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NEW YORK, Aug. 9, 2022 /PRNewswire/ — The “Hotel and Hospitality Management Software Market by Deployment and Geography – Forecast and Analysis 2021-2025” report by Technavio expects the market size to grow by USD 994.71 million between 2020 and 2025. The market witnessed a YOY growth of 5.21% in 2021 and the growth momentum is expected to accelerate at a CAGR of 6.22% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download PDF Report Sample Here
Key points covered in the hospital and hospitality market study:
- Market estimates and forecast 2022-2026
- Key drivers, trends, and challenges impacting market growth
- Segment-wise, region-wise, and country-wide analysis
- Analysis of market share by vendors
- Key product launches and regulatory climate
Post-COVID-19 impact on the market landscape.
The hospital and hospitality market is fragmented due to the presence of many regional and international players. The vendors in the market are deploying various organic and inorganic growth strategies to compete in the market. The reduction in overall operational costs has been instrumental in driving the growth of the market. However, complications in changeover from the traditional system might reduce the growth opportunities for market players.
Competitors must focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also must leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Technavio identifies Amadeus IT Group SA, Cisco Systems Inc., Honeywell International Inc., Johnson Controls International Plc, NEC Corp., Oracle Corp., Sabre GLBL Inc., Salesforce.com Inc., Schneider Electric SE, and Siemens AG as major market participants.
The global hotel and hospitality software market is segmented as below:
- Deployment
- Cloud-based
- On-premise
The cloud-based segment accounted for the largest share of the market in 2021. The segment is driven by the cost-effectiveness of cloud-based solutions. The market growth in the segment will be significant during the forecast period.
- Geographic
- Europe
- APAC
- North America
- MEA
- South America
37% of the…
Full story available on Benzinga.com
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