Hotel and Hospitality Management Software Market Growth, Overview 2023-2028

 

The latest research study "Hotel and Hospitality Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global hotel and hospitality management software market size reached US$ 3.34 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.64 Billion by 2028, exhibiting a growth rate (CAGR) of 5.54% during 2023-2028. 

What is Hotel and hospitality management software?

Hotel and hospitality management software represents a system that is used to simplify various hotel and hotel-based recreational operations with the help of automation. It assists hotel staff in managing properties and handling equipment, legality, and maintenance all within the framework of a centralized system. This software generally comprises reservations, front-office, back-office, housekeeping, guest check-in and check-out, point-of-sale transactions, billing operations, etc. It improves the experience of individuals via the use of customer relationship marketing (CRM) that is customized specifically for motels, resorts, restaurants, hotel groups and independent hotels, bed and breakfasts (B&B), guest houses, serviced apartments, vacation rental homes, etc. Consequently, hotel and hospitality management software is gaining extensive traction across the globe.

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Hotel and Hospitality Management Software Market Trends and Drivers:

The expanding tourism industry is primarily driving the hotel and hospitality management software market. Additionally, the widespread adoption of customer relationship management, online reservations, and monetary transactions is further catalyzing the market growth. Besides this, the growing number of hotel chains and affordable stays across popular tourist destinations and the escalating demand for cost-effective software as a service (SaaS)-based hotel management systems to enhance operational efficiencies are acting as significant growth-inducing factors.

Moreover, the increasing usage of smart devices, such as smartphones, tablets, laptops, etc., among consumers is also stimulating the need for compatible management software to connect them with hotel infrastructures, which is positively influencing the global market. Apart from this, the rising integration of advanced technologies, including Artificial Intelligence (AI), the Internet of Things (IoT), Machine Learning (ML), etc., with these software solutions is bolstering the market growth. Furthermore, extensive investments by key market players in R&D activities are anticipated to fuel the hotel and hospitality management software market over the forecasted period.

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 Hotel and Hospitality Management Software Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:
Cloudbeds

  • Guestline Ltd.
  • Infor Inc
  • Intertec Systems
  • Johnson Contruls
  • NEC Corporation
  • Oracle Corporation
  • Sabre Corporation
  • Sage Group Plc
  • Schneider Electric SE
  • Siemens AG
  • Workday Inc., etc.

The report has segmented the market on the basis of end use industry.

Type Insights:

  • Hotel Operation Management System
  • Integrated Security System
  • Hotel Building Automation System
  • Guest Service Management System
  • Integrated Communication Technology Solutions

The report has provided a detailed breakup and analysis of the hotel and hospitality management software market based on the type. This includes hotel operation management system, integrated security system, hotel building automation system, guest service management system, and integrated communication technology solutions.

Hotel Type Insights:

  • Business Hotels
  • Heritage and Boutique Hotels
  • Resorts and Spas

The report has provided a detailed breakup and analysis of the hotel and hospitality management software market based on the hotel type. This includes business hotels, heritage and boutique hotels, and resorts and spas. According to the report, business hotels represented the largest segment.

Deployment Insights:

  • Cloud-based
  • On-premises

A detailed breakup and analysis of the hotel and hospitality management software market based on the deployment has also been provided in the report. This includes cloud-based and on-premises. According to the report, on-premises accounted for the largest market share.

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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