Smart Hospitality Boom: AI-Powered Guest Experience Fuels $74.86 Billion Market By 2029

(MENAFN- GlobeNewsWire - Nasdaq) The Global Smart Hospitality market is projected to grow from $29.65 billion in 2025 to $74.86 billion by 2029, with a CAGR of 26.1%. The surge is driven by IoT-based automation, contactless technology, AI-driven guest experiences, and sustainability initiatives. Hotels, cruises, and luxury yachts are leading adopters, integrating cloud-based property management systems, energy management solutions, and digital concierge services. The report highlights Cisco, Honeywell, IBM, Oracle, Siemens, and Huawei as key players shaping industry innovation.

Dublin, March 20, 2025 (GLOBE NEWSWIRE) -- The "Smart Hospitality Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The smart hospitality market size has grown exponentially in recent years. It will grow from $23.2 billion in 2024 to $29.65 billion in 2025 at a compound annual growth rate (CAGR) of 27.8%. The growth in the historic period can be attributed to customer experience enhancement, operational efficiency, data analytics utilization, sustainability and energy efficiency, guest expectations.
The smart hospitality market size is expected to see exponential growth in the next few years. It will grow to $74.86 billion in 2029 at a compound annual growth rate (CAGR) of 26.1%. The growth in the forecast period can be attributed to deepening data analytics usage, sustainability and green initiatives, advanced security and safety measures, rising demand for automation, tailored industry-specific solutions.

Major trends in the forecast period include IoT integration, contactless technology, voice-controlled interfaces, enhanced sustainability, predictive maintenance.
The increasing demand for advanced smart IoT-based solutions is anticipated to drive growth in the smart hospitality market. The Internet of Things (IoT) represents a connected network that can significantly transform operations in hotels, resorts, cruise ships, casinos, restaurants, and other leisure services. By integrating IoT with technologies like user mobility and data analytics, a new hospitality paradigm emerges where businesses can collect data, engage with users, and automate processes to enhance guest experiences. This shift towards IoT-based solutions streamlines operations, reduces costs, boosts productivity, and fosters the creation of new services. For example, as reported by IoT Analytics GmbH, a Germany-based non-governmental organization, there were 16.6 billion connected IoT devices by the end of 2023, marking a 15% increase from 2022. IoT Analytics forecasted an additional 13% growth, bringing the total to 18.8 billion by the end of 2024. Furthermore, the number of connected IoT devices is expected to soar to 40 billion by 2030, a significant rise since the last market update in 2023. Thus, the escalating demand for improved smart IoT-based solutions will propel the growth of the smart hospitality market.
The smart hospitality market is anticipated to benefit from the rising number of cruise ships. These large passenger vessels designed for leisure cruises utilize smart technologies to enhance guest services. Features such as smart room controls, personalized digital concierge services, and the integration of IoT devices contribute to improved convenience for passengers. The Cruise Lines International Association reports a significant increase in the number of British and Irish holidaymakers taking cruises, reaching around 1.7 million in April 2023, compared to 479,000 the previous year. This upward trend in the number of cruise ships is expected to be a key driver for the growth of the smart hospitality market.
Key players in the field of zero-trust security are strategically focusing on IoT cloud platforms to reinforce their positions in the market. In the realm of zero-trust security, a noteworthy development is the integration of IoT cloud platforms into the hospitality industry, specifically in the form of Smart Hotel IoT cloud platforms. These comprehensive solutions harness the power of the Internet of Things (IoT) to elevate guest experiences, streamline operations, and enhance overall efficiency within hotel environments. For instance, Hubsai, an innovative US-based company specializing in IoT and automation software for smart properties, including those in the hospitality sector, launched a new Smart Hotel IoT cloud platform in November 2022. This secure, cloud-based IoT platform is designed for the management, monitoring, and testing of various smart devices within hospitality properties. The platform empowers property owners and managers to offer convenient services to guests, thereby boosting competitiveness in property booking and rentals. Simultaneously, it addresses concerns related to property damage and reduces operational costs, making it a valuable addition to the hospitality landscape.
In April 2024, Assa Abloy, a building materials company based in Sweden, acquired Axxess Industries Inc. for an undisclosed sum. This acquisition is intended to strengthen Assa Abloy's position in the North American market and broaden its product range in access control and security solutions. Axxess Industries specializes in innovative door hardware and related products, and it is a Canadian company focused on delivering advanced technology solutions.
Major companies operating in the smart hospitality market are Cisco Systems Inc., Honeywell International, IBM Corporation, Johnson Controls, NEC Corporation, Oracle Corporation, Schneider Electric SE, Siemens AG, Infor, Huawei Technologies, Qualsoft Systems Pvt. Ltd., Samsung, BuildingIQ, WiSuite, Cloudbeds, Hotel Internet Services, NTT Security, Onity Inc., Shiji Group, Comcast Business, AT&T Inc., Verizon Communications Inc., T-Mobile US Inc., Ubiquity LLC, Zebra Technologies Corp., Altronix Systems Inc.
Report Scope:
This report focuses on smart hospitality market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Markets Covered:

• by Offering: Solution; Services
• by Deployment Mode: Cloud; on-premises
• by End User: Hotel; Cruise; Luxury Yachts; Other End-users

Subsegments:

• by Solutions: Property Management Systems (PMS); Guest Experience Management; Revenue Management Systems; Energy Management Solutions; Mobile Applications; Internet of Things (IoT) Solutions; Contactless Technology
• by Services: Consulting Services; Integration Services; Maintenance and Support Services; Training Services; Managed Services

Key Attributes:

Report Attribute	Details
No. of Pages	200
Forecast Period	2025 - 2029
Estimated Market Value (USD) in 2025	$29.65 Billion
Forecasted Market Value (USD) by 2029	$74.86 Billion
Compound Annual Growth Rate	26.1%
Regions Covered	Global

Companies Featured
Some of the major companies featured in this Smart Hospitality market report include:

• Cisco Systems Inc.
• Honeywell International
• IBM Corporation
• Johnson Controls
• NEC Corporation
• Oracle Corporation
• Schneider Electric SE
• Siemens AG
• Infor
• Huawei Technologies
• Qualsoft Systems Pvt. Ltd.
• Samsung
• BuildingIQ
• WiSuite
• Cloudbeds
• Hotel Internet Services
• NTT Security
• Onity Inc.
• Shiji Group
• Comcast Business
• AT&T Inc.
• Verizon Communications Inc.
• T-Mobile US Inc.
• Ubiquity LLC
• Zebra Technologies Corp.
• Altronix Systems Inc.

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