The new report by Expert Market Research titled, ‘Nap Pod Market Price, Share, Size, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the Nap Pod Market, assessing the market based on its segments like type of the product, end use and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.5 %.
The airport segment has a large share of the market based on end-use. This can be due to the increasing adoption of nap pods as ‘pay-as-you-go’ sleeping spaces in airports to enable passengers to rest between flights. Meanwhile, the corporate office segment is expected to make a major contribution to the growth of the industry over the forecast period, due to an increasing awareness of the benefits of power naps and an improvement in the productivity of a person. In addition, a growing emphasis on human welfare is expected to result in increased demand for nap pods from different industries.
Industry Definition and Major Segments
Nap pod refers to a specially built chair or cubicle that allows people to take a quick nap, typically at workstations, corporate offices, and others. These gadgets enable workers, students or passengers at the airport to take a short nap of 15 to 20 minutes in an efficient and easy way. As power naps help to increase the alertness and efficiency of a person, nap pod is also referred to as an energy pod or nap capsule. Nowadays, they also come with advanced features such as light effects and others, thus improving their performance.
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Based on product type, the market can be divided into the following:
Based on the end use, the market can be classified into the following sectors:
• Corporate Office
The regional markets for Wearable Technology include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Growing awareness of the benefits of nap pod is a key driver of the growth of the industry. The growing emphasis of MNCs on the health and talent retention of employees is helping the growth of the industry. This leads to increased use of nap pods at work in order to boost the efficiency and alertness of an individual. Furthermore, the replacement of the public service model with the commercial business model in the aviation industry is also driving the growth of the industry. Other sectors, such as health and academia, are also expected to generate significant demand for the product during the forecast period. Factors such as improving living standards and increasing emphasis on health and wellbeing are also contributing to the growth of the industry. Growing investments by manufacturers to launch enhanced products with advanced features such as timers, speakers, lighting effects and others are expected to further fuel market growth over the forecast period.
Key Market Players
The major players in the market are GoSleep, MetroNaps, Minute Suites LLC., Sleepbox, SAMS Snooze at My Space, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.