Why Invest in this Industry | The Hotel Management Software Market Share Reach USD 5.9 Billion Globally by 2032

The hotel management software market size has witnessed substantial growth driven by the increasing demand for streamlined operations within the hotel industry.

PORTLAND, PORTLAND, OR, UNITED STATE, August 23, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Why Invest in this Industry | The Hotel Management Software Market Share¹ Reach USD 5.9 Billion Globally by 2032." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global hotel management software market was valued at USD 3.5 billion in 2023, and is projected to reach USD 5.9 billion by 2032, growing at a CAGR of 5.9% from 2024 to 2032.

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The global hotel management software market is experiencing growth due to several factors such as the increasing adoption of online reservations, customer relationship management, and monetary transactions is resulting in a higher uptake of hotel and hospitality management software. However, the high cost of software and services, and surge in security concerns restrain the development of the hotel management software market growth. In addition, the surge in a trend toward cloud-based solutions and ongoing strategies for innovative investments in developing countries are projected to provide lucrative opportunities for the hotel management software market forecast period.

The hotel management software market is segmented into type, hotel type, deployment mode, and region. On the basis of type, the market is divided into hotel operation management system, integrated security system, hotel building automation system, guest service management system, integrated communication technology solutions. As per hotel type, the market is classified into business hotels, heritage and boutique hotels, resorts and spas. On the basis of deployment mode, the market is categorized into on-premise and cloud. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on hotel type, the business hotels segment held the highest market share in 2023, accounting for nearly half of the global hotel management software market revenue, and is likely to retain its dominance throughout the forecast period. The demand for hotel management software is driven by the growing need to minimize expenditure and operational costs in hotels. Further, the other benefit of using the software is that it reduces the dependency on manual processes thereby, positively influencing the hotel management software market growth.

Based on type, the hotel operation management system segment held the highest market share in 2023, accounting for nearly one-third of the global hotel management software market revenue, and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that the hotels are constantly seeking ways to streamline operations, reduce costs, and maximize revenue. In addition, hotel operation management system offers features like centralized reservations, automated housekeeping management, and real-time data analysis, which helps achieve these goals.

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Based on deployment mode, the on-premise segment held the highest market share in 2023, accounting for three-fifths of the global hotel management software market revenue, and is likely to retain its dominance throughout the forecast period. The on-premise systems offered perceived greater control over data security. In addition, legacy hotels with specific needs might have preferred the ability to customize on-premise software to their exact workflows.

Based on region, North America held the highest market share in terms of revenue in 2023, accounting for half of the global hotel management software market revenue, and is expected to dominate in terms of revenue throughout the forecast timeframe. The aging population in North America, particularly the baby boomer generation, is a significant driver for the hotel management software market.

The major players operating in the hotel management software market include Oracle, Infor, Protel Hotelsoftware, Sabre, ASSD, Guestline Ltd, and NEC Corporation. Other players in the hotel management software market include Delta Software, eZee FrontDesk, Cloudbeds., and others.

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Key Takeaways

● The hotel management software industry study covers 20 countries. The research includes a segment analysis of each country in terms of value ($million) for the projected period.

● More than 1, 500 product literature, industry releases, annual reports, and other such documents of major hotel management software industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.

● The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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