On-Demand.
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The report analyzes factors affecting Smart Hospitality market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Smart Hospitality market in these regions.
The reports cover key developments in the Smart Hospitality market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players.
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