Capsule Hotel Market is expected to reach USD 276.2 Million by 2028, registering a CAGR of 8.2% from 2022 to 2028

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Capsule hotel

The market demand for capsule hotels is increasing owing to the rise in solo tourism globally.

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, March 14, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled “Capsule Hotel Market by Traveler Type, Booking Mode, and Age Group: Global Opportunity Analysis and Industry Forecast, 2022–2028”, Global Capsule Hotel Market Size was valued at USD 202.3 Million in 2019 and is projected to reach USD 276.2 Million by 2028, recording a CAGR of 8.2% from 2022 to 2028. Capsule hotel is also known as sleeping cabins or pod hotels. It is a unique and innovative type of accommodation, economical and with basic amenities including single or double bed, pillow, locker, alarm clock, charging socket, shared toilet, etc. .

The capsule hotel market industry is gaining momentum across the world owing to the increase in demand for hotels available at cheaper rates. Additionally, surging travel and tourism across the globe is further expected to drive the demand for the capsule hotel market. Furthermore, capsule hotels are also gaining popularity mainly in Asian countries due to the increase in the number of travelers and the increased growth of hotels in the region. Moreover, modern capsule hotels with facilities like a common area with free hot drinks and fast Wi-Fi and others are the current trends in the capsule hotel market.

The COVID-19 pandemic is negatively impacting the capsule hotel market, due to travel restrictions across the globe in an effort to prevent the spread of the pandemic. Capsule hotels around the world have witnessed an unprecedented drop in demand from 2020 due to the COVID-19 pandemic which has led to an exponential reduction in personal and business travel, which has severely affected the growth of the hotel market. capsule hotels in terms of sales value.

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The rise of high-end luxury capsule hotels and increasing availability of capsule hotels at airports and train stations are driving the demand for such hotels among travelers. Another factor that is paving the way for the growth of the capsule hotel market is foreign businessmen and tourists looking for a unique accommodation experience. Moreover, some capsule hotels are located very close to the airports and offer cheap accommodation with easy connectivity options both at the airport and in the city, which makes it popular among businessmen. Airport and train station capsule hotels are increasingly being adopted by several countries such as India, Japan, US and others which in turn is expected to provide a lucrative opportunity for market growth capsule hotels in terms of sales value in the coming years.

The global capsule hotel market segment is categorized by traveler type, booking mode, age group, and region. By traveler type, the market is categorized into solo and group. By booking mode, it is divided into online booking and offline booking. By age group, the market is bifurcated into Generation X, Generation Y, and Generation Z. By region, the market is analyzed into North America, Europe, Asia-Pacific, and LAMEA.

Main results of the study

By traveler type, the solo segment accounted for the highest capsule hotel market share in 2019 and is expected to grow at a CAGR of 8.7% from 2022 to 2028.
By booking mode, the offline booking mode segment got the highest share in 2019 and is expected to grow at a CAGR of 8.1% during the forecast year.
By age group, the millennial segment occupied the maximum market share in 2019 and is expected to dominate the market during the forecast period.
By region, Asia-Pacific led the market, in terms of share, in 2019, and is expected to grow at a CAGR of 7.4% during the forecast year.

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The major players operating in the capsule hotel industry are The Capsule Hotel, First Cabin HD Co., Ltd., UZ.Hotesl, Book & Bed Tokyo, Urbanpod Hotel, The CUBE Hotel Group, Riccarton Capsule Hotel, Nadeshiko Hotel Shibuya, The Bed KLCC and Pangea pod hotel.

Other players analyzed for the market are Nonze Hostel, Pattaya, Dream Lodge, Lavender, Singapore, Inbox Capsule Hotel, Saint Petersburg, The Pod Sydney, Anshin Oyado, Bloc Hotels, Tubohotel, Koyasan Guesthouse, Time Capsule Retreat, Comicap, De Bedstee Boutique Capsules, Take Surf Hostel Conil, Atypicap Capsule Hostel, Hipstercity Hostel and Eighteen By Three Cabins.

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FREQUENTLY ASKED QUESTIONS?
Q1. What will be the size of the capsule hotel market in 2028?
Q2. What is the CAGR of Capsule Hotel Market?
Q3. How can I get a sample capsule hotel market report?
Q4. Who are the Key Companies in the Capsule Hotel Market?
Q5. What are the segments of the capsule hotel market?

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David Correa
Allied Analytics LLP
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