U.S. Smart Hospitality Market, By Offering (Solution, Service), Deployment (Cloud, On-Premise), Hotel Type (Business Hotels, Heritage & Boutique Hotels, Resorts & Spas, Others), Industry Trends and Forecast to 2028
Market Analysis and Insights: U.S. Smart Hospitality Market
The U.S. Smart hospitality market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 20.4% in the forecast period of 2021 to 2028 and is expected to reach USD 10,126.41 million by 2028.
Smart hospitality solutions refer to the incorporation of advanced technologies to automate the hotel management process and guest room control for enhancing the guest experience and streamlining the operational process in a hotel. The smart hospitality solutions make use of internet connected devices or the IoT devices capable of communicating and interacting among one another. This enables sharing and processing of real time data to get insights used for enhancing the customer experience. Smart hospitality offers personalization to guests, easy facility access solutions, easy check-in & check-out solutions, food ordering platforms, staff interaction platforms, room automations and monitoring among others.
The major factors driving the growth of the U.S. smart hospitality market are increasing demand for guest experience management and a surge in the application of IoT devices to offer seamless experience. Moreover, growing need of energy management in hotels and resorts is boosting the growth of the market. High cost of deployment and incorporation is acting as major restraint for the growth of the market. Surge in BYOD trends across hospitality industry and developing predictive maintenance tools to eliminated failures and reduce cost are creating new window of opportunities for the growth of the market. Nevertheless, guest data protection from data breaches is a major challenge for companies while designing.
This smart hospitality market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
U.S. Smart Hospitality Market Scope and Market Size
The U.S. smart hospitality market is segmented on the basis of offering, deployment, and hotel type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of offering, the U.S. smart hospitality market is segmented into solution and service. In 2021, solution segment is expected to dominate the market as smart hospitality solutions provide a wide range of benefits, such as providing security to guest and staff, reducing operational cost, and offering better guest experience.
- On the basis of deployment, the U.S. smart hospitality market is segmented into cloud and on-premise. In 2021, the cloud segment is expected to dominate the market as cloud-based deployment smart hospitality software and solutions reduce the cost associated with purchasing, servicing, and powering of server-class machines. Moreover, the business can scale up or scale down the operation and storage needs quickly to suit the required situation, allowing flexibility as per the needs change.
- On the basis of hotel type, the U.S. smart hospitality market is segmented into business hotels, heritage and boutique hotels, resorts and spas, and others. In 2021, the business hotels segment is expected to dominate the market as business hotels have high occupancy throughout the year and even during weekdays as business travellers tend to stay during the week.
The Rising Demand of Smart Hospitality Solutions
U.S. smart hospitality market also provides you with detailed market analysis for country growth in installed base of different kinds of products, impact of technology using lifeline curves and changes regulatory scenarios and their impact on the U.S. smart hospitality market. The data is available for historic year 2019.
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, U.S. presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Smart hospitality market.
Some of the major players operating in the U.S. intelligent hospitality market are Telkonet, Inc., INTELITY, Wirepath Home Systems, LLC, dba Control4, Lutron Electronics Co., Inc, React Mobile, Inc., SABRE GLBL INC., Springer-Miller Systems, SEKURETRAK INC., WiSuite, HOSPITALITY NETWORK, LLC., Enseo, Leviton Manufacturing Co., Schneider Electric, IBM Corporation, ASSA ABLOY, BLUIP, INC., dormakaba Group, GuestTouch Inc., Infor, Siemens, SAMSUNG, DigiValet, Oracle, Cisco, Honeywell International Inc., Johnson Controls, BuildingIQ, INTEREL, Verdant (A subsidiary of Emerson Electric Co.) among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In September 2020, React Mobile, Inc. and CommScope entered into a partnership to develop new employee safety solution. The partnership aims to integrate CommScope’s Ruckus wireless access points with integrated Internet-of-Things and React Mobile, Inc.’s employee safety devices. The move was aimed at ensuring employee safety during the pandemic period in hotels. This helped the company to enhance its presence in the U.S. hospitality market.
- In April 2020, Springer-Miller Systems announced the new add-on to its WorldNXT Lodging Booking Engine solution, iCal Sync for Vacation Rental Channels. This made it easy for the properties to make the availability information of vacation rental through channels. The availability calendars were accessed by vendor such as HomeAway and Airbnb, using “iCal links” to import unit type or individual unit availability calendars, and sync them with these vacation rental providers. This enabled the resorts to increase their reach to the potential guests.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for U.S. smart hospitality market through expanded product range.