Global Hospitality Property Management Software Market Size By Deployment Type, By Hotel Type, By Functionality, By Geographic Scope And Forecast
Report ID: 86608|No. of Pages: 202
Global Hospitality Property Management Software Market Size By Deployment Type, By Hotel Type, By Functionality, By Geographic Scope And Forecast
Hospitality Property Management Software Market Size And Forecast
Hospitality Property Management Software Market size was valued at USD 7.15 Billion in 2023 and is projected to reach USD 14.71 Billion in 2030 growing at a CAGR of 10.77% during the forecasted period 2024 to 2030.
Global Hospitality Property Management Software Market Drivers
The market drivers for the Hospitality Property Management Software Market can be influenced by various factors. These may include:
- Technological Progress: Incorporating cutting-edge technology into hotel PMS, such as cloud computing, AI, and machine learning. The growing use of smartphones and tablets in the hotel sector is catered to by mobile PMS systems.
- Growing Need for Effective Operations: Hospitality PMS increases efficiency by streamlining a variety of operational duties, including inventory management, check-in/check-out procedures, and reservation administration.
- Increasing Number of Lodgings and Hotels: With more hotels, resorts, and other lodging providers utilising PMS to efficiently manage their operations, the worldwide hospitality sector is growing.
- A Transition to Cloud-Based Solutions: Cloud-based PMS solutions are becoming more and more popular because of their advantages, which include affordability, scalability, and accessibility.
- Better Visitor Experience: PMS systems enhance the overall visitor experience by offering better lines of communication, individualised services, and expedient booking procedures.
- Data security and compliance with regulations: The adoption of PMS solutions that guarantee the protection of guest information is being driven by the necessity of adhering to industry laws and by an emphasis on data security.
- Trends in International Tourism: The demand for hospitality PMS is being driven by the global tourism industry’s growth, as hotels and other lodging facilities strive to effectively accommodate an expanding number of visitors.
- Market Rivalry: In order to remain competitive and provide better services, hotels and other hospitality organisations are being forced to implement technological solutions like PMS.
- Intelligence and analytics in business: There is a growing need for PMS solutions that include strong analytics and business intelligence features so that hoteliers can make data-driven decisions that will boost their bottom line.
- Models of Flexible Pricing: A greater variety of hospitality organisations are drawn to software vendors who offer flexible pricing methods, such as pay-per-use and subscription alternatives.
Global Hospitality Property Management Software Market Restraints
Several factors can act as restraints or challenges for the Hospitality Property Management Software Market. These may include:
- High Implementation Startup Costs: For smaller hotels or enterprises with tighter budgets, the upfront costs of installing PMS solutions—which include software licencing, hardware, and training expenses—may be a hurdle.
- Integration Difficulties: It might be difficult to achieve smooth connectivity and interoperability when integrating PMS with other third-party applications and legacy systems.
- Data Security Issues: The adoption of PMS solutions may be hampered by worries about data security and privacy compliance given the growing reliance on technology and the storing of sensitive visitor information.
- Opposition to Change: The process of implementing new technologies may be slowed down by resistance from traditional institutions and the need for additional training for staff members to become familiar with PMS systems.
- Restricted Personalisation for Specialised Business Models: Certain PMS solutions might not be flexible enough to meet the specific needs of various hospitality business types, which would limit their usefulness for specific locations.
- Reliance upon Internet Access: Dependability on an internet connection is necessary for cloud-based PMS solutions. The performance of cloud-based services may be impacted in areas with inadequate connectivity or during internet outages.
- Issues with Dependability and Downtime: System failures and reliability problems can interfere with bookings, check-ins, and other vital hotel procedures, which could make customers unhappy.
- Absence of Standardisation: The lack of consistent procedures and functionalities among various PMS solutions could provide difficulties for hotels seeking to effortlessly transition between systems or interface with other platforms.
- Regulatory Compliance Difficulties: It can be difficult for PMS providers and users alike to comply with and adjust to changing legal requirements in the hotel sector, particularly those pertaining to data protection and privacy.
