Hospitality

Global Hotel Guest Feedback And Surveying Software Market Report 2024: Size, Drivers, And Top Segments

September 10, 2024September 3, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The hotel guest feedback and surveying software market has experienced significant growth in recent years. From a valuation of $1.48 billion in 2023, it is expected to reach $1.69 billion by 2024, marking a compound annual growth rate (CAGR) of 14.7%.

Key Growth Drivers:
- Rising competition among hotels.
- Increased importance of customer satisfaction and experience.
- Shift towards personalization.
- Influence of online reviews.
- Globalization of the hospitality industry.

Future Projections

The market is poised for continued expansion, with projections indicating it will grow to $2.96 billion by 2028. This growth is anticipated at a CAGR of 14.9% over the forecast period.

Factors Contributing to Future Growth:
- Integration of feedback and surveying software with hotel management systems.
- Growing demand for real-time feedback solutions.
- Expansion of boutique and lifestyle hotels.
- Heightened focus on data security and privacy.
- Increased awareness of the importance of guest satisfaction.
Major Trends:
- Adoption of Artificial Intelligence (AI) and Machine Learning (ML).
- Integration of voice and text analytics.
- Enhanced data security and privacy measures.

View More On The Hotel Guest Feedback And Surveying Software Market Report 2024 – https://www.thebusinessresearchcompany.com/report/hotel-guest-feedback-and-surveying-software-global-market-report

Growth of the Hospitality Industry Driving Market Demand

The expansion of the hospitality industry is a significant factor driving the demand for hotel guest feedback and surveying software.

Factors Influencing Hospitality Industry Growth:
- Globalization and rising disposable incomes.
- Increased demand for travel and leisure experiences.
- Enhanced insights into guest satisfaction.

For example, a report from the American Hotel and Lodging Association in January 2023 indicated that U.S. hotel demand rose by 11.1% in 2022, with a notable increase in occupancy rates.

Major Companies in the Market

Several key players are leading the hotel guest feedback and surveying software market, including:

Notable Companies:
- Amadeus Hospitality Americas Inc.
- Medallia Inc.
- SurveyMonkey Inc.
- Shiji Group
- BirdEye Inc.
- InMoment
- Trustpilot Group Inc.
- Revinate Inc.

These companies are instrumental in shaping the market with innovative solutions and advanced technologies.

Real-Time Survey Solutions Revolutionizing Guest Feedback

Technological advancements, such as real-time survey systems, are transforming how feedback is collected and utilized.

Key Features of Real-Time Survey Systems:
- Collection of instant feedback between check-in and checkout.
- Immediate action on guest feedback to enhance experiences.
- Prevention of negative reviews on third-party websites.

An example is Stay App’s Instant Feedback, launched in February 2023, which allows hotels to address guest concerns proactively and improve overall satisfaction.

Strategic Acquisitions Fueling Market Growth

Strategic acquisitions are also influencing the growth of the market.

Recent Major Acquisition:
- In June 2023, Silver Lake Technology Management and CPP Investments acquired Qualtrics for $12.5 billion.
- This acquisition allows Qualtrics to leverage its AI-powered platform for enhanced experience management across various sectors, including hospitality.

Market Segmentation and Regional Insights

The hotel guest feedback and surveying software market is segmented as follows:

By Type:
- Cloud-Based
- On-Premises
By Application:
- Luxury and High-End Hotels
- Mid-Range Hotels and Business Hotels
- Resort Hotels
- Boutique Hotels
- Other Applications
By End-User:
- Hotel Owners
- Hotel Management Companies
- Hotel Chains

Regionally, North America was the largest market in 2023. However, the Asia-Pacific region is expected to be the fastest-growing, driven by increasing hotel operations and technological adoption.

Conclusion

The hotel guest feedback and surveying software market is experiencing rapid growth driven by advancements in technology and increasing demands for real-time, actionable insights. As the hospitality industry continues to expand and evolve, the need for sophisticated feedback systems will become even more critical, offering hotels the tools to enhance guest satisfaction and remain competitive.

Request A Sample Of The Global Hotel Guest Feedback And Surveying Software Market Report https://www.thebusinessresearchcompany.com/sample_request?id=15585&type=smp

The Hotel Guest Feedback And Surveying Software Global Market Report 2024 provides comprehensive insights on the hotel guest feedback and surveying software market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the hotel guest feedback and surveying software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Cloud Network Security Software Global Market Report 2024

Cloud Accounting Software Global Market Report 2024

Collaboration Software Global Market Report 2024

Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]