Global Serviced Apartment Market - Industry Dynamics, Size, And Opportunity Forecast To 2032
Exclusive deal : 20% Instant discount on Direct purchases! Don't wait—claim your discount today!
The Serviced Apartment market, estimated at $248.93 billion in 2032, is set for substantial growth, driven by an anticipated compound annual growth rate (CAGR) of 12.8% from 2025 to 2032.
The latest comprehensive report on the Serviced Apartment market covers various industry organizations from different geographies to develop a 150+ page report. The study is a perfect mix of qualitative and quantitative information, highlighting key market developments, challenges that the industry and competition are facing, along with gap analysis, and new opportunities available. It may trend in Serviced Apartment market. The report bridges the historical data from 2019 to 2024 and forecasts till 2032, the product outline, the organization’s required raw materials, and other growth factors. This report provides an in-depth analysis of the market segmentation that includes products, applications, and geographical analysis. Serviced Apartment market report delivers a close watch on leading competitors with strategic analysis, micro and macro market trends and scenarios, pricing analysis, and a complete overview of the industry situation during the forecast period.
Serviced Apartment Market Overview
The serviced apartment industry is defined as offering fully furnished apartments, with a mix of hotel-like services and home-like comfort, for short-term or long-term rentals. Units generally have features of housekeeping, laundry, Wi-Fi, and round-the-clock reception as part of the daily experience, which allows for an easy and vacation-friendly lodging supplement for business and leisure travelers.
The market is fueled by a number of drivers such as corporate travel expansion, the rise of the sharing economy, and growing demand for flexible and lean accommodation options. Major players in the market are hotel brands, niche serviced apartment operators, and online booking services.
2025 Emerging Trends in Serviced Apartment Industry
The serviced apartment market is experiencing several key trends. On the one hand, there is an increasing emphasis on technology integration, including smart home appliances, contactless registration, and virtual tours. Second, sustainability is becoming increasingly significant, and operators are encouraging environmentally responsible behavior as well as sustainable provision of facilities.
Last, the market is beginning to embrace personalized experiences where operators are modifying services and facilities to the individual needs of guests. These include flexible stay options, personalized packages, personalized concierge facilities, etc.
Driving Forces: What's Propelling the Serviced Apartment Industry
With an increasing number of companies reaching a global market, people need long-term stays with the home-like feeling of a personal house, including kitchen facilities, living areas, and convenient access to basic services. This trend has also been boosted by the popularity of telecommuting and by the increasing demand for corporate housing, which offer more privacy and better comfort than conventional hotel rooms.
Furthermore, the expansion of the tourism and leisure industry is a major force behind the serviced apartment market. As travelers look for larger and more homely options than hotels, in particular, longer stays, serviced apartments combine comfort as well as being price competitive with the extended stay benefit of being able to be in one location. The growth of digital nomadism, the "workcation" trend, in which travel and remote work are blended, is among the factors driving the appetite for serviced apartments.
Growth Opportunities in the Serviced Apartment Market for 2025
The serviced apartment segment offers a variety of growth and innovative opportunities. With the growing need for flexible and affordable lodging options, such as for business travelers and digital nomads, there is a clear market for serviced apartments. Additionally, the combination of technology (online reservation websites and smart home applications) can improve the guest experience and improve or automate operations, opening up new paths for growth and differentiation.
Moreover, the popularity of the work-from-anywhere lifestyle and global movement trend has broadened the market area, opening up opportunities in the field of leisure tourism and the short-term rental industry. Growing disposable incomes and a changing desire for more luxurious and bespoke travel experiences also drive a need for premium serviced apartments, particularly in aspirational areas. As urbanization, international tourism, and an increase in alternative lodging markets expand, the market is projected to continue to flourish and attract investors and hospitality service providers looking to capitalize on these factors.
Key Challenges Facing the Serviced Apartment Market in 2025
The major problem in the serviced apartment sector is fiercer competition with other forms of accommodation, such as short-term rental sites (e.g., Airbnb). These platforms also share comparable flexibility and are usually cheaper, and this can erode the attraction of serviced apartments, especially in competitive urban markets.
Other major challenges are non-stationary demand, especially in the context of the global economic order and events such as the coronavirus disease 2019 (COVID-19), which has the potential of sharply diminishing business and leisure trips in an instant. Serviced apartments largely depend on consistently high occupancies, and a decline in touristic or corporate travel generates reduced revenues. Additionally, maintaining high operational standards and operational consistency across various sites involves a significant investment of property management and quality control, increasing the financial burden that service providers face in a competitive market.
