Smart Sleep Tracking Products Market Segmentation by Product (Smart Pillows, Under Mattress Embedded Sensors, Smart Mattress, Strip Based Sleep Trackers, Bedside Sleep Trackers, Wearable Sleep Trackers); by Connectivity (Wi-Fi, and Bluetooth Connected); by Price Range (Economy, Medium, and Premium); by End-User (Homecare, Healthcare Facilities, and Rehabilitation & Long-Term Care Providers); and by Distribution Channel (Online, and Offline)-Global Demand Analysis & Opportunity Outlook 2019-2028
2 May 2022
Healthcare & Pharmaceuticals
Impact Analysis on the Growth of Market
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Global Smart Sleep Tracking Products Market Highlights Over 2019 - 2028
The global smart sleep tracking products market is estimated to garner a revenue of USD 11234.55 Million by the end of 2028 by growing at a CAGR of 17.50% over the forecast period, i.e., 2020 – 2028. Moreover, in the year 2019, the market generated a revenue of USD 2631.57 Million. The growth of the market can be attributed to the growing number of sleep-related disorders and the rising awareness amongst individuals for the need for proper sleep. For instance, it has been studied that around 40% of single parents sleep less than 7 hours per night when compared to about 30% of adults with no children and about 35% of adults in 2-parent homes. Additionally, about 30% of working adults stated that they slept less than 6 hours per night during 2017-18. This share was an increase from approximately 27% during 2008-09. Further, between 30% and 50% of geriatric adults are known to suffer from insomnia.
The growth of the market can also be attributed to the rising aging population around the globe, surge in personal disposable income of individuals, growing research and development in the field of smart wearables, along with the surge in the number of users using the internet. According to the statistics by the International Telecommunication Union (ITU), the number of individuals using the internet increased from 1.0 Billion in the year 2005 to 4.9 Billion in the year 2021.
Individuals Using the Internet (in Billion), World, 2005-2021
Global Smart Sleep Tracking Products Market Regional Synopsis
Regionally, the global smart sleep tracking products market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to garner the largest revenue of USD 4505.06 Million by the end of 2028, up from a revenue of USD 1008.01 Million in the year 2019. The growth of the market in the region can primarily be attributed to the growing prevalence of sleep-related disorders in the region, especially in the United States. According to the statistics by the American Sleep Association (ASA), 50-70 Million adults in the United States are known to have a sleep disorder. Moreover, the statistics also stated that the prevalence of obstructive sleep apnea among the adults in the U.S. was 25 Million.
On the other hand, the market in Europe is projected to garner the second-largest revenue of USD 3297.34 Million by the end of 2028, up from a revenue of USD 785.70 Million in the year 2019. The market in the region is further segmented by country into Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe. The market in the United Kingdom is projected to garner the largest revenue of USD 675.95 Million by the end of 2028, up from a revenue of USD 136.45 Million in the year 2019.
Growth Drivers and Challenges Impacting the Growth of the Global Smart Sleep Tracking Products Market
Growing Number of Sleep Related Disorders
Rising Aging Population Across the World
Significant Growth of Personal Disposable Income
Rise in Research & Development Activities Related to Smart Wearables
Surge in concern for Counterfeit Products
High Price of Smart Wearables
Global Smart Sleep Tracking Products Market Segmentation Synopsis
The global smart sleep tracking products market is segmented by product into smart pillows, under mattress embedded sensors, smart mattress, strip based sleep trackers, bedside sleep trackers, and wearable sleep trackers. Out of these, the wearable sleep trackers segment is projected to garner the largest revenue of USD 5175.76 Million by the end of 2028, up from a revenue of USD 1165.08 Million in the year 2019. By connectivity, the market is segmented into Wi-Fi connected and Bluetooth connected, out of which, the Wi-Fi connected segment is projected to grow with the highest CAGR of 18.16% during the forecast period. By price range, the market is segmented into economy, medium, and premium. Out of these, the medium segment is projected to garner the largest revenue of USD 5729.62 Million by the end of 2028, up from a revenue of USD 1253.62 Million in the year 2019. By end-user, the market is segmented into homecare, healthcare facilities, and rehabilitation & long-term care providers. Out of these, the homecare segment is projected to garner the largest revenue of USD 5729.62 Million by the end of 2028, up from a revenue of USD 1224.27 Million in the year 2019. By distribution channel, the market is segmented into online, and offline. Out of these, the online segment is anticipated to garner the highest market share by the end of 2028 and also grow with the highest CAGR of 18.48% during the forecast period.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global smart sleep tracking products market that are included in our report are Withings SA, Apple Inc., Fitbit Inc., Koninklijke Philips N.V., Sleep Number Corporation, SAMSUNG, URGOTECH, Nokia Corporation, and others.
