According to the Market Statsville Group (MSG), the global capsule hotel market size was valued at USD 76.5 million in 2021 and is estimated to reach USD 286.2 million by 2030, registering a CAGR of 8.2% during the forecast period (2022 to 2030). The growth of the travel and tourism industry across the globe along with the preference for cost-effective living during travel, drive the demand for capsule hotels among travelers. However, the increase in unrest due to the terrorism and domestic issues in nations has created a challenge for the market growth of the capsule hotel globally. Nevertheless, the introduction of capsule hotels in the untapped market is likely to offer opportunities for the market's growth in terms of value sales during the study period.
There has been a decline in the capsule hotel's market growth due to the coronavirus pandemic outbreak that resulted in the shutdown of airports and railway stations owing to the lockdown situation imposed by the governments in various countries. This hampered the market growth. The global capsule hotel market is segmented into booking mode, age group, traveler type, and region.
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Global Capsule Hotel Market Definition
Capsule hotel, also known as a sleeping cabin or pod hotel, is a unique and novel accommodation available at an affordable price. It is a unique and novel type of accommodation that is budget-friendly and equipped with basic amenities, including a single or double bed, pillow, alarm clock, locker facility, charging socket, common washroom, and others.
Global Capsule Hotel Market Dynamics
Cost-effectiveness is the major factor which is taken into consideration while booking any on-the-go stay while traveling. Capsule hotel rooms are typically cheaper than other types of accommodation including lodge, guest house, luxury hotels, and others. Therefore, majority of the travelers tend to opt for this option while booking a stay. Moreover, these hotels are available on an hourly basis at the airport and train station and are equipped with the basic necessities for the travelers, which in turn fosters the demand among the travelers.
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Restraints: Increase in unrest due to the terrorism and domestic issues in countries
Political unrest and terrorism have affected the overall volume of foreign trips and choice of destination. Terrorism risk tends to scare the tourists affecting tourist perceptions of destinations and travel behavior. A disaster results in a long-term crisis for the local tourism industry. Political unrest and terrorism resulted in the turmoil in the global tourism industry, which has created a challenge for the growth of the capsule hotel market.
Opportunities: Introduction of a capsule hotel in the untapped market
Capsule hotels are still in nascent stages in developed regions of North America and Europe, such as Mexico, the UK, Italy, Germany, Canada, and others. These are still untapped potential markets for the key players as these regions have many tourists, which presents a remunerative opportunity for the increased demand for capsule hotels. Moreover, there is an increase in awareness regarding capsule hotels among travelers, which is expected to provide lucrative opportunities for market growth during the forecast year.
Scope of the Global Capsule Hotel Market
The study categorizes the capsule hotel market based on traveler type, booking mode, and age group at the regional and global levels.
By Traveler Type Outlook (Sales, USD Million, 2017-2030)
By Booking Mode Outlook (Sales, USD Million, 2017-2030)
- Online Booking
- Offline Booking
By Age Group Outlook (Sales, USD Million, 2017-2030)
- Generation X
- Generation Y
- Generation Z
By Region Outlook (Sales, USD Million, 2017-2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
The solo segment is projected to account for the largest market share, by traveler type
By traveler type, the capsule hotel market is classified into solo and group travelers. The solo segment is the leading segment, with a higher market share of 85.1% in 2021. Solo travel is undertaken by a single/solo people. Solo travel destinations have been gaining traction owing to the ability to customize the whole travel experience according to their preference, which help the traveler gather new experiences, meet new people, and attain a sense of empowerment.
There has been a significant increase in the number of people who want to travel solo and this has encouraged travel companies as well as travel agents to provide facilities not only for group travelers but also for solo travelers. According to recent trends, solo tourism is on the rise, and the number of people traveling solo by choice has increased. In addition, the unique design and novelty offered by capsule hotels attract large crowds, especially solo travelers. Also, these hotels are budget-friendly and offer all the necessities to deliver a comfortable stay experience.
Europe accounts for the highest CAGR during the forecast period
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. Globally, Europe is estimated to hold the highest CAGR of 14.6% in the global capsule hotel market during the forecast period. Europe is a mature region comprising people with high disposable income. Overall prospects of leisure inbound and outbound travel look promising as GDP is experiencing growth at a steady pace in Europe. It also has many hotspots and exotic retreats for tourists to offer to prospective capsule customer.
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From the past few years, the capsule hotel has gained a significant momentum owing to rise in disposable income, expansion of logistics infrastructure, rigorous promotion advertising of tourism by governments, and establishment of capsule hotels at airports of various European countries such as Italy, UK, Germany, and others. The Europe capsule hotel market is expected to expand as the number of tourists maintains robust growth each year. Europeans prefer intra-regional traveling with more than three-fourths preferring traveling in Europe itself. This in turn is projected to offer immense opportunities for the growth of the capsule hotel market during the forecast period.
Key Market Players in the Global Capsule Hotel Market
The market players operating in the capsule hotels market have adopted key developmental strategies such as providing various facilities at their hotels such as alarm clocks, breakfast facilities, locker facilities, Wi-Fi connectivity, and others to attract tourists.
Major players in the global capsule hotel market are:
- Book Bed Tokyo
- Darakhyu Capsule Hotel
- 9h Ninehours
- First Cabin HD Co., Ltd.
- The Capsule Hotel
- Urbanpod Hotel
- The CUBE Hotel Group
- Riccarton Capsule Hotel
- Nadeshiko Hotel Shibuya
- The Bed KLCC
- Pangea Pod Hotel
- Hippo Pod
- The Bedstee Hotel
- The Global Hotel Tokyo
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