Hotel and Hospitality Management Software Market size to grow by USD 1,176.2 mil… – Press Release

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NEW YORK, July 10, 2023 /PRNewswire/ — The hotel and hospitality management software market size is estimated to grow by USD 1,176.2 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.59% during the forecast period. Europe will contribute to 34% of the market growth. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

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Hotel And Hospitality Management Software Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Deployment (Cloud-based and On-premise), Application (Business hotels, Heritage and boutique hotels, and Resorts and spas), and Geography (Europe, APAC, North America, Middle East and Africa, and South America). 

  • The market share growth by the cloud-based segment is significant during the forecast period. There is a rapid increase in market share for the cloud-based segment from 2017 to 2021. One of the main reasons for the increase in demand for cloud-based solutions in the hotel and hospitality management software market is the rising need to digitize the core business processes. There is a significant implementation of cloud-based solutions by hotel and hospitality managers in order to gain real-time information, incorporate it with other essential software, cater to digitization demands, and offer efficient services that meet consumer standards. Hence, such factors are expected to drive market growth during the forecast period.

Geography Overview
By geography, the global hotel and hospitality management software market is segmented into Europe, APAC, North…

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