Capsule Hotel Market Size Analysis by Growth, Emerging Trends

0

Capsule hotel market

The global capsule hotel market is valued at USD 230.77 Billion in 2022 and is projected to reach a value of USD 446.50 Billion by 2030, growing at a CAGR of 8.6% over the forecast period 2022-2030 .

Capsule hotel, also known as pod hotel or sleeping cabin, is a unique and innovative type of accommodation available at an affordable price.Each traveler occupies a capsule, basically a capsule the size of a bed, which can be closed either with a curtain or door without a lock. These capsules in the hotels are arranged in rows and are equipped with Wi-Fi, a locker, sockets and other amenities. The first capsule hotel opened in Osaka in 1979. However, nowadays these hotels can be found in other parts of the world including India, Singapore, UK and others. Additionally, the market demand for capsule hotels is increasing owing to the increase in solo tourism globally.

Main market trends
Each market has its growth determinants and challenges. One of the major factors fueling the growth of the market over the forecast period is high-end luxury capsule hotels and airport capsules.
The first caters to the wealthy, businessmen and foreign nationals looking for a unique life experience. These are found in the popular and upscale bar districts and are frequented by salaried Japanese men who are unable or unwilling to return home after a night of drunken revelry. They are accommodated for the night because it is much more convenient to stay in these hotels than to take the train home, which are normally located on the outskirts of town.
The second caters to business clients and jet-setters who travel from country to country for board meetings in various locations. They are positioned close to the airports and offer low-cost accommodation with convenient access to both the airport and the city, meeting the main needs of their customers. Airport capsule hotels, in particular, have been accepted by a number of countries due to their cross-cultural way of booking.

Get a free sample report: https://wemarketresearch.com/sample-request/capsule-hotel-market/319/

Market segment analysis
Based on type of traveler
• Only
• Band
The solo segment accounted for the highest market share of capsule hotels. According to recent trends, solo tourism is on the rise and as a result, the number of people traveling solo by choice and looking for cheap accommodation has increased.

Based on booking mode
• Online booking
• Offline booking
Offline booking segment accounted for the highest market share in 2019. Most travelers prefer offline booking mode to book capsule hotels as they find it easy.

Based on age group
• Generation X
• Generation Y
• Generation Z
The millennial segment accounted for the highest market share in the global market in 2019. This generation prefers to opt for budget accommodation, which has driven the growth of the capsule hotel market.
Asia-Pacific is expected to expand at a considerable CAGR
The global capsule hotel market is further segmented into five major countries: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Among these, Asia-Pacific accounted for the highest market share, which is attributed to the increase in the number of travelers coupled with the rising purchasing power of countries like India, China and Japan. However, Europe is the lucrative capsule hotel market and is expected to grow at a significant rate during the forecast period.
Competitive landscape
Some of the major companies operating in the market are 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.

Buy this report: https://wemarketresearch.com/purchase/capsule-hotel-market/319/?license=single

Frequently Asked Questions
• What is the growth rate of the global capsule hotel market?
• What are the main determinants of market growth?
• What are the major regions that make up the geographic landscape of the market?
• What are the main companies operating in the market?

Contact us:
We study the market
Phone: +1(650)-666-4592
Email: [email protected]
The Web: https://wemarketresearch.com/

About We Market Research:
WE MARKET RESEARCH is an established market analysis and research company with domain experience spanning different industries. We have worked on multi-county market research since our inception. Over time since our existence, we have won accolades for our deep-rooted market research and insightful analysis of various markets.
Our strategic market analysis and ability to understand the deep cultural, conceptual and social aspects of various intertwined markets have helped us gain a foothold in the industry. WE MARKET RESEARCH is a pioneer in supporting many companies; both regionally and internationally to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of designing market strategies that ensure guaranteed customer bases for our clients.

This press release was published on openPR.

Share.

Comments are closed.