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Capsule Hotel Market Outlook 2023-2028:

The global capsule hotel market size reached US$ 97.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 309.9 Million by 2028, exhibiting a growth rate (CAGR) of 10.2% during 2023-2028.

Capsule Hotel or pod hotel is a compact, unique accommodation facility usually found near major train stations in large cities for individuals looking for single-night and low-budget stays. They provide bedsized rooms or sleeping cabins known as capsules with basic amenities such as single or double beds, charging sockets, Wi-Fi, alarm clocks, locker facilities, air conditioning units, and common washrooms. These capsules are typically arranged in rows or double stacked, found within larger hotels, and can be booked through offline or online channels. In addition, they also offer privacy, safety, comfort, and convenience. Owing to these benefits, capsule hotels are gaining immense popularity among office workers and travelers.

Capsule Hotel Market Trends:

The market is primarily driven by the expanding travel and tourism industry across the globe. In addition, the increasing inclination of solo travelers toward capsule hotel stays due to their benefits, such as cost-efficiency, privacy, and availability of spacious common areas, luxurious lounges, saunas, and theatre rooms, are contributing to the market growth.

Moreover, the introduction of smartphone applications to access personal capsules and smart pods and the integration of artificial intelligence (AI) to monitor health and predict the food preferences of guests represents another major growth-inducing factor. These technologies also provide soundless alarm systems that raise sleeping guests into a seated position while brightening the ambient lights across the pod.

Furthermore, the rising disposable income of consumers and the implementation of numerous government initiatives to encourage travel and tourism activities are also creating a positive market outlook. Request for a free sample report: https://www.imarcgroup.com/capsule-hotel-market/requestsample