Research and Markets - Smart Hospitality Market Size to Reach $18.11 Billion by 2021, With Cisco Systems, Honeywell, Huawei, IBM & Oracle Dominating

DUBLIN, Jan 17, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Smart Hospitality Market by Software, Service, Hotel Type, Deployment Model, and Region - Global Forecast to 2021" report to their offering.

The smart hospitality market size is expected to grow from USD 5.74 Billion in 2016 to USD 18.11 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 25.8%. The major drivers for upsurge in demand for smart hospitality software and services include growing demand for real-time optimized guest experience management, luring revenue generation & low operational costs, and increasing adoption of Internet of Things (IoT) and energy management systems.

The scope of this report covers the smart hospitality market analysis by software, service, hotel type, deployment model, and region. The managed services segment is expected to grow at the highest CAGR during the forecast period. Managed services support the implementation of smart hospitality solutions across hotels.

The guest service management system is expected to grow at the highest CAGR during the forecast period due to the rise in digitization across the globe. The smart solutions enable the administrator to control the guest room by automating the temperature, lights, curtains, and other indoor components while monitoring the security & safety infrastructure and managing the outdoor components, such as parking premises, water management, waste management, inventory, and network infrastructure.

On-demand deployment model is expected to grow at the highest CAGR during the forecast period. On-demand deployment model, also referred to as Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS), enables hotels to deploy their software and services on a virtual environment. Cloud-based deployment smart hospitality software reduces the cost associated with purchasing, servicing, and powering of server-class machines. The subscription model enables the scalability for end-users with a low cost of ownership. It also ensures the integrity of data back-up while reducing the risk of expensive security breaches.

Companies Mentioned:

• Buildingiq Inc.
• Cisco Systems, Inc.
• Control4
• Honeywell International, Inc.
• Huawei Technologies Co.Ltd
• IBM Corporation
• Infor, Inc.
• Johnson Controls
• Mitel Networks Corporation
• NEC Corporation
• Oracle Corporation
• Sabre Corporation
• Schneider Electric Se
• Siemens AG
• Smartodom Automation
• Springer-Miller Systems
• Winhotel Solution S.L

Key Topics Covered:

1 Introduction 

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Smart Hospitality Market Analysis, By Type

8 Smart Hospitality Market Analysis, By Hotel Type

9 Smart Hospitality Market Analysis, By Deployment Model

10 Smart Hospitality Market Analysis, By Region 

11 Competitive Landscape

12 Company Profiles

13 Key Innovators

14 Appendix

For more information about this report visit http://www.researchandmarkets.com/research/5wt5t9/smart_hospitality

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Research and Markets

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SOURCE Research and Markets