PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1476410
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1476410
According to Stratistics MRC, the Global Airport Sleeping Pods Market is accounted for $70.8 million in 2023 and is expected to reach $112.3 million by 2030 growing at a CAGR of 6.8% during the forecast period. Airport sleeping pods offer weary travellers a private sanctuary for rest amid the hustle of terminals. Compact and ergonomic, these pods provide a cocoon-like space equipped with a comfortable bed, charging ports, and sometimes entertainment options. Designed for short-term use, they offer a refuge for passengers facing long layovers, delayed flights, or early departures. With their convenience and privacy, these pods cater to the needs of modern travellers seeking respite and relaxation in the midst of their journey.
According to Airports Council International, Atlanta GA Airport is the world's busiest airport, with a total number of passengers 93,699,630 in 2022, followed by Dallas/Fort Worth TX Airport and Denver Co Airport, all belonging to the United States. Not only this, 10 out of the top 20 airports worldwide are in the United States.
Growing focus on passenger comfort and convenience
As airports seek to enhance the passenger experience, there's a rising demand for amenities that cater to passenger comfort during layovers or delayed flights. Sleeping pods offer travelers a private space to rest and recharge, contributing to increased demand for such facilities. Moreover airports are increasingly investing in or partnering with companies that provide sleeping pod services. This trend has led to the expansion of sleeping pod facilities in airports worldwide, accommodating the growing demands from passengers seeking comfort and relaxation during their travels.
High cost
The high cost of installing and maintaining sleeping pods can make them inaccessible to budget-conscious travellers and can deter airports from investing in sleeping pod facilities or lead them to offer limited numbers of pods. Additionally airports that cannot afford to invest in sleeping pods or choose not to due to high costs may face a competitive disadvantage compared to those that offer these amenities. Passengers may choose airports with better comfort facilities, affecting the traffic and revenue of airports without sleeping pods hindering the market growth.
Privatization and deregulation of airports
Privatization and deregulation often introduce competition among airports to attract passengers. As a result, airports may invest more in passenger amenities, including sleeping pods, to differentiate themselves and attract airlines and travellers and encourage airports to innovate and invest in new services and facilities, including sleeping pods. This can lead to an expansion of the sleeping pods market as more airports seek to enhance the passenger experience propelling the market growth.
Limited space availability
Airports have limited space that must accommodate and may restrict the number of sleeping pods that can be installed at an airport various facilities and services, including boarding gates, retail outlets, and security checkpoints. Competition for space among these different elements can make it difficult to allocate sufficient room for sleeping pod facilities, potentially leading to their exclusion or limited availability.
Covid-19 Impact
With travel restrictions, reduced flights, and health concerns leading to a sharp decline in demand. Many airports closed or limited access to sleeping pod facilities to adhere to safety protocols. However, as travel gradually resumes, there's potential for a recovery as travelers seek safe and convenient rest options during layovers or overnight stays. Enhanced cleaning protocols and innovations such as contactless check-in and ventilation systems may become standard, reassuring travelers and revitalizing the market as it adapts to the new normal.
The single occupancy sleeping pods segment is expected to be the largest during the forecast period
The single occupancy sleeping pods segment is estimated to have a lucrative growth, as single occupancy pods may attract more travellers who prioritize privacy and comfort, thereby increasing demand for sleeping pod services at airports. With more travellers opting for single occupancy pods, airports and pod providers may see an increase in revenue as they can accommodate more individuals in smaller spaces. Thus the availability of single occupancy pods could broaden the market appeal of airport sleeping pod services, attracting a wider range of travellers, including solo business travellers, couples, and families.
The sleeping beds segment is expected to have the highest CAGR during the forecast period
The sleeping beds segment is anticipated to witness the highest CAGR growth during the forecast period, sleeping beds may pose competition to traditional sleeping pods, as they offer a different experience and cater to a potentially different segment of travellers. Hence the introduction of sleeping beds could lead to market segmentation, with some travellers opting for the convenience and privacy of sleeping pods, while others choose the comfort and spaciousness of sleeping beds driving the market growth.
Asia Pacific is projected to hold the largest market share during the forecast period owing to the robust investments in constructing new airports and expanding existing airports. Over the past few years, there has been a rapid increase in passenger traffic handled by airports in countries like China, India, Japan, and South Korea, among others. Due to this, the government and airport authorities in the region have announced significant investments in the construction and expansion of airports.
North America is projected to have the highest CAGR over the forecast period, owing to the presence of some of the world's busiest airports, with millions of travelers across the region and greater demand for comfortable resting options during extended waiting periods and layovers. As the concept of sleeping pods is becoming widely known and accepted, more passengers are likely to seek out and utilize these types of facilities when available; thus several airports are looking to incorporate sleeping pods at various terminals to boost their revenue significantly.
Key players in the market
Some of the key players in the Airport Sleeping Pods Market include GoSleep, Metronaps, NapCabs GmbH, Minute Suites, SnoozeCube, ZZZleepandGo, Jet Quay, Minute Suites, Snooze at my space, 9h Ninehours, YOTEL, Sleepbox, Aviserv and Iga
In January 2024, Zzzleepandgo launches "smart lounges" at Vienna Airport,the 16 "smart lounges" provide an exclusive, peaceful place for working, resting or staying overnight. The sleeping cabins are equipped with a comfortable place to rest or lie down, electricity and USB ports, free W-Lan as well as shelves and a foldable table.
In October 2023, Minute Suites Opens Its First Location at Salt Lake City Airport. The new site is in concourse a near Gate A33 and features 7 suites. This is part of SLC's expansion project for Concourse A
In July 2023, HSLIC has purchased two MetroNap Pods for patrons to use throughout the day for mental and physical health. Pods include a privacy visor, built-in timer, and specifically composed sleep music with built in headphones.