Market Overview:
Global Sleeping Pods Market size was valued at USD 1.83 Billion in 2019 and is poised to grow from USD 2.02 billion in 2023 to USD 4.49 billion by 2031, at a CAGR of 10.50% during the forecast period (2024-2031). In the last few years, the market has started witnessing a significant growth in the demand for these pods as they enable consumers to take short, peaceful naps of about 15-20 minutes or to rest for long periods of time.
Market Insights:
Sleeping Pods Market Driver:
Increasing Popularity of Powernaps to Bolster Sleeping Pods Market
Technology is advancing at an increasing pace and there are more people than ever encouraging these advancements. Sleep science has become increasingly popular the last decade and nowadays people are waking up to the idea of power naps as a way to refresh their minds and bodies. It’s no surprise that sleeping pods have become so popular for taking powernap, because they offer workers a break from the rigors of their daily schedule. This, in turn, is benefiting the employers in terms of higher productivity, lower attrition rate, and more happy faces.
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Growing Investments by Manufacturers to Develop Improved Products
Since the inception of sleeping pods in the early 2000s, sleep innovation has seen significant growth. This recent development is most evident with the increase in investments by manufacturers to improve these pods. As a result, the market is seeing rapid growth, giving companies an advantage over their competitors. Improved sleeping pods are not only more comfortable but also more efficient and practical.
Key Market Segments:
Global sleeping pods market is segmented based on the module, end user, application and region.
Based on the module, the Sleeping Pods Market is segmented into compact pod, single pod, double pod, and multiple pod.
Based on the end user, the Sleeping Pods Market is bifurcated into Children and Adults.
Based on the application, the Sleeping Pods Market is segmented into hospitals, corporate offices, airport, academics, and others.
By Region, the Sleeping Pods Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
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Sleeping Pods Market Analysis by Application
Based on application, the airport segment dominated the market in 2021 and is projected to continue enjoying the largest market share in the years to come thanks to the increasing use of sleeping pods as ‘pay-as-you-go’ sleeping spaces in airports to allow passengers to rest between flights. For instance, Air New Zealand has recently announced the world’s first lie-flat “pods” — for economy passengers. Moreover, the “Skynest” has announced deployment of rentable sleep pods, and it will be available by 2024.
Apart from airport, corporate office segment is expected to continue being the second largest market revenue generating segment during the forecast period as more corporate offices are gaining importance of sleeping pods and their impact on improving productivity.
Regional Insights:
In 2021, North America dominated the global sleeping pods market and is expected to do so during the forecast period. This is due to the region’s early access to advanced technologies, increased awareness of nap pods, and high consumer disposable incomes. In 2021, US airlines carried 674 million passengers (not seasonally adjusted), an increase of 82.5% over 2020. (369 million, unadjusted). In the US, the cost of a one-hour stay is $42. (Which is the minimum). If guests need more sleep (more than eight hours), they can rent a pod for around $155.
Due to rising product demand from various industries, Europe also has a significant share of the industry. Meanwhile, the Asia Pacific region is expected to provide lucrative growth opportunities for the sleeping pods market during the forecast period as a result of increased awareness about the benefits of nap pods and increased technological acceptance in the region, especially in India, China, and Japan.
Prominent Players in Sleeping Pods Market:
- GoSleep
- NapCabs GmbH
- AirPods Sleeping Pod
- SnoozeCube Sleeping Pods
- Sleepbox Sleeping Pods
- Minute Suites Sleeping Pods
- Yotel Sleeping Pods
- Podtime Sleeping Pods
- Jetquay Sleeping Pods
- MetroNaps Sleeping Pods
- Dream and Fly Sleeping Pods
- SNOOZE at Hotel Jen Sleeping Pods
- Sleep’nFly Sleeping Pods
- Snooze KLIA Sleeping Pods
- Sleep Lounge Sleeping Pods
- Sleepy Panda Sleeping Pods
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Key Questions Answered in Sleeping Pods Market Report:
What is the global market size of the Sleeping Pods Market?
Who are the key vendors in the Sleeping Pods Market?
What is the key driver of the Sleeping Pods Market?
What is the key market trend for the Sleeping Pods Market?
Which region accounted for the largest share in the Sleeping Pods Market?
Additional Insights:
Market Penetration: Analysis of the product portfolio of different market players and the status of new product launches.
Product Development/Innovation: Assessment of R&D activities, new product development, and emerging trends.
Market Development: Analysis of regions with high growth potential.
Market Diversification: Assessment of new products, recent developments, and emerging regional markets.
Competitive Landscape: Growth strategies, revenue analysis, and product innovations by market players.
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