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Mini Bar Market Size Worth USD 1.49 Billion by 2024: Hexa Research


News provided by

Hexa Research

02 Apr, 2018, 10:15 GMT

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FELTON, California, April 2, 2018 /PRNewswire/ --

The global minibar market size to reach USD 1.49 billion by 2024, owing to the transformation, growth, and emergence of the hospitality industry worldwide. With the rise in the demand for customer satisfaction and necessity of enhancing profitability in the hotel industry, the demand of minibars is estimated to grow over the forecast period. In addition, the increasing prerequisites of consumers and guests for hassle free services, high comfort, facilities, and luxury while travelling and their stay at elite hotels is anticipated to encourage the market growth. This in turn is expected to reassure the hotel industry to focus on providing value added services such as safety box, laundry, Wi-Fi, ironing, dry cleaning, minibars, in-room dining and others. One of the services offered by exclusive hotels nowadays is the in-room minibars, which adds to customer experience.

The prevailing rate of installation of minibars in rooms of luxury hotels poses growth potential for the global minibar market. Cherishable customer experiences results in enhanced customer loyalty and promotes continued association of customers in future as well, which in turn fuels the growth of minibar market on a global scale.

In terms of product type, the automatic minibars market is expected to grow driven by rise in technological advancements, and use of automated systems in the hospitality industry to ensure privileged services and ensure hassle-free customer handling.

Browse full research report with TOC on "Minibar Market Size Analysis By Product (Automatic, Manual), By Technology (Absorption, Compression, Thermoelectric), By Application (Transportation, Commercial & Residential buildings), And Segment Forecasts, 2014 - 2024" at: https://www.hexaresearch.com/research-report/minibar-market

The market for absorption minibars market is estimated to develop swiftly on account of the existing properties such as environment friendly, completely silent, highly reliable, energy efficient, and offers an extended service life. With the rise in technological advancements, automatic minibars can detect missing items, charge the guests based on the usage of the products using sensors and can be synchronized with the property management system (PMS) of hotels. The use of minibars owing to the features offered by them such as fully automated systems which solve issues faced by hotels and offices at operational levels is projected to fuel the overall market growth over the forecast period. The use of minibar in hotels to deliver customer satisfaction is expected to support the market growth for the global minibar market during the forecast period.

In terms of geography, the use of minibars in Asia Pacific is estimated to develop the fastest owing to the budding commercial and hospitality sector, growing tourism, and large customer base in the hospitality, recreational, and other commercial spaces.

Browse more reports by Hexa Research: 

  • U.S. Online Eyewear Market - U.S. online eyewear market was valued at USD 338 million in 2017 and is expected to grow to a lucrative rate over the projection period on account of growing demand for spectacles and contact lenses in geriatric population coupled with an increasing prevalence of age related vision problems.
  • Australia Footwear Market - Australia footwear market was valued at USD 3.2 billion in 2017 and is expected to grow over the forecast period. Market is primarily driven by increasing discretionary spending coupled with the rising fashion trends in the country. The revenue for footwear industry is projected to grow on account of mounting demand for sports and fashionable shoes.
  • Europe Fuel Card Market - Europe fuel card market size was estimated at USD 60.72 billion in 2016 and is expected to witness significant growth owing to the rise in demand of digital transactions, availability of additional benefits and prevention of theft. Moreover, the savings on fuel spending is luring fleet managers towards adopting cards.
  • U.S. Online Residential Furniture Market - U.S. online residential furniture market size was valued at USD 16.5 billion in 2016 and is expected to grow over the forecast period. Growth in the market is attributed to the stability in real estate industry at large and strengthening of consumer confidence.

Hexa Research has segmented the global mini bar market report based on product type, technology, application and region: 

Segmentation by product, 2014 - 2024 (USD Million) 

• Automatic

• Manual

Segmentation by technology, 2014 - 2024 (USD Million) 

• Absorption

• Compression

• Thermoelectric

Segmentation by application, 2014 - 2024 (USD Million) 

• Transportation

• Commercial & Residential buildings

Segmentation by region, 2014 - 2024 (USD Million) 

• North America

      • U.S.

      • Canada

• Asia Pacific

      • China

• Europe

      • Germany

      •  UK

• Central & South America

• Middle East & Africa

Key players analyzed: 

• Bartech

• Dometic Group AB (publ)

• Indel B S.p.A.

• Vitrifrigo

• Minibar Systems

About Hexa Research 

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact:
Michelle T.
Corporate Sales Specialist
Hexa Research
Phone: +1-415-349-0058
Toll Free: 1-800-489-3075
Email: sales@hexaresearch.com

Web: https://www.hexaresearch.com/

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