Hotel and Hospitality Management Software Market by Deployment and Geography - Forecast and Analysis 2020-2024
Global Hotel and Hospitality Management Software Market: About this market
Technavio’s hotel and hospitality management software market analysis considers sales from on-premises and SaaS-based deployment. Our study also finds the sales of hotel and hospitality management software in APAC, Europe, MEA, North America, and South America. In 2019, the SaaS-based deployment segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as agility, scalability, and easy integration will play a significant role in the SaaS-based deployment segment to maintain its market position. Also, our global hotel and hospitality management software market report look at factors such reduction in overall operational costs, increasing requirement for large-scale client management, and rising demand for mobility. However, complications in changeover from traditional systems, increasing adoption of open-source software, and system integration and interoperability issues may hamper the growth of the hotel and hospitality management software industry over the forecast period.
Global Hotel and Hospitality Management Software Market: Overview
Reduction in overall operational costs
Hotels are increasingly adopting modern technology to lower their expenses on document processing. Moreover, mid-to-small size hotels are streamlining their operations and controlling expenditure to increase their incomes. Hotel and hospitality management software lowers the dependency on manual record maintenance, which helps increase the overall efficiency and reduce expenses. This reduction in overall operational costs will lead to the expansion of the global hotel and hospitality management software market at a CAGR of almost 9% during the forecast period.
Rise in cloud integration
The cloud-based hotel and hospital management software provide access to the application via web-based browsers, wherein the admin has previously defined the access level and processes across the organization. The user can log in to the hotel and hospitality management software simultaneously from any Internet-enabled computer or device. Cloud-based hotel and hospitality management software provides users with mobile apps for easy access and mobility. The cloud-based hotel and hospital management software provide high scalability. A cloud-based system is designed to be flexible with the expanding capacity, so a business can scale up based on the current business requirement. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global hotel and hospitality management software market during the forecast period 2020-2024, click here.
With the presence of several major players, the global hotel and hospitality management software market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hotel and hospitality management software manufacturers, that include Amadeus IT Group SA, Cisco Systems Inc., Honeywell International Inc., Johnson Controls International Plc, NEC Corp., Oracle Corp., Sabre GLBL Inc., Salesforce.com Inc., Schneider Electric SE, and Siemens AG.
Also, the hotel and hospitality management software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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