The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The students and workers non-residential accommodation market has witnessed substantial growth, surging from $17.18 billion in 2023 to $18.98 billion in 2024, showcasing an impressive Compound Annual Growth Rate (CAGR) of 10.4%. This growth can be attributed to factors such as educational enrollment, economic conditions, urbanization, government policies, and demographic shifts.

Historical Growth Drivers

• Educational Enrollment: Rise in the number of students and workers seeking non-residential accommodation.
• Economic Conditions: Economic stability impacting accommodation choices.
• Urbanization: Growing urban areas leading to increased demand for non-residential accommodation.
• Government Policies: Policies influencing the accommodation sector.
• Demographic Shifts: Changes in population dynamics affecting accommodation needs.

Anticipated Growth and Influencing Factors
The market is expected to experience rapid growth in the coming years, reaching $29.16 billion by 2028 at a projected CAGR of 11.3%. The forecasted growth is attributed to the adoption of online and hybrid education methods, the surge in remote work trends, international mobility, sustainability, ESG considerations, and adherence to health and safety regulations.

Forecast Period Dynamics

• Online and Hybrid Education: Increasing adoption of flexible education models.
• Remote Work Trends: Changing work dynamics influencing accommodation choices.
• International Mobility: Demand from students and workers seeking global opportunities.
• Sustainability and ESG: Emphasis on environmentally friendly and socially responsible practices.
• Health and Safety Regulations: Compliance with regulations for occupant well-being.

Emerging Trends

Major trends shaping the forecast period include:

• Flexible Accommodation Models: Catering to varied preferences and needs.
• Technology Integration: Utilizing technology for enhanced services.
• Sustainability Practices: A growing focus on environmentally friendly solutions.
• Wellness and Comfort: Prioritizing occupant well-being.
• Customization and Personalization: Tailoring accommodations to individual needs.

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Globalization’s Impact on Accommodation
The impact of globalization on the students and workers non-residential accommodation market is noteworthy. This phenomenon is fostering joint ventures, foreign investments, and global expansion, allowing for diverse cuisines to be offered worldwide. Globalization has facilitated the procurement of exotic ingredients, enabling restaurants to provide a broader variety of dishes. Notable companies in this market include American Campus Communities, Unite Group PLC, Campus Apartments Inc., and others.

Globalization Drivers

• Joint Ventures and Foreign Investments: Exploring opportunities in high-growth regions.
• Global Expansion: Expanding operations across borders.
• Multi-National Companies: Establishing facilities worldwide.
• Access to Exotic Ingredients: Enhancing culinary offerings globally.
• Increased Vendor Options: Lowering supplier bargaining power.

Focus on Quality Living Experiences
Leading companies in the non-residential accommodation sector are prioritizing high-quality living experiences to maximize profitability. This emphasis encompasses factors such as comfortable accommodations, access to essential services, safety, a sense of community, and amenities enhancing daily life.

Strategic Initiatives

• Abrdn PLC’s MYS Student Living: A platform addressing the student housing shortage in the UK and Europe.
• Purpose-Built Student Accommodation (PBSA): Focusing on sustainability and well-being.
• Energy-Efficient Technologies: Incorporating green practices for environmental impact.

Market Segmentation for Varied Needs
Understanding the diverse needs of students and workers, the market is segmented based on accommodation types, price points, channels, and modes of booking.

1. Type:
   • Dormitories
   • Off-Campus Establishments
   • Migrant Workers’ Camps
2. Price Point:
   • Economy
   • Mid-Range
   • Luxury
3. Channel:
   • Direct Sales
   • Distributor
4. Mode of Booking:
   • Online Bookings
   • Direct Bookings
   • Other Modes of Booking

Regional Dominance
In 2023, Western Europe emerged as the largest region in the students and workers non-residential accommodation market. The dominance of this region signifies substantial market presence and consumer demand.

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The Students And Workers Non-residential Accommodation Global Market Report 2024  provides an overview of the students and workers non-residential accommodation market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The students and workers non-residential accommodation market forecast analyzes students and workers non-residential accommodation market size, students and workers non-residential accommodation market share, leading competitor and their market positions.

The Table Of Content For The Students And Workers Non-residential Accommodation Market Include:
1. Students And Workers Non-residential Accommodation Market Executive Summary
2. Students And Workers Non-residential Accommodation Market Segments
3. Students And Workers Non-residential Accommodation Market Size And Students And Workers Non-residential Accommodation Market Growth Rate
4. Key Students And Workers Non-residential Accommodation Market Trends
5. Major Students And Workers Non-residential Accommodation Market Drivers
……
25. Key Mergers And Acquisitions In The Students And Workers Non-residential Accommodation Market
26. Top Students And Workers Non-residential Accommodation Companies
27. Students And Workers Non-residential Accommodation Market Opportunities And Strategies
28. Students And Workers Non-residential Accommodation Market, Conclusions And Recommendations
29. Appendix

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