DUBLIN–(BUSINESS WIRE)–The “Capsule Hotel Market by Traveler Type, Booking Mode and Age Group: Global Opportunity Analysis and Industry Forecast, 2022-2028.” report has been added to ResearchAndMarkets.com’s offering.
The global capsule hotel market size was valued at $202.3 million in 2019, and is projected to reach $276.2 million by 2028, registering a CAGR of 8.2% from 2022 to 2028.
Capsule hotel, which is also known as a pod hotel or sleeping cabin, is a unique and novel type of accommodation available at affordable price. It is a unique and novel type of accommodation that is budget friendly and is equipped with basic amenities, which include single or double bed, pillow, locker facility, alarm clock, charging socket, common washroom, and others.
Growth of the travel and tourism industry across the globe along with preference for cost-effective living during travel drive the demand for capsule hotels among the travelers. However, increase in unrest due to terrorism and domestic issues in countries have created challenge for the growth of the capsule hotel market. Nevertheless, introduction of capsule hotels in untapped market is likely to offer opportunities for the growth of the capsule hotel industry in terms of value sales during the forecast period.
There has been a decline in the growth of the capsule hotel market due to the outbreak of coronavirus pandemic that result in the shutdown of the operation of airports and railway stations owing to the lockdown situation imposed by the governments in various countries. This hampered the market growth.
The global capsule hotel market is segmented into traveler type, booking mode, age group, and region. By traveler type, the market is classified into solo and group. By booking mode, it is divided into online booking and offline booking. By age group, the market is segregated into generation X, generation Y, and generation Z. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the capsule hotel market from 2019 to 2028 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped on the basis of their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists in determining the prevailing capsule hotel market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry.
- The report includes the analysis of the regional as well as global market, key players, market segments, and growth strategies.
Market Dynamics
Drivers
- Proliferation of global travel and tourism industry
- Mobile applications, big data analytics, and artificial intelligence evolving together amidst the proliferating hospitality industry
- Cost-effectiveness
Restraints
- Increase in unrest due to terrorism and domestic issues in countries
- Negative impact of covid-19
Opportunities
- Introduction of capsule hotel in untapped market
- Rise in number of airports and train stations in the developing regions
Companies Mentioned
- Capsule Hotel
- First Cabin HD Co. Ltd.
- UZ.Hotels
- Book & Bed Tokyo
- Urbanpod Hotel
- The CUBE Hotel Group
- Riccarton Capsule Hotel
- Nadeshiko Hotel Shibuya
- The Bed KLCC
- Pangea pod hotel.
For more information about this report visit https://www.researchandmarkets.com/r/mrv5h1
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