Global Non-Residential Accommodation Services Market to Reach US$4.5 Trillion by the Year 2027
Amid the COVID-19 crisis, the global market for Non-Residential Accommodation Services estimated at US$3.6 Trillion in the year 2020, is projected to reach a revised size of US$4.5 Trillion by 2027, growing at a CAGR of 3.3% over the period 2020-2027.
The U.S. Accounts for Over 28.9% of Global Market Size in 2020, While China is Forecast to Grow at a 5.3% CAGR for the Period of 2020-2027
The Non-Residential Accommodation Services market in the U.S. is estimated at US$1 Trillion in the year 2020. The country currently accounts for a 28.89% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$751.2 Billion in the year 2027 trailing a CAGR of 5.3% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach US$751.2 Billion by the year 2027.We bring years of research experience to this 9th edition of our report. The 142-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- AccorHotels Group
- Hilton Worldwide Holdings Inc.
- Hyatt Hotels & Resorts
- Marriott International, Inc.
- MGM Resorts International
- Radisson Hotel Group
- Wyndham Destinations