In the enchanting realm of EMEA (Europe, Middle East, and Africa), the HoReCa market, comprising Hotels, Restaurants, Cafes, and Bars, is poised for a savory journey, anticipating a steady growth rate of around 4.3%. A culinary symphony echoing through diverse regions, this market is not just meeting expectations but exceeding them, fueled by a confluence of factors.
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Tourism's Allure:
An escalating influx of tourists shapes the narrative, transcending traditional European destinations to embrace emerging gems in the Middle East and Africa. Dubai, in particular, has become a magnet for international attention, witnessing a surge in hotel investments by renowned chains. The allure of diverse landscapes and cultural richness beckons travelers, stimulating growth in the HoReCa sector.
Government Initiatives as Catalysts:
Government initiatives, such as Greece's "Golden Visa" program and Saudi Arabia's Vision 2030, act as accelerators, inviting foreign investments into the HoReCa sector. These visionary endeavors aim to bolster tourism and enhance hospitality infrastructure, setting the stage for robust market expansion.
Global Players and Strategic Alliances:
Among the maestros orchestrating this crescendo are industry giants like Hilton Worldwide Holding Inc., Marriott International Inc., and McDonald’s Corporation. Through mergers, acquisitions, and strategic partnerships, these players infuse innovation and technology, elevating the customer experience in this dynamic market.
Market Dynamics Unveiled:
- Hotels Claim Center Stage: The hotels segment emerges as the star player, capturing a significant market share. Fueled by the growing middle class and rising disposable incomes, the demand for diverse accommodation experiences propels the hotels sector to new heights.
- Category Dynamics: The single outlet segment dominates the landscape in 2022, driven by the surge in demand for ready-to-eat and junk food. However, the HoReCa chain segment promises explosive growth in the forecast period, riding the wave of evolving consumer preferences.
- Saudi Arabia's Culinary Renaissance: Saudi Arabia takes the lead, with Vision 2030 reshaping its culinary landscape. The commitment to economic diversification attracts global players, while a burgeoning young population and changing lifestyles drive a thriving restaurant and cafe culture.
In this gastronomic journey, the EMEA HoReCa market emerges not just as a sector but as a celebration of diverse palates, cultural richness, and a convergence of global and local flavors.
According to a new market research report "EMEA IoT Market by Component (Platform, Service, Software Solution), Application (Building & Home Automation, Smart Energy, Smart Manufacturing, Connected Logistics, Smart Retail, Connected Health), and Region (Europe and MEA) - Forecast to 2021", published by MarketsandMarkets™, the EMEA IoT market projected to grow from $53.88 Billion in 2016 to $211.92 Billion by 2021, at a CAGR of 31.5% during the forecast period, from 2016 to 2021.Browse 81 market data tables and 46 figures spread through 139 pages and in-depth TOC on “EMEA IoT Market"Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=129681220The market has been witnessing substantial growth in recent years, owing to the evolution of high speed network technologies and the rising adoption of cloud platforms.
The market’s growth is also attributed to emerging markets in the Middle East, such as Saudi Arabia, UAE, and Qatar; and increasing adoption of the IoT technology by European countries, such as the U.K., France, and Germany.“The software solution segment is projected to lead the market during the forecast period”Based on component, the EMEA IoT market has been segmented into platform, software solution, and service.
The major reason for this segment’s growth is attributed to the growing inclination of customers toward highly customized IoT solutions.
Among platforms, the device management platform segment is expected to grow at the highest CAGR during the forecast period due to the growing use of personalized devices, such as smartphones and tablets.“The connected health segment is projected to grow at the highest CAGR during the forecast period.”Based on application, the connected health segment is projected to grow at the highest CAGR during the forecast period due to the increasing need for efficient healthcare.“France is projected to grow at the highest CAGR in the European market during the forecast period, while Qatar is projected to grow at highest CAGR in the Middle East & Africa market”In Europe, the IoT market in France is projected to grow at the highest CAGR during the forecast period, due to the increasing use of mobile phones and social media, and the exponential growth in deployment of high speed networks.
Whereas, Qatar is projected to grow at the highest CAGR in the Middle East & Africa IoT market.
This high growth in Qatar is attributed to its infrastructure growth, such as in the banking and hospitality sectors, and rise in income levels.Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=129681220IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Amazon Web Services (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), and General Electric (U.S.) are some of the key players operating in the EMEA IoT market.About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
According to a new market research report "EMEA IoT Market by Component (Platform, Service, Software Solution), Application (Building & Home Automation, Smart Energy, Smart Manufacturing, Connected Logistics, Smart Retail, Connected Health), and Region (Europe and MEA) - Forecast to 2021", published by MarketsandMarkets™, the EMEA IoT Market is projected to grow from USD 53.88 Billion in 2016 to USD 211.92 Billion by 2021, at a CAGR of 31.5% during the forecast period, from 2016 to 2021.
Browse 81 market data tables and 46 figures spread through 139 pages and in-depth TOC on “EMEA IoT Market”Ask for Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=129681220The market has been witnessing substantial growth in recent years, owing to the evolution of high speed network technologies and the rising adoption of cloud platforms.
The market’s growth is also attributed to emerging markets in the Middle East, such as Saudi Arabia, UAE, and Qatar; and increasing adoption of the IoT technology by European countries, such as the U.K., France, and Germany.“The software solution segment is projected to lead the market during the forecast period”Based on component, the EMEA IoT Market has been segmented into platform, software solution, and service.
The major reason for this segment’s growth is attributed to the growing inclination of customers toward highly customized IoT solutions.
Among platforms, the device management platform segment is expected to grow at the highest CAGR during the forecast period due to the growing use of personalized devices, such as smartphones and tablets.“The connected health segment is projected to grow at the highest CAGR during the forecast period.”Based on application, the connected health segment is projected to grow at the highest CAGR during the forecast period due to the increasing need for efficient healthcare.“France is projected to grow at the highest CAGR in the European market during the forecast period, while Qatar is projected to grow at highest CAGR in the Middle East & Africa market”In Europe, the IoT market in France is projected to grow at the highest CAGR during the forecast period, due to the increasing use of mobile phones and social media, and the exponential growth in deployment of high speed networks.
This high growth in Qatar is attributed to its infrastructure growth, such as in the banking and hospitality sectors, and rise in income levels.IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Amazon Web Services (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), and General Electric (U.S.) are some of the key players operating in the EMEA IoT Market.About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
