Market Size in 2021 | Market Forecast in 2028 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 12,836.20 million | USD 60,261.8 million | CAGR at 29.40% | 2021 |
FrequentlyAsked Questions
The surge in hotel construction and tourism expansion drives demand for the smart hospitality sector. The market for smart hospitality will also be driven by the rising need for guest-focused, hyperconnected personalization and real-time optimized experiences.
The global smart hospitality market size was worth USD 12,836.20 million in 2021 and is estimated to grow to USD 60,261.8 million by 2028, with a compound annual growth rate (CAGR) of approximately 29.40 percent over the forecast period.
Europe will continue leading the smart hospitality market throughout the projected period. The well-established hospitality infrastructure and growing use of artificial intelligence-based software and equipment in hospitals are credited with this.
Some of the main competitors dominating the global smart hospitality market include - Huawei, NEC, Cisco, Schneider Electric, IBM, Legrand, Honeywell, Oracle, Siemens AG, Samsung, Johnson Controls, Infor, Sabre, Leviton, Springer-Miller Systems, Gloabal Business Solutions, Control4, Hospitality Network, Wisuite, Guestline, Cloudbeds, Qualsoft Systems, Frontdesk Anywhere, Chris Lewis Group, BuildingIQ, Stayntouch, Xie Zhu (China)
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