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Over the recent decade, hospitality industry has grown rapidly to become one of the largest business sector and employer. Among other industries, hospitality industry uses a substantial amount of energy to provide comfort and high class services to their customers with low level of energy efficiency. This makes hospitality industry one of the most energy and resource intensive sectors. Growth potential for hotel development will continue to result in an increasing energy consumption trend, which is a matter of alterations in the technology. There is also a misconception that correlates amplified energy use with improved quality of services however; consumption of energy can be reduced through energy efficient technologies without compromising the high quality of services for guests and in the process benefit from cost savings. 
 
Energy efficient technologies have become one of the sound business practices worldwide. Energy represents rapidly growing operating expenses in hospitality industry that can be optimized by using solutions based on hardware, software, and services through an integrated view into a hotel’s energy performance. There are a range of options and technologies available that hospitality industry can employ to become more energy efficient, depending on budget and requirement such as wireless controllers, system for heating & cooling, flush toilets that use less water and high performance fireplaces that eliminate air leakage. Wireless controllers can run key cards, lighting and air conditioning in rooms, in an attempt to reduce energy consumption. This device helps lights and other devices turn off automatically in the room, when the guests enter/leave, and adjust to the most favorable settings during their presence in the respective areas. Compact hot water distribution systems allow hot water to reach end users faster and turn off automatically when user leaves the room. The technology exists for kitchen results in remarkable reductions in energy consumption, resulting in reduction in carbon-footprint and cost savings. Some green initiatives for energy conservations have turned into a unique selling point of luxury hotels across the industry.
 
Energy efficient technology in hospitality industry can be segmented on the basis of product, industry and regions. Product segmentation depends on applications, technology and investment. Industry can be divided in the three segments such as luxury, full service and limited service hotels. Luxury hotels will have high level of green-house-gases emission and need for energy efficient system as compared to others. In 2014, North America and Europe accounted nearly 60% of total hotels in the world. Government in some part of the world have created few schemes for organizations investing in energy efficient plans such as in the U.K, businesses receive 100% tax relief on their qualifying capital expenditure on energy-saving equipment, in the U.S., purchasers of commercial food service (CFS) equipment may be entitled to refunds and incentives from utility companies and many others. In Asia Pacific,  Thailand, China and India have scope of development as being a primary choice for tourists. Growing tourism in these countries is likely to fuel the market growth in the coming years. 
 
Some of the factors driving energy efficient technologies in hospitality industry are changing perception of customers, increasing tourism and business travel, green building trends and energy pricing. Growing consumer awareness and their focus on clean environment are becoming centric that is giving rise to development of green technology. Challenge for hotels today seems to bring together commercial needs such as creating more unique guest experiences with environmental considerations. Energy-efficient technology might be costly initially, but the industry is acknowledging the long-term benefits in terms of savings.
 
Few solution providers for hospitality industry are Siemens AG, EpiSensor Limited, Obvius, Utilidex, EDP Energias de Portuga, Telnergy Limited and Orsis Limited. 
 
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include 
  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  
This report provides comprehensive analysis of 
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for upcoming years 
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis. 
 
Reasons for Buying this Report
  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth 
  • It provides a six-year forecast assessed on the basis of how the market is predicted to grow 
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments 
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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