Abstract
A marketplace encompasses more than commerce. Due to its tangible and intangible characteristics, it becomes a vibrant and engaging public space for the local community and tourists. Marketplaces face challenges in both restructuring and preserving their rich attributes. A systematic literature analysis of recent architectural research has identified the challenges of markets as dynamic urban elements. Four main themes of the research have been identified – Built Environment, Economic, Social, and Cultural, as well as four intermediary themes – Local Trade, Branding, Local Identity and Sense of Place. The multidimensionality of the market has been explained. The systematic literature analysis has revealed the significant potential of the market both as a built environment element and as an economic, social, and cultural phenomenon in urban transformation processes.