Insights Into The Dormitories Market’s Growth Opportunities Through 2023-2032 – Includes Dormitories Market Trends
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The growing student population is likely to encourage innovation in dormitory production, hence propelling the market throughout the forecast period.
The global dormitories market is expected to grow from $15.99 billion in 2022 to $17.95 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The global dormitories market size is expected to reach $27.00 billion in 2027 at a CAGR of 10.7%.
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Global Dormitories Market Segments Include:
- By Type: Rooming And Boarding Houses, College Housing
- By Service Type: PBSA, Private Rented Sector, University Accommodation, Other Services
- By Application: Freshman, Sophomore, Junior, Senior, 5Th Year Or Later, Graduate Student
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global dormitories market in 2021.
Major Market Players in the dormitories market include Harrison Street, The Preiss Company, Greystar, The Scion Group LLC, Asset Living LLC, The Collier Companies, American Campus Communities, Kyoritsu Maintenance Co. Ltd.
Technological developments are a major trend that is gaining traction in the Dormitories industry. Dormitory operators are incorporating new technologies to create unique student housing options and maintain their market position. For example, Huawei, a Chinese multinational technology business, will implement an AirEngine Wi-Fi 6 solution in Southeast University’s dormitory campus in September 2020. It is built entirely of optical Ethernet networks. Huawei placed an AirEngine 5760-22W Wi-Fi 6 wall plate access point (AP) in each dormitory, taking into account the campuses’ various architectural features. These access points have industry-leading smart antennae that allow signals to follow users as they travel, ensuring comprehensive Wi-Fi coverage with no dead zones. This technology ensured that excellent signal reception was maintained throughout the dorms. Furthermore, the APs’ built-in Bluetooth functionality promotes Wi-Fi and Internet of Things (IoT) convergence, which will be useful as IoT development accelerates in the future.
The Dormitories Global Market Report 2023 provides a dormitories market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The dormitories market forecast analyzes dormitories market size, dormitories market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A dormitory is a big residential building or facility that provides housing for groups of people such as students or workers. Dormitories are frequently found on or near college and university campuses, as well as military facilities that provide affordable lodging.
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