Serviced Apartment Market Segmentation
By Types, Serviced Apartment Market is segmented as:
By Applications, the Serviced Apartment Market is segmented as:
Serviced Apartment, by Region
➤ North America (United States, Canada, and Mexico)
➤ Europe (UK, Germany, France, Russia, and Italy)
➤ Asia-Pacific (China, Korea, Japan, India, and Southeast Asia)
➤ South America (Brazil, Colombia, Argentina, etc.)
➤ The Middle East and Africa (Saudi Arabia, UAE, Nigeria, Egypt, and South Africa)
The segment is expected to secure a significant share of the industry in the coming years, driven by its increasing adoption and strategic advantages. Meanwhile, the North America region is projected to lead the market, fueled by rapid industrial growth, technological advancements, and expanding investments. This growth is further supported by favorable government policies and rising demand across key industries. Additionally, increasing collaborations and market expansions by leading players continue to strengthen the competitive landscape.
Competitive Landscape
Competitiveness in the serviced apartment market is turbulent between global hotel corporates, small and medium local operators, and property management companies. Leading global hotel companies, including Marriott, Hilton, and Accor, have also started to dominate the serviced apartment market on the back of their fame of providing luxury and excellent customer service to business and leisure travelers. Big players are usually providing a consistent, high-quality, and well-equipped experience that includes lots of services with facilities, which are all appealing to corporate clients and expatriates who are searching for a long-term stay in a reasonable place. In contrast, local providers concentrate on more specific, area-based solutions that may be priced competitively and feature personalized services to target underserved markets, for example, family holidays or low-cost vacationers.
Key Companies Profiled
These companies are undertaking various expansion strategies, such as new product development, partnerships, and acquisitions, to improve their market share and cater to the growing demand for Serviced Apartment across the globe.
The latest comprehensive report on the Serviced Apartment market covers various industry organizations from different geographies to develop a 150+ page report. The study is a perfect mix of qualitative and quantitative information, highlighting key market developments, challenges that the industry and competition are facing, along with gap analysis, and new opportunities available. It may trend in Serviced Apartment market. The report bridges the historical data from 2019 to 2024 and forecasts till 2032, the product outline, the organization’s required raw materials, and other growth factors. This report provides an in-depth analysis of the market segmentation that includes products, applications, and geographical analysis. Serviced Apartment market report delivers a close watch on leading competitors with strategic analysis, micro and macro market trends and scenarios, pricing analysis, and a complete overview of the industry situation during the forecast period.
Serviced Apartment Market Overview
The serviced apartment industry is defined as offering fully furnished apartments, with a mix of hotel-like services and home-like comfort, for short-term or long-term rentals. Units generally have features of housekeeping, laundry, Wi-Fi, and round-the-clock reception as part of the daily experience, which allows for an easy and vacation-friendly lodging supplement for business and leisure travelers.
The market is fueled by a number of drivers such as corporate travel expansion, the rise of the sharing economy, and growing demand for flexible and lean accommodation options. Major players in the market are hotel brands, niche serviced apartment operators, and online booking services.
The Serviced Apartment market is driven by several factors, including:
2025 Emerging Trends in Serviced Apartment Industry
The serviced apartment market is experiencing several key trends. On the one hand, there is an increasing emphasis on technology integration, including smart home appliances, contactless registration, and virtual tours. Second, sustainability is becoming increasingly significant, and operators are encouraging environmentally responsible behavior as well as sustainable provision of facilities.
Last, the market is beginning to embrace personalized experiences where operators are modifying services and facilities to the individual needs of guests. These include flexible stay options, personalized packages, personalized concierge facilities, etc.
Driving Forces: What's Propelling the Serviced Apartment Industry
With an increasing number of companies reaching a global market, people need long-term stays with the home-like feeling of a personal house, including kitchen facilities, living areas, and convenient access to basic services. This trend has also been boosted by the popularity of telecommuting and by the increasing demand for corporate housing, which offer more privacy and better comfort than conventional hotel rooms.
Furthermore, the expansion of the tourism and leisure industry is a major force behind the serviced apartment market. As travelers look for larger and more homely options than hotels, in particular, longer stays, serviced apartments combine comfort as well as being price competitive with the extended stay benefit of being able to be in one location. The growth of digital nomadism, the "workcation" trend, in which travel and remote work are blended, is among the factors driving the appetite for serviced apartments.
Growth Opportunities in the Serviced Apartment Market for 2025
The serviced apartment segment offers a variety of growth and innovative opportunities. With the growing need for flexible and affordable lodging options, such as for business travelers and digital nomads, there is a clear market for serviced apartments. Additionally, the combination of technology (online reservation websites and smart home applications) can improve the guest experience and improve or automate operations, opening up new paths for growth and differentiation.
