EMEA hotel TV market to top North America by 2012
Rising occupancy and increased travel rates among both businesspeople and consumers is spurring the global hotel industry to upgrade the old CRT-TVs in guest rooms to flat-panel sets.
This will cause hotel television sales to this segment to rise by a predicted factor of 11 from 2007-2012 according to market analysts iSuppli.
iSuppli’s newly revised forecast predicts global hotel TV shipments will grow to 9.7 million units by 2012, managing a CAGR of 61.5% from 894,527 units in 2007.
“Long a staple of the CRT-TV market, hotels are switching to flat-panel display televisions, paralleling the shift that is occurring amongst consumers,” said Sanju Khatri, principle analyst for projection and large-screen displays at iSuppli. “Hoteliers are noting that their guests desire more than just the standard hospitality elements that satisfied them in the past, like CRT-TVs.”
In the EMEA region, the company predicts that shipments will rise to 3.0 million units in 2012, increasing at a CAGR of 72% from the 2007 figure of almost 200,000. By that time, EMEA will surpass North America as the world’s largest region for hotel TV shipments.