Europe Smart Hospitality Market Size, Share & Industry Trends Analysis Report By Offering, By Deployment Mode (Cloud and On-premises), By End User (Hotels, Cruise, Luxury Yatches), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Smart Hospitality Market would witness market growth of 27.7% CAGR during the forecast period (2022-2028).
People in the hospitality sector have gone even farther by integrating wall maps to the internet, enabling guests to obtain details and reviews for nearby bars, restaurants, and tourist sites. Smart hotel technologies must be used with caution by individuals in the hospitality industry, especially when it comes to safeguarding client privacy. Some customer information acquired via smart hotel solutions might be helpful as long as hotels are open and follow data protection legislation.
Hotels can use digital in-room entertainment devices to enhance the visitor experience and boost revenue through smart hospitality. Different hospitality brands have the ability to adapt and tailor both their back-end solutions as well as those that help travelers have a more distinctive experience. For hotels, Smart Hospitality offers Wi-Fi, Interactive TV, IPTV services, and HD free-to-guest channels. It aids in enhancing client happiness and experience.
Smart hotels that use cutting-edge and modern technology to accommodate visitors are an example of smart hospitality. A significant smart revolution is occurring in the actual development process for these next-generation hotels. For instance, several contractors and tech companies are collaborating to develop smarter and better hotels in less time and at a lower cost. The revolution in hotel building is driven by BIM, or Building Information Modeling, technology, which is also among the most promising developments in the field of architecture, engineering, and construction.
The hospitality and tourism industry is one of the highest revenue-generating industries in the region, which contributes £66 billion in GVA and employs about 3 million people. This industry is a very crucial pillar of the UK's overall economic and social success. While the industry is among the top contributors to the UK's economy and employers, there are reasons to consider that productivity performance has room to grow. According to the government of the United Kingdom, approximately 8% of UK workers are involved in the hospitality and tourism industry. A restaurant, bar, or hotel is where 86% of the labor in the hospitality and tourism industry works.
The Germany market dominated the Europe Solution Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,786.4 million by 2028. The UK market is expected to witness a CAGR of 25.4% during (2022 - 2028). Additionally, The France market is expected to witness a CAGR of 27.4% during (2022 - 2028).
Based on Offering, the market is segmented into Solution (Property Management System, Guest Experience Management System, Integrated Security Management, Facility Management Software, Network Management Software, and Point Of Sale Software) and Services. Based on Deployment Mode, the market is segmented into Cloud and On-premises. Based on End User, the market is segmented into Hotels, Cruise, Luxury Yatches, and Others. The report also covers geographical segmentation of Smart Hospitality market. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart Hospitality Market will Hit $58.3 Billion by 2028, at a CAGR of 28.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NEC Corporation, Huawei Technologies Co., Ltd., Oracle Corporation, Samsung Electronics Co., Ltd., IBM Corporation, Cisco Systems, Inc., Siemens AG, Johnson Controls International PLC, Honeywell International, Inc. and Legrand S.A.
Scope of the Study
Market Segments Covered in the Report:
- Property Management System
- Guest Experience Management System
- Integrated Security Management
- Facility Management Software
- Network Management Software
- Point Of Sale Software
By Deployment Mode
By End User
- Luxury Yatches
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- NEC Corporation
- Huawei Technologies Co., Ltd.
- Oracle Corporation
- Samsung Electronics Co., Ltd.
- IBM Corporation
- Cisco Systems, Inc.
- Siemens AG
- Johnson Controls International PLC
- Honeywell International, Inc.
- Legrand S.A.
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