Portland, June 21, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global capsule hotel market was pegged at $202.3 million in 2019, and is projected to reach $276.2 million by 2028, growing at a CAGR of 8.2% from 2022 to 2028.
Emergence of mobile applications, ease in bookings, proliferation of the travel and tourism industry, and cost-effectiveness have boosted the growth of the global capsule hotel market. On the contrary, surge in unrest due to terrorism and local issues in several countries hamper the market growth. However, increase in the number of train stations and airports in emerging economies opens lucrative opportunities in the future.
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Download PDF Sample ReportCovid-19 Scenario:
- The Covid-19 pandemic and followed lockdown disrupted operations at airports and railway stations, which resulted in a reduction in bookings of capsule hotels.
- Moreover, international and local travel bans created several challenges for the travel and tourism industry.
- However, the bookings would rise slowly post-pandemic as several governments have announced to lift-off restrictions on travel and tourism.
The global capsule hotel market is segmented on the basis of traveler type, booking mode, age group, and region.
Based on booking mode, the online booking segment would portray the highest CAGR of 10.7% during the forecast period. However, the offline booking segment held the lion’s share in 2019, contributing to nearly 88% of the market.
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Based on traveler type, the solo segment is estimated to register the highest CAGR of 8.7% during the forecast period. However, the segment held the largest share in 2020, accounting for more than four-fifths of the market.
The global capsule hotel market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe would manifest the highest CAGR of 14.6% during the forecast period. However, the market across Asia-Pacific dominated in 2019, holding around 87% of the market.
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The global capsule hotel market includes an in-depth analysis of the prime market players such as The Capsule Hotel, First Cabin HD Co., Ltd., UZ.Hotesl, Book & Bed Tokyo, Urbanpod Hotel, The CUBE Hotel Group, Riccarton Capsule Hotel, Nadeshiko Hotel Shibuya, The Bed KLCC, and Pangea Pod Hotel.
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