The global sharing accommodation market growth is attributed to the rise of the millennial generation, the increase in global tourism, and the development of online booking platforms.
PORTLAND, Ore., Oct. 24, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Sharing Accommodation Market by Type (Business to Consumer (B2C), Business to Business (B2B), and Peer to Peer (P2P)), and Application (Generation Z, Millennials, Generation X, and Boomer), Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, The global sharing accommodation market size was valued at $120.8 billion in 2022, and is projected to reach $235.7 billion by 2032, growing at a CAGR of 6.4% from 2023 to 2032.
Request Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/127435
Shared accommodation is when two or more people are living together in the same place. This could be a home or an apartment. In shared accommodation, two or more people have a bedroom or a living space in the same property. They also share common areas like a kitchen, a living room or a bathroom. There are many forms of shared accommodation. For example, roommates living together in an apartment are called co-living. They rent separate rooms in a bigger shared space. Shared housing for students and professional roommates often involves sharing rent, utilities, and other household expenses. Accommodation sharing has many benefits such as cost savings due to cost sharing between residents, increased social connections, and sense of belonging.
Prime Determinants of Growth:
The global sharing accommodation market is driven by factors such as the rise of the millennial generation, boom in global tourism, and increase in popularity of online platforms. However, the rise in fraudulence and increasing price of traditional lodging restrict market growth. Moreover, the growth of sustainable and eco-friendly accommodation options offers new opportunities in the coming years.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $120.8 Billion |
Market Size in 2032 | $235.7 Billion |
CAGR | 6.4 % |
No. of Pages in Report | 212 |
Segments covered | Type, Application, and Region |
Drivers | Rise of the millennial generation Boom in global tourism Increase in popularity of online platforms |
Opportunities | Increase in group tourism Surge in eco-friendly accommodations |
Restraints | Rise in fraudulence Rise in price of lodging |
Procure Complete Report (212 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/3526b6131b8efa2140a9b909adb38b20
The business to consumer (B2C) segment to maintain its leadership status throughout the forecast period-
Based on type, the business to consumer (B2C) segment dominated the market in 2022 accounting for more than three-fifths of the global sharing accommodation market share and is expected to dominate the market during the forecast period. On the other hand, the business to business (B2B) segment is projected to manifest the highest CAGR of 7.7% from 2023 to 2032. This is due to the increase in global tours and travel and increasing preference for personalized and immersive travel by the global travelers drives the demand for personalized booking through B2C channels.
The generation z segment to maintain its lead position during the forecast period-
On the basis of application, the generation z segment dominated the market in 2022 accounting for nearly half of the global sharing accommodation market share and is expected to maintain its lead position during the forecast period. Cost-effectiveness is important to Generation Z since they frequently seek cost-effective alternatives to conventional hotels. Additionally, their quest for unique and engaging travel experiences drives them to choose shared lodgings such as Airbnb, where they may stay in special locally owned apartments. However, the generation X segment would display the fastest CAGR of 7.9% during the forecast period.
Europe to maintain its dominance by 2032-
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global sharing accommodation market revenue and is likely to dominate the market during the forecast period. Tourism has emerged as an essential part of the modern hospitality industry and economy in the European region. The Europe sharing accommodation market is driven by rise in the trend of authenticity, and demand for non-traditional accommodation among travelers in the region. On the other hand, the Asia-Pacific region would portray the fastest CAGR of 7.6% during the forecast period.
Enquire before buying: https://www.alliedmarketresearch.com/purchase-enquiry/127435
Leading Market Players: -
- Airbnb, Inc.
- HomeExchange.com Inc.
- Homestay Technologies Limited
- Bedycasa
- Findroommate.dk ApS
- InnoPeople Company Ltd.
- Expedia Group, Inc.
- Booking Holdings, Inc.
- HomeToGo GmbH
- Accor SA.
The report provides a detailed analysis of these key players in the global sharing accommodation market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Read More Trending "AMR Exclusive Insights:
• Travel Accommodation Market Opportunity Analysis and Industry Forecast, 2021-2031
• Europe Travel Accommodation Market Opportunity Analysis and Industry Forecast, 2021-2031
• Italy Travel Accommodation Market Opportunity Analysis and Industry Forecast, 2022-2031
• Mexico Travel Accommodation Market Opportunity Analysis and Industry Forecast, 2022-2031
• Canada Travel Accommodation Market Opportunity Analysis and Industry Forecast, 2022-2031
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/sharing-accommodation-market-to-reach-235-7-billion-by-2032-at-6-4-cagr-allied-market-research-301964959.html
