Smart Hospitality Market

Industry Overview

The global smart hospitality market size was valued at USD 14.7 billion in 2023. It is likely to grow up to USD 57.5 billion by 2030 at a CAGR of 25.8% during the forecast period ranging between 2025 and 2030. 

The growth of the market is promoted by the development in IoT technology. Integration of such advanced technology into hospitality services has streamlined operations.

Smart hospitality allows automating energy management, room controls, and other operations that enhance consumer experience and convenience. Advanced technologies are integrated into hospitality services. These technologies such as IoT, cloud computing, and AI improved customer experience and satisfaction due to customization. Smart hospitality is usually found in large resorts and reputed hotels. The primary objective of their inclusion is to promote sustainability and eco-friendly services.

Global Smart Hospitality Market Report Coverage

Report Metric	Details
Historical Period	2018 - 2023
Base Year Considered	2024
Forecast Period	2025 - 2030
Market Size in 2024	U.S.D.  14.7 Billion
Revenue Forecast in 2030	U.S.D.  57.5 Billion
Growth Rate	25.8%%
Segments Covered in the Report	By Offering, by deployment mode and by end use
Report Scope	Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Regions Covered in the Report	North America, Europe, Asia Pacific and Rest of the World

Global Smart Hospitality Market Trends/ Growth Drivers:

Growing preference for customized guest experiences

The rising trend in offering customized guest experience promotes the growth of the global hospitality market. This is facilitated by the advanced technologies such as machine learning, AI, and big data analysis. In addition, higher use of mobile apps, blockchain along with the growth in travel and tourism in developing countries and supportive government incentives promote the market growth.

Global Smart Hospitality Market Challenges

High cost of implementation

The cost of implementation smart technology in hospitality services poses significant challenge and hinders the growth of the global hospitality market. Adding to that, cost of necessary training, infrastructural improvements, data privacy concerns limit adoption and growth. Furthermore, unstable connectivity also restricts widespread adoption and growth of the market.

Global Smart Hospitality Market Opportunities

Higher preference among consumers for sustainable services

Rising demand by consumers for eco-friendly services and sustainable practices offer better growth prospects to the global smart hospitality market. This helps in meeting the set sustainability goals and environmental standards. Also, growth in travel and tourism in developing countries especially and government support also offers significant growth avenues to the industry.

Recent Developments of Key Players

Honeywell acquired Carrier Global Corporation's Global Access Solutions as a strategic move to promote their services in hospitality sector.

Oracle announced the integration of AI into its OPERA Cloud Property Management System to improve merchandising and guest engagement capabilities.

Global Travel and Tourism Market Segmentation

VynZ Research provides an analysis of the key trends in each segment of the global smart hospitality market report, along with forecasts at the regional and country levels from 2025-2030. Our report has categorized the market based on offering, deployment mode and end use.

Insight by Offering

Software solutions dominate due to higher demand

The global hospitality market is divided by offering into Software, Hardware, and Services categories. Out of them the software segment is expected to dominate due to higher demand and ability to personalize operations and improve efficiency. Their growth is further facilitated by real-time monitoring, automated interactions, and seamless integration.

Insight by Deployment Mode

Led by cloud-based solutions due to higher scalability

The global hospitality market is segmented by diverse deployment mode into On-Premises and Cloud-Based Solutions, wherein the latter shows higher growth potential in the forecast period. This is mainly due to higher scalability, cost-effectiveness, and ability to provide updates in real time. These solutions allow for seamless integration of data and centralized control of multiple properties and operations.

Insight by End Use

Luxury hotels lead due to higher adoption

According to end use, the global hospitality marketis divided into Luxury Hotels, Budget Hotels, Resorts, and other segments. Out of them, the luxury hotels segment leads the market because smart technologies are used extensively in these hotels to offer top-class service.

Global Smart Hospitality Market: Geographic Overview

North America dominates the global hospitality market due to higher investment, emphasis on luxury rooms, and developed technological infrastructure.

The AsiaPacific region is most prospective due to rapid urbanization, supportive government policies, and growth in tourism.

Europe displays consistent growth due to higher emphasis on energy-efficient and sustainable practices.

Global Smart Hospitality Market: Competitive Insight

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
                  1.2.1.    By Offering 
                  1.2.2.    By Deployment Mode 
                  1.2.3.    By End Use 
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Market Methodology
                  1.5.1.  Data Sources
                             1.5.1.1. Primary Research
                             1.5.1.2. Secondary Research
                  1.5.2.  Methodology
                             1.5.2.1. Data Exploration
                             1.5.2.2. Forecast Parameters
                             1.5.2.3. Data Validation
                             1.5.2.4. Assumptions
                  1.5.3.  Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

       3.1.    Industry Dynamics
                 3.1.1.    Market Growth Drivers
                 3.1.2.    Market Restraints
                 3.1.3.    Key Market Trends
                 3.1.4.    Major Opportunities
       3.2.    Industry Ecosystem
                 3.2.1.    Porter’s Five Forces Analysis
                 3.2.2.    Recent Development Analysis
                 3.2.3.    Value Chain Analysis
       3.3.    Competitive Insight
                 3.3.1.    Competitive Position of Industry Players
                 3.3.2.    Market Attractive Analysis
                 3.3.3.    Market Share Analysis

