Hospitality Global Market Report 2021: COVID-19 Impact And Recovery To 2030
The Business Research Company?s Hospitality Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 6, 2021 /EINPresswire.com/ -- Hotels are using technologies that are transforming the customer experience. Some technologies are leading to significant improvements and savings in the hospitality market. The most significant trends in this market are the use of near field communication (NFC) technology, infrared technologies, and robots. NFC gives users the ability to exchange data between devices, making mobile payments an instant, secure process. Infrared sensors are used in hotels to address customer complaints involving housekeeping interruptions. Hotels are also using robots to deliver amenities to guest rooms and for many other functional purposes. Hotel operators are investing in systems and technologies that can automate processes and personalize the experience for guests.
Asia Pacific is the largest region in the global hospitality market, accounting for 45% of the market in 2020. North America is the second largest region accounting for 25% of the global market. Africa is the smallest region in the global hospitality market.
Read More On The Global Hospitality Market Report:
https://www.thebusinessresearchcompany.com/report/hospitality-global-market-report
The global hospitality market size is expected to grow from $3.48 trillion in 2020 to $4.13 trillion in 2021 at a compound annual growth rate (CAGR) of 18.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5.29 trillion in 2025 at a CAGR of 6%.
Major companies in the market include McDonald's, Compass Group Plc, Starbucks, Subway, Marriott International.
TBRC?s hospitality market report is segmented by type into non-residential accommodation services, food and beverage services and by ownership into chained, standalone.
Subsegments covered are hotel and other travel accommodation, camping and caravanning, students and workers non-residential accommodation, restaurants and mobile food services, bars and cafes, catering services and food contractors.
Hospitality Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides hospitality global market overview, forecast hospitality global market size and growth for the whole market, hospitality global market segments, and geographies, hospitality global market trends, hospitality global market drivers, restraints, leading competitors? revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
Hotel And Other Travel Accommodation Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/hotel-and-other-travel-accommodation-global-market-report-2020-30-covid-19-impact-and-recovery
Non-Residential Accommodation Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/non-residential-accommodation-services-global-market-report-2020-30-covid-19-impact-and-recovery
Food And Beverage Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/food-and-beverage-services-global-market-report-2020-30-covid-19-impact-and-recovery
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