Global Nap Capsules Market is expected to reach USD 255.4 Million by 2026 at a CAGR of 6.04% during the forecast period of 2019 to 2026.
Compact nap capsules are ideal for small rooms. These pods offer benefits such as reduced space consumption, customization, portable, and assist in improving employee productivity as these capsules can also be installed in office areas.
The Global Nap Capsules Market has been segmented based on Product Type, Industry, and Channel.
Based on Product Type, the nap capsules market has been segmented into compact nap capsule, single nap capsule, double nap capsule, and multiple nap capsule. The single nap capsule segment dominated the market with a valuation of USD 79 million in 2018 and is expected to reach USD 122.4 million by 2026. Single nap capsules are for individual users. They offer benefits such as privacy, built-in speakers, and comfort. The growing adoption of single nap capsules at airports is also expected to drive the growth of the segment.
Based on Industry, the global nap capsules market has been classified as hospitals, corporate offices, airports, and academic institutes. The airport segment is expected to exhibit the highest CAGR of 4.72% during the forecast period. The increasing air passenger traffic and development of smart airports are the key factors driving the growth of this segment. Furthermore, the rising number of capsule hotels at airports and the increasing demand for waiting rooms at airports is also expected to increase the adoption of nap capsules at airports.
By Platform, the global nap capsules market has been divided into direct sales and distributor. The distributor segment is expected to register a higher CAGR of 5.61% during the forecast period. Distributors are agents who supply goods to the retailers. Distributors offer benefits such as enhanced customer service, reduced transportation costs, established customer base, and wide reach. These benefits enable nap capsule manufacturers to offer their products in different areas with reduced transportation costs.
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The geographic analysis of the global nap capsules market covers North America, Europe and the Middle East & Africa (EMEA), Asia-Pacific, and South America.
North America led the market with a valuation of USD 70.1 million in 2018, and the regional market is expected to reach USD 105.3 million by 2026 at a CAGR of 5.20% during the forecast period. This can be attributed to the presence of major manufacturers such as GoSleep and Minute Suites, LLC, in the region.
EMEA was the second-largest market with a valuation of USD 50 million in 2018; the EMEA market is projected to exceed USD 80.4 million by 2026 at a 6.13% CAGR. Market growth in the region is driven by an increase in the development of smart airports along with the increasing air passenger traffic.
The Key Players operating in the Global Nap Capsules Market are GoSleep (Finland), napcabs GmbH (Germany), The SnoozeCube (New Zealand), MinuteSuites (US), 9 Hours (Japan), Sleepbox (US), and MetroNaps (Denmark).