Moreover, the popularity of the work-from-anywhere lifestyle and global movement trend has broadened the market area, opening up opportunities in the field of leisure tourism and the short-term rental industry. Growing disposable incomes and a changing desire for more luxurious and bespoke travel experiences also drive a need for premium serviced apartments, particularly in aspirational areas. As urbanization, international tourism, and an increase in alternative lodging markets expand, the market is projected to continue to flourish and attract investors and hospitality service providers looking to capitalize on these factors.
Key Challenges Facing the Serviced Apartment Market in 2025
The major problem in the serviced apartment sector is fiercer competition with other forms of accommodation, such as short-term rental sites (e.g., Airbnb). These platforms also share comparable flexibility and are usually cheaper, and this can erode the attraction of serviced apartments, especially in competitive urban markets.
Other major challenges are non-stationary demand, especially in the context of the global economic order and events such as the coronavirus disease 2019 (COVID-19), which has the potential of sharply diminishing business and leisure trips in an instant. Serviced apartments largely depend on consistently high occupancies, and a decline in touristic or corporate travel generates reduced revenues. Additionally, maintaining high operational standards and operational consistency across various sites involves a significant investment of property management and quality control, increasing the financial burden that service providers face in a competitive market.
Serviced Apartment Market Segmentation
By Types, Serviced Apartment Market is segmented as:
- On-site Managed
- Off-site Managed
By Applications, the Serviced Apartment Market is segmented as:
- Corporate/Business Traveler
- Leisure
- Expats and Relocators
Serviced Apartment, by Region
➤ North America (United States, Canada, and Mexico)
➤ Europe (UK, Germany, France, Russia, and Italy)
➤ Asia-Pacific (China, Korea, Japan, India, and Southeast Asia)
➤ South America (Brazil, Colombia, Argentina, etc.)
➤ The Middle East and Africa (Saudi Arabia, UAE, Nigeria, Egypt, and South Africa)
The segment is expected to secure a significant share of the industry in the coming years, driven by its increasing adoption and strategic advantages. Meanwhile, the North America region is projected to lead the market, fueled by rapid industrial growth, technological advancements, and expanding investments. This growth is further supported by favorable government policies and rising demand across key industries. Additionally, increasing collaborations and market expansions by leading players continue to strengthen the competitive landscape.
Competitive Landscape
Competitiveness in the serviced apartment market is turbulent between global hotel corporates, small and medium local operators, and property management companies. Leading global hotel companies, including Marriott, Hilton, and Accor, have also started to dominate the serviced apartment market on the back of their fame of providing luxury and excellent customer service to business and leisure travelers. Big players are usually providing a consistent, high-quality, and well-equipped experience that includes lots of services with facilities, which are all appealing to corporate clients and expatriates who are searching for a long-term stay in a reasonable place. In contrast, local providers concentrate on more specific, area-based solutions that may be priced competitively and feature personalized services to target underserved markets, for example, family holidays or low-cost vacationers.
Key Companies Profiled
- Frasers Hospitality
- Habicus Group
- Adagio
- THE SQUA.RE SERVICED APARTMENTS
- Viridian Apartments
- Marriott International Inc.
- The Serviced Apartment Company
- The Ascott Limited
- Staycity Ltd
- adiahotels.com
These companies are undertaking various expansion strategies, such as new product development, partnerships, and acquisitions, to improve their market share and cater to the growing demand for Serviced Apartment across the globe.
