The EMEA HoReCa (Hotels, Restaurants, Cafes, and Bars) market is poised for steady growth, projected at a robust rate of around 4.3%. This flourishing market, spanning Europe, the Middle East, and Africa, is propelled by several key drivers, shaping its dynamic landscape.
Driving Factors Fueling Market Growth
1. Tourism Boom Across the Region
The EMEA region boasts a diverse array of tourist destinations, from the iconic cities of Europe to the emerging hubs in the Middle East and Africa. Cities like Barcelona, Paris, and Rome have long been magnets for travelers, while destinations such as Dubai are capturing global attention. The influx of tourists has catalyzed investments in hospitality infrastructure, with renowned hotel chains establishing a strong presence to cater to the growing demand.
2. Government Initiatives Driving Investments
Government initiatives across various EMEA countries are instrumental in fostering investments in the HoReCa sector. Programs like Greece's "Golden Visa" and Saudi Arabia's Vision 2030 aim to attract foreign investments, particularly in tourism and hospitality infrastructure development. These initiatives create a conducive environment for growth, fostering economic diversification and job creation.
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Major Players Shaping the Market Landscape
Leading the charge in the EMEA HoReCa market are prominent players committed to driving innovation and excellence. Some of the key players include:
- Hilton Worldwide Holding Inc.
- Hyatt Hotels Corporation
- Marriott International Inc.
- InterContinental Hotels Group Plc
- McDonald’s Corporation
- Yum! Brands, Inc.
- Restaurant Brands International Inc.
- Herfy
- KFC
- The Coca-Cola Company
These industry giants have leveraged strategic mergers, acquisitions, and partnerships to enhance their offerings and cater to
the evolving needs of consumers.
Insights from Market Analysis
Hotels Segment: Pioneering Growth
The hotels segment emerges as a frontrunner within the EMEA HoReCa market, poised to command a significant share during the forecast period. Factors such as the rise in international and domestic tourism, coupled with the expanding middle class and rising disposable incomes, are driving the demand for diverse accommodation experiences. Boutique hotels, luxury resorts, and budget accommodations alike are witnessing heightened demand, reflecting the evolving preferences of travelers.
Single Outlet vs. HoReCa Chain
The market is segmented into Single Outlet and HoReCa Chain categories, with the single outlet segment holding a considerable market share in 2022. However, the HoReCa chain segment is poised for exponential growth in the forecast period, driven by the surging demand for ready-to-eat and junk food among millennials. As consumer preferences evolve, both segments are poised to play integral roles in shaping the HoReCa landscape.
Saudi Arabia: A Dominant Force
Saudi Arabia emerges as a dominant player in the EMEA HoReCa market, expected to hold the highest market share during the forecast period. The country's adoption of the HoReCa market reflects a dynamic shift in consumer preferences and a burgeoning tourism sector. Vision 2030, Saudi Arabia's transformative economic agenda, has catalyzed investments in tourism and entertainment infrastructure, attracting international hotel chains and renowned restaurant brands.
In conclusion, the EMEA HoReCa market presents a landscape ripe with opportunities for growth and innovation. With tourism booming across the region and government initiatives driving investments, the market is poised for sustained expansion in the coming years.
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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.
