Airport Sleeping Pods Market Analysis
Airport Sleeping Pods Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis for 2018-2026
Sleeping pods are enclosed beds, or state-of-the-art chair that converts into a sleeping pod with a fold-flat bed, which are used by passengers during layover at airports. These sleeping pods offer facilities such as Wi-Fi, television, and minimum requisite space for a human body resting. Increasing government investment for offering passenger-friendly facilities at airports is one of the major factors for growth of the global airport sleeping pods market. For instance, in 2016, Government of India announced a plans to invest US$ 120 Billion for infrastructure development of airports. Most governments focus on allotting space for sleeping pods in airports to private parties who handle the installation and maintenance of pods.
Furthermore, the rising capsules hotels at airports is one of the major trends for growth of the global airport sleeping pods market. Capsules hotels are small box type hotels, which provide facilities such as Wi-Fi connectivity, electric components, television, and other facilities. Increasing demand for hotels or waiting rooms at airports have accelerated demand for capsules hotels.
Moreover, some of the major challenges, which are adversely affecting growth of the global airport sleeping pods market are high product costs, high maintenance costs, and adherence to stringent regulations regarding electrical components.
Global Airport Sleeping Pods Market Taxonomy
On the basis of product type, the global airport sleeping pods market is classified into:
On the basis of End-users, the global airport sleeping pods market is classified into:
On the basis of regions, the global airport sleeping pods market is classified into:
North America airport sleeping pods market is projected to retain its dominance in the global airport sleeping pods market.
On the basis of region, the global airport sleeping pods market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to be a leading region in the global airport sleeping pods market in 2018, in terms of market share and is projected to retain its dominance during the forecast period. In addition, the rising numbers of air passengers plays a key role for growth of the global airport sleeping pods market. According to Federal Aviation Administration Aerospace forecast, in 2017, around 229 million passengers are estimated to travel by flight in the U.S., up from 218 million passengers in 2016. Moreover, large number of airports in the U.S. have also accelerated adoption of this product. According to the United States Department of Transportation, in 2016, the number of airports in the U.S. was around 19,536 airports.
Asia Pacific market is projected to register the highest growth rate over the forecast period, with India, China, and Japan being the major growth engines. Rising smart city projects, and increasing number of aero plane passengers in emerging economies are some of the major factors driving growth of the market in Asia Pacific. According to Directorate General of Civil Aviation (DGCA) India, in January 2018, the India’s domestic air traffic nearly doubled to 117 million passengers in 2017 with 100 flights taking off every hour compared with 67 in 2011. In addition to this, India’s airlines flew 117.18 million passengers in 2017 compared with 59.87 million in 2011. Moreover, increasing travel and tourism industry in Asia Pacific further fuels demand for capsules hotels at airports, which fuels growth of the sleeping pods market in this region. According to India Brand Equity Foundation, direct contribution of tourism and hospitality industry to GDP is US$ 72 Billion in 2016 and is projected to reach US$ 178 Billion by 2027.
Global Airport Sleeping Pods Market: Key Players
Some of the major companies in the global airport sleeping pods market include GoSleep, Sleepbox, SnoozeCube, and MetroNaps. Key industry participants are focusing on strategic initiatives such as collaborations with government bodies, offering better facilities in sleeping pods, and others to increase its market share. For instance, in 2013, government of Abu Dhabi announced installation of GoSleep sleeping pods, which enables passengers to rest in a private and secure environment at Abu Dhabi International Airport. Also, in 2017, SleepBox launched a cozy luxury sleep pods with features such as drop-down desk, Bluetooth-enabled speakers, Wi-Fi, and electrical outlets.
Global Airport Sleeping Pods Market: Key Developments