United States Home Exchange Service Market Size By Product/Services (Simultaneous Exchange, Non-Simultaneous Exchange, Hospitality Exchange), By Application (Under Age 44, Aged 45-64, and Aged 65+), By Type (Solution Dry Spinning, Solution Wet Spinning) And Forecast

United States Home Exchange Service Market Size And Forecast

United States Home Exchange Service Market size was valued at USD 1590.39 Million in 2020 and is projected to reach USD 1813.10 Million by 2028, growing at a CAGR of 1.89% from 2021 to 2028.

The market for home exchange services in the United States is going to increase in the near future due to increased savings realized through house swapping. The major driver for this market is the convenience and cost savings during an extended period of stay when traveling or shifting to a new location for any reason. The United States report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

United States Home Exchange Service Market Definition

Home exchange, also known as house swapping, is a form of lodging in which two parties agree to offer each other homestays for a set period of time. Since no monetary exchange takes place, it is a form of barter, collaborative consumption, and sharing. Home exchange can cover any type of residence including apartments, houses, holiday cottages, boats, or recreational vehicles. It can include an exchange of the entire home or just a room. The length of the swap can vary from a weekend to over a year. The swap can be simultaneous or non-simultaneous. Home exchanges are usually arranged via specific types of social networking services, most of which charge a fee.

In general, home exchange involves properties exchange in different locations. For example, two people/parties exchanging a beach house with a city apartment. This concept appears as an appealing option for remote workers, retirees, and people who are just restless for a change of scene. There are plenty of house exchange websites such as Love Home Swap, HomeLink, International Vacation Home Exchange (IVHE) etc. that has offered easy swapping with strangers having a potential house swap partner.

United States Home Exchange Service Market Overview

The market for home exchange service in United States is going to increase in the near future due to increased savings realized through house swapping. The major driver for this market is the convenience and cost savings during an extended period of stay when traveling or shifting to a new location for any reason (e.g. scout for job opportunities in another area, attending the sporting event, budget accommodation for short term job, finding home for a weekend gateway, etc.). In addition, the rise in the number of home exchange service providers has boosted the listing of a home for hassle-free and secured service. The rise in the number of service providers is going to drive the market. The rise in competition between these providers has resulted in a better quality of service and security when it comes to the safety of the property when someone unknown is living in the house.

The major problem associated with home exchange is the long durations associated with scheduling and fixing the vacation home in comparison to finding a hotel or hostel. The growth of the hotel industry and competition among them has reduced the pricing. Although the pricing is more compared to the house exchange the less burden carried and convenience are the major determining factors for the attractiveness of hotels and hostels over house exchange. Moreover, home exchange service is advantageous when traveling with family or having an extra home that can be registered for exchange. It has been observed that, though it is a viable option for a vacation people is not aware of this service. The lack of awareness is observed more among the population in developing countries rather than in developed countries

United States Home Exchange Service MarketSegmentation Analysis

The United States Home Exchange Service Market is segmented on the basis of Product/Services, Application, and Type.

United States Home Exchange Service Market by Product/Services

• Simultaneous Exchange• Non-Simultaneous Exchange• Hospitality Exchange• Others

Based on Product/Services, the market is bifurcated into Simultaneous Exchange, Non-Simultaneous Exchange, Hospitality Exchange, and Others. Non-Simultaneous Exchange accounted for the largest market share in 2019, and is projected to grow at a CAGR of 2.00% during the forecast period. Hospitality Exchange was the second-largest market in 2019; it is projected to grow at the highest CAGR of 2.19%. In non-simultaneous exchange, two families stay at one another’s home at different times. It is kind of like a time-share arrangement in which the one difference being that those who swap the use of their houses handle the negotiation for the arrangement. This mode increases the flexibility over dates which in turn can increase the options.

United States Home Exchange Service Market by Application

• Under Age 44• Aged 45-64• Aged 65+

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On the basis of Application, the United States Home Exchange Service Market has been segmented into Under Age 44, Aged 45-64, and Aged 65+. 45 – 64 accounted for the largest market share of 42.04% in 2019, with a market value of USD 743.0 Million and is projected to grow at a CAGR of 1.99% during the forecast period. The growth of the internet and email, along with Skype and other social media, has contributed to the rapid expansion and popularity of the home swapping. In the present day, there are dozens of organizations competing for home exchangers.

United States Home Exchange Service Market by Type

• Solution Dry Spinning• Solution Wet Spinning• Others

Based on Type, the market is segmented into Solution Dry Spinning, Solution Wet Spinning and Others. Solution Dry Spinning accounted for the largest market share in 2019 and is projected to grow at a CAGR of 8.87% during the forecast period. The ‘Solution dry spinning’ method is the most commonly used method for producing spandex. Almost 90% of spandex fibres produced globally are manufactured using this method.

Key Players

The “United States Home Exchange Service Market ” study report will provide a valuable insight with an emphasis on the market including some of the major players such as HomeExchange, Love Home Swap, Airbnb, Inc.,and Others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.• Provision of market value (USD Billion) data for each segment and sub-segment.• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market.• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled.• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions.• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis.• Provides insight into the market through Value Chain.• Market dynamics scenario, along with growth opportunities of the market in the years to come.• 6-month post-sales analyst support.

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