LONDON--(EON: Enhanced Online News)--Technavio market research analysts forecast the global airport sleeping pods market to grow at a CAGR of more than 6% during the forecast period, according to their latest report.
“Airport operators are strategizing to enhance passenger experience at airports by providing value-added services, such as sleeping pods, within the terminal. The airports are providing this option to all segments of customers through cost-effective resting areas.”
The market study covers the present scenario and growth prospects of the global airport sleeping pods market for 2017-2021. The report also lists single-occupancy and shared- occupancy, as the two main application segments, of which the single-occupancy segment accounted for over 62% of the market share in 2016.
According to Avimanyu Basu, a lead analyst at Technavio for aerospace research, “Airport operators are strategizing to enhance passenger experience at airports by providing value-added services, such as sleeping pods, within the terminal. The airports are providing this option to all segments of customers through cost-effective resting areas.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global airport sleeping pods market:
- Growing transit and transfer passenger traffic
- Emergence of smart airport concepts
- Airports offering no frill services to passengers
Growing transit and transfer passenger traffic
The demand for air travel continues to grow supported by low oil prices. The growing aviation industry has enabled airlines to expand the connectivity between places, which has resulted in increasing frequency of flights and addition of new routes. This has concurrently given rise to the demand for luxury travel and desire for comfort through sophisticated services at affordable prices at airports. Therefore, airport operators are focusing on the enhancement of passenger comfort by providing various concessionaire stores and lounge services at airports.
The growing number of transit and transfer passengers traffic is one of the major factors driving the market. Most of the long-haul flights opt for hub and spoke method, where the transition and transfer of passengers take place. Often the tickets with long transit period are offered at a lower price. During the time interval, passengers look for relaxing options such as lounges, hotels, sleeping pods, and motels at airports. However, since most lounges are inaccessible to general passengers and hotels are expensive, passengers explore options such as sleeping pods for rest.
Emergence of smart airport concepts
Considering the increasing deployment of the internet of everything (IoT) enabled intelligent airport infrastructure coupled with the growing investments in technological advancements, International Air Transport Association (IATA) and Airports Council International (ACI) jointly proposed the concept of smart airports. These facilitate a seamless travel comfort to passengers at airports and have the potential to boost the profitability and efficiency of airport operators during volatile economic conditions.
Smart airport terminals are developed around a single, converged IP platform that enables high-speed broadband traffic across the aerodrome. By enabling real-time data exchange and airport-wide integration, the smart airports significantly improve their operational efficiencies, passenger services, and security capabilities. This broadband connectivity is also enabled in sleeping pods.
“The development of smart airports will minimize the risks and limit inconvenience to passengers, thus enabling safer flight and airport operations,” says Avimanyu.
Airports offering no frill services to passengers
The airport operations and airline business models have changed in accordance with the growing global aviation industry. Therefore, both the airport authorities and airlines have been looking for alternative approaches to manage the growing passenger traffic. This has given them the option to create sophisticated new technological products such as sleeping pods to enhance passenger comfort.
This approach allows the airport operators to effectively use the terminal space by significantly providing luxurious comfort to all sets of passengers. Some of the examples of airports offering sleeping pods services are the Toronto Pearson International Airport (Ontario, Canada), London Heathrow Airport (Longford, UK), Singapore Changi Airport (Singapore), Hong Kong International Airport (Hong Kong), and Abu Dhabi International Airport (Abu Dhabi).
Browse Related Reports:
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- Global Smart Airports Market 2015-2019
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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