Yahoo Finanza Dormitories Global Market Report 2023
Major players in the dormitories market are Harrison Street, The Preiss Company, Greystar, The Scion Group LLC, Asset Living LLC, The Collier Companies, American Campus Communities, Kyoritsu Maintenance Co.
New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Dormitories Global Market Report 2023" - https://www.reportlinker.com/p06464109/?utm_source=GNW
Ltd., Rzeszów University of Technology, Metropolitan Housing Trust Limited, Civeo Corporation, University Living, Yugo USA LLC, Metropolitan Housing Trust Limited, and Civeo Corporation.
The global dormitories market is expected to grow from $15.99 billion in 2022 to $17.95 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The dormitories market is expected to reach $27.00 billion in 2027 at a CAGR of 10.7%.
The dormitories market includes revenues earned by entities by providing dormitory services such as boarding houses, accommodations, and lodging houses.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Dormitory refers to a large residential building or facility that offers accommodation services to groups of people such as students or workers. Dormitories are often located on or near college and university campuses, as well as military bases providing affordable housing options.
North America was the largest region in the dormitories market in 2022. The regions covered in dormitories report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of dormitories included are rooming and boarding houses and college housing.Rooming and boarding houses refer to residential structures in which individuals or families can rent a room or a portion of a house, usually with shared common areas like bathrooms and kitchens.
Various services provided are PBSA (Purpose Built Student Accommodation), private rented sector, university accommodation, and others, which are used for various applications, including freshman, sophomore, junior, senior, 5th year or later, and graduate students.
The increasing student population is expected to propel the growth of the dormitories market going forward.Dormitories are commonly used by students as a convenient and cost-effective lodging option.
Furthermore, dormitories provide students with the opportunity to live in a social and diverse environment, allowing them to form relationships with students from various backgrounds.Moreover, dormitories are an attractive option for students due to their affordability and proximity to campus.
For instance, in January 2022, according to the Higher Education Statistics Agency (HESA), a UK-based official agency that collects and publishes data about higher education of the country, 2,751,865 students were enrolled in higher education overall in 2020–21, an increase of 9% from 2019–20.While the number of first-year degree applicants increased by 8%, the number of first-year postgraduate students increased by 16%.
First-year enrolment increased by 4% for non-UK students and by 13% for students from the UK. First-year enrolment from India increased by 27%. Therefore, an increasing student population is driving the growth of the dormitories market.
Technological advancements are a key trend gaining popularity in the Dormitories market.Companies operating in the dormitories market are integrating new technologies to develop innovative student housing solutions and sustain their position in the market.
For instance, in September 2020, Huawei, a China-based multinational technology corporation, installed an AirEngine Wi-Fi 6 solution in the dormitory campus of Southeast University.It is constructed with only optical Ethernet networks.
Huawei installed an AirEngine 5760-22W Wi-Fi 6 wall plate access point (AP) in every hostel, taking into account the distinctive architectural aspects of the campuses.These APs have industry-leading smart antennas, which allow signals to follow users as they walk, ensuring complete Wi-Fi coverage with no blind spots.
This technology ensured strong signal reception throughout the dorms. Also, the built-in Bluetooth capability of the APs facilitates Wi-Fi and Internet of Things (IoT) convergence, which will be helpful as IoT development picks up speed in the future.
In October 2022, Global Student Accommodation (GSA), a UK based student housing service provider, acquired five-property student housing portfolio from Harrison Street Real Estate Capital, LLC for an undisclosed amount.With this acquisition, GSA has increased its capacity by over 1,600 beds and aims to strengthen its market leadership role in Charleston.
GSA has added five student housing assets to its portfolio, including the Ruckus on Rio in Austin, Texas. Harrison Street Real Estate Capital, LLC is UK-based investment management company focused on in student housing and dormitory services.
The countries covered in the dormitories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The dormitories market research report is one of a series of new reports that provides dormitories market statistics, including dormitories industry global market size, regional shares, competitors with a dormitories market share, detailed dormitories market segments, market trends and opportunities, and any further data you may need to thrive in the dormitories industry. This dormitories market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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