Capsule Hotel Market worth USD 286.2 million by 2030

The Market Statsville Group (MSG) publishes a new report on the "Capsule Hotel Market by Traveler Type (Solo and Group), by Booking Mode (Online Booking and Offline Booking), by Age Group (Generation X, Generation Y, and Generation Z), by Region – Global Share and Forecast to 2030".

The global capsule hotel market size is expected to grow from USD 76.5 million in 2021 to USD 286.2 million by 2030, at a CAGR of 8.2% during the forecast period. The capsule hotel market industry is gaining traction worldwide due to the rise in demand for hotels available at a cheaper rate. Moreover, the surge in travel and tourism across the globe is further expected to boost the demand for capsule hotels. Moreover, capsules hotels are also gaining due to popularity majorly in Asian countries due to the rise in number of travelers and the increase in the growth of hotels in the region.

The rise in the trend of luxury capsule hotels and the increase in the availability of capsule hotels at airports and train stations have increased the demand for such hotels among travelers. Businesspeople and foreign tourists seeking a unique accommodation experience are some of the other factors that are driving the market.

Global Capsule Hotel Market Segmentation

The overall capsule hotel market has been segmented into the traveler type, booking type, age group, and region.

• By Traveler Type (Solo and Group)
• By Booking Mode (Online Booking and Offline Booking)
• By Age Group (Generation X, Generation Y, and Generation Z)
• By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Offline, by tool type, is estimated to hold the largest market share during the forecast period

By booking mode, the capsule hotel market is classified into online booking and offline booking. In 2021, the offline booking had the largest market share of 88.2% in the global capsule hotel market. Offline Booking refers to all the physical centers where booking for capsule hotels is done. The offline booking segment is expected to witness a slow growth as compared to online booking mode due to rise in popularity of online booking mode.

The conventional centers often include travel agents who assist travelers in booking capsule hotels for themselves. Also, the airports in various countries like Turkey, Japan, Canada, Mexico, the U.S., Singapore, Malaysia, and others offer the option to reserve capsule hotels or sleeping cabins via offline booking at the terminal or railway station to the travelers inside the airports and train stations on an hourly basis to relax before their next flight or train. These factors have fostered the growth of the capsule hotel market for the offline booking segment.

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Asia Pacific accounts for the largest market share in capsule hotel market

Based on the regions, the global capsule hotel market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific accounted for the highest market share in the global capsule hotel market. Asia-Pacific is the largest and the fastest-growing region in the capsule hotel market. Improvement in infrastructure and the presence of a maximum number of customers opting for capsule hotel for accommodation purposes majorly in Japan boost the growth of the capsule hotel market in the Asia-Pacific region.

Asia-Pacific has been known for its diverse culture and attractive destinations. Countries in the Asia-Pacific region have the highest outbound trip concentrations among the higher household income brackets. This can be attributed to rapidly growing economy and new job opportunities promoting an increase in household income in the Asia-Pacific region. Thus, this in turn is expected offer immense opportunity for the growth of the capsule hotels in countries like India, China, Malaysia, Singapore, and Taiwan.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the capsule hotel market. It also consists of the profiles of leading companies such as Book & Bed Tokyo, 9h Ninehours, First Cabin HD Co., Ltd., Darakhyu Capsule Hotel, The Capsule Hotel, Urbanpod Hotel, UZ.Hotesl, Riccarton Capsule Hotel, Nadeshiko Hotel Shibuya, The Bed KLCC, The CUBE Hotel Group, Pangea Pod Hotel, Hippo Pod, The Bedstee Hotel, and The Global Hotel Tokyo.

Browse the complete report: https://www.marketstatsville.com/capsule-hotel-market

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