Press release
Global Students and Workers Non-Residential Accommodation Market Forecast: USD 42.24 Billion by 2032, an Astounding Growth Rate of 10.40%
Dataintelo
The current market trend is moving beyond traditional student dormitories and worker hostels, instead gravitating towards more innovative living arrangements including co-living spaces and purpose-built student accommodations (PBSAs). Driven by the increasing demand for affordable, flexible, and convenient living solutions, these novel accommodation forms are redefining the sector. They offer shared amenities alongside a perfect mix of privacy and social interaction, tailored to meet the unique requirements of contemporary students and a transient workforce.
The market landscape is also witnessing evolution due to growing regulatory oversight. The UK's Housing Act, among other recently introduced regulations, is enforcing strict safety, hygiene, and management standards in non-residential accommodations. In an effort to comply with these standards, accommodation providers are compelled to elevate their facilities and services, thereby improving the overall quality of accommodation available for students and workers. The projected outcome of such regulatory measures is expected to foster a competitive market environment, with providers striving diligently to offer superior accommodations
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/88489
๐๐ก๐ข๐ฌ ๐ข๐ฌ ๐จ๐ง๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐จ๐ฌ๐ญ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐ ๐๐จ๐ฏ๐๐ซ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐ฌ:
The students and workers non residential accommodation market has been segmented on the basis of๐๐๐๐จ๐ฆ๐ฆ๐จ๐๐๐ญ๐ข๐จ๐ง ๐๐ฒ๐ฉ๐
โ Dormitory
โ Apartment
๐๐๐๐ฎ๐ฉ๐๐ง๐๐ฒ
โ Single
โ Multiple
๐๐ฆ๐๐ง๐ข๐ญ๐ข๐๐ฌ
โ Basic
โ Premium
๐๐๐ ๐ข๐จ๐ง
โ Asia Pacific
โ North America
โ Latin America
โ Europe
โ Middle East & Africa
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
โ ๐๐๐๐จ๐ซ
โ Hilton Worldwide
โ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐๐๐, ๐๐๐.
Segment Analysis:
The student and workers non-residential accommodation market is categorized along lines of accommodation type, occupancy, and amenities. Accommodation types are further classified into dormitories and apartments. Dormitories are typically associated with a lower-cost option and often preferred by students due to their affordability. Apartments, on the other hand, are a more upscale form of non-residential accommodation which provides more privacy and are often chosen by workers. Occupancy in the market is either single or multiple. Single occupancy accommodations offer solitude, whilst multiple occupancy offers a sense of community and shared responsibilities. Based on amenities, the market is bifurcated into basic and premium. Basic amenities refer to the necessary services like electricity, water, and heat whereas premium amenities include extras such as Wi-Fi, in-house laundry facilities, recreational spaces, etc.
Regional Analysis:
The market for non-residential accommodation for students and workers is spread globally. In the Asia Pacific region, growing student enrolment in international universities and increasing working population are driving the market. North America follows closely due to a high inflow of international students and migrant workers requiring non-residential accommodations. Latin America is witnessing a steady growth with improving education and employment opportunities. In Europe, the escalating number of higher education students combined with a strong workforce is positively impacting the market. Lastly, in the Middle East & Africa, market growth is seen with the increasing number of expatriate students and workers. Key players like Accor, Hilton Worldwide, and MARRIOTT INTERNATIONAL, INC. have a broad presence across these regions and contribute significantly to the market dynamics. Their strategies and offerings to cater to changing requirements are essential elements influencing the trends in the market
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/88489
Market Drivers:
1. Increase in Student Population: The increasing number of students pursuing higher education, especially in foreign countries, is driving the growth of the non-residential accommodation market.
2. Job Mobility: Increased mobility for jobs in various sectors across different cities and countries is a major market driver. People moving for work, both short and long term, require non-residential accommodations.
3. Increased international travel: With the rise in global travel for business or leisure, there is a high demand for non-residential accommodations like hotels, hostels, motels, etc.
4. Digital platforms: The rise of digital platforms for booking accommodations has made the process easier and more user-friendly, driving more people to opt for non-residential accommodations.
Opportunities:
1. Technological advancements: Emerging technologies like AI, IoT, virtual reality, etc., can revolutionize the sector by providing personalized experiences to customers.
2. Collaborations and Partnerships: Strategizing partnerships with universities and companies can lead to consistent demand.
3. Eco-friendly accommodations: As sustainability becomes more important, providing eco-friendly accommodations can attract a niche market of environmentally-conscious customers.
4. Co-living and Co-working spaces: The trend of co-living and co-working spaces is growing among students and young professionals. This trend can be exploited to diversify offerings and increase revenue.
5. Catering to customer needs: Providing added services such as Wi-Fi, laundry, meals, etc., can attract more customers and increase customer satisfaction.
6. Targeting the budget market: By offering affordable yet comfortable accommodation, businesses can target the large market of value-conscious consumers, such as students and budget travelers
๐๐จ๐ฎ ๐๐๐ง ๐๐ข๐ซ๐๐๐ญ๐ฅ๐ฒ ๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ซ๐จ๐ฆ: https://dataintelo.com/checkout/88489
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๐๐ฆ๐๐ข๐ฅ ๐ฎ๐ฌ ๐จ๐ง - ๐ฌ๐๐ฅ๐๐ฌ@๐๐๐ญ๐๐ข๐ง๐ญ๐๐ฅ๐จ.๐๐จ๐ฆ
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