The non-residential accommodation services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Non-Residential Accommodation Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The non-residential accommodation services market size has grown rapidly in recent years. It will grow from $957.72 billion in 2023 to $1090.61 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to economic cycles, globalization, industry regulations, demographic shifts, the rise of remote and gig workers.
The non-residential accommodation services market size is expected to see steady growth in the next few years. It will grow to $1309.06 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to hybrid work arrangements, sustainable practices, health and safety concerns, integration of more ai-driven services, regulatory changes. Major trends in the forecast period include sharing economy platforms, workcation and bleisure, personalization and experience, contactless services, wellness and well-being.
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Scope Of Non-Residential Accommodation Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Non-Residential Accommodation Services Market Overview
Market Drivers –
The increasing use of social media and access to mass media is positively impacting the tourism and non-residential accommodation industries. With tourists sharing their travel information, photographs, and videos on social media platforms, people are increasingly becoming aware of the tourist destinations and recreational experiences offered by different countries around the world. For instance, in October 2022, according to a report published by Kepios Pte. Ltd., a Singapore-based online reference-based library, over the last year, social media users increased by 227 million, reaching 4.70 billion by the beginning of July 2022. Over the last year, the global social media user base has grown by more than 5%, with the most recent global total now equaling 59 percent of the world’s total population. Every day, the world spends more than 10 billion hours on social media platforms, which is nearly 1.2 million years of human existence. Therefore, the increasing use of social media and access is driving the growth of the tourism and non-residential accommodation.
The non-residential accommodation services market covered in this report is segmented –
1) By Type: Hotel And Other Travel Accommodation, Camping And Caravanning, Students And Workers Non-residential Accommodation
2) By Price Point: Economy, Mid-Range, Luxury
3) By Channel: Direct Sales, Distributor
4) By Mode of Booking: Online Bookings, Direct Bookings, Other Mode Of Booking
Subsegments Covered: Hotel And Motel, Casino Hotels, Bed And Breakfast Accommodation, All Other Traveler Accommodation, RV (Recreational Vehicle) Parks And Campgrounds, Recreational And Vacation Camps, Dormitories, Off Campus Establishments, Migrant Workers’ Camps
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Regional Insights –
Asia-Pacific was the largest region in the non-residential accommodation services market in 2023. North America was the second largest region in the non-residential accommodation services market. The regions covered in the non-residential accommodation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the non-residential accommodation services market include Marriott International, MGM Resorts International, Rewe Group, Ctrip.Com International Ltd, Intercontinental, Hilton Worldwide Holdings, Accor Hotels, TUI Group, Shanghai Jin Jiang International Hotels (Group) Company Limited, Starwood Hotels, Hyatt Hotels Corporation, Four Seasons Hotels and Resorts, Wyndham Hotels and Resorts, Choice Hotels International, Best Western International, Carlson Rezidor Hotel Group, Mandarin Oriental International Limited, Shangri-La Asia Limited, The Indian Hotels Company Limited, Jumeirah International LLC, Extended Stay America, Red Roof Inn, Motel 6, La Quinta Inns & Suites, Candlewood Suites, Staybridge Suites, Homewood Suites by Hilton, Residence Inn by Marriott, TownePlace Suites by Marriott, SpringHill Suites by Marriott.
Table of Contents
1. Executive Summary
2. Non-Residential Accommodation Services Market Characteristics
3. Non-Residential Accommodation Services Product/Service Analysis -Product/Service Examples
4. Non-Residential Accommodation Services Market Trends And Strategies
5. Non-Residential Accommodation Services Market – Macro Economic Scenario
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68. Global Non-Residential Accommodation Services Market Competitive Benchmarking
69. Global Non-Residential Accommodation Services Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Non-Residential Accommodation Services Market
71. Non-Residential Accommodation Services Market Future Outlook and Potential Analysis
72. Appendix
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