The global sharing accommodation market 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.
Sharing accommodation, frequently referred to as "shared lodging" or "short-term rental," is a type of accommodation arrangement in which people or property proprietors rent out their houses, flats, or extra rooms to travelers on a short-term basis. With the emergence of internet platforms such as Airbnb, Vrbo, and HomeAway, this notion has grown in popularity. These sites link hosts with their guests, allowing travelers to find distinctive and sometimes cheaper lodgings than traditional hotels. Sharing accommodation allows travelers to stay in a range of locations, ranging from cozy urban apartments to rustic countryside houses, resulting in a more personalized and authentic travel experience. It allows property owners to monetize their facilities while also connecting with individuals from all over the world, resulting in an agreement that is mutually beneficial and has revolutionized the hospitality industry.
The surge in popularity of online platforms yields substantial advantages for the sharing accommodation market. These platforms serve as powerful tools to extend the reach of sharing accommodation offerings to a global audience, which allows the key players in the market to exhibit their properties to a diverse range of potential guests and customers. As a result of the optimization of the booking process, these platforms have introduced a high level of convenience for travelers that has enabled them to effortlessly search, evaluate, and secure accommodations, thus enriching the user experience and driving higher booking rates. In addition, the platforms enable direct and seamless communication between hosts and guests, which cultivates trust and fosters tailored interactions. This digital realm also promotes transparency through the utilization of reviews and ratings, which bolsters credibility and aids travelers in making well-informed decisions. Thus, by leveraging data-driven mechanisms, these online platforms facilitate precise targeting in marketing efforts, empowering hosts to align their offerings with specific preferences and demographics. Furthermore, the enhanced visibility, convenience, transparency, and personalized engagement that online platforms facilitate play a pivotal role in propelling the sharing accommodation market toward increased growth.
Growing popularity and demand for sharing accommodations, driven by factors like unique experiences and cost savings, have led to heightened competition for available listings. As a result of increased demand and competition, it has widely driven up rental prices. While the number of sharing accommodation options has increased, certain areas or seasons might experience limited supply, leading to higher prices due to demand for outstanding availability. In addition, regulatory changes or compliance requirements in certain locations might increase costs for hosts, which can be passed on to consumers through higher prices. Certain events, festivals, or peak travel seasons can result in increased demand for sharing accommodations, which may prompt hosts to raise prices accordingly. Rising prices might deter budget-conscious travelers, limit accessibility for certain demographics, and potentially prompt consumers to explore alternative accommodation options, which could slow down market growth.
The sharing accommodation market is segmented into type, application , and region. On the basis of type, the market is classified into business to consumer (B2C), business to business (B2B), and peer to peer (P2P). Depending on application, it is segregated into Generation Z, millennials, Generation X, and boomer. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and Rest of LAMEA).
Players operating in the global sharing accommodation market have adopted various developmental strategies to expand their sharing accommodation market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Airbnb, Inc., HomeExchange.com Inc., Homestay Technologies Limited, Bedycasa, Findroommate.dk ApS, InnoPeople Company Ltd., Expedia Group, Inc., Booking Holdings, Inc., HomeToGo GmbH, and Accor SA.
Sharing accommodation, frequently referred to as "shared lodging" or "short-term rental," is a type of accommodation arrangement in which people or property proprietors rent out their houses, flats, or extra rooms to travelers on a short-term basis. With the emergence of internet platforms such as Airbnb, Vrbo, and HomeAway, this notion has grown in popularity. These sites link hosts with their guests, allowing travelers to find distinctive and sometimes cheaper lodgings than traditional hotels. Sharing accommodation allows travelers to stay in a range of locations, ranging from cozy urban apartments to rustic countryside houses, resulting in a more personalized and authentic travel experience. It allows property owners to monetize their facilities while also connecting with individuals from all over the world, resulting in an agreement that is mutually beneficial and has revolutionized the hospitality industry.
