The Global Smart Hospitality Market is expected to grow from US$18.153 billion in 2025 to US$50.433 billion in 2030, at a CAGR of 22.67%.
The global smart hospitality market is driven by the rising internet penetration and a growing inclination towards IoT, which are encouraging the hospitality segment to offer smart solutions to their customers with the use of digital technology. Additionally, the growing use of cloud computing across the hospitality sector is contributing to the market growth of smart hospitality.
The increasing number of contractors are teaming up with different tech firms to build smarter hotels at a low cost and less time which, in turn, is positively impacting the smart hospitality market’s growth. The demand for smart hospitality is boosting to serve excellent customer service. Moreover, the demand for real-time optimized guest experience management is increasing which is strengthening the market growth of smart hospitality. For example, in some hotels, customers can use their smartphones to control the room’s environment by way of remotely opening and closing the window blinds and regulating the room temperature.
Global hotel chains are increasingly investing heavily in smart hospitality solutions, including improving customers' impressions and satisfaction. Moreover, hotel companies are also adopting smart hospitality solutions as they help to save operational costs and generate more revenue while enhancing their hospitality services to customers. In addition to this, smart hospitality solutions allow an energy-efficient management system. As such, growing environmental concerns and a rising focus on CSR among hotel companies are also ramping up the demand for smart hospitality solutions. Market players in the global smart hospitality market are using different growth strategies while maintaining their market share. For instance, in August 2021, InterContinental Shenzhen announced a strategic agreement with Huawei and China Unicom Hebei to build a 5G smart hotel, deploying more 5G applications like 5G reception robots, 5G 4k video streaming, etc.
However, the high initial costs and lack of a technically skilled workforce and working professionals are hindering the smart hospitality market growth.
The rise in the number of smart hotels is driving the segment of software and services for smart hospitality. The services are increasingly been used for integration, maintenance, and training. The software aspects of the smart hospitality market help in facility & emergency management response systems, water management, security management, and parking management. These advancements are further reducing the cost and help in saving time on these services. Hence the demand will increase for smart hospitality services.
The increasing number of smart hotels around the world with the advancement of technology is highly driving the market for smart hospitality solutions. These hotels have increased the demand for smart hospitality services by using more on-premise and cloud for better management of hotel resources and improved hospitality services. It even helps in reducing operating costs by providing energy-efficient solutions and increasing revenue. The smart hospitality solutions help in serving the guest with advanced communications technologies that assist them in conducting meetings, and conferences, and connecting with associates around the world without any hindrances. The innovative smart hospitality provides easy check-in options for hoteliers, room selection, room services, and comfortable stay which in return help hotels retain guests and earn them more revenue. The increase in demand for resorts and spas is also gaining momentum due to the increasing disposable income of people and improvement in lifestyle.
Regionally, the global smart hospitality market is classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The APAC Smart Hospitality market will witness substantial market growth during the forecast period owing to the growing investments by international hotel chains in countries like India and China in smart hospitality solutions. Furthermore, favorable government initiatives and policies to fuel the growth of the hospitality sector will also support the market growth of smart hospitality in this region during the next five years. Factors such as the increase in technological developments, internet infrastructure, increasing applications of IoT, and efficient energy consumption are also driving the market for smart hospitality in the region.
North America and Europe have a significant amount of market share in the smart hospitality market due to the presence of big hospitality companies, which are focusing on moving towards the use of advanced technologies and smart building management systems for efficient energy consumption, reducing operational costs, and providing guests with modern amenities for better services.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Smart Hospitality Market Size in 2025 | US$18.153 billion |
| Smart Hospitality Market Size in 2030 | US$50.433 billion |
| Growth Rate | CAGR of 22.67% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
|
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in the Smart Hospitality Market | |
| Customization Scope | Free report customization with purchase |
Segmentation