How Has the Hotel And Hospitality Management Software Market Size Evolved in Recent Years?
The hotel and hospitality management software market has seen considerable growth due to a variety of factors.
• The hotel and hospitality management software market has grown strongly in recent years. It will increase from $3.43 billion in 2024 to $3.65 billion in 2025, achieving a compound annual growth rate (CAGR) of 6.5%.
The growth during the historical period can be attributed to the increased adoption of SaaS, rising demand for automation, greater emphasis on customer experience, the globalization of the hospitality industry, and growing regulatory compliance requirements.
What Are The Predictions for The Hotel And Hospitality Management Software Market in the Coming Years?
The hotel and hospitality management software market is expected to maintain its strong growth trajectory in upcoming years.
• The hotel and hospitality management software market is anticipated to grow significantly in the coming years, reaching $4.73 billion by 2029, with a CAGR of 6.7%.
This growth is driven by the expansion of IoT and smart technologies, the rise in contactless solutions, growing demand for data analytics, an increasing focus on sustainability, and the shift to hybrid work models. Key trends include the integration of AI and machine learning, IoT adoption, contactless solutions, advanced data analytics, and the move towards cloud-based management software.
Which Drivers Are Accelerating Growth In The Hotel And Hospitality Management Software Market?
The rapid growth of tourism is expected to propel the hotel and hospitality management software market. Tourism refers to traveling for leisure, and it has been growing due to factors like improved transportation and increased interest in cultural exchange. This rise in tourism fuels demand for hospitality management software, which streamlines operations and enhances guest experiences. In May 2023, the World Tourism Organization reported that international tourism reached $1 trillion in 2022, a 50% increase from the previous year. Therefore, rapid tourism growth is driving the hotel and hospitality management software market.
What Are The Core Segments Of The Global Hotel And Hospitality Management Software Market?
The hotel and hospitality management software market covered in this report is segmented –
1) By Type: Hotel Operation Management System, Integrated Security System, Hotel Building Automation System, Guest Service Management System, Integrated Communication Technology Solutions
2) By Deployment Type: On-premises, SaaS-Based
3) By Services: System And Integration, Professional Services, Managed Services, Other Services
4) By Hotel Type: Business Hotel, Resorts And Spas, Boutique Hotel, Other Hotels
Subsegments:
1) By Hotel Operation Management System: Property Management System (PMS), Reservation Management, Front Desk Operations, Housekeeping and Maintenance Management
2) By Integrated Security System: Access Control Systems, Surveillance Systems (CCTV), Alarm And Emergency Systems, Incident Management Software
3) By Hotel Building Automation System: Energy Management Systems, HVAC Control Systems, Lighting And Shade Control Systems, Environmental Monitoring Systems
4) By Guest Service Management System: Guest Relationship Management (GRM), Concierge Services Software, Online Booking And Check-In Systems, Guest Feedback And Review Management
5) By Integrated Communication Technology Solutions: In-Room Communication Systems (Phones, Tablets), Staff Communication Tools (Messaging Apps, Walkie-Talkies), Guest Wi-Fi Management, Integrated Messaging Platforms (SMS, Email, Chatbots)
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What Emerging Trends Are Influencing The Growth Of The Hotel And Hospitality Management Software Market?
Leading businesses in the market of hotel and hospitality management software are centering their efforts on growing advanced tech solutions like SaaS-based hospitality management platforms to strengthen their stance in the market. A cloud-based software solution is what typically defines a SaaS-based hospitality management platform, aiming to improve and streamline different aspects of operational management in the hospitality sector. To illustrate this, in December 2023, Revivo Technologies, a deep tech firm founded in India, introduced Hotel X, a SaaS powered platform focusing on hospitality management and growth. The goal of this platform is to bring about innovation in the hotel industry by offering a holistic solution for automated workflows and advancement in the hotel businesses. The use of AI for real-time reporting, tracking, and feedback based on data gives businesses an upper hand in planning for lucrative growth in the future. With its integration with top-rated online travel agencies (OTAs), Hotel X leverages AI and ML's power to incentivise revenue growth via rate improvement and expansion of sales channels. Besides, it betters the guest experience via digital onboarding procedures, check-ins enabled by QR codes or single-clicks, and a consolidated service ordering facility.
Who Are the Key Players In The Hotel And Hospitality Management Software Market?
Major companies operating in the hotel and hospitality management software market are:
• Oracle Corporation
• Schneider Electric
• NEC Corporation
• Amadeus Hospitality Inc.
• Infor Hospitality
• Sabre Corp.
• Choice Hotels International Inc.
• Travelclick Inc.
• Guesty Corp.
• eZee Technosys Pvt. Ltd.
• SiteMinder Limited (Little Hotelier)
• Protel Hotel Software GmbH
• Hotelogix PTE
• Newhotel Software
• StayNTouch Inc.
• Trawex Technologies Pvt Ltd.
• ResNexus
• WebRezPro-World Web Technologies Inc.
• The ASSD Software Company
• Clock Software Solutions Pvt.Ltd.
• Hoteliga International Sp. z o.o.
• RoomRaccoon B.V.
• Winhotel Solution Ltd.
• MyAllocator
• Clarity Hospitality Software Solutions
What Are The Regional Insights Into The Hotel And Hospitality Management Software Market?
North America was the largest region in the hotel and hospitality management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hotel and hospitality management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
