AIRPORT SLEEPING PODS MARKET ANALYSIS

Regional Analysis

North America airport sleeping pods market is projected to retain its dominance in the global airport sleeping pods market.

On the basis of region, the global airport sleeping pods market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to be a leading region in the global airport sleeping pods market in 2018, in terms of market share and is projected to retain its dominance during the forecast period. In addition, the rising numbers of air passengers plays a key role for growth of the global airport sleeping pods market. According to Federal Aviation Administration Aerospace forecast, in 2017, around 229 million passengers are estimated to travel by flight in the U.S., up from 218 million passengers in 2016. Moreover, large number of airports in the U.S. have also accelerated adoption of this product. According to the United States Department of Transportation, in 2016, the number of airports in the U.S. was around 19,536 airports.

Asia Pacific market is projected to register the highest growth rate over the forecast period, with India, China, and Japan being the major growth engines. Rising smart city projects, and increasing number of aero plane passengers in emerging economies are some of the major factors driving growth of the market in Asia Pacific. According to Directorate General of Civil Aviation (DGCA) India, in January 2018, the India’s domestic air traffic nearly doubled to 117 million passengers in 2017 with 100 flights taking off every hour compared with 67 in 2011. In addition to this, India’s airlines flew 117.18 million passengers in 2017 compared with 59.87 million in 2011. Moreover, increasing travel and tourism industry in Asia Pacific further fuels demand for capsules hotels at airports, which fuels growth of the sleeping pods market in this region. According to India Brand Equity Foundation, direct contribution of tourism and hospitality industry to GDP is US$ 72 Billion in 2016 and is projected to reach US$ 178 Billion by 2027.