Dormitories Global Market Report 2023: Increasing Student Populations is Expected to Propel Growth

DUBLIN, June 27, 2023 /PRNewswire/ -- The "Dormitories Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

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 dormitories market is expected to reach $27.00 billion in 2027 at a CAGR of 10.7%.

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. Ltd., Rzeszow University of Technology, Metropolitan Housing Trust Limited, Civeo Corporation, University Living, Yugo USA LLC, Metropolitan Housing Trust Limited, and Civeo Corporation.

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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.

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 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.

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. 

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.

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 countries covered in the dormitories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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.

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.

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.

Key Topics Covered:

1. Executive Summary

2. Dormitories Market Characteristics

3. Dormitories Market Trends And Strategies

4. Dormitories Market - Macro Economic Scenario
4.1. COVID-19 Impact On Dormitories Market
4.2. Ukraine-Russia War Impact On Dormitories Market
4.3. Impact Of High Inflation On Dormitories Market

5. Dormitories Market Size And Growth
5.1. Global Dormitories Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Dormitories Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Dormitories Market Segmentation
6.1. Global Dormitories Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Rooming And Boarding Houses
• College Housing

6.2. Global Dormitories Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Purpose-Built Student Housing (PBSA)
• Private Rented Sector
• University Accommodation
• Other Services

6.3. Global Dormitories Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Freshman
• Sophomore
• Junior
• Senior
• 5Th Year Or Later
• Graduate Student

7. Dormitories Market Regional And Country Analysis
7.1. Global Dormitories Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Dormitories Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/3njww8

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