Latest Developments in the Global Smart Sleep Tracking Products Market:
October 12th, 2021: Withings SA announced that it has received clearance from the FDA for its most advanced hybrid smartwatch, ScanWatch. The smartwatch, which uses state-of-the-art technology, performs general wellness functions, such as monitoring sleep quality, physical activity, and checking heart rate, and also can detect atrial fibrillation through ECG and blood oxygen levels through SpO2.
March 1st, 2022: Sleep Number Corporation announced the launch of its new 360 smart bed at CES 2022. The new smart bed is designed to proactively monitor and improve an individuals sleep and health over time.
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
The growing number of sleep related disorders, rising aging population across the world, and the significant growth of personal disposable income are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 17.50% over the forecast period, i.e., 2020 – 2028.
The surge in concern for counterfeit products, along with the high price of smart wearables are estimated to hamper the market growth.
Which region will provide more business opportunities for growth of smart sleep tracking products market in future?
The market in North America is anticipated to garner the largest revenue of USD 4505.06 Million by the end of 2028 is expected to provide more business opportunities.
The major players in the market are Withings SA, Apple Inc., Fitbit Inc., Koninklijke Philips N.V., Sleep Number Corporation, SAMSUNG, URGOTECH, Nokia Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, connectivity, price range, end-user, distribution channel, and by region.
Which segment captures the largest market size in product segment in the smart sleep tracking products market?
The wearable sleep trackers segment is projected to garner the largest revenue of USD 5175.76 Million by the end of 2028 and display significant growth opportunities.
1. Market Definition and Research Methodology
1.1. Market Definition
2. Executive Summary
3. Market Dynamics
4. Industry Analysis
4.1.Impact of COVID-19 on the Market
4.2. Consumer Behavior Analysis
4.3. End User Analysis
4.4. Pricing Analysis
5. Global Smart Sleep Tracking Products Market
5.1. Market Overview – Value & Volume Sales (2019-2028)
5.2. Market Segmentation by:
188.8.131.52. Smart Pillow
184.108.40.206. Under Mattress Sensor
220.127.116.11. Smart Mattress
18.104.22.168. Strip Based Sleep Tracker
22.214.171.124. Bed Side Tracker
126.96.36.199.1. Smart Watch
188.8.131.52.3. Head Band
184.108.40.206. Wi-Fi Connected
220.127.116.11. Bluetooth Connected
5.2.3. Pricing Range
18.104.22.168. Healthcare Facilities
22.214.171.124. Rehabilitation & Long-Term Care Providers
5.2.5. Distribution Channel
126.96.36.199.2. Specialty Stores
188.8.131.52.3. Retail Stores
184.108.40.206. North America
220.127.116.11. Asia Pacific
18.104.22.168. Latin America
22.214.171.124. Middle East & Africa
6. North America Smart Sleep Tracking Products Market
6.1.Market Overview – Value & Volume Sales (2019-2028)
6.2. Market Segmentation by:
126.96.36.199. Smart Pillow
188.8.131.52. Under Mattress Sensor
184.108.40.206. Smart Mattress
220.127.116.11. Strip Based Sleep Tracker
18.104.22.168. Bed Side Tracker
22.214.171.124.1. Smart Watch
126.96.36.199.3. Head Band
188.8.131.52. Wi-Fi Connected
184.108.40.206. Bluetooth Connected
6.2.3. Pricing Range
220.127.116.11. Healthcare Facilities
18.104.22.168. Rehabilitation & Long-Term Care Providers
6.2.5. Distribution Channel
22.214.171.124.2. Specialty Stores
126.96.36.199.3. Retail Stores
188.8.131.52. United States
7. Europe Smart Sleep Tracking Products Market
7.1. Market Overview – Value & Volume Sales (2019-2028)
7.2. Market Segmentation by:
7.2.3. Pricing Range
7.2.5. Distribution Channel
184.108.40.206. United Kingdom
220.127.116.11. Rest of Europe
8. Asia Pacific Smart Sleep Tracking Products Market
8.1.Market Overview – Value & Volume Sales (2019-2028)
8.2. Market Segmentation by:
8.2.3. Pricing Range
8.2.5. Distribution Channel
18.104.22.168. South Korea
22.214.171.124. Rest of APAC
9. Latin America Smart Sleep Tracking Products Market
9.1.Market Overview – Value & Volume Sales (2019-2028)
9.2. Market Segmentation by:
9.2.3. Pricing Range
9.2.5. Distribution Channel
126.96.36.199. Rest of Latin America
10. Middle East & Africa Smart Sleep Tracking Products Market
10.1. Market Overview – Value & Volume Sales (2019-2028)
10.2. Market Segmentation by:
10.2.3. Pricing Range
10.2.5. Distribution Channel
10.2.6.2. Saudi Arabia
10.2.6.4. South Africa
10.2.6.5. Rest of MEA
11. Competitive Landscape
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- Withings SA
- Apple Inc.
- Fitbit Inc.
- Koninklijke Philips N.V.
- Sleep Number Corporation
- Nokia Corporation