SAN FRANCISCO, June 29, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Smart Hospitality - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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What's New for 2022?
Global competitiveness and key competitor percentage market shares
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Edition: 5; Released: January 2022
Executive Pool: 871
Companies: 33 - Players covered include Blazon Hotels; BuildingIQ; Cisco; Cloudbeds; Control4Corporation; Frontdesk; Guestline; Honeywell International Inc.; Huawei Technologies Co. Ltd.; IBM Corporation; Infor; Johnson Controls; NEC Corporation; Oracle; Qualsoft Systems Pvt. Ltd.; Samsung; Schneider Electric; Siemens; Winhotel Solution SL; WiSuite and Others.
Coverage: All major geographies and key segments
Segments: Type (Software, Services); Hotel Type (Business Hotels, Heritage & Boutique Hotels, Resorts & Spas, Other Hotel Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Smart Hospitality Market to Reach $48.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Smart Hospitality estimated at US$13.9 Billion, is projected to reach a revised size of US$48.2 Billion by 2026, growing at a CAGR of 22.6% over the analysis period. Software, one of the segments analyzed in the report, is projected to record a 21% CAGR and reach US$34.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 25.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $5.3 Billion in 2021, While China is Forecast to Reach $8.5 Billion by 2026
The Smart Hospitality market in the U.S. is estimated at US$5.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.5 Billion by the year 2026 trailing a CAGR of 22.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 20.3% and 19.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.9% CAGR.More
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SOURCE Global Industry Analysts, Inc.