- Limited IT Capabilities in Smaller Organisations: It’s possible that independent lodgings or smaller hotels lack the IT know-how and resources needed to run and maintain PMS systems.
Global Hospitality Property Management Software Market Segmentation Analysis:
The Hospitality Property Management Software Market is segmented based on Deployment Type, Hotel Type, Functionality and Geography.
Hospitality Property Management Software Market, By Deployment Type
- On-Premises: Software is installed and operated on the hotel’s local servers and computing infrastructure.
- Cloud-Based: Software is hosted on external servers, accessible over the internet. This includes public cloud, private cloud, and hybrid cloud solutions.
Hospitality Property Management Software Market, By Hotel Type
- Chain Hotels/Brands: Large hotel chains or brands with multiple properties.
- Independent Hotels: Stand-alone hotels that are not part of a larger chain.
- Resorts: Properties that offer a range of amenities and recreational facilities.
- Small and Mid-sized Hotels: Boutique hotels or smaller establishments with a limited number of rooms.
Hospitality Property Management Software Market, By Functionality
- Reservation System: Manages booking and reservation processes.
- Front Office System: Handles guest check-in, check-out, and related front desk operations.
- Housekeeping Management: Manages housekeeping tasks and room status.
- Reporting and Analytics: Provides tools for reporting and analyzing data for business intelligence.
- Point of Sale (POS): Integrates with POS systems for managing transactions in on-site facilities.
- Payment Processing: Handles secure payment transactions.
Hospitality Property Management Software Market, By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Key Players
The major players in the Hospitality Property Management Software Market can be categorized into:
- Oracle Hospitality
- Agilysys
- Infor Hospitality
- Mews Systems
- RealPage
- PAR Springer Miller
- Amadeus Hospitality
- Cloudbeds
- Protel
- Maestro (Northwind)
- eZee Absolute
- Sihot (GUBSE AG)
- Guestinsight
- SiteMinder
- Duetto
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Oracle Hospitality, Agilysys, Infor Hospitality, Mews Systems, RealPage, Amadeus Hospitality, Cloudbeds, Protel, Maestro (Northwind), Sihot (GUBSE AG) |
| SEGMENTS COVERED | By Deployment Type, By Hotel Type, By Functionality and By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Frequently Asked Questions
1. Introduction
· Market Definition
· Market Segmentation
· Research Methodology
2. Executive Summary
· Key Findings
· Market Overview
· Market Highlights
3. Market Overview
· Market Size and Growth Potential
· Market Trends
· Market Drivers
· Market Restraints
· Market Opportunities
· Porter’s Five Forces Analysis
4. Hospitality Property Management Software Market, By Deployment Type
• On-Premises
• Cloud-Based
5. Hospitality Property Management Software Market, By Hotel Type
• Chain Hotels/Brands
• Independent Hotels
• Resorts
• Small and Mid-sized Hotels
6. Hospitality Property Management Software Market, By Functionality
• Reservation System
• Front Office System
• Housekeeping Management
• Reporting and Analytics
• Point of Sale (POS)
• Payment Processing
7. Regional Analysis
· North America
· United States
· Canada
· Mexico
· Europe
· United Kingdom
· Germany
· France
· Italy
· Asia-Pacific
· China
· Japan
· India
· Australia
· Latin America
· Brazil
· Argentina
· Chile
· Middle East and Africa
· South Africa
· Saudi Arabia
· UAE
8. Market Dynamics
· Market Drivers
· Market Restraints
· Market Opportunities
· Impact of COVID-19 on the Market
9. Competitive Landscape
· Key Players
· Market Share Analysis
10. Company Profiles
• Oracle Hospitality
• Agilysys
• Infor Hospitality
• Mews Systems
• RealPage
• PAR Springer Miller
• Amadeus Hospitality
• Cloudbeds
• Protel
• Maestro (Northwind)
• eZee Absolute
• Sihot (GUBSE AG)
• Guestinsight
• SiteMinder
• Duetto
11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
12. Appendix
• List of Abbreviations
• Sources and References
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Data Collection Matrix
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Industry Analysis Matrix
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