(MENAFN- PR Newswire)
NEW YORK, July 26, 2024 /PRNewswire/ -- The global
smart bed market size is estimated to grow by USD 1.37 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. Increasing investments in sleep technology is driving market growth, with a trend towards rising adoption of technology-driven devices. However, presence of counterfeit products poses a challenge. Key market players include
Arjo AB, Balluga Ltd., Baxter International Inc., Besco Medical Ltd., Boyd Sleep, CVB Inc., Dires LLC, Eight Sleep Inc., Invacare Corp., IOF srl, Joerns Healthcare LLC, LINET Group SE, PARAMOUNT BED HOLDINGS CO. LTD., ReST, Rize Home, SK Furniture and Decoraters, Sleep Number Corp., Stryker Corp., The Sleep Co., and Ultimate Smart Bed.
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Technavio has announced its latest market research report titled Global smart bed market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Application (Healthcare, Residential, and Hospitality), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) |
| Region Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
| Key companies profiled |
Arjo AB, Balluga Ltd., Baxter International Inc., Besco Medical Ltd., Boyd Sleep, CVB Inc., Dires LLC, Eight Sleep Inc., Invacare Corp., IOF srl, Joerns Healthcare LLC, LINET Group SE, PARAMOUNT BED HOLDINGS CO. LTD., ReST, Rize Home, SK Furniture and Decoraters, Sleep Number Corp., Stryker Corp., The Sleep Co., and Ultimate Smart Bed |
Key Market Trends Fueling Growth
The smart bed market is experiencing significant growth due to the increasing demand for technology-driven sleep solutions. Millennials are leading the adoption of these advanced beds, which offer features like climate control, anti-snoring technology, smart fabric, automatic firmness adjustment, sleep tracking, IoT, and smart home connectivity. Notable market players, such as Stryker, are meeting this demand with innovative products like the ProCuity smart bed. Equipped with embedded sensors and secure connect technology, this bed provides wireless patient monitoring and nursing call system connectivity. The integration of technology in smart beds will continue to drive market growth throughout the forecast period.
The Smart Bed market is experiencing significant growth due to the increasing trend of sleep technology in both residential and commercial sectors. Homeowners seek quality sleep and are investing in smart beds for improved comfort and health benefits. Sleep Number's latest survey reveals that 62% of consumers prefer smart beds with body temperature regulation. State governments and patient care facilities in healthcare are adopting these beds for patient management and recovery. For the hospitality industry, smart beds offer enhanced healthcare experiences for guests. Specialty stores, supermarkets, and even hospitality companies are stocking up on these beds. The young population's focus on lifestyle diseases and cardiovascular disorders drives the demand for smart beds with alarm systems and anti-snoring features. Fully-automatic smart beds with sleep tracking, climate control, and IoT connectivity are popular. Manual and semi-automatic adjustable bases with smart fabric technology are also in demand. The aging population's need for comfort and health benefits fuels the market's growth. Smart home connectivity, home automation systems, and luxury bedding are adding to the market's expansion. Artificial intelligence, machine learning, and big data analytics are being integrated to personalize user experiences. Voice command technology is a game-changer, making these beds more accessible and convenient. Sleep apnea patients benefit from smart beds with alarm systems and climate control. Heart attack survivors can monitor their heart rate and body temperature. The market caters to various needs, from comfort to patient recovery, making it a lucrative investment for businesses.
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Market
Challenges
The smart bed market is experiencing increasing demand and growth, attracting counterfeit manufacturers to enter the global market, particularly in developing countries like India and Indonesia. Counterfeit smart beds, made with inferior materials and less durability, pose a challenge to market vendors. The proliferation of e-commerce facilitates the sale and distribution of these counterfeit products, often indistinguishable from genuine ones. Counterfeit products' affordability makes them popular, negatively impacting vendors' pricing and sales strategies, reducing market shares, and damaging reputations. To counteract this, vendors invest in advertising and promotional campaigns to retain and attract customers, but these efforts come with added costs and reduced profit margins. Counterfeit manufacturers save significantly on production and transportation costs, making their products less expensive than genuine ones. Global vendors aim to penetrate developing markets, where counterfeit products are prevalent, limiting the growth of the global smart bed market. This situation necessitates vendors to lower prices, affecting profitability and sales volume.