Chapter 1: Introduction of Serviced Apartment Market
Chapter 2: Executive Summary
Chapter 3: Market Dynamics Analysis and Trends
Chapter 4: Market Factor Analysis
Chapter 5: Competitive Landscape
Chapter 6: Serviced Apartment Market Company Profiles
Chapter 7: Serviced Apartment Market, By Type
Chapter 8: Serviced Apartment Market, By Application
Chapter 9: Serviced Apartment Market By Region
Chapter 10: Analyst Viewpoint and Conclusion
Chapter 11: RESEARCH METHODOLOGY
- 1.1 Research Objective
- 1.2 Scope of the Study
- 1.3 Definition
- 1.4 Assumptions & Limitations
Chapter 2: Executive Summary
- 2.1 Market Snapshot
Chapter 3: Market Dynamics Analysis and Trends
- 3.1 Market Dynamics
- 3.1.1 Market Growth Drivers
- 3.1.2 Market Restraints
- 3.1.3 Available Market Opportunities
- 3.1.4 Influencing Trends
Chapter 4: Market Factor Analysis
- 4.1 Porter’s Five Forces Analysis
- 4.2 Bargaining power of suppliers
- 4.3 Bargaining power of buyers
- 4.4 Threat of substitute
- 4.5 Threat of new entrants
- 4.6 Porter's Five Forces Analysis
- 4.7 Value Chain Analysis
- 4.8 Market Impact Analysis
- 4.9 Regional Impact
- 4.10 Pricing Analysis
- 4.11 Import-Export Analysis
Chapter 5: Competitive Landscape
- 5.1 Company Market Share/Positioning Analysis
- 5.2 Key Strategies Adopted by Players
- 5.3 Vendor Landscape
- 5.3.1 List of Suppliers
- 5.3.2 List of Buyers
Chapter 6: Serviced Apartment Market Company Profiles
- 6.1 Competitive Landscape
- 6.1.1 Competitive Benchmarking
- 6.1.2 Serviced Apartment Market Share by Manufacturer (2023)
- 6.1.3 Industry BCG Matrix
- 6.1.4 Heat Map Analysis
- 6.1.5 Mergers and Acquisitions
- 6.2 Frasers Hospitality Habicus Group Adagio THE SQUA.RE SERVICED APARTMENTS Viridian Apartments Marriott International Inc. The Serviced Apartment Company The Ascott Limited Staycity Ltd adiahotels.com
- 6.2.1 Company Overview
- 6.2.2 Product/ Services Offerings
- 6.2.3 SWOT Analysis
- 6.2.4 Financial Performance
- 6.2.5 KEY Strategies
- 6.2.6 Key Strategic Moves and Recent Initiatives
Chapter 7: Serviced Apartment Market, By Type
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 On-site Managed Off-site Managed
- 7.2.1 Key market trends, factors driving growth, and opportunities
- 7.2.2 Market Size Estimates and Forecasts to 2032, by region
- 7.2.3 Market analysis by country
Chapter 8: Serviced Apartment Market, By Application
- 8.1 Overview
- 8.1.1 Market size and forecast
- 8.2 Corporate/Business Traveler Leisure Expats and Relocators
- 8.2.1 Key market trends, factors driving growth, and opportunities
- 8.2.2 Market Size Estimates and Forecasts to 2032, by region
- 8.2.3 Market analysis by country
Chapter 9: Serviced Apartment Market By Region
- 9.1 Overview
Chapter 10: Analyst Viewpoint and Conclusion
- 10.1 Recommendations and Concluding Analysis
- 10.2 Potential Market Strategies
Chapter 11: RESEARCH METHODOLOGY
- 11.1 Overview
- 11.2 Data Mining
- 11.3 Secondary Research
- 11.4 Primary Research
- 11.4.1 Primary Interviews and Information Gathering Process
- 11.4.2 Breakdown of Primary Respondents
- 11.5 Forecasting Model
- 11.6 Market Size Estimation
- 11.6.1 Bottom-Up Approach
- 11.6.2 Top-Down Approach
- 11.7 Data Triangulation
- 11.8 Validation
Research Methodology:
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Serviced Apartment Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
| Market Size |
|
|
| Market Position of Top Company |
|
|
| Qualitative Analysis |
|
|
Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
| Primary Sources | Parameters | Key Data |
| Market Segments(by Application, by Type) |
|
|
| Total Market |
|
|
Frequently asked questions(FAQ's):
A dynamic process in the Serviced Apartment Market is initiated by new entrants, including competitors from unrelated industries, in addition to the established players like Frasers Hospitality Habicus Group Adagio THE SQUA.RE SERVICED APARTMENTS Viridian Apartments Marriott International Inc. The Serviced Apartment Company The Ascott Limited Staycity Ltd adiahotels.com.
The strategic moves of the Serviced Apartment Market players such as Frasers Hospitality Habicus Group Adagio THE SQUA.RE SERVICED APARTMENTS Viridian Apartments Marriott International Inc. The Serviced Apartment Company The Ascott Limited Staycity Ltd adiahotels.com, and others clearly highlight consumer-centric strategies that use technology to improve customer experience.
Depending upon the type of applications, the Serviced Apartment Market has been segmented into and other applications.
The Serviced Apartment Market is expected to reach a reasonable valuation by 2030; now the market is expected to shift its focus from growth to value.
According to the Serviced Apartment Market research paper, organizations are making more progress than their supply chain counterparts, including suppliers.
The majority of data for the Serviced Apartment Industry is gathered through primary sources, which include interviews and surveys with industry experts from the core and related industries involved in the supply chain. Secondary sources, such as SEC filings, annual reports, whitepapers, and press releases, are also used.