World Hospitality Event Service Sector Discussed in New Lucintel Research Study Available at MarketPublishers.com25 Sep 2015 • by Natalie Aster
LONDON – The hospitality event service sector is gaining traction worldwide. The industry is poised to grow at 5.4% CAGR during 2015-2020. The major factors driving the growth in the market are an improving global economy, hike in consumer expenditures, the rise of travel and tourism, and an increase in air passenger traffic. Other important factors fuelling the market growth comprise the adoption of the open skies policy, rising low-cost carrier penetration, and growing number of international visitor arrivals.
The retail and duty-free shops represent the largest market segment, with the situation likely remain unchanged in the foreseeable future. The demand for baggage handling services is predicted to witness the highest growth in the offing, underpinned by increasing expansion strategies implemented by industry players across the Middle East region and in China. Catering services and retail and duty-free shops are set to demonstrate above average growth over the forecast period.
The Asia-Pacific market will likely remain the largest one owing to a large number of air travelers in tandem with a rise in the governments’ spending plans in India and China. The North America and European regions are set to witness huge growth in the upcoming years on the back of rising passenger traffic, consumer spending, and foreign trade.
New research report “Global Hospitality Event Service Industry 2015-2020 - Trends Forecast and Opportunity Analysis” elaborated by Lucintel is a comprehensive guide to the global hospitality event service market. The study presents global market size estimation; offers an analysis of key trends prevailing in the industry during 2009-2014 and forecasts to 2020, by segment and by region; offers industry size estimates by different service types; presents the sector breakdown by leading regions; explores the growth opportunities in various segments and regions; reviews emerging applications of global hospitality event services in various segments. The research report investigates the competitive scene and discusses the leading players including their service portfolios, market shares, expansion strategies such as M&As, new services development, among others. It includes an in-depth analysis of the competitive intensity of the industry.
Global Hospitality Event Service Industry 2015-2020 - Trends Forecast and Opportunity Analysis
Date: September, 2015
Price: US$ 3,900.00
More new market research reports by the publisher can be found at Lucintel page.