The hospitality sector is emerging as one of the biggest drivers for IPTV growth over the next 5 years. New data from Orion Research has found that the outlook for video on demand in the hospitality market will be driven by IPTV solutions and dominate the video on demand usage from 2016 to 2021.
These personalised services widely branded, as ‘smart hospitality’ enable hotels to enhance their guest experience and increase revenue with digital In-room entertainment systems. Personalised IPTV enabled services to include HD free-to-guest channels, Interactive TV, IPTV services and Wi-Fi for hotels. The smart hospitality market is expected to grow due to increasing adoption of the smart hospitality services and technology by various companies in the hospitality domain.
While the increasing usage of the Internet of things (IoT) and other innovative technology in also fuelling innovation in the smart hospitality market.
Massive global franchise hotel chains like Starwood and Hilton are offering their guests the ability to unlock their doors and use services with the help of their mobile apps.
North America and Europe are expected to lead demand due to the technological advancement with respect to the smart hospitality sector. While the Asia Pacific region is expected to grow at a significant rate due to the widespread adoption of new technologies related to smart hospitality.
The global IPTV Market is expected to reach US$79.3 billion by 2020 with enterprise driving significant revenue growth. The hospitality enterprise segment is growing fast on account of a significant interest amount corporates to communicate with employees and clients, improve training, and satisfy compliance requirements, all of which can be achieved through IPTV.
"The growing number of Facebook subscribers, declining cost of IPTV services, and supportive government initiatives for boosting broadband penetration are some of the factors triggering the growth of the Global IPTV market,” the research stated.