The "Spa and Salon Software Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global spa and salon software market is expected to register a CAGR of 7.11% over the forecast period.
With the rising demand for healthy and standard lifestyles, people are looking for services which can relieve stress from the busy lifestyle. Consequently, the spa and salon market is gaining traction, which in turn is increasing the demand for spa and salon.
Further, aiding them to invest in the spa and salon management software to streamline their business activities. This software manages the business efficiently, add value to their business and allows businesses to manage customer efficiently and grow exponentially.
- Major factors such as effective client management, employee management, effective promotional and marketing activities, organize client appointments and bookings, planning and control, resource management, automation are driving the growth of the market.
- For instance, a salon can make use of salon software to manage appointments, accommodate requests for new ones, manage postponed appointments, and reschedule existing ones to make their business more efficient and profitable.
- However, the initial setup cost involved with the software includes installation and training costs which are usually high, restricting the growth in small and medium businesses. Further, the interoperability issue is expected to arise while using the software to automate the processes completely.
Major Market Trends
Cloud-based Software to Gain Maximum Market Traction
- Cloud-based software allows a business to set up a virtual office which offers the flexibility of connecting the business anywhere, at any given time. According to a study conducted by the International Data Group in 2018, 73% of organizations have at least one application, or a portion of their computing infrastructure already in the cloud, while 17% plan to do so within the next 12 months.
- With the gradual shift towards beauty and wellness products owing to the increasing trend of a healthy lifestyle, salon and spa businesses are also growing substantially. Hence the need to efficiently collaborate the business is increasing. Adoption of cloud solutions is expected the business to communicate and share more easily across different locations apart from the traditional methods.
- Factors such as reduced IT costs, increased flexibility, instant data accessibility and recovery, and business continuity in case of a crisis minimizing the downtime and loss of productivity are driving the adoption of cloud solutions.
North-America to Hold the Highest Market Share
- The North America region is expected to hold the highest market share in terms of revenue in the spa and salon software market. It is majorly due to the early adoption of beauty salon services and products by individuals and professionals in salons and spas owing to the increased demand for healthy and standard lifestyles.
- Moreover, the changing lifestyles of the urban population and increasing health and skin problems is stimulating the growth of the market. Further, with increasing disposable income, people are getting more focused towards personal appearance, and the advanced techniques and technology used in spa and salons are some more products expected to boost the market.
The global spa and salon software market is fragmented owing to the presence of many solution providers globally. Thus numerous companies are focusing on partnerships, investing in research and development activities to come up with advanced and innovative solutions.
- May 2019 - MINDBODY, the leading technology platform for the wellness industry, recently acquired Bowtie, an automated AI-driven virtual receptionist solution for appointment-based businesses. Bowtie automatically books clients, answers questions and enables live chat over SMS and web.
- May 2019 - Zenoti, the leading enterprise cloud platform for the beauty and wellness industry, recently announced that it has closed a USD 50 million Series C funding round led by Tiger Global Management with participation from Norwest Venture Partners and Accel.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Healthy & Standard Lifestyle
4.2.2 Automation in Business Processes
4.3 Market Restraints
4.3.1 Initial Setup Cost
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Size of the Enterprise
5.1.1 Small & Medium Enterprises
5.1.2 Large Enterprise
5.2 By Deployment
5.2.2 On Premise
5.3 By Solutions
5.3.1 Customer Relationship Management
5.3.2 Inventory Management
5.3.3 Resource Management
5.3.4 Enterprise Management & Reporting
5.3.5 Business & Financial Reporting & Analysis
5.4.1 North America
5.4.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 MindBody Inc.
6.1.2 DaySmart Software
6.1.3 Springer-Miller Systems
6.1.7 Vagaro Inc.
6.1.8 Simple S.p.A.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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