The global airport sleeping pods market size was valued at USD 45.12 billion in 2020 and reach USD 62.92 billion in 2027, with a CAGR of 5.7% during the forecast period (2021-2027). Advancement in technology-enhanced the quality and comforts of sleeping pods, including premium facilities such as Wi-Fi, television, spa & massage, free shower facilities are expected to accelerate the growth of the global market. Moreover, the renovation of old airports into modern airports is estimated to fuel the demand for airport sleeping pods across the globe. These factors will lead to the rapid growth of the sleeping pods market during the forecast period.
Factors Affecting the Airport Sleeping Pods Market over the Forecast Period:
- The development of next-generation smart airport pods with big data and IoT technology is expected to increase the demand need for the product and also a KPI for the manufacturers to increase their market share in the global airport sleeping pods market
- The rise in airport facilities in developing economies and increasing passenger traffic for business purposes is estimated to increases the demand for airport sleeping pods.
- Airline carriers are trying the enhance the experience of the passenger and also, raising the standard of passengers during air travel has led to drive the growth of the airport sleeping pods market.
- Due to high maintenance and the initial cost, airport sleeping pods are not available at every airport, which is one of the key challenges for the growth of the airport sleeping pods market.
- Due to the privatization, the infrastructure and standard of the airports have enhanced, which boosts the demand for airport sleeping pods.
Impact of COVID-19 on Airport Sleeping Pods Market:
The COVID-19 pandemic has affected the aviation industry severely, thus resulted in the loss of the airport’s sleeping pods market. Due to the lockdown situation, people mostly stayed home, and thus it led to a reduction in demand for sleeping pods. Moreover, the government has broken off their operations, and labor stopped coming to work, which has certainly impacted the growth of the airport sleeping pods market.
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Scope of the Report
The report outlines the global airport sleeping pods market study based on product type, stay hours, and airport types.
Based on the product type, the airport sleeping pods market has been segmented into–
- Single Occupancy
- Shared Occupancy
Based on the stay hours, the airport sleeping pods market has been segmented into –
- Less than 2 hours
- More than 2 hours
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Based on the airport types, the airport sleeping pods market has been segmented into–
Airport Sleeping Pods Market: Regional Outlook
Based on the region, the global airport sleeping pods market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, North America held the largest share in the global airport sleeping pods market, followed by Asia-Pacific and Europe. Moreover, Asia Pacific is expected to grow with a relatively high CAGR over the forecast period owing to an increase in the number of international and domestic airports in the developing economies across the globe.
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Key Global Airport Sleeping Pods Market Competitors Includes –
The global airport sleeping pods market is fairly consolidated, with the presence of a significant number of players across the globe. The key players operating in the global airport sleeping pods market are–
- Minute Suites
- Snooze at My Space
- ZZZleep and Go.
The airport sleeping pods market report thoroughly analyzes macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market player’s presence in the respective segment and region/country. The information concluded in the report includes the inputs from primary interviews with industry experts.
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