Capsule Hotel Market Expected to Register a Revenue of $211.7 Million in the 2021-2028 Timeframe, Growing at a Stunning CAGR of 6.0%

The global capsule hotel market is predicted to grow at a tremendous CAGR of 6.0%, thereby garnering a revenue of $211.7 million in the 2021-2028 timeframe.

The global capsule hotel market is expected to grow tremendously by 2028, primarily due to a steady rise in the number of solo travelers. The Asia-Pacific region is expected to be highly profitable during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/8507

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬
𝐃𝐫𝐢𝐯𝐞𝐫𝐬:Over the years, there has been a steady increase in the number of solo travelers across the globe which is expected to be the primary growth driver of the capsule hotel market in the forecast period. Moreover, surging demand for facilities like free wireless internet, complimentary drinks, dining facilities is predicted to propel the market growth.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬: Growing hospitality and tourism industry is predicted to offer numerous growth opportunities to the market in the forecast period. Also, a growing number of global travelers is expected to augment the market's growth rate.

𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬: Growing presence of affordable hotels, however, might restrict the growth of the capsule hotel market.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The capsule hotel market, too, faced a similar fate. In fact, the hotel and tourism sector were one of the worst hit industries due to the lockdowns and travel restrictions. This, ultimately, brought down the growth rate of the market in the pandemic period.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The report has divided the market into certain segments based on traveler, booking mode, age group, and region.

By traveler, the solo sub-segment of the capsule hotel market is expected to hold a dominant market share and register a revenue of $177.4 million by 2028. Increasing trend among youngsters for solo traveling to explore new places is predicted to augment the growth rate of this sub-segment.

By booking mode, the online mode sub-segment is expected to have the highest CAGR and register a revenue of $46.9 million by 2028. The increasing penetration of internet-based services is predicted to augment the growth rate of this sub-segment.

By age group, the generation Z sub-segment is expected to be the most lucrative and register a revenue of $69.9 million by 2028. Increasing tendency among generation Z to travel around the globe to explore new cultures is predicted to augment the growth rate of this sub-segment.

By region, the Asia-Pacific capsule hotel market is projected to be the most profitable and register a revenue of $179.1 million in the analysis timeframe. Growing number of capsule hotels in India, Singapore, and Thailand is expected to be the main factor behind the growth of the market in this region.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/8507

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Some prominent market players of the capsule hotel market are THE CAPSULE HOTEL, FIRST CABIN HD CO., LTD., THE POD SYDNEY, Dream Lodge, Book and Bed Tokyo, Riccarton Capsule Hotel, Lavender, Singapore, Urbanpod Hotel, Pangea pod hotel, InBox Capsule Hotel, The Bed KLCC, and Nonze Hostel Pattaya, among others. These players are formulating numerous business strategies like mergers, acquisitions, and collaborations to get a commanding position in the market.

Finally, this report published by Research Dive, also offers many vital facets of the global market including latest strategic developments, SWOT analysis, financial performance of the key players, and product portfolio.

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𝐌𝐫. 𝐀𝐛𝐡𝐢𝐬𝐡𝐞𝐤 𝐏𝐚𝐥𝐢𝐰𝐚𝐥

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