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

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.