(MENAFN- Alliance News) The smart bed market is experiencing significant growth, driven by the integration of sensors and technologies in beds, which provide information about sleep quality and help individuals improve their sleep. These smart beds often come with built-in features such as TVs and alarms, and there are even smart bed sheets that adjust to changing weather conditions during the night. Various factors are contributing to the growth of the smart bed market, including increased preference among athletes, a rising elderly population, a higher incidence of diseases, and the widespread adoption of the Internet of Things (IoT) technology in this sector.
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Market Growth and Challenges
However, the high costs associated with purchasing and maintaining smart beds can be considered a constraint to market growth. Despite this challenge, the smart bed market is predicted to grow at a CAGR of 11.6% during the forecast period, with an expected market size of $7,735 million in 2026, up from $4,003 million in 2020.
Smart Bed Market SegmentationProduct Segmentation
The smart bed market is segmented based on product types into three categories:
1. Manual 2. Semi-automatic 3. Fully-automatic Among these, the semi-automatic smart bed segment is estimated to have the largest demand share, particularly in hospitals and homecare settings for patients, as these beds can be adjusted for both eating and sleeping.
End-user Segmentation
The market is further segmented based on end-users, with a focus on where smart beds are most commonly used:
1. Residential 2. Hospital 3. Other End Users Hospitals play a major role in market growth, utilizing smart beds for effective patient monitoring and management. Advancements in smart bed technology are enhancing the market within the end-user segment.
Distribution Channel
The distribution channel market segment is divided into four categories:
1. Supermarkets 2. Specialty Stores 3. Online 4. Other Distribution Channels Online distribution channels have the largest share, attributed to the growing adoption of e-commerce and favorable online purchase discounts.
Geographical Analysis
The markets geographical analysis highlights key regions:
1. North America 2.
Europe 3. Asia Pacific 4. Rest of the World North America is expected to dominate the market share due to the growing adoption of advanced healthcare technology, rising disease incidence, and an increasing elderly population. The Asia Pacific region is also poised to become a lucrative market, with innovative manufacturers in countries such as China, Korea, and Japan.
Drivers of Smart Bed Market Growth
Smart beds are predominantly used in the medical sector for effective patient monitoring. Several factors drive market growth, including:
Increasing disease rates leading to more patients Growing investments in healthcare facilities Athletes preference for smart beds for self-monitoring Technological advancements in smart bed manufacturing
Major Players
Key players in the smart bed market include:
Stryker Corporation Responsive Surface Technology Paramount Bed Co BodiTrak ArjoHuntleigh AB Sleepnumber Invacare Corporation Hi-Interiors SRL BAM Labs and Balluga Limited Hill Rom Holdings Inc.
Market Trends and Opportunities
The smart bed market continues to expand globally, particularly in emerging regions, where comfort and health preferences are driving adoption. Ongoing technological improvements in smart bed manufacturing are solidifying market growth. This report provides comprehensive analysis of market trends, opportunities, product innovation, and investments in research and development.
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Report Ocean is a leading provider of market research reports known for delivering informative research findings. They offer both quantitative and qualitative research results, utilizing the latest technology and analysis tools. Their global network and industry expertise enable them to provide valuable insights for informed and strategic business decisions. Report Ocean supports research and development efforts in the smart bed market, aiding in innovative product development and global market analysis.
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