Hotel Management Software Market to Surge from US$ 4,259.82 Million in 2024 to US$ 8,828.69 Million by 2034 | CAGR 7.6%
Hotel Management Software Market to Surge from US$ 4,259.82 Million in 2024 to US$ 8,828.69 Million by 2034 | CAGR 7.6%
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The hotel management software market forecast for 2034 is a specialized study of the industry with a specific concentration on the global market trend analysis.
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Hotel management software is a kind of computer application or platform that permits hotel owners and managers to productively handle and interrelate all facets of their business functions. It envelopes a broad gamut of benefits, including reservations, front desk operations, housekeeping, and point of sales.
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Hotel management software is structured to mechanize and untangle the daily functioning of the hotel. These functionalities abolish the requirement of multiple systems and manual procedures. Automation technologies such as self-check-in kiosks, mechanized booking arrangements, and AI-fueled customer service instruments need consolidated management, impacting the hotel management software market growth favorably.
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Prominent market contenders are funding massively in research and development so as to augment their offerings which will assist the industry to grow even more. Here are some of the leading players in the hotel management software market:
• Agilysys NV LLC
• Cloudbeds
• Microsoft
• Oracle
• RoomRaccoon
• SAP SE
• StayNTouch
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• In August 2024, Agilysys, Inc., a prominent global donor of hospitality software solutions and services, declared it had gained Book4Time, Inc., the worldwide head in spa management SaaS software, helping more Forbes 5-star-rated spas.
• In May 2024, Mews, a prominent contender in hospitality technology and cloud-native property management systems (PMS) augments its market existence with the accession of German hotel technology solution donor HS3 hotel software.
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Enhanced Guest Participation: The market growth is pushed by growing demand for improved guest participation. Travelers globally anticipate ease, personalization, and productivity, which HMS eases by combining guest details, predisposition, and communication into a centralized system.
Growing Tourism: The escalating tourism globally is expected to push the market demand. As per the UN Tourism World Tourism Barometer, an approximated 1.1 million international tourist appearances were registered in January-September 2024, roughly 11% more than in the similar time frame of 2023. This, in turn, is having a favorable impact on hotel management software market sales.
Escalating Acquisition of Smartphones: The growing acquisition of smartphones globally is expected to fuel the market. As per GSMA’s yearly State of Mobile Internet Connectivity Report 2023, roughly half of the worldwide population, some 4.3 million people, possess a smartphone. They are becoming a principal instrument for travelers to explore, book, and handle lodgings, rendering it important for hotels to provide mobile, amicable solutions.
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North America: North America accounted for the largest hotel management software market share. The region's robust growth is primarily due to its progressive technological framework, elevated acquisition of digital solutions, and entrenched hospitality industry.
Asia Pacific: Asia Pacific is anticipated to witness significant growth from 2025 to 2034. This can be attributed to its augmenting hospitality industry and speedy digital alteration.
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By Type Outlook
• Property Management
• Customer Relationship Management (CRM)
• Central Reservation
• Channel Management
• Event Management
• Inventory Management
• Point-of-Sale
• Revenue Management
• Others
By Deployment Outlook
• On-premises
• Cloud
• Hybrid
By End Users Outlook
• Hotels
• Resorts
• Hostels
• Restaurants and Bars
• Others
By Regional Outlook
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
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How much is the hotel management software market?
The market size was valued at USD 4,259.82 million in 2024 and is projected to grow to USD 8,828.69 million by 2034.
Which type segment is anticipated to grow with a significant CAGR in the hotel management software market?
The central reservation segment is projected for significant growth in the global market.
What is the growth rate of the market?
The global market is projected to grow at a CAGR of 7.6% during the forecast period.
What are the segments covered in the market?
The segments covered in the market are type, deployment, end users, and region.
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