DUBLIN--(BUSINESS WIRE)--The "Sleeping Pods and Cabins Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global sleeping pods and cabins market is expected to reach over $255 million by 2024.
Key Market Insights
- The report provides the following insights into the sleeping pods and cabins market for the forecast period 2019-2024.
- Offers market sizing and growth prospects of the sleeping pods market for the forecast period 2019-2024.
- Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the sleeping pods market.
- Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
- Delivers a complete overview of market segments and the regional outlook of the sleeping pods market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the sleeping pods and cabins market.
The rise in transfer passengers and layover times is also likely to drive the need for napping facilities at airports. Sleeping pods and cabins are expected to have higher traction during the latter half of the forecast period as airports are currently experimenting with the idea of offering sleeping facilities.
Steady growth rates have characterized the aviation market over the last few years. Further, the APAC region is undergoing massive changes, with smart features and processes being set up at airports. Hence, the increase in global passenger traffic is likely to drive the global sleeping pods and cabins market.
The following factors are likely to contribute to the growth of the sleeping pods market during the forecast period:
- Growing Passenger Friendly Infrastructure at Airports
- Pods Purchase Market Growth Posing Threat to Service Market
The advent of Non-traditional Lodging Facilities
Sleeping Pods and Cabins Market: Segmentation
The research report includes detailed market segmentation by end-user, service type, and geography.
The demand for sleeping pods is mainly high from the hotel segment. The deployment of sleeping cabins and pods is increasing in the hotel industry, especially capsule hotels. In terms of geography, the demand for the pod is high in Asia, while cabins are highly preferred in Europe and North America. The global hotel industry is growing actively with several emerging countries witnessing growth in inbound tourism. Although the US is the largest market for hotels, the growth is hampered by the high cost of rooms and the overall high cost of living.
Sleeping pods and cabins services at airports are growing rapidly as many airports are adopting the new age relaxation and boarding facilities. The growth in other sectors, which include hospitals, railways, and utility centers, arenas, and conference centers, is expected to drive the demand for sleeping pods and cabins during the forecast period. Corporate offices usually procure single-use pod with no additional value-added features as they are mainly used to take naps.
European and North American airports are witnessing a high occupancy of sleeping pods. Also, the acceptance of pods as capsule hotels and napping facilities at airports is widely growing in APAC. The demand mainly stems from airports, corporations, and hotels. However, the functionality of pods in hotels completely varies from airports and corporates. The adoption of pod in hotels is high as they save time and efforts. The sleeping pods market is growing at a faster rate than the cabins segment as the deployment of pods is higher than cabins, which require ample space.
Sleeping cabins have been popular in North America and Western Europe as they are considerably large. Cabins are like micro hotels with little fewer amenities than regular micro hotels. The cabin market is expected to witness high demand in North America, Latin America, and Europe as these regions are seeing an increase in the number of international travelers.
Sleeping Pods and Cabins Market: Geography
The sleeping pods and cabins market is dominated by APAC, Europe, and North America. The APAC sleeping pods market is largely volume-driven due to the growing number of economic travelers looking for low-cost lodging services, along with tremendous growth of the aviation industry in China.
North America is likely to emerge as one of the fastest-growing sleeping cabins and sleeping pods market. As airports in North America are one of the best-managed airports with a high level of focus on providing quality amenities, the growth potential for sleeping cabins and pods is high. The Europe market for nap pods and cabins is steadily growing as it is one of the regions with the most developed airport infrastructure and a maximum number of international airports and tourist destinations.
Key Vendors Analysis
The global sleeping pods and cabins market is at a nascent stage with several markets in the experimentation stage worldwide. The growth of the market is expected majorly from airports and pod-based or cabin-based hotels. The competition is currently stiff in the airport segment as many companies are looking to gain the first-mover advantage. With a high level of expansion being planned across regions, the sleeping pods market is expected to attract several investors.
The competition in the pod hotels market is offset by the unique position of the hotel in the industry. Most pod hotels are offering high-quality services at a low price. Unlike the traditional hotel where the prices are high, and the hostels where security, privacy, and service levels are challenges, pod hotels have maintained an image of high-quality, affordable service.
Key Topics Covered
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by End-users
4.4.2 Market Segmentation by Service Type
4.4.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.1.1 Key Insights
7.2 MacroEconomic Factors
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Growth in Air Travellers
8.1.2 Advent of Non-traditional Lodging Facilities
8.1.3 Increase in Smart & Modern Airports
8.2 Market Growth Restraints
8.2.1 Retail Real Estate Cost at Airports
8.2.2 Space & Cost Constraints
8.2.3 Higher Dependence on Airport & Hotels
8.3 Market Opportunities & Trends
8.3.1 Growth in Passenger-friendly Infrastructure at Airports
8.3.2 Rising Pods Purchase Posing Threat to Service Providers
8.3.3 Air Travel Market Growth Aiding Passenger Amenities
9 Market Landscape
9.1 Market Overview
9.1.1 Key Insights
9.2 Market Size & Forecast
9.3 Five Forces Analysis
10 By End-Users
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.5 Other End-users
11 By Service Type
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
12 By Geography
12.1 Market Snapshot & Growth Engine
12.2.1 Key Insights
14 North America
16 Rest of The World
17 Competitive Landscape
17.1 Competition Overview
18 Key Company Profiles
18.1.1 Business Overview
18.1.2 Service Offerings
18.1.3 Key Takeaways
18.6 Snooze at My Space
18.10 9 Hours
18.11 Siesta Box
For more information about this report visit https://www.researchandmarkets.com/r/dh4mrp