Smart Bed Market to Record an Exponential CAGR by 2028

Report Description

A recent market intelligence report that is published by Data Insights Partner on the global Smart Bed Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Smart Bed Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Smart Bed Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Smart Bed Market is offered. In accordance with the report, the global Smart Bed Market is projected to expand by healthy CAGR over the period of forecast.

Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:

Definition

Smart beds are bed that provide benefit beyond its traditional functionality. These beds are incorporated with smart technologies like smart home connectivity, Internet of Things, anti-snoring features, adjustable bases, smart fabric technology, climate control, automatic adjustment of mattress firmness features, biometric sensors, and sleep tracking devices aimed at monitoring human behavior during sleeping or while undergoing treatment in the hospitals.

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Market Drivers

The growing application of technological advancement in the healthcare sector is primarily driving the smart bed market. The utilization of smart bed in hospitals are aimed towards improvising the healthcare services provided to patients and to provide intensive care to the same. Smart beds are implanted with cardiac monitoring devices and sensors that can give provide real-time warning in case of cardiac arrest. The rising events of cardiovascular disorders are providing the initial impetus to this market. Further, the soaring investment on the healthcare sector for the equipment of hospitals and clinics with advanced technical machinery is a determining factor.

The stressful life of the population and their rising health awareness is compelling them to adopt smart bed for better sleep on a daily basis and managing human behavior during sleeping hours. Quality sleep leads to healthy human body and also improves concentration and productivity of the user. Smart beds are incorporated with sleep tracking sensors, temperature management tools and other devices that keeps track of human health during the sleep hours.

Surging youth population and their health awareness is one factor fueling the growth of this market. The soaring purchasing power of the consumers and their adoption of luxury and comfort is charging up the growth of the smart bed market.

The growing adoption of sustainable and ‘smart’ projects like smart city, smart home, smart devices and many more is indirectly accelerating the smart bed market.

Market Restraints

The production of smart beds requires advanced technology and skilled resources. The acute paucity of expertise and skill involvement in the production of smart beds is negatively affecting the smart beds market.

Smart beds are not so vigorously purchased and sold by retail stores. The lack of availability with regard to these products are hampering the growth of this market.

The quantities manufactured of smart beds are very low and hence the economies of large-scale production cannot be enjoyed which is straining the growth prospects of this market. Further, the cost associated with the production of these products is immoderate owing to the incorporation of automation devices, smart sensors, real time tracking systems, artificial intelligence and many more.

Opportunities

The growing population coupled with the increasing proportion of the population suffering from chronic diseases is expected to result in their dependence on the healthcare infrastructure which is a lucrative opportunity for widening this market.

Moreover, the development of healthcare infrastructure complementary to the rapidly advancing technology and its application on the healthcare sectors is a good set of circumstances for kickstart operation in this market.

Trends

At present North America dominates the market for smart beds and is expected to continue its leadership in the forecast period. This progress can be traced back to the increasing penetration of internet and smart phones in this region, soaring mobile cellular subscription, skyrocketing population suffering from sleeping disorders like insomnia, obstructive sleep apnea and many more. The Asia Pacific region is projected to be the fastest growing market in the forecast period. This progress can be attributable to the presence of China in this region because it is undergoing home improvement projects as a result of rapid urbanization and growing disposable income of the population of China. Moreover, the presence of technologically advanced nations like India, Japan, South Korea, Singapore and China and their introduction of advanced technology for automation of activities is a determining factor for the rapid growth of smart beds market in the Asia Pacific Region during the forecast period.

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Segment Covered:

This market intelligence report on the global Smart Bed Market encompasses market segments based on product type, distributional channel end user and country.

           By Product Type the global Smart Bed Market has been divided into:

 

q  Fully-Automatic

q  Semi-Automatic

q  Manual

 

           By Distributional Channel the global Smart Bed Market has been divided into:

 

q  Online Stores

q  Specialty Stores

q  Supermarkets/Hypermarkets

q  Others

            By End User the global Smart Bed Market has been divided into:

 

q  Residential

q  Hospital

q  Others

 

             By country/region, the global Smart Bed Market has been divided into:

 

q  North America (the U.S., Canada),

q  Latin America (Brazil, Mexico, Argentina and other countries),

q  Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),

q  Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),

q  Middle East and Africa (GCC, South Africa, Israel and Other countries).

Profiling of Market Players:

This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:

q  Eight Sleep

q  Ford Motor Company

q  Sleep Number Corporation

q  ReST

q  Stryker Corporation

q  The BodiTrak

q  Invacare Corporation

q  PARAMOUNT BED CO., LTD

q  Ultimate Smart Bed

q  Ascion, LLC

others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Smart Bed Market related investment & spending and developments by major players of the market are tracked in this global report.

 

Report Highlights:

In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.

Few Recent Developments

Eight Sleep

In February 2019, a brand new biometric based monitoring smart bed was launched by Eight Sleep.

 

Ford Motor Company

 

In February 2019, a smart bed prototype has been introduced by Ford Motor Company. In order to emit the happening of co-sleeping problems, this prototype uses a conveyor belt technology. Such introduction was a part of Ford Interventions.

Sleep Number

In August 2018, a new store was opened by Sleep Number in the Flatiron district. A digital map showing the sleep performance of New Yorkers is a chief part of the store experience.

Salient Features:

Ø This study offers comprehensive yet detailed analysis of the Smart Bed Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year

Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market

Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook

Ø Profiling of key market players in the world Smart Bed Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview

Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation

Ø The world market for Smart Bed caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Smart Bed Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants

Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports

Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation

Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion

Reasons to buy:

v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Smart Bed Market

v Identification of key factors driving investment opportunities in the Smart Bed Market

v Facilitate decision-making based on strong historic and forecast data

v Position yourself to gain the maximum advantage of the industry’s growth potential

v Develop strategies based on the latest regulatory events

v Identify key partners and business development avenues

v Respond to your competitors’ business structure, strategy and prospects

v Identify key strengths and weaknesses of important market participants

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