Product Code: ETC13372351 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Serviced Apartment Market was valued at USD 54.3 Billion in 2024 and is expected to reach USD 80.9 Billion by 2031, growing at a compound annual growth rate of 5.90% during the forecast period (2025-2031).
The Global Serviced Apartment Market is a rapidly growing segment within the hospitality industry, offering fully-furnished apartments with hotel-like amenities for short or long-term stays. The market is driven by factors such as increasing business travel, rising demand for flexible accommodation options, and changing consumer preferences for more spacious and homely lodging. Key players in the market are focusing on expanding their portfolios, enhancing guest experiences, and adopting technology to streamline operations. Major regions contributing to market growth include North America, Europe, and Asia Pacific, with emerging markets such as China and India showing significant potential. The market is expected to continue its growth trajectory, with a trend towards personalized services and sustainability practices shaping the industry landscape.
The Global Serviced Apartment Market is experiencing significant growth due to the rising demand for temporary accommodation options among business and leisure travelers. Key trends include the increasing popularity of extended stays, the focus on providing a home-like experience with amenities such as fully equipped kitchens and communal spaces, and the expansion of serviced apartment offerings in emerging markets. Opportunities in the market lie in catering to the evolving needs of remote workers, digital nomads, and families seeking flexible and comfortable living arrangements. The integration of technology for seamless booking and personalized experiences, along with sustainability initiatives, also present avenues for differentiation and growth in the competitive serviced apartment sector.
The Global Serviced Apartment Market faces challenges such as increasing competition from alternative accommodation options like Airbnb, regulatory issues in different countries, fluctuating demand due to economic uncertainties, and the impact of global events such as the COVID-19 pandemic on travel patterns. Additionally, ensuring consistent quality standards across different locations, addressing security concerns, and adapting to evolving guest preferences also present challenges for serviced apartment providers. To remain competitive and sustainable in this market, operators need to focus on offering unique value propositions, enhancing guest experiences through technology, maintaining strong relationships with corporate clients, and staying agile to respond to changing market dynamics effectively.
The Global Serviced Apartment Market is primarily driven by the increasing demand for temporary accommodation solutions among business travelers, expatriates, and tourists seeking a home-like environment with the convenience of hotel services. The flexibility and cost-effectiveness of serviced apartments compared to traditional hotels, especially for long-term stays, are also key drivers of market growth. Additionally, the rising trend of bleisure travel, where individuals combine business trips with leisure activities, is fueling the demand for serviced apartments that offer both comfort and amenities for extended stays. The growing popularity of online booking platforms and the expansion of corporate housing programs further contribute to the market`s growth by offering a wide range of options and personalized services to cater to diverse consumer preferences.
Government policies related to the Global Serviced Apartment Market vary across different countries and regions. In general, governments may impose regulations on property rental, hospitality, and tourism industries that impact serviced apartment providers. These regulations can include licensing requirements, tax policies, zoning restrictions, and safety standards. Additionally, governments may incentivize or support the growth of the serviced apartment sector through initiatives such as tax breaks, subsidies, or funding for development projects. It is crucial for serviced apartment operators to stay informed about local regulations and government policies to ensure compliance and leverage any available opportunities for business growth.
The Global Serviced Apartment Market is expected to experience strong growth in the coming years, fueled by increasing demand from both business and leisure travelers seeking the comfort and convenience of a home-like environment. Factors such as the rise of remote work, growing international travel, and the preference for longer stays are driving the popularity of serviced apartments. Additionally, the expansion of serviced apartment offerings by hotel chains and property management companies is further boosting market growth. The market is projected to witness continuous expansion, particularly in urban centers and key business hubs worldwide. Serviced apartments are increasingly becoming a preferred accommodation choice for their flexibility, cost-effectiveness, and amenities, positioning the market for sustained growth and innovation in the future.
In the Global Serviced Apartment Market, the Asia Pacific region is experiencing significant growth due to the rapid urbanization and increasing business travel in countries like China, Japan, and India. North America remains a key market with a strong demand for serviced apartments in major business hubs such as New York City and San Francisco. Europe is a mature market with steady growth, particularly in cities like London and Paris, driven by increasing tourism and corporate relocations. The Middle East and Africa region is seeing a rise in demand for serviced apartments, especially in countries like the UAE and South Africa, as they become popular business and leisure destinations. Latin America is also showing potential for growth, with cities like Sao Paulo and Mexico City attracting business travelers and expatriates.
