U.S. Smart Hospitality Market, By Offering (Software, and Service), Deployment (Cloud, and On-Premise), Hotel Type (Business Hotels, Heritage and Boutique Hotels, Resorts and Spas, and Others), Application (Hotels, Cruise, Luxury Yachts, and Others) – Industry Trends and Forecast to 2031.
U.S. Smart Hospitality Market Analysis and Size
Smart hospitality market introduces innovative applications such as AI-powered guest services and IoT-enabled room guest controls. A new trend emerges with immersive virtual concierge services, enhancing experiences. This convergence of technology reshapes traditional hospitality, offering personalized services and efficient operations, setting a new standard for the industry.
Data Bridge Market Research analyses that the U.S. smart hospitality market, which was USD 4 billion in 2023, is expected to reach USD 17.65 billion by 2031, at a CAGR of 20.4% during the forecast period 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
U.S. Smart Hospitality Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Software, and Service), Deployment (Cloud, and On-Premise), Hotel Type (Business Hotels, Heritage and Boutique Hotels, Resorts and Spas, and Others), Application (Hotels, Cruise, Luxury Yachts, and Others)
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Market Players Covered
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NEC Corporation (Japan), Huawei Technologies Co., Ltd. (China), IBM (U.S.), Cisco Systems, Inc. (U.S.), Siemens (U.S.), Schneider Electric (France), Johnson Controls (Ireland), Honeywell International Inc. (U.S.), Oracle (U.S.), Infor. (U.S.), Winhotel Solution SL (Spain), WiSuite (U.S.), Qualsoft (India), SAMSUNG (South Korea), BLAZON HOTELS (U.A.E), Snap One, LLC (U.S.), Guestline (U.K.), Cloudbeds (U.S.) and Frontdesk Anywhere (U.S.)
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Market Opportunities
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Market Definition
Smart hospitality leverages innovative technologies to optimize guest experiences and streamline operations in the hospitality industry. Through intelligent solutions, it integrates digital advancements seamlessly to elevate guest satisfaction, improve efficiency, and provide a connected environment.
U.S. Smart Hospitality Market Dynamics
Drivers
- Integration with IoT Ecosystem for Seamless Connectivity
Integration with the IoT ecosystem ensures seamless connectivity among devices and services in hospitality, delivering a unified guest experience. From smart room controls to modified recommendations, this integration optimizes comfort and convenience. Guests benefit from effortless interactions while hotels enhance operational efficiency, setting new standards for modern hospitality.
- Growing Demand for Contactless Solutions
The COVID-19 pandemic has spurred the hospitality sector's adoption of contactless solutions. Mobile payments, virtual concierge services, and self-check-in kiosks are now in high demand, offering guests safer and more convenient experiences. This shift reflects a broader trend toward minimizing physical contact and enhancing hygiene protocols in the industry.
Opportunities
- Data Analytics for Operational Efficiency
Smart hospitality solutions gather extensive data on guest preferences, behaviors, and operations. Analysis of this data yields valuable insights for targeted marketing, operational efficiency improvements, and informed decision-making, enhancing guest experiences and maximizing operational effectiveness.
- Cloud-Based Management Offer Remote Monitoring
Cloud-based management platforms empower hotel staff to remotely monitor and control diverse systems, enhancing flexibility, scalability, and responsiveness to guest demands. This technology enables real-time adjustments and optimizations, ensuring seamless operations and elevated guest experiences from anywhere, anytime.
Restraints/Challenges
- Data Security and Privacy Concerns Among User
Data security and privacy concerns in the smart hospitality market hinder trust and deter potential customers. Failure to address these issues can result in reputational damage, legal penalties, and loss of customer loyalty. Compliance with regulations such as GDPR adds complexity and increases operational costs, impacting the market's growth and profitability.
- Issue in Reliability and Maintenance
Reliability issues and inadequate maintenance of smart devices in hospitality can tarnish guest experiences, leading to negative reviews and loss of business. Downtime caused by system failures undermines the perceived value of smart solutions, deterring potential customers and hindering the market's growth.
This U.S. smart hospitality market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the U.S. smart hospitality market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In November 2020, Oracle collaborated with Carmel Hotéis, Brazil's pioneering hotel, to implement Oracle Hospitality OPERA Cloud services, enhancing operational efficiency and guest service. This move strengthens Oracle's presence in the smart hospitality market by offering intuitive cloud solutions tailored to evolving guest expectations
- In July 2020, Oracle launched OPERA Cloud, a comprehensive hospitality solution merging Property Management and Sales and Event Management services. This innovation optimizes hotel workflows, fostering revenue growth and improved customer engagement. Oracle's venture underscores its commitment to advancing the smart hospitality market
- In May 2020, IBM and Red Hat unveiled edge computing solutions for the 5G era, empowering enterprises to deploy AI, IoT, and analytics at the edge. This advancement, spanning various sectors including hospitality, bolsters user experiences, positioning the companies as frontrunners in the smart hospitality market
- In March 2020, Honeywell launched the e7w Wireless EMS Thermostat, enhancing energy efficiency in guestrooms when integrated with the energy management system (EMS). This expansion of Honeywell's portfolio emphasizes usability and sustainability, aligning with the evolving demands of the smart hospitality market
U.S. Smart Hospitality Market Scope
The U.S. smart hospitality market is segmented on the basis of component, application, organization size, deployment model, and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Software
- Hotel Operation Management System
- Integrated Security System
- Hotel Building Automation System
- Guest Service Management System
- Integrated Communication Technology Solutions
- Service
Deployment
- Cloud
- On-Premise
Hotel Type
- Business Hotels
- Heritage and Boutique Hotels
- Resorts and Spas
- Others
Application
- Hotels
- Cruise
- Luxury Yachts
- Others
Competitive Landscape and U.S. Smart Hospitality Market Share Analysis
The U.S. smart hospitality market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to U.S. smart hospitality market.
Some of the major players operating in the U.S. smart hospitality market are:
- NEC Corporation (Japan)
- Huawei Technologies Co., Ltd. (China)
- IBM (U.S.)
- Cisco Systems, Inc. (U.S.)
- Siemens (U.S.)
- Schneider Electric (France)
- Johnson Controls (Ireland)
- Honeywell International Inc. (U.S.)
- Oracle (U.S.)
- Infor. (U.S.)
- Winhotel Solution SL (Spain)
- WiSuite (U.S.)
- Qualsoft (India)
- SAMSUNG (South Korea)
- BLAZON HOTELS (U.A.E)
- Snap One, LLC (U.S.)
- Guestline (U.K.)
- Cloudbeds (U.S.)
- Frontdesk Anywhere (U.S.)
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