New York, USA, Nov. 17, 2021 (GLOBE NEWSWIRE) -- A new report on the global capsule hotel market has been added by Research Dive to its repository. As per the report, the market is expected to garner $211.7 million by 2028, growing at a CAGR of 6.0% from 2021 to 2028. This report provides thorough insights into the present condition and future outlook of the global industry. The report is drafted by professional market analysts and assures to be a reliable source of data and detailed market insights for new players, investors, prevailing market players, stakeholders, shareholders, etc.
For More Detail Insights, Download Free Sample Copy of the Report at: https://www.researchdive.com/download-sample/8507
Factors Impacting the Market Growth
Increasing demand for affordable accommodations by the growing middle-class population of the Asia Pacific region due to rising interest in travel and tourism is boosting the growth of the global capsule hotel market . Furthermore, growing trend for solo travelling on a budget among millennial is projected to give rise to profitable opportunities for the market growth during the forecast period. However, the growing competition in the affordable hotel stay sector is anticipated to hinder the market growth.
COVID-19 Pandemic Impact on the Capsule Hotel Market
The outbreak COVID-19 pandemic has negatively impacted the growth of the global capsule hotel industry. The pandemic has significantly reduced both international as well as national travellers and tourists owing to the fear of the spread of the COVID-19 virus among people. The implementation of strict lockdowns in various regions has also affected the growth of the market during the pandemic.
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/8507
The report segments the global capsule hotel market into traveller type, booking mode, age group, and region.
Solo Sub-Segment to Dominate the Market
Among traveller type segment, the solo sub-segment is projected to observe significant growth by garnering $177.4 million in the projected period. The growth of this sub-segment is mostly because of the growing trend for solo travelling among youngsters who prefer renting reasonably priced accommodation having all the required facilities.
Online Mode Sub-Segment to Observe Accelerated Growth
Among booking mode segment, the online mode sub-segment is expected to observe rapid growth and garner $46.9 million during the forecast period. The growth of this sub-segment is mostly because of the growing use of online apps for booking capsule hotels.
Generation Z Sub-Segment to Witness Improved Growth
Among age group segment, the generation Z sub-segment is projected to observe speedy growth by garnering $69.9 million in the projected period. The growth of this sub-segment is mostly because the generation Z loves to travel solo and explore novel destinations across the globe.
Global Capsule Hotel Market to Have Lucrative Opportunities in the Future with the Rising Demand for Pocket-Friendly Accommodations - Analyst Review by Research Dive
Asia-Pacific Region Market to Lead the Market
The report analyses the global capsule hotel market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia Pacific region market is expected to garner a revenue of $179.1 million during the estimated timeframe. The growth of this region market is mainly because the region has maximum number of capsule hotels in the world.
Prominent Key Players in the Capsule Hotel Market Include -
- Riccarton Capsule Hotel
- THE CAPSULE HOTEL
- InBox Capsule Hotel
- Book and Bed Tokyo
- Urbanpod Hotel
- The Bed KLCC.
- Pangea pod hotel
- FIRST CABIN HD CO., LTD.
- THE POD SYDNEY
- Nonze Hostel Pattaya
- Dream Lodge
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in April 2019, Brown hotel, an Israeli boutique hotel chain, announced to launch a $50 per night capsule hotel in Tel Aviv. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
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