About Evening Economy
Evening economy can be described as economic activities taking place in the evening after finishing the daytime employment or education. It covers a wide range of activities in the city and town such as drinking, eating, and nightlife. The evening economy has its own unique qualities which makes it distinct from the daytime. This creates a sense of fun and enjoyment and boosts a happy and healthy lifestyle. The evening economy covers a clean, safe, vibrant and engaging environment for people.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.2% |
The global Evening Economy market is fragmented with the presence of various players. Companies offer a clean, safe and engaging environment for different kinds of people. It is also offering recreation for the employees after finishing the work. The player is also participating in strategic activities like mergers & acquisitions to enhance their market presence Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Evening Economy market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Starbucks Coffee Company (United States), McDonald's (United States), Maybourne Hotel Group. (United Kingdom), SG Management Inc.( Japan), JIGGER & PONY (Singapore), Floreria Atlantico (Argentina), SALMON GURU (Spain), Bulgari Hotel & Resorts (Italy), Wyndham Hotel Group (United States), Marriot International (United States) and InterContinental Hotels Group (IHG) (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Evening Economy market by Type (Coren {Food, Drink, and Entertainment}, Indirect {Accommodation, Retail, Parking, Cabs} and Supporting {Care, Infrastructure, Public Transport}), Application (Town, Cities and Others) and Region.
On the basis of geography, the market of Evening Economy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User, the sub-segment i.e. Adults will boost the Evening Economy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Measures Regulating and Diversifying the Array of Social and Economic Activities
Market Growth Drivers:
Growing demand for safe, vibrant, and well balanced evening among the individual and Increasing need for Essential Services and Transport among the night- time workers
Challenges:
Cutthroat Competition in The Evening Economy Markets with The Presence Of Numerous Players
Restraints:
Social Pressure and Regulatory Guidelines May Restraint Evening Economy Market
Opportunities:
Increasing Evening Economy Market Promoting Growth of Business and Rising Employment in Future
Market Leaders and their expansionary development strategies
On March 23, 2021, Marriott International, Inc. (NASDAQ: MAR) announced it has signed an agreement with Al Saedan Group, a leading real estate company in the Middle East, to open three hotels across Saudi Arabia. The multi-project agreement includes the country and territory's first Renaissance Hotel, the world's largest Aloft Hotel and a Courtyard by Marriott in the Holy City of Makkah. All three properties are projected to open by 2025.
On Dec 12, 2023, Starbucks and McDonald's announced a partnership to source coffee more sustainably. The collaboration aims to improve coffee farming practices and farmer livelihoods, focusing on areas like shade-grown coffee and farmer training. This partnership could significantly impact the coffee industry, promoting more responsible sourcing practices.
Key Target Audience
Evening Economy Service Providers, Research and Development Institutes, Evening Economy Potential Investors, Industry Associations, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.