Smart hospitality refers to the use of smart solutions and technology in hospitality to enhance the customer’s services. Smart hospitality helps customers to control the room environment remotely. Smart hospitality provides HD free-to-guest channels, Interactive TV, IPTV services and Wi-Fi for hotels. The global smart hospitality market will reach 22.83 billion USD by 2025 from 6.94 billion USD in 2018 at a CAGR of 18.54% during the period.
Growth by Region
Asia Pacific will grow at a significant rate due to the adoption of technologies related to smart hospitality. Europe dominates the market owing to technological innovations, robust internet infrastructure and increasing adoption of IOT. North America also has major share in the market due to availability of advanced technologies.
Drivers vs Constraints
The rising demand for optimized guest experience, lower operational costs is driving the market growth. The need of IOT technologies for hotel operation management, security and energy management in hospitality is driving the market growth. On the other hand, the high implementation cost and lack of skilled professionals is restraining the market.
Industry Trends and Updates
Everett launched Savvy SmartMirror, touch and voice activated, are helping to redefine the hotel guest experience.
NCR Corporation announced its Internet of Things (IoT)-enabled managed services capabilities, together with PTC, which helps hospitality optimize the availability and security of consumer interaction technologies, including self-service and mobile channels