Market Trends of Airport Sleeping Pods Industry
The International Airport Segment Holds the Highest Market Share
- The international airport segment is anticipated to show significant growth in the market during the forecast period. The growth is attributed to the increasing number of air passengers and rising expenditure expansion of existing airports. Miami International Airport, Narita International Airport, Istanbul Airport, Chongqing Jiangbei International Airport, Beijing Airport, Dubai Airport, Delhi and Mumbai Airport, Atlanta Airport, Heathrow Airport, King Abdul Aziz International Airport, and Singapore Changi Airport are some of the airports that serve more than 40 million passengers, annually.
- The demand for airport pods is created by passengers traveling internationally who opt for layover flights due to lower prices than direct flights. For instance, in January 2022, Vienna Airport installed rentable sleeping pods on Level 2 of Terminal 3 from Italian startup Zzzleepandgo. The smart lounges provide a place for passengers to work, rest, or stay overnight.
- Airports are increasingly focusing on enhancing passenger experience, and sleeping pods provide such travelers with a comfortable and private place to rest during layovers or long delays. Therefore, the demand for passenger comfort and convenience is one of the major factors driving the market.
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Asia-Pacific to Lead the Market
- The Asia-Pacific region would experience significant growth due to robust investments in constructing new airports and expanding existing airports. Over the past few years, there has been a rapid increase in passenger traffic handled by airports in countries like China, India, Japan, and South Korea, among others.
- Due to this, the government and airport authorities in the region have announced significant investments in the construction and expansion of airports. For instance, in April 2022, the Ministry of Land, Infrastructure, and Transport of South Korea announced its plans to invest KRW 13.7 trillion (USD 10.97 billion) in constructing a new airport on Gadeok Island. The airport is expected to be an offshore airport (built on a floating structure at sea) and will cater to the growing air traffic demand in the country's southeast region.
- Similarly, in February 2022, Adani Airport Holdings, a subsidiary of the Adani Group and the Airports Authority of India, was constructing an airport in Navi Mumbai, Maharashtra, India, for USD 2.3 billion. The new airport would be one of the world’s few "greenfield" international state-of-the-art airports, contributing world-class facilities. It will have the capacity to handle 60 million passengers a year by 2030 when it reaches full capacity. Such modernization of airport infrastructure with advanced airport solutions is expected to accelerate market growth in this region during the forecast period.
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