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What are the latest figures on the sharing accommodation market’s size and projected CAGR?
The sharing accommodation market size has grown strongly in recent years. It will grow from $124.89 billion in 2024 to $134.89 billion in 2025 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to the rise in co-living spaces, the emergence of online travel agencies (OTAs), the rising lower cost of travel with shared accommodations, the rise in eco-friendly accommodations, and the rise in online booking scams.
The sharing accommodation market size is expected to see strong growth in the next few years. It will grow to $181.11 billion in 2029 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increasing tourism, increasing popularity of convenience of online booking, increasing popularity of short-term rental services, increasing number of business travelers, and increasing number of millennials. Major trends in the forecast period include developing eco-friendly lodging, launching integrated digital concierge services, developing augmented reality features, integrating voice-activated booking systems, and developing artificial intelligence (AI)-powered search engine.
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Which Market drivers have played a significant role in driving the sharing accommodation market?
The rising tourism is expected to propel the growth of the sharing accommodation market going forward. Tourism is traveling to and staying in places outside one’s usual environment for leisure, business, or other purposes. The rising tourism is due to increased transportation accessibility and the growing desire for unique experiences, cultural exploration, and social media influence have made travel planning easier and more appealing. Sharing accommodations offers cost-effective, comfortable, and flexible lodging options for tourism with amenities such as Wi-Fi and workspaces. It also provides convenient locations close to business districts and meeting venues. For instance, in February 2024, according to ITA (International Trade Administration), a US-based government agency, In 2024, total international travels to the USA increased to 77.7 million, up from 66.5 million in 2023. Therefore, the rising tourism drives the sharing accommodation market.
What are the key segments within the sharing accommodation market?
The sharing accommodation market covered in this report is segmented –
1) By Product: Economy Type, Comfortable Type, Boutique Type, Luxury Type, Other Products
2) By Booking Mode: Offline, Online And Platform-Based
3) By Application: Tourism, Business Trip, Other Applications
Subsegments:
1) By Economy Type: Budget Rooms Or Hostels, Shared Dormitory Spaces, Low-Cost Private Rooms
2) By Comfortable Type: Standard Private Rooms, Guesthouses, Homestays With Basic Amenities
3) By Boutique Type: Themed Rooms, Designer Hostels, Unique Short-Term Rentals
4) By Luxury Type: Luxury Private Suites, High-End Villas Or Residences, Exclusive Luxury Shared Spaces
5) By Other Products: Farm Stays, Tiny Homes, Cabin Rentals, Houseboats And Floating Hotels
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Which key players are shaping the sharing accommodation market?
Major companies operating in the sharing accommodation market are Marriott International, Booking Holdings Inc., Radisson Hotel Group, Expedia Group Inc., Hilton Worldwide Holdings Inc., Airbnb Inc., Hyatt Hotels Corporation, Louvre Hotels Group, Accor SA, Vrbo, Wyndham Hotels & Resorts Inc., Shangri-La Asia Limited., Mandarin Oriental Hotel Group, HomeToGo GmbH, Onefinestay Reservations Limited, HomeExchange.com Inc., Couchsurfing, Bedycasa, Cozy Holdings Ltd., Homestay, Tujia
Which transformative trends will shape the sharing accommodation market landscape?
Major companies operating in the sharing accommodation market are focusing on enhancing user experience through advanced digital platforms to gain a competitive advantage. These platforms utilize artificial intelligence and machine learning to personalize user interactions and streamline booking processes. For instance, in January 2024, SilverDoor, a UK-based housing company, launched a new corporate housing API designed to streamline the booking and management of serviced apartments for corporate travel and relocation. This powerful API integrates SilverDoor’s extensive global portfolio of serviced accommodation with travel management companies’ (TMCs) platforms, allowing users to search, compare, and book serviced apartments alongside traditional hotel options. The API provides real-time availability, instant booking capabilities, and offers detailed comparisons of rates, amenities, and even carbon emissions.
How do regional factors impact the sharing accommodation market, and which region is the largest contributor?
Europe was the largest region in the sharing accommodation market in 2024. The regions covered in the sharing accommodation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Sharing Accommodation Market Report 2025 Offer?
The sharing accommodation market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Sharing accommodation is a business model where individuals rent out their residential properties, or parts thereof, to guests on a short-term or long-term basis through online platforms. This model leverages underused assets, connecting hosts and guests directly for peer-to-peer transactions.
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