Global Temporary Shelters Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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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%. The increase in government funds for temporary housing contributed to the growth of the market.
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.
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The Global Temporary Shelters Market is further segmented based on type and geography.
By Type: Homeless Shelter, Emergency Shelter.
By Geography: The global temporary shelters market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the Western European temporary shelters market was the largest in the global temporary shelters market in 2019.
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Trends In The Temporary Shelters Market
Government funds are one of the many sources of income for temporary shelters. An increase in funds from the government will therefore boost the temporary shelters market.
Temporary Shelters Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides temporary shelters market overviews, analyzes and forecasts market size and growth for the global temporary shelters market, temporary shelters market share, temporary shelters market players, temporary shelters market segments and geographies, temporary shelters market’s leading competitors’ revenues, profiles and market shares. The temporary shelters market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.