4.    Global Market Estimate and Forecast

       4.1.    Global Market Overview
       4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

       5.1.    By Offering 
                 5.1.1. Software
                           5.1.1.1. Market Definition
                           5.1.1.2. Market Estimation and Forecast to 2030
                 5.1.2. Hardware
                           5.1.2.1. Market Definition
                           5.1.2.2. Market Estimation and Forecast to 2030
                 5.1.3. Services
                           5.1.3.1. Market Definition
                           5.1.3.2. Market Estimation and Forecast to 2030

       5.2.    By Deployment Mode 
                 5.2.1. On-Premises
                           5.2.1.1. Market Definition
                           5.2.1.2. Market Estimation and Forecast to 2030
                 5.2.2. Cloud-Based
                           5.2.2.1. Market Definition
                           5.2.2.2. Market Estimation and Forecast to 2030

       5.3.    By End Use 
                 5.3.1. Luxury Hotels
                           5.3.1.1. Market Definition
                           5.3.1.2. Market Estimation and Forecast to 2030
                 5.3.2. Budget Hotels
                           5.3.2.1. Market Definition
                           5.3.2.2. Market Estimation and Forecast to 2030
                 5.3.3. Resorts
                           5.3.3.1. Market Definition
                           5.3.3.2. Market Estimation and Forecast to 2030
                 5.3.4. Other
                           5.3.4.1. Market Definition
                           5.3.4.2. Market Estimation and Forecast to 2030

6.   North America Market Estimate and Forecast

      6.1.    By Offering   
      6.2.    By Deployment Mode   
      6.3.    By End Use   
                6.3.1.    U.S. Market Estimate and Forecast
                6.3.2.    Canada Market Estimate and Forecast
                6.3.3.    Mexico Market Estimate and Forecast

7.   Europe Market Estimate and Forecast

      7.1.    By Offering   
      7.2.    By Deployment Mode   
      7.3.    By End Use   
                7.3.1.    Germany Market Estimate and Forecast
                7.3.2.    U.K. Market Estimate and Forecast
                7.3.3.    France Market Estimate and Forecast
                7.3.4.    Italy Market Estimate and Forecast
                7.3.5.    Spain Market Estimate and Forecast
                7.3.6.    Russia Market Estimate and Forecast
                7.3.7.    Rest of Europe Market Estimate and Forecast

8.   Asia-Pacific (APAC) Market Estimate and Forecast

      8.1.    By Offering   
      8.2.    By Deployment Mode   
      8.3.    By End Use   
                8.3.1.    China Market Estimate and Forecast
                8.3.2.    Japan Market Estimate and Forecast
                8.3.3.    India Market Estimate and Forecast
                8.3.4.    South Korea Market Estimate and Forecast
                8.3.5.    Vietnam Market Estimate and Forecast
                8.3.6.    Thailand Market Estimate and Forecast
                8.3.7.    Malaysia Market Estimate and Forecast
                8.3.8.    Rest of Asia-Pacific Market Estimate and Forecast

9.   Rest of the World (RoW) Market Estimate and Forecast

      9.1.    By Offering   
      9.2.    By Deployment Mode   
      9.3.    By End Use   
                9.3.1.    Brazil Market Estimate and Forecast
                9.3.2.    Saudi Arabia Market Estimate and Forecast
                9.3.3.    South Africa Market Estimate and Forecast
                9.3.4.    U.A.E. Market Estimate and Forecast
                9.3.5.    Other Countries Market Estimate and Forecast

10.  Company Profiles

       10.1.   Oracle Hospitality
                  10.1.1.    Snapshot
                  10.1.2.    Overview
                  10.1.3.    Offerings
                  10.1.4.    Financial Insight
                  10.1.5.    Recent Developments
       10.1.   Honeywell International Inc
                  10.1.1.    Snapshot
                  10.1.2.    Overview
                  10.1.3.    Offerings
                  10.1.4.    Financial Insight
                  10.1.5.    Recent Developments
       10.1.   Siemens AG
                  10.1.1.    Snapshot
                  10.1.2.    Overview
                  10.1.3.    Offerings
                  10.1.4.    Financial Insight
                  10.1.5.    Recent Developments
       10.1.   Huawei Technologies Co Ltd
                  10.1.1.    Snapshot
                  10.1.2.    Overview
                  10.1.3.    Offerings
                  10.1.4.    Financial Insight
                  10.1.5.    Recent Developments
       10.1.   Cisco Systems Inc
                  10.1.1.    Snapshot
                  10.1.2.    Overview
                  10.1.3.    Offerings
                  10.1.4.    Financial Insight
                  10.1.5.    Recent Developments
       10.1.   Interel
                  10.1.1.    Snapshot
                  10.1.2.    Overview
                  10.1.3.    Offerings
                  10.1.4.    Financial Insight
                  10.1.5.    Recent Developments
       10.1.   Saba Hospitality Technology Solutions
                  10.1.1.    Snapshot
                  10.1.2.    Overview
                  10.1.3.    Offerings
                  10.1.4.    Financial Insight
                  10.1.5.    Recent Developments

11.    Appendix

         11.1.    Exchange Rates
         11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.