Global Sleeping Pods Market

Sleeping Pods Market Size, Share, Growth Analysis, By Module(Compact Sleeping Pod, Single Sleeping Pod, Double Sleeping Pod, Multiple Sleeping Pod), By Application(Hospitals, Corporate offices, Airport, Academics), By End User(Children, Adults), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2847 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 92 | Figures: 76

Sleeping Pods Market Dynamics

Sleeping Pods Market Driver

Increasing Popularity of Powernaps to Bolster Sleeping Pods Market

Technology is advancing at an increasing pace and there are more people than ever encouraging these advancements. Sleep science has become increasingly popular the last decade and nowadays people are waking up to the idea of power naps as a way to refresh their minds and bodies. It's no surprise that sleeping pods have become so popular for taking powernap, because they offer workers a break from the rigors of their daily schedule. This, in turn, is benefiting the employers in terms of higher productivity, lower attrition rate, and more happy faces.

Apart from this, the aviation industry is a contributing a huge revenue to the global sleeping pod market as a replacement of the public utility model with a commercial business model. Other industries, such as health and education are also expected to generate a significant demand for the product during the forecast period.

Growing Investments by Manufacturers to Develop Improved Products

Since the inception of sleeping pods in the early 2000s, sleep innovation has seen significant growth. This recent development is most evident with the increase in investments by manufacturers to improve these pods. As a result, the market is seeing rapid growth, giving companies an advantage over their competitors. Improved sleeping pods are not only more comfortable but also more efficient and practical.

Manufacturers' increasing investments to develop & launch improved products with advanced features such as timers, speakers, light effects, and others are expected to drive sleeping pods market growth over the forecast period. In Jan 2022, India-based start-up Urban Naps Pods launched Smart Pods with back and shoulder massager, oxygen therapy, meditation music, ventilated seat, and zero gravity seat.

Sleeping Pods Market Restraint

High Cost of Sleeping Pods

  • The higher price of the sleeping pod, as well as the limited number of manufacturing players, may stifle demand and limit the global market growth. Today, the average cost of sleeping is between $8,000 and $12,000. The price is exorbitant and out of reach for most people and potential buyers. As a result, the majority of the demand for sleeping pods comes from businesses, corporate offices, luxury hotels, airports, and recreational facilities.
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FAQs

Sleeping Pods Market size was valued at USD  1.83 Billion in 2019 and is poised to grow from USD 2.02 billion in 2023 to USD 4.49 billion by 2031, at a CAGR of 10.50% during the forecast period (2024-2031).

sleeping pods market is at the nascent stage, but becoming increasingly competitive as more and more companies enter the market. This is because their benefits are becoming more widely known and they are seen as a valuable addition to any workplace. 'GoSleep', 'NapCabs GmbH ', 'AirPods Sleeping Pod', 'SnoozeCube Sleeping Pods', 'Sleepbox Sleeping Pods', 'Minute Suites Sleeping Pods', 'Yotel Sleeping Pods', 'Podtime Sleeping Pods', 'Jetquay Sleeping Pods', 'MetroNaps Sleeping Pods', 'Dream and Fly Sleeping Pods', 'SNOOZE at Hotel Jen Sleeping Pods', 'Sleep'nFly Sleeping Pods', 'Snooze KLIA Sleeping Pods', 'Sleep Lounge Sleeping Pods', 'Sleepy Panda Sleeping Pods', 'Cabinpod Sleeping Pods', 'ZZZleepandGo Sleeping Pods', 'Sleep Green Certified Sleeping Pods', 'Zzzleepy Sleeping Pods'

The higher price of the sleeping pod, as well as the limited number of manufacturing players, may stifle demand and limit the market growth. Today, the average cost of sleeping is between $8,000 and $12,000. The price is exorbitant and out of reach for most people and potential buyers. As a result, the majority of the demand for sleeping pods comes from businesses, corporate offices, luxury hotels, airports, and recreational facilities.

Innovative product launches with new features such as oxygen therapy, meditation music, ventilated seat, and zero gravity seat to spur growth of the market.

In 2021, North America dominated the sleeping pods market and is expected to do so during the forecast period. This is due to the region's early access to advanced technologies, increased awareness of nap pods, and high consumer disposable incomes. In 2021, US airlines carried 674 million passengers (not seasonally adjusted), an increase of 82.5% over 2020. (369 million, unadjusted). In the US, the cost of a one-hour stay is $42. (Which is the minimum). If guests need more sleep (more than eight hours), they can rent a pod for around $155.

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Global Sleeping Pods Market

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