Global Smart Beds Market, By Product Type (Manual, Semi-Automatic, Fully Automatic), By End User (Residential, Healthcare, Hospitality, Transportation, Others), By Distribution Channel (Offline, Online), Estimation & Forecast, 2017 - 2027

Global Smart Beds Market is Projected to Grow at a CAGR of 8.7% During the Forecast Period Till 2027

The global Smart Beds market held a market value of USD 4,941.1 Million in 2020 and is estimated to reach USD 8,859.9 Million by the year 2027. The market is anticipated to register a CAGR of 8.7% during the forecast period.

Smart Beds is utilizes sensors and other such technologies to gather data regarding a person’s sleep. The market is majorly driven by the increasing adoption of smart & advanced technology and increasing demand of senior citizen’s health care needs. Furthermore, change in product preference & rising demand for luxury, comfort, and personalized experience and growing awareness related to importance of good sleep, are the factors contributing to the market growth. Other significant driving factors include increasing penetration of smart homes along with the increasing commercialization.

Growth Influencers:

Increasing adoption of smart and advanced technology

Currently, growing adoption of technology driven devices, which offer valuable information regarding a person’s well being is fuelling the smart beds market. The smart beds combine technologically advanced features include automatic mattress firmness adjustment, sleep tracking, climate control, adjustable bases, fabric technology, smart home connectivity, and anti-snoring feature. Therefore, rising adoption of smart and advanced technology is expected to drive the market growth.

Increasing demand of smart beds for senior citizen’s healthcare needs

Smart beds are connected with the EMRs that offer a range of medical data, including personal statistics, such as weight, heartbeat, blood, temperature, and other such vital signs. This data can be used by doctors to determine the course of action, especially for senior citizens, at the time of an emergency situation.

Change in product preferences and rising demand for luxury, comfort, and personalized experience

With the changing lifestyle, the demand for luxury, comfort, and personalized experience is also increasing. There is a high demand amongst people who like technologically advanced products. This factor is expected to boost the demand for smart beds, which offer luxury, comfort, and personalized experience.

Increasing awareness related to importance of good sleep

People are getting more and more aware regarding the ill effects of having less than the required amount of sleep and the benefits of having a good sleep. Smart beds have advanced features, which can assist its users to have a good sleep, which is expected to boost the market growth.

Segments Overview:

The global Smart Beds market is segmented into product type, end user, and distribution channel.

By product type

• Manual
• Semi-Automatic
• Fully Automatic

The semi-automatic segment accounts for the largest share of more than 35% due to the technological advancements by market players in the segment. The fully automatic segment is also expected to demonstrate significant growth.

By End User,

• Residential
• Healthcare
• Hospitality
• Transportation
• Others

The healthcare segment accounted for the largest share owing to the wide range of medical applications of smart beds. The hospitality segment is expected to grow at the fastest CAGR of 9.8%.

By Distribution Channel,

• Offline
• Brand Stores
• Home Centers
• Online

The offline segment is expected to hold the largest market share owing to the large number of offline stores globally. The online segment is expected to be the fastest-growing segment since the penetration of e-commerce websites is slowly increasing..

Regional Overview

On regional basis, the global Smart Beds market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The North American region accounted for the largest market share of more than 25% in the global market. This is due to the increasing penetration of smartphones and rise in mobile cellular applications. Europe region is anticipated to demonstrate significant growth.

The Asia Pacific region holds the second largest market share in the global market, owing to the major home improvement projects undertaken by consumers owing to rapid urbanization and growing purchasing power of people, especially in countries such as China and India. The region is also growing at the fastest growth rate.

Competitive Landscape

Key players operating in the global Smart Beds market include Paramount Bed Co. Ltd., Stryker Corporation, Sleep Number, Invacare Corporation, Hill Rom Holdings Inc., Arjohuntleigh AB, Ergomotion, Inc, Responsive Surface Technology LLC, Hi-Interiors SRL, and Hilding Anders, among others.

The cumulative market share of the top 12 to 15 players is near about 45 to 55%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in April 2021, Sleep Number introduced health and wellness daytime alertness feature to improve overall sleep health, quality, and well being.

The global Smart Beds market report provides insights on the below pointers:

• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Smart Beds market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Smart Beds market report answers questions such as:

• What is the market size and forecast of the Global Smart Beds Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Smart Beds Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart Beds Market?
• What is the competitive strategic window for opportunities in the Global Smart Beds Market?
• What are the technology trends and regulatory frameworks in the Global Smart Beds Market?
• What is the market share of the leading players in the Global Smart Beds Market?
• What modes and strategic moves are considered favorable for entering the Global Smart Beds Market?