Global Serviced Apartment Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Serviced Apartment Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Serviced Apartment Market Revenues & Volume, 2021 & 2031F |
3.3 Global Serviced Apartment Market - Industry Life Cycle |
3.4 Global Serviced Apartment Market - Porter's Five Forces |
3.5 Global Serviced Apartment Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Serviced Apartment Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Serviced Apartment Market Revenues & Volume Share, By Service Model, 2021 & 2031F |
3.8 Global Serviced Apartment Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.9 Global Serviced Apartment Market Revenues & Volume Share, By End Use, 2021 & 2031F |
4 Global Serviced Apartment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Serviced Apartment Market Trends |
6 Global Serviced Apartment Market, 2021 - 2031 |
6.1 Global Serviced Apartment Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Serviced Apartment Market, Revenues & Volume, By Short-Term Stay, 2021 - 2031 |
6.1.3 Global Serviced Apartment Market, Revenues & Volume, By Long-Term Stay, 2021 - 2031 |
6.1.4 Global Serviced Apartment Market, Revenues & Volume, By Luxury Serviced Apartments, 2021 - 2031 |
6.1.5 Global Serviced Apartment Market, Revenues & Volume, By Budget Serviced Apartments, 2021 - 2031 |
6.1.6 Global Serviced Apartment Market, Revenues & Volume, By Others, 2021 - 2031 |
6.2 Global Serviced Apartment Market, Revenues & Volume, By Service Model, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Serviced Apartment Market, Revenues & Volume, By Fully Furnished, 2021 - 2031 |
6.2.3 Global Serviced Apartment Market, Revenues & Volume, By Semi-Furnished, 2021 - 2031 |
6.2.4 Global Serviced Apartment Market, Revenues & Volume, By Premium Services, 2021 - 2031 |
6.2.5 Global Serviced Apartment Market, Revenues & Volume, By Basic Amenities, 2021 - 2031 |
6.3 Global Serviced Apartment Market, Revenues & Volume, By Application, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Serviced Apartment Market, Revenues & Volume, By Business Travelers, 2021 - 2031 |
6.3.3 Global Serviced Apartment Market, Revenues & Volume, By Leisure Travelers, 2021 - 2031 |
6.3.4 Global Serviced Apartment Market, Revenues & Volume, By Expat Housing, 2021 - 2031 |
6.3.5 Global Serviced Apartment Market, Revenues & Volume, By Student Housing, 2021 - 2031 |
6.3.6 Global Serviced Apartment Market, Revenues & Volume, By Vacation Rentals, 2021 - 2031 |
6.4 Global Serviced Apartment Market, Revenues & Volume, By End Use, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Serviced Apartment Market, Revenues & Volume, By Corporate Housing, 2021 - 2031 |
6.4.3 Global Serviced Apartment Market, Revenues & Volume, By Hospitality, 2021 - 2031 |
6.4.4 Global Serviced Apartment Market, Revenues & Volume, By Residential, 2021 - 2031 |
6.4.5 Global Serviced Apartment Market, Revenues & Volume, By Universities, 2021 - 2031 |
6.4.6 Global Serviced Apartment Market, Revenues & Volume, By Tourism, 2021 - 2031 |
7 North America Serviced Apartment Market, Overview & Analysis |
7.1 North America Serviced Apartment Market Revenues & Volume, 2021 - 2031 |
7.2 North America Serviced Apartment Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Serviced Apartment Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Serviced Apartment Market, Revenues & Volume, By Service Model, 2021 - 2031 |
7.5 North America Serviced Apartment Market, Revenues & Volume, By Application, 2021 - 2031 |
7.6 North America Serviced Apartment Market, Revenues & Volume, By End Use, 2021 - 2031 |
8 Latin America (LATAM) Serviced Apartment Market, Overview & Analysis |
8.1 Latin America (LATAM) Serviced Apartment Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Serviced Apartment Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Serviced Apartment Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Serviced Apartment Market, Revenues & Volume, By Service Model, 2021 - 2031 |
8.5 Latin America (LATAM) Serviced Apartment Market, Revenues & Volume, By Application, 2021 - 2031 |
8.6 Latin America (LATAM) Serviced Apartment Market, Revenues & Volume, By End Use, 2021 - 2031 |
9 Asia Serviced Apartment Market, Overview & Analysis |
9.1 Asia Serviced Apartment Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Serviced Apartment Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Serviced Apartment Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Serviced Apartment Market, Revenues & Volume, By Service Model, 2021 - 2031 |
9.5 Asia Serviced Apartment Market, Revenues & Volume, By Application, 2021 - 2031 |
9.6 Asia Serviced Apartment Market, Revenues & Volume, By End Use, 2021 - 2031 |
10 Africa Serviced Apartment Market, Overview & Analysis |
10.1 Africa Serviced Apartment Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Serviced Apartment Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Serviced Apartment Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Serviced Apartment Market, Revenues & Volume, By Service Model, 2021 - 2031 |
10.5 Africa Serviced Apartment Market, Revenues & Volume, By Application, 2021 - 2031 |
10.6 Africa Serviced Apartment Market, Revenues & Volume, By End Use, 2021 - 2031 |
11 Europe Serviced Apartment Market, Overview & Analysis |
11.1 Europe Serviced Apartment Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Serviced Apartment Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Serviced Apartment Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Serviced Apartment Market, Revenues & Volume, By Service Model, 2021 - 2031 |
11.5 Europe Serviced Apartment Market, Revenues & Volume, By Application, 2021 - 2031 |
11.6 Europe Serviced Apartment Market, Revenues & Volume, By End Use, 2021 - 2031 |
12 Middle East Serviced Apartment Market, Overview & Analysis |
12.1 Middle East Serviced Apartment Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Serviced Apartment Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Serviced Apartment Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Serviced Apartment Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Serviced Apartment Market, Revenues & Volume, By Service Model, 2021 - 2031 |
12.5 Middle East Serviced Apartment Market, Revenues & Volume, By Application, 2021 - 2031 |
12.6 Middle East Serviced Apartment Market, Revenues & Volume, By End Use, 2021 - 2031 |
13 Global Serviced Apartment Market Key Performance Indicators |
14 Global Serviced Apartment Market - Export/Import By Countries Assessment |
15 Global Serviced Apartment Market - Opportunity Assessment |
15.1 Global Serviced Apartment Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Serviced Apartment Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Serviced Apartment Market Opportunity Assessment, By Service Model, 2021 & 2031F |
15.4 Global Serviced Apartment Market Opportunity Assessment, By Application, 2021 & 2031F |
15.5 Global Serviced Apartment Market Opportunity Assessment, By End Use, 2021 & 2031F |
16 Global Serviced Apartment Market - Competitive Landscape |
16.1 Global Serviced Apartment Market Revenue Share, By Companies, 2024 |
16.2 Global Serviced Apartment Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |