Technavio, a tech-focused market research firm, has published a new report on the global hotel and hospitality management software market, which is expected to experience a slow but steady growth rate with a CAGR of more than 6% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global hotel and hospitality management software market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global hotel and hospitality management software market into the following key regions: The Americas, APAC, Europe, and MEA.
Geographical segmentation of the global hotel and hospitality management software market for 2015 (market share %)
|
Europe |
36% |
|
Americas |
33% |
|
APAC |
20% |
|
MEA |
11% |
Source: Technavio
Europe: largest revenue generating region for hotel and hospitality management software
The global hotel and hospitality management software market in Europe was valued at over USD1 billion in 2015 and will grow at a CAGR of around 6% by 2020. The recent rising in government spending on travel and tourism will boost the demand for these software solutions in the market in this region. The increasing in construction activities in the region such as hotels, restaurants, and recreational parks, will fuel the market’s growth. Several international brands are investing in the development of new hotel projects in cities like Milan, Rome, and Venice will lead to the rising demand for this software in the European market.
“The rising number of construction of upscale and luxury segments, mid-scale, budget, and economy hotel projects will help in the development of the European market. The Russian government recently invested around USD710 million for hotel construction projects in Moscow and St Petersburg. International events like the FIFA World Cup will increase the need for hotels and hospitality services in the European market,” says Amrita Choudhury, a lead analyst at Technavio, specializing in research on an enterprise application.
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Hotel and hospitality management software market in the Americas
The global hotel and hospitality management software market in the Americas was valued at around USD1 billion in 2015 and will grow at a CAGR of more than 6% by 2020. The increasing adoption of cloud-based software services across the Americas will boost the development of the market in this region. Various pure-cloud players in the hotel and hospitality software market are based in the US and are targeting the small hotels for software deployment to expand their consumer base. Recently, Infor Hospitality Management Solution signed an agreement with Boomtown Casino and Hotel in Reno, to integrate house property management system with financial information database to provide better operational solutions.
Hotel and hospitality management software market in APAC
The global hotel and hospitality management software market in APAC was valued at around USD730 million in 2015 and will grow at a CAGR of about 6% by 2020. The use of hotel and hospitality management software manage online booking through the app will help in the growth of the APAC market. Countries like India, Philippines, and Bali are investing in new luxury hotel projects to promote tourism and attract more consumers. Furthermore, the increase in government spending on travel and tourism will boost the construction activities such as hotels, restaurants, museums, national parks, and recreational parks projects in the region.
Hotel and hospitality management software market in MEA
The global hotel and hospitality management software market in MEA were valued at about USD396 million in 2015 and will grow at a CAGR of more than 5% by 2020. The increasing investment in smart city development project in the Middle East will fuel the growth of the market in this region. The government in the region in taking initiatives to promote LEED-certified boutique hotels that promote sustainable development. New construction projects in Kenya for villas, beach houses, five-star hotel, and waterparks will also contribute to the revenues in the market.
The top leading vendors operating in the global hotel and hospitality management software market are:
- Oracle
- Infor
- Protel hotelsoftware
- Sabre
Other prominent vendors in the market include ASSD, Delta Software, eZee FrontDesk, innRoad, Intertec Systems, iRiS Software Systems, Jonas Software, Trawex, and Winsar.
A more detailed analysis is available in the Technavio report titled, ‘Global Hotel and Hospitality Management Software 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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