The hospitality property management (PMS) software market is expected to grow at a CAGR of 7.85% over the forecast period (2020-2025).
The PMS software helps the hotel to effectively manage, organize, and schedule their mundane activities including front office workflow, guest check-in & checkout, assigning rooms to guests, delegating housekeeping tasks and billing, etc.
In short, PMS automates and streamlines the operations to save working hours and offer a better experience to guests.
- The hospitality industry is witnessing growth from technology disruption due to increasing online travel agencies and hotel aggregators. These companies are rapidly adopting cloud-based solutions like PMS and other SaaS platforms to scale their growths in the industry. The rise in the number of SME hotels especially in the emerging markets like Asia-pacific is driving the deployment of property management software market.
- Additionally, hotels are increasingly concentrating on optimizing their operations to reduce lead time. As these solutions are inexpensive, the adoption rate has increased in recent years. These companies in the industry are also emphasizing on analytics of their serviceability to gain more insights which enable scope for improvement in their operations.
- However, owing to multiple challenges for integrating PMS into existing infrastructure, the adoption has been limited to an extent in the hospitality industry with large business adopting it for improved productivity and efficiency in managing multiple units.
The scope of the study for the hospitality property management (PMS) software market has considered both on-cloud and on-premise deployment both for PMS in the hospitality industry for all sizes of hotels across the world.
The market for hospitality property management software is moderately consolidated due to the presence of a few companies dominating the market.
Also, these companies are extensively investing in offering customized solutions to customers. Moreover, the startups in the market are attracting fundings from investors.
Further new entrants in the market are expected to drive fragmentation.
- Micros Systems. Inc. (Oracle)
- Agilsys, Inc.
- Infor Inc.
- Cenium AS
- Realpage, Inc.
- FCS Computer Systems
- Hoteliga International S.p. z.o.o
- Console Group
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