What Has Been The Evolution of the Hospitality Property Management Software Market in Recent Years?
The hospitality property management software market has seen considerable growth due to a variety of factors.
• There has been substantial growth in the hospitality property management software market in the previous years. The market size is expected to increase from $1.22 billion in 2024 to $1.32 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%.
Factors such as the rising popularity of online travel agencies, the international expansion of the hospitality sector, increased focus on customer contentment, and government efforts can be credited for the growth observed in the past.
How Will the Hospitality Property Management Software Market?
The hospitality property management software market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of hospitality property management software is anticipated to witness significant growth in the coming years, scaling up to $1.82 billion in 2029 with a compound annual growth rate (CAGR) of 8.4%.
This projected increase during the forecast period can be linked to factors such as global expansion, the need for contactless check-ins, growing relevance of data-driven decision making, an increased demand in the real estate industry, and the rising adoption of cloud-based solutions. Major forecast trends consist of the incorporation of augmented reality (AR) and virtual reality (VR), voice-activated amenities, the usage of artificial intelligence (AI) and machine learning (ML), chatbots and virtual assistants, and the application of blockchain for enhanced security.
Which Factors Are Boosting Growth In The Hospitality Property Management Software Market?
The burgeoning tourism and travel industry is expected to fuel the advancement of the hospitality property management software market in the future. Growing tourism and traveling denote the flourishing tourism sector and the rising number of individuals traveling for pleasure, professional reasons, or other motivations. Hospitality property management software plays an instrumental role in tourism by aiding hotels and other hospitality industries in simplifying their operations and improving customer experiences. The United Nations World Tourism Organization (UNWTO), a specialized agency of the United Nations based in Spain, reported in January 2023 that over 900 million visitors traveled internationally in 2022, double the number in 2021. The Middle East observed the most significant relative growth in tourists, with the number of arrivals hitting 83% of pre-pandemic levels. Thus, growing tourism and travel are spurring the advancement of the hospitality property management software market.
Hospitality Property Management Software Market Driver: Rise in Automation Demand Fuels Hospitality Property Management Software Market Growth
What Key Areas Define The Segmentation Of The Global Hospitality Property Management Software Market?
The hospitality property management software market covered in this report is segmented –
1) By Deployment: On-Premise, Cloud
2) By Organization Size: Large Enterprises, Small And Medium Enterprises
3) By Application: Business Hotels, Resorts And Spas, Heritage And Boutique Hotels
Subsegments:
1) By On-Premise: Standalone On-Premise Systems, Integrated On-Premise Systems, Customizable On-Premise Solutions
2) By Cloud: Public Cloud Solutions, Private Cloud Solutions, Hybrid Cloud Solutions
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Which Emerging Market Trends Are Altering The Hospitality Property Management Software Industry?
In the hospitality property management software market, leading businesses are starting to concentrate on the development of integrated hotel guest engagement solutions in an effort to gain a market advantage. Integrated hotel guest engagement solutions encompass a range of tactics and technologies used by hotels to engage with guests at all stages of their visit, from before booking to after their stay. Cloudbeds Inc., a hospitality management system company from the US, exemplified this in September 2022 when they released Whistle for Cloudbeds. This comprehensive guest engagement solution provides hotels with the necessary tools to increase revenue, improve guest satisfaction, enhance internal procedures, and offer a more personalized and significant touchpoint with guests throughout their journey from discovery to post-stay. Whistle for Cloudbeds is incorporated into the Cloudbeds Hospitality Platform for a more user-friendly experience. Its tight integration enables greater interoperability and offers features like a single inbox, live chat capabilities with website and booking engine integrations, digital registration cards, guest notes, and more.
Who Are the Key Players In The Hospitality Property Management Software Market?
Major companies operating in the hospitality property management software market are:
• Oracle Corporation
• Amadeus IT Group S.A.
• Infor Inc.
• RealPage Inc.
• Agilysys Inc.
• eZee Technosys Pvt. Ltd.
• Northwind Software Inc.
• PAR Springer Miller Systems Inc.
• Hotelogix Pte. Ltd.
• innRoad Inc.
• Protel hotelsoftware GmbH
• RMS Aust Pty Ltd.
• Atulyam Hotelline Solutions Pvt. Ltd.
• Checkfront Inc.
• Cloudbeds Inc.
• Guestline Ltd.
• Guesty Inc.
• InnQuest Software Corporation
• ResNexus Inc.
• Cenium AS
• Digital Arbitrage Inc.
• World Web Technologies Inc.
• Frontdesk Anywhere Inc.
• Skytouch Solutions LLC
• Codebay Solutions Limited
• Multi-Systems Inc.
• Resort Data Processing Inc.
• Sirvoy Limited
• SutiSoft Inc.
• IQware Inc
• Shiji Group.
What Is The Most Dominant Region In The Hospitality Property Management Software Market?
North America was the largest region in the hospitality property management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in hospitality property management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
