Global Hotel and Hospitality Management Software Market to Reach $4.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Hotel and Hospitality Management Software estimated at US$3.5 Billion in the year 2020, is projected to reach a revised size of US$4.9 Billion by 2027, growing at aCAGR of 5.1% over the period 2020-2027. On-Premises, one of the segments analyzed in the report, is projected to record 5.3% CAGR and reach US$2.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the SaaS-based segment is readjusted to a revised 4.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 4.7% CAGR
The Hotel and Hospitality Management Software market in the U.S. is estimated at US$1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$862.6 Million by the year 2027 trailing a CAGR of 4.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.We bring years of research experience to this 8th edition of our report. The 130-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Delta Software
- eZee Technosys Pvt. Ltd.
- Intertec Systems LLC
- IRiS Software Systems Ltd.
- Oracle Corporation
- Protel hotelsoftware GmbH
- Sabre Corporation
- Trawex Technologies Pvt. Ltd.