Airport Sleeping Pods Market to Touch USD 93.7 Million at 4.6% CAGR by 2030 The Increase in Flight Delays and Long Layovers to Boost Industry Growth
Research Reports
Nov 28, 2023
Airport Biometrics Market Overview:
Airport sleeping pods market will touch USD 93.7 million at a 4.6% CAGR by 2030, as per the recent Market Research Future report.
Drivers:
Increase in Flight Delays and Long Layovers to Boost Market Growth
The amount of lengthy layovers & flight delays is expected to rise, leading to a rise in the demand for sleeping pods at airports throughout the world. The frequency of occurrences involving aircraft cancellations, delays, or extended layovers in fact has grown concurrently with a global growth in the number of travelers in recent years. Passengers who already have travelled a great distance when coming from distant locations may find such situations to be exhausting. Such folks find much-needed comfort in sleeping pods.
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Key Players:
Eminent industry players profiled in the global airport sleeping pods market report include GoSleep (U.S.), Sleepbox (U.S.), SnoozeCube (U.A.E), Napcabs (Germany), Minute Suites (U.S.), 9hours (Japan), JetQuay (Singapore), Snooze At My Space (India), MetroNaps (U.S.), YOTEL (U.K.), and zzzleepandgo (Italy).
Opportunities:
Rise in Budget-Conscious Travelers to offer Robust Opportunities
Another important factor in the industry is the growing number of travelers who are cost-conscious. Due of the high related costs, many individuals might not feel comfortable paying additional money to reserve a hotel outside an airport during extended layovers. Airport sleeping pods offer a practical substitute in these circumstances. The pods’ possibilities for convenience and time-saving have developed into a strong selling feature in the market. The convenience of not having to leave the airport grounds and the option to select a service that is adjacent to the terminal benefits the market.
Restraints and Challenges:
High Initial Installation Cost to act as Market Restraint
The high initial installation cost, need for heavy maintenance, and adherence to strict regulations concerning electrical components may act as market restraints over the forecast period. Besides, the COVID-19 impact may also impede market growth.
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Market Segmentation:
The global airport sleeping pods market is bifurcated based on product, stay hours, and airport types.
By product type, single occupancy will lead the market over the forecast period.
By stay hours, less than 2 hours will domineer the market over the forecast period.
By airport types, international will spearhead the market over the forecast period.
Regional Analysis:
North America to Head Airport Sleeping Pods Market
The market is anticipated to be dominated by North America and account for the greatest share. The expansion of the market in this area is being fueled by the rising number of air travelers and the improved economy. The need for sleeping pods at some of the major airports in the US and Canadian regions—the former of which sees millions of passengers each day—is likely to propel the worldwide airport sleeping pods market in North America to explosive development. The existence of several businesses making ground-breaking contributions to the sector might potentially benefit the local market.
APAC to Have Admirable Growth in Airport Sleeping Pods Market:
Due to the region’s expanding population, the rise of low-cost airlines, and the tourist booms in nations like South Korea, Japan, & Southeast Asia, the Asia Pacific region is predicted to have the second-highest market share. Due to an increase in smart city initiatives, an increase in air passenger traffic, and a developing travel and tourism sector in rising nations like India, China, and Japan, the Asia Pacific market will expand at the highest CAGR in the world.
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