The temporary shelters market consists of the revenues generated by providing temporary shelter services and related goods by entities (organizations, sole traders and partnerships) that provide short-term shelter for victims of domestic violence, sexual assault or child abuse, homeless, runaway youth, and patients and families caught in medical crisis. These establishments may operate through their own shelters or may subsidize housing using existing homes, apartments, hotels, or motels. Only goods and services traded between entities or sold to end consumers are included.
The global temporary shelters market is expected to grow from $37.48 billion in 2019 to $38.75 billion in 2020 at a compound annual growth rate (CAGR) of 3.39%. The growth is mainly due to the COVID-19 outbreak that has led to restrictive containment and governments across the world are funding the organizations to provide shelter for the homeless during the pandemic. The market is then expected to recover and reach $48.39 billion in 2023 at a CAGR of 7.69%.