The Smart Bed market is experiencing significant growth due to increasing demand for enhanced comfort and health benefits. Commercial purposes, such as patient management and recovery, are driving sales in healthcare settings. Young population's focus on lifestyle and sleep health awareness is also fueling the market. Challenges include delivering optimal user experience, integrating IoT and smart home connectivity, and catering to the needs of the aging population and those with cardiovascular disorders. Smart Beds come in Manual, Semi-automatic, and Fully-automatic versions, offering features like sleep tracking, climate control, and smart fabric technology. Adjustable bases, anti-snoring features, and alarm systems for heart attack prevention are key selling points. Advanced technologies like artificial intelligence, machine learning, and big data analytics enhance personalized sleeping solutions. Voice command and smart home integration are future trends. Hypermarkets and luxury bedding retailers are key distribution channels.
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Segment Overview
This smart bed market report extensively covers market segmentation by
Application
1.1 Healthcare
1.2 Residential
1.3 Hospitality
Distribution Channel
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Healthcare-
The global smart bed market is experiencing growth in the healthcare sector due to the increasing adoption of these beds for enhanced patient management and recovery. Smart beds, which include integrated cardiac monitoring sensors and alert features, are becoming increasingly popular in hospitals due to automation, advanced patient room technology, and compatibility among connected devices. The market's expansion is driven by government investments in hospitals for cutting-edge technologies, the digital revolution in healthcare, and the rising prevalence of cardiovascular issues. For instance, Stryker's S3 bed offers conditional safety elements and a three-zone bed alert feature. The demand for smart beds is expected to continue growing as patients seek advanced healthcare facilities and the healthcare industry evolves.
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Learn and explore more about Technavio's in-depth research reports
The global mattress market is experiencing robust growth, driven by increasing consumer demand for comfort and health benefits. The smart mattress market is expanding rapidly, fueled by advancements in technology and rising interest in sleep optimization. Meanwhile, the adjustable bed base and bed set market is gaining traction due to the growing trend of customizable sleep solutions and ergonomic designs. Together, these segments reflect a dynamic shift in consumer preferences towards enhanced sleep experiences and innovative bedding solutions.
Research Analysis
The smart bed market is experiencing significant growth due to the integration of sleep technology into the realm of smart homes. These advanced beds prioritize quality sleep for homeowners and offer various features to enhance comfort and user experience. Some of these features include body temperature regulation, sleep tracking, climate control, and adjustable bases. The healthcare sector, including patient care facilities, is also embracing smart beds for patient management and recovery, leading to enhanced healthcare and improved patient outcomes. The young population is also showing interest in these beds for their health benefits, such as reducing cardiovascular disorders and aiding in the treatment of sleep apnea. Smart fabric technology, IoT, and home automation systems are also contributing to the market's expansion. The alarm feature ensures a peaceful wake-up experience, making these beds an attractive investment for both residential and commercial purposes.
Market Research Overview
The Smart Bed market is experiencing significant growth as sleep technology integrates with smart homes to prioritize quality sleep for homeowners. Sleep tracking, climate control, and adjustable bases are key features, with manual, semi-automatic, and fully-automatic options available. Smart fabric technology and IoT integration enhance comfort and user experience. Sleep apnea, heart attack alarms, and anti-snoring features cater to various health conditions. State governments and healthcare facilities utilize these beds for patient management and recovery, while residential and commercial purposes expand the market reach. The young population and aging population, with their respective lifestyle diseases, also contribute to the demand. Personalized sleeping solutions, adjustable firmness, temperature control, and connected devices offer health benefits beyond mere comfort. Luxury bedding and smart home integration further elevate the market, with voice command and big data analytics adding to the technological advancements.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Healthcare
Residential
Hospitality
Distribution Channel
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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