Community Housing Services Global Market To Reach Value Of About $81.7 Billion In 2023
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The global community housing market is expected to decline from $77.2 billion in 2019 to $75.9 billion in 2020 at a compound annual growth rate (CAGR) of -1.64%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $81.7 billion in 2023 at a CAGR of 2.43%. The federal funding for social services is a major driver for the community housing services market. Funding from the government helps many homeless people get shelter. Many programs are run by different countries to assist homeless people.
The community housing services market consists of the revenues from community housing services and related goods by establishments primarily engaged in providing short-term shelter for victims of domestic violence, sexual assault or child abuse, a temporary residential shelter for the homeless, runaway youths, patients and families caught in medical crisis, transitional housing for low-income individuals and families, and for elderly or disabled homeowners. Establishments that volunteer construction or repair of low-cost houses in partnership with the homeowners who assist in construction or repair of a home, subsidize housing using existing homes, apartments, hotels, or motels, or those involved in a low-cost mortgage or work for all the said end-users, are included in this market.
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The global community housing services market is further segmented based on service, end-user and geography.
By Service: Temporary And Emergency Shelter Services, Permanent Housing Support Services, Transitional And Assisted Housing Services, Volunteer Construction Or Repair Services, Others.
By End-Users: Victims Of Domestic Violence, Sexual Assault Or Child Abuse, Homeless, Runaway Youths, Parents And Families Caught In Medical Crises, Low-Income Individuals And Families, Elderly Or Disabled.
By Geography: The global community housing services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American community housing services market is the largest in the global community housing services market.
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Trends In The Community Housing Services Market
Re-entry services are increasingly being provided for the people exiting prison. A majority of this population face homelessness after their release and have nowhere to go. Therefore, many NGOs have come forward to help them provide shelter. Also, company mergers will help to create more housing choices and opportunities for current residents while respecting the local culture, history and tradition of both organizations.
Community Housing Services Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides community housing services market overviews, analyzes and forecasts market size and growth for the global community housing services market, community housing services market share, community housing services market players, community housing services market segments and geographies, community housing services market’s leading competitors’ revenues, profiles and market shares. The community housing services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.