Non-Residential Accommodation Services Market Analysis With Opportunity Segments For 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UK, September 3, 2024 /EINPresswire.com/ -- The non-residential accommodation services market has experienced robust growth in recent years, expanding from $957.72 billion in 2023 to $1,090.61 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.

Strong Future Growth Anticipated
The non-residential accommodation services market is projected to continue its strong growth, reaching $1,309.06 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.

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Growth Driver Of The Non-Residential Accommodation Services Market
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.

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Major Players And Market Trends
Key players in the non-residential accommodation services market include Marriott International, MGM Resorts International, Rewe Group, Ctrip.Com International Ltd., Intercontinental, Hilton Worldwide Holdings.

Major companies operating in non-residential accommodation markets are increasing their focus on introducing artificial intelligence (AI) tools to gain a competitive edge in the market. An AI-powered tool is a software or hardware application that utilizes AI technologies, such as machine learning, natural language processing, or computer vision, to perform specific tasks.

Segments:
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

Geographical Insights: Asia-Pacific Leading The Market
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.

Non-Residential Accommodation Services Market Definition
Non-residential accommodation refers to real estate that is not a dwelling, such as a commercial or industrial space, a place of worship, a hotel, a hospital, a school, or a facility owned by the government. Non-residential accommodations include small businesses, commercial agriculture buildings, industrial buildings and warehouses.

Non-Residential Accommodation Services Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Non-Residential Accommodation Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on non-residential accommodation services market size, non-residential accommodation services market drivers and trends, non-residential accommodation services market major players, non-residential accommodation services competitors' revenues, non-residential accommodation services market positioning, and non-residential accommodation services market growth across geographies. The non-residential accommodation services market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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