The global capsule hotel market reached a value of US$ 78.41 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 274.18 Million by 2027 exhibiting a CAGR of 9.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
A capsule hotel, or pod hotel, refers to a compact accommodation facility equipped with basic amenities. These capsules are integrated within hotels and are arranged in rows and furnished with a locker facility, alarm clock, common washrooms, charging sockets and single or double beds. The bookings for capsule hotels are usually made through online and offline booking modes. The capsules are manufactured using metal, wood and rigid materials, such as plastic and fiberglass. Capsule hotels provide enhanced comfort, privacy, safety and convenience to the travelers. In comparison to business hotels, capsule hotels are more cost-efficient and offer spacious common areas, baths and theatre rooms.
Capsule Hotel Market Trends:
- Significant growth in the travel and tourism industry across the globe is creating a positive outlook for the market. There is an increasing consumer preference for hygiene, comfort, cost-effective and budget-friendly accommodation while traveling, which is driving the market toward growth. Additionally, the widespread product adoption among millennials and solo travelers for adventure, travel expeditions and exploring the culture of destinations is favoring the market growth. Various technological advancements, such as the integration of smartphone applications to access personal capsules and smart pods, are providing a thrust to the market growth. These technologies also offer soundless alarm systems that gradually raise sleeping guests into seated positions while brightening the ambient lights. In line with this, the utilization of artificial intelligence (AI) in capsule hotels to monitor health and predict the food preferences of the guests is positively impacting the market growth. Other factors, including rising expenditure capacities of the consumers, along with the implementation of various government initiatives for promoting travel and tourism, are anticipated to drive the market toward growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global capsule hotel market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on traveler type, booking mode, age group and application.
Breakup by Traveler Type:
Breakup by Booking Mode:
- Online Booking
- Offline Booking
Breakup by Age Group:
- Generation X
- Generation Y
- Generation Z
Breakup by Application:
- Office Workers
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being CubeHotelsGroup, De Bedstee Hotel, Hippo Pod, inBox Capsule Hotel, Mayu Tokyo Woman, Nadeshiko Hotel, Pangea Pod Hotel, Riccarton Capsule Hotel, St Christopher's Inns, The Bed KLCC, The Capsule Hotel and Urban Pod Pvt Ltd. Key Questions Answered in This Report:
- How has the global capsule hotel market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global capsule hotel market?
- What are the key regional markets?
- What is the breakup of the market based on the traveler type?
- What is the breakup of the market based on the booking mode?
- What is the breakup of the market based on the age group?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global capsule hotel market and who are the key players?
- What is the degree of competition in the industry?