Hotel and Hospitality Management Software Market to record USD 994.71 Mn growth -- APAC to occupy 37% market share
NEW YORK, Aug. 9, 2022 /PRNewswire/ -- The "Hotel and Hospitality Management Software Market by Deployment and Geography - Forecast and Analysis 2021-2025" report by Technavio expects the market size to grow by USD 994.71 million between 2020 and 2025. The market witnessed a YOY growth of 5.21% in 2021 and the growth momentum is expected to accelerate at a CAGR of 6.22% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download PDF Report Sample Here
Key points covered in the hospital and hospitality market study:
Post-COVID-19 impact on the market landscape.
The hospital and hospitality market is fragmented due to the presence of many regional and international players. The vendors in the market are deploying various organic and inorganic growth strategies to compete in the market. The reduction in overall operational costs has been instrumental in driving the growth of the market. However, complications in changeover from the traditional system might reduce the growth opportunities for market players.
Competitors must focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also must leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Technavio identifies 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 as major market participants.
The global hotel and hospitality software market is segmented as below:
The cloud-based segment accounted for the largest share of the market in 2021. The segment is driven by the cost-effectiveness of cloud-based solutions. The market growth in the segment will be significant during the forecast period.
37% of the market growth will originate from APAC during the forecast period. China is a key market for hotel and hospitality management software in APAC. The increasing requirement for large-scale client management has been crucial in driving the growth of the regional market. The market will observe a faster growth in APAC than in other regions over the forecast period.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. This report provides an accurate prediction of the contribution of all the segments to the growth of the superfood powders market size. View Sample Report Now
Market 2021-2025: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by Deployment
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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