PUBLISHER: The Business Research Company | PRODUCT CODE: 1664257
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664257
Dormitories are large residential facilities that provide accommodations for groups of individuals, such as students or workers. They are commonly situated on or near college and university campuses or military bases, offering cost-effective housing solutions.
The primary categories of dormitories encompass rooming and boarding houses, as well as college housing. Rooming and boarding houses are residential structures where individuals or families can rent rooms, often sharing common areas such as bathrooms and kitchens. Services in this sector include Purpose-Built Student Accommodation (PBSA), private rented sector offerings, and university accommodation. These accommodations cater to various segments, including freshman, sophomore, junior, senior, and graduate students.
The dormitories market research report is one of a series of new reports from The Business Research Company 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.
The dormitories market size has grown rapidly in recent years. It will grow from $14.71 billion in 2024 to $16.38 billion in 2025 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to educational enrollment trends, urbanization and campus development, international student mobility, affordability and student housing demand, government, and institutional investments.
The dormitories market size is expected to see rapid growth in the next few years. It will grow to $25.13 billion in 2029 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to changing education delivery models, sustainability and green campus initiatives, student wellbeing and amenities, public-private partnerships, global educational hub development. Major trends in the forecast period include inclusive housing, flexible dining options, safety and security measures, space efficiency, remote learning support.
The growing student population is anticipated to drive the expansion of the dormitories market in the future. Dormitories are often chosen by students as a convenient and affordable accommodation option. Additionally, they offer students the chance to live in a social and diverse setting, enabling them to build relationships with peers from various backgrounds. Furthermore, dormitories are appealing to students due to their cost-effectiveness and proximity to campus. For instance, a report published by the University of Technology Sydney in July 2023 indicated that secondary education was the highest level of school completion in the United States in 2022, with 28% of the population achieving this educational milestone. In the UK, 73.2% of secondary school-age residents attained a GCSE pass rate in 2022. As of 2021, Australia had over 3.95 million students enrolled in both public and private schools. Therefore, the increasing student population is fueling the growth of the dormitories market.
The rising number of academic institutions is projected to further enhance the growth of the dormitories market in the future. Academic institutions are organizations committed to the pursuit of learning, teaching, and research. Dormitories play a crucial role in enriching the overall student experience at these institutions by offering convenience, accessibility, improved academic performance, cultural exchange, personal growth and development, as well as safety and security. For instance, according to the UK Government's public sector information website, there was a slight increase in the total number of schools in June 2024, with the count rising by 11 to reach 24,453 in the 2023-24 academic year. Therefore, the increasing number of academic institutes is driving the growth of the dormitories market.
The dormitories market is witnessing a prominent trend centered around product innovations. Companies operating within this market are integrating inventive solutions to cater to evolving student housing needs while maintaining their market presence. For instance, in June 2023, Rently Inc., a US-based company specializing in self-touring and smart home technology solutions, introduced a secure multifunctional property technology platform. This platform incorporates innovative features such as smart thermostats and locks, benefiting both student housing providers and occupants. It enhances security, expedites unit turnovers, and meets resident expectations for comfort and convenience. The technology facilitates efficient unit turnover management, enabling mobile app-based access control, eliminating rekeying costs, setting durational entrance codes, managing access rights, and customizing property access schedules through Rently's Smart Home dashboard. Such advancements exemplify the focus on innovation within the dormitories market.
Leading companies in the dormitories market are emphasizing partnerships as a strategic avenue to bolster their market revenues. Partnerships typically involve collaborative agreements or alliances between entities aimed at enhancing connectivity and operations. For instance, in November 2023, SpaceBasic Inc., an India-based company specializing in digitizing student experiences within university and housing communities, collaborated with Good Host Spaces Pvt. Ltd. This partnership's primary objective is to reduce the environmental impact of student housing by implementing sustainability and resource management initiatives, leveraging SpaceBasic's Digital Cafeteria (Mess Management) system. The alliance aims to optimize student housing management by employing automation and data-driven insights to streamline property management, maintenance procedures, administrative tasks, and reinforce security protocols. Good Host Spaces Pvt. Ltd. operates as an India-based student accommodation service provider.
In October 2022, Global Student Accommodation (GSA), a UK-based student housing service provider, completed the acquisition of a five-property student housing portfolio from Harrison Street Real Estate Capital, LLC, with the financial details undisclosed. This strategic acquisition has notably expanded GSA's capacity by over 1,600 beds, consolidating its market leadership position in Charleston. The acquisition encompasses five student housing assets, including the Ruckus on Rio located in Austin, Texas. Harrison Street Real Estate Capital, LLC functions as a UK-based investment management company, specializing in student housing and dormitory services. The acquisition further strengthens GSA's foothold in the student housing sector, reflecting its strategic growth initiative.
Major companies operating in the dormitories market include Campus Living Villages, American Campus Communities, UNITE Group, Greystar Real Estate Partners, The Scion Group, Student Castle, Axiom Education, ResLife, Nido Student, The Student Housing Company, Collegiate AC, Rize, Xenia Residential, Hines, Thrive Living, Prime Student Living, EdR Trust, Campus Apartments, Landmark Properties, SMC Student Housing, Yugo, The Boulevard, Core Spaces, C3S, Urban Student Life, Housing Trust Group, RISE Residential, Oakwood Worldwide, Bonaventure
North America was the largest region in the dormitories market in 2024. The regions covered in the dormitories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the dormitories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
Dormitories Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dormitories market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dormitories ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The dormitories market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.