The surge in popularity of online platforms yields substantial advantages for the sharing accommodation market. These platforms serve as powerful tools to extend the reach of sharing accommodation offerings to a global audience, which allows the key players in the market to exhibit their properties to a diverse range of potential guests and customers. As a result of the optimization of the booking process, these platforms have introduced a high level of convenience for travelers that has enabled them to effortlessly search, evaluate, and secure accommodations, thus enriching the user experience and driving higher booking rates. In addition, the platforms enable direct and seamless communication between hosts and guests, which cultivates trust and fosters tailored interactions. This digital realm also promotes transparency through the utilization of reviews and ratings, which bolsters credibility and aids travelers in making well-informed decisions. Thus, by leveraging data-driven mechanisms, these online platforms facilitate precise targeting in marketing efforts, empowering hosts to align their offerings with specific preferences and demographics. Furthermore, the enhanced visibility, convenience, transparency, and personalized engagement that online platforms facilitate play a pivotal role in propelling the sharing accommodation market toward increased growth.
Growing popularity and demand for sharing accommodations, driven by factors like unique experiences and cost savings, have led to heightened competition for available listings. As a result of increased demand and competition, it has widely driven up rental prices. While the number of sharing accommodation options has increased, certain areas or seasons might experience limited supply, leading to higher prices due to demand for outstanding availability. In addition, regulatory changes or compliance requirements in certain locations might increase costs for hosts, which can be passed on to consumers through higher prices. Certain events, festivals, or peak travel seasons can result in increased demand for sharing accommodations, which may prompt hosts to raise prices accordingly. Rising prices might deter budget-conscious travelers, limit accessibility for certain demographics, and potentially prompt consumers to explore alternative accommodation options, which could slow down market growth.
The sharing accommodation market is segmented into type, application , and region. On the basis of type, the market is classified into business to consumer (B2C), business to business (B2B), and peer to peer (P2P). Depending on application, it is segregated into Generation Z, millennials, Generation X, and boomer. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and Rest of LAMEA).
Players operating in the global sharing accommodation market have adopted various developmental strategies to expand their sharing accommodation market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Airbnb, Inc., HomeExchange.com Inc., Homestay Technologies Limited, Bedycasa, Findroommate.dk ApS, InnoPeople Company Ltd., Expedia Group, Inc., Booking Holdings, Inc., HomeToGo GmbH, and Accor SA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sharing accommodation market analysis from 2022 to 2032 to identify the prevailing sharing accommodation market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the sharing accommodation market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global sharing accommodation market trends, key players, market segments, application areas, and market growth strategies.
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- Expanded list for Company Profiles
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- SWOT Analysis
Key Market Segments
By Type
- Business to Consumer (B2C)
- Business to Business (B2B)
- Peer to Peer (P2P)
By Application
- Generation Z
- Millennials
- Generation X
- Boomers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
- Key Market Players
- HomeExchange.com Inc.
- Homestay Technologies Limited
- Bedycasa
- InnoPeople Company Ltd.
- Booking Holdings, Inc.
- HomeToGo GmbH
- Accor SA
- Airbnb, Inc.
- Expedia Group, Inc.
- Findroommate.dk ApS
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SHARING ACCOMMODATION MARKET, BY TYPE
CHAPTER 5: SHARING ACCOMMODATION MARKET, BY APPLICATION
CHAPTER 6: SHARING ACCOMMODATION MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the sharing accommodation market was valued at $120.8 billion in 2022, and is estimated to reach $235.7 billion by 2032, growing at a CAGR of 6.4% from 2023 to 2032.Sharing accommodation is the practice of individuals renting out their own residences, spare rooms, or living spaces to travelers in need of temporary housing. This notion has grown in popularity because of online services such as Airbnb, Vrbo, and HomeAway. Sharing housing provides a wide range of alternatives, from complete flats and homes to one-of-a-kind experiences like treehouses and houseboats. It encourages a feeling of community and personalization in the travel experience by allowing travelers to stay in local neighborhoods and communicate with hosts for insider insights and recommendations. It has altered the traditional hotel sector by providing less expensive yet frequently more immersive options for travelers, while also letting property owners monetize their spaces. Sharing accommodations corresponds to modern travelers' growing expectations, emphasizing adaptability, reliability, and a sense of connection in the locations they visit.
The increase in the millennial population is a major driver in the growth of the sharing accommodation market and has led to several changes in the way people live around the world. There has been a significant rise in co-living spaces that have made sharing accommodation more attractive to millennials. In addition, co-living spaces offer a variety of amenities and services such as fully furnished spaces, utilities and maintenance, internet connectivity, and housekeeping, among others, that make shared living convenient and enjoyable for the consumers. Millennials are drawn to urban centers for job opportunities, however, these areas often come with high rental costs. Sharing accommodations enables them to affordably access city living without compromising on location. Millennials often face financial challenges such as student loans, higher living costs, and unstable job markets, thus they search for economic alternatives to reduce housing expenses. Sharing accommodation offers a cost-effective solution, which enables them to split expenses while still staying in a desirable living space. Millennials value experiences and connections with their peers, and shared accommodation environments provide opportunities to interact with diverse individuals, which fosters a sense of community and helps expand their social circles.
The sharing accommodation sector is facing a pervasive issue of fraud attacks, which have grown in sophistication as fraudulent methods continue to evolve. Despite the convenience and flexibility of digital channels for booking accommodations online, there has been a substantial rise in online booking scams. The growing popularity of sharing accommodations and the shift toward digital booking platforms have provided fraudsters with new opportunities. These frauds have become more sophisticated, exploiting vulnerabilities in the online booking process. Scammers make use of various tactics, such as making fake listings, using stolen payment information, or posing as legitimate hosts. In addition, the lack of in-person interactions and the anonymity of online transactions make it difficult for consumers to verify the authenticity of listings, which thus contributes to the rise in fraudulent incidents. As a result, sharing accommodation platforms and consumers both face the challenge of implementing robust security measures to combat these increasingly intricate fraud attempts. This poses a significant challenge for both e-commerce merchants and the sharing accommodation industry.
The surge in the number of people traveling in a group has significantly driven the growth of the sharing accommodation market. Group travelers typically require multiple rooms or larger accommodations to accommodate their entire group. This leads to higher occupancy rates for sharing accommodation, making it more financially viable for hosts. Group tours often involve longer stays, which can provide hosts with a consistent source of income over an extended period, reducing the need for frequent turnover. When group travelers share a single accommodation, the cost per person can be reduced, making sharing accommodation an attractive option compared to booking multiple hotel rooms. Hosts can tailor their amenities and services to cater to group needs, such as offering communal kitchens, larger dining spaces, and facilities for group activities.
The sharing accommodation market is segmented into type, application, and region. On the basis of type, the market is classified into business to consumer (B2C), business to business (B2B), and peer to peer (P2P). Depending on application, it is segregated into Generation Z, millennials, Generation X, and boomer. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and Rest of LAMEA).
Players operating in the global sharing accommodation market have adopted various developmental strategies to expand their sharing accommodation market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Airbnb, Inc., HomeExchange.com Inc., Homestay Technologies Limited, Bedycasa, Findroommate.dk ApS, InnoPeople Company Ltd., Expedia Group, Inc., Booking Holdings, Inc., HomeToGo GmbH, and Accor SA.
Key findings of the study
On the basis of type, business to consumer (B2C) segment dominated the sharing accommodation industry in 2022 and is expected to retain its dominance throughout the forecast period.By application, the Generation Z segment led the market in 2022 and is anticipated to continue this trend in the coming years.
Region wise, Europe was the major shareholder in 2022 and is expected to retain its dominance throughout the forecast period.
Companies Mentioned
- HomeExchange.com Inc.
- Homestay Technologies Limited
- Bedycasa
- InnoPeople Company Ltd.
- Booking Holdings, Inc.
- HomeToGo GmbH
- Accor SA
- Airbnb, Inc.
- Expedia Group, Inc.
- Findroommate.dk ApS
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 212 |
| Published | October 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 120.8 billion |
| Forecasted Market Value ( USD | $ 235.7 billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
