The global smart hospitality market size is expected to reach USD 110.08 billion by 2030, according to a new study by Polaris Market Research. The report " Smart Hospitality Market Share, Size, Trends, Industry Analysis Report, By Offering; By Deployment Mode (Cloud and On-premises); By End-Use (Hotels, Cruise, Luxury Yachts and Others); By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
By offering a more personalized travel experience, hoteliers can forge a lasting, and increase the chance that they will write a positive review. Creating a distinctive visitor experience increases revenue while enhancing brand reputation and customer loyalty. Through new smart hospitality solutions, hotels have access to data-driven insights and customer behavior to enhance the customer experience through better service to every guest.
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Over the projection period, the growing adoption of various advanced technologies in the hospitality industry, using 5G, IoT, and A.I., is anticipated to create revenue-generating opportunities. For example, in April 2020, Huawei and intercontinental joined forces to construct first 5G-enabled smart hotel, giving guests an extraordinary experience by providing robust 5G network with connected terminals.
As a result, it is anticipated that adopting such cutting-edge technology would drive growth in the global market. These slashing smart hospitality solutions help hotels improve the quality of their services while improving the guest experience. As a result, there will likely be a greater need for smart hospitality solutions, which will fuel the expansion of the market.
Smart Hospitality Market Report Highlights
Polaris Market Research has segmented the smart hospitality market report based on offering, deployment, end use, and region:
Smart Hospitality, Offering Outlook (Revenue - USD Billion, 2018 - 2030)
Smart Hospitality, Deployment Mode Outlook (Revenue - USD Billion, 2018 - 2030)
Smart Hospitality, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Smart Hospitality, Regional Outlook (Revenue - USD Billion, 2018 - 2030)