Asia Pacific Serviced Apartment Market Size & Outlook
The serviced apartment market in Asia Pacific is expected to reach a projected revenue of US$ 57,949.4 million by 2030. A compound annual growth rate of 13.7% is expected of Asia Pacific serviced apartment market from 2024 to 2030.
Revenue, 2023 (US$M)
$23,627.4
Forecast, 2030 (US$M)
$57,949.4
CAGR, 2024 - 2030
13.7%
Report Coverage
Asia Pacific
Asia Pacific serviced apartment market, 2018-2030 (US$M)
Asia Pacific serviced apartment market highlights
- The Asia Pacific serviced apartment market generated a revenue of USD 23,627.4 million in 2023.
- The market is expected to grow at a CAGR of 13.7% from 2024 to 2030.
- In terms of segment, long-term (>30 nights) was the largest revenue generating type in 2023.
- Long-Term (>30 Nights) is the most lucrative type segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 23,627.4 million |
| Market revenue in 2030 | USD 57,949.4 million |
| Growth rate | 13.7% (CAGR from 2023 to 2030) |
| Largest segment | Long-term (>30 nights) |
| Fastest growing segment | Long-Term (>30 Nights) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Long-Term (>30 Nights) |
| Key market players worldwide | CapitaLand India Trust Units Real Estate Investment Trust, Frasers Group PLC, Marriott International Inc Class A |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 21.0% of the global serviced apartment market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 57,949.4 million by 2030.
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Serviced Apartment Market Scope
Serviced apartment market segmentation & scope
End Use
Corporate/Business Traveler
Leisure Travelers
Expats and Relocators
Booking Mode
Direct Booking
Online Travel Agencies
Corporate Contracts
Countries
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
Denmark
Sweden
Norway
China
Japan
India
South Korea
Australia
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait
Serviced Apartment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific serviced apartment market
Related regional statistics
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