The Asia Pacific Hotel and Hospitality Management Software Market is expected to grow at a compound annual growth rate (CAGR) of 8.8% in the forecast period.
The Asia Pacific Hotel and Hospitality Management Software Market are expected to grow from USD 937.9 million in the year 2015 to USD 2213.4 million in 2025 at a compound annual growth rate (CAGR) of 8.8% in the forecast period. Technology is a critical resource in today’s corporate world, which is why the hotel industry is embracing the same thing. Right from optimizing day-to-day activities to streamlining administrative procedures, hotel owners will benefit a lot from investing in technology.
Over the last decade, tourism in Asia has evolved to a great extent as a result of increased employment and growth in local economies. According to the UN World Tourism Organization, international tourist arrivals worldwide are projected to increase by 70% between 2013 and 2030, thus, reaching 1.8 billion. Hospitality and tourism sectors have emerged as the key value drivers in a competitive economy, especially in emerging economies where growth has shifted from goods and products towards the service sector
The On-premises segment is catering to a significant share in the market
On-premise software is installed locally on a hotel’s computers and servers instead of at a remote facility such as a server or cloud. On-premise software is generally priced under a one-time license fee which is based on the number of users and organization size. There is capital investment in hardware and an upfront license fee for software support, training, and updates. However, on-Premise hotel and hospitality software enables a high level of customization, offers greater control over data. The other benefits of on-premise hotel and hospitality management software are data security, back-up, and disaster recovery, and greater efficiency in operation. Further, owing to several factors, the segment acquires a significant market share.
Australia to grow at the fastest rate while China caters to the greater share of the pie
Tourism has grown enormously in the last two decades and has become one of the fastest-growing economic sectors in the world especially the hotel and hospitality sector. The year 2018 would be the beginning of the next phase of growth for hotels in Asia due to initiatives taken by various government organizations for smart hotels that include various technologies, workflows, talents, and services. Moreover, hoteliers that are having an exploratory mindset, cultivating relevant talents, and leveraging ready-to-deploy solutions are showing interest in adopting innovative solutions in the hospitality industry. According to United Nations World Tourism Organization (UNWTO), arrivals of around 324 million tourists registered in the Asia Pacific region in 2017 which is the second-highest and popular region in the world for tourism after China. Moreover, according to Grant Thornton, countries such as Thailand, Malaysia, and Indonesia in the Asia Pacific region are rapidly adopting cloud-PMS software due to younger hotel infrastructure and a high number of new hotel openings.
The report profiles several leading players of the Hotel and Hospitality Management Software markets such as Cisco Systems, Inc., Huawei Technologies Co. Ltd., IBM Corporation, Infor, Honeywell International, Johnson Controls, NEC Corporation, Oracle Corporation, Protel hotel software GmbH, Reznext, Sabre Hospitality, Schneider Electric, Travelclick, Trawex, Winhotel Solution and others. The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the Hotel and Hospitality Management Software market.
Leisure, Travel & Tourism
Information Technology and Services
Gambling & Casinos
Staffing and Recruiting
Key Question answered in the report
1. Quantitative breakdown of major regions (Americas, Europe, Asia-Pacific & Middle East & Africa)
2. In-depth analysis of major players operating in the market & perspective from the top market players
3. Deep dive analysis of the key market dynamics, market factors, and demand in the market
4. Key trend and opportunities in the market
5. Major Player market share analysis (2019)
6. Major development and strategies adopted by